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Nonprofiteer
← STEWARDSHIP ENDOWMENT FUND

Form 990 for tax year 2023

Filed by STEWARDSHIP ENDOWMENT FUND.

Totals

Total revenue
$18,621,964
Total expenses
$6,079,139
Contributions and grants received
$12,863,946
Grants paid
$2,296,008
Program service revenue
$4,697,016
Investment income
$872,759
Other revenue
$188,243
Total assets, end of year
$73,532,327
Total liabilities, end of year
$4,604,885
Net assets or fund balances, end of year
$68,927,442
Program services expenses (Part IX)
$6,063,070
Management and general expenses
$16,069
Fundraising expenses
$0
Program service expenses (Part III)
$6,063,070

Program services were 99.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $12,863,946

  • 1g · Noncash contributions included above

    $7,863,946

  • 2a · Program service revenue: Rental Income

    total $4,697,016 · related or exempt $4,697,016

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $872,759 · excluded $872,759

  • 6a · Gross rents

    personal property $325,000

  • 6b · Less rental expenses

    personal property $136,757

  • 6c · Rental income or loss

    real property $0 · personal property $188,243

  • 6d · Net rental income or loss

    total $188,243 · unrelated business $188,243

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,296,008 · program services $2,296,008

  • 11c · Fees: accounting

    total $1,550 · management and general $1,550

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $2,390,007 · program services $2,390,007

  • 22 · Depreciation, depletion and amortization

    total $1,377,055 · program services $1,377,055

  • 24e · All other expenses

    total $14,519 · program services $0 · management and general $14,519 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $40,339 · end of year $7,339

  • 2 · Savings and temporary cash investments

    beginning of year $684,521 · end of year $5,966,417

  • 4 · Accounts receivable

    beginning of year $10,000 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $62,794,186

  • 10b · Land, buildings and equipment: accumulated depreciation

    $13,290,790

  • 10c · Land, buildings and equipment, net

    beginning of year $43,044,357 · end of year $49,503,396

  • 11 · Investments: publicly traded securities

    beginning of year $17,182,416 · end of year $18,055,175

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    end of year $75,000

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $4,577,016 · end of year $4,529,885

  • 27 · Net assets without donor restrictions

    beginning of year $46,384,617 · end of year $58,927,442

  • 28 · Net assets with donor restrictions

    beginning of year $10,000,000 · end of year $10,000,000

Mission and programs · 2023

Mission

To operate exclusively as a supporting organization to carry out the charitable and/or religious purposes of Scottsdale Bible Church

Activities or mission (Part I)

Supporting organization to Scottsdale Bible Church

  • Through the operation of wholly owned LLCs for the benefit of Scottsdale Bible Church, own real property that is leased in connection with charitable purposes.

    Expenses $6,063,070 · Grants $2,296,008 · Revenue $4,697,016

As filed on the 2023 return.

Listed in Part VII

  • David Williams

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mike Demoss

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Scott Cleverly

    Chair

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Archie Wright

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • David Scholl

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rick Kratche

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 7601 E Shea Blvd LLC

    Hold Real Estate · AZ · income $1,620,000 · assets $26,818,491

    Directly controlled by Stewardship Endowment Fund

  • 2501 E Cactus LLC

    Hold Real Estate · AZ · income $134,004 · assets $5,059,765

    Directly controlled by Stewardship Endowment Fund

  • 6363 E Dynamite LLC

    Hold Real Estate · AZ · income $393,000 · assets $7,649,349

    Directly controlled by Stewardship Endowment Fund

  • 15202 N Fountain Hills LLC

    Hold Real Estate · AZ · income $149,004 · assets $842,097

    Directly controlled by Stewardship Endowment Fund

  • 3107 E Hampton Ave LLC

    Hold Real Estate · AZ · income $36,000 · assets $473,231

    Directly controlled by Stewardship Endowment Fund

  • 2334 E Southern Ave LLC

    Hold Real Estate · AZ · income $7,863,946 · assets $7,841,133

    Directly controlled by Stewardship Endowment Fund

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202433179349302963

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