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← Marble Freedom Trust

Form 990 for tax year 2022

Filed by Marble Freedom Trust.

Totals

Total revenue
$48,470,772
Total expenses
$223,627,384
Contributions and grants received
$0
Grants paid
$216,850,000
Program service revenue
$0
Investment income
$48,470,772
Other revenue
$0
Total assets, end of year
$1,042,289,889
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,042,289,889
Program services expenses (Part IX)
$217,159,222
Management and general expenses
$6,468,162
Fundraising expenses
$0
Program service expenses (Part III)
$217,159,222

Program services were 97.1% 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.

  • 3 · Investment income

    total $26,662,557 · related or exempt $0 · unrelated business $0 · excluded $26,662,557

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $21,808,215

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $21,808,215

  • 7d · Net gain or loss

    total $21,808,215 · related or exempt $0 · unrelated business $0 · excluded $21,808,215

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $216,850,000 · program services $216,850,000

  • 5 · Compensation of officers, directors and key employees

    total $1,170,000 · program services $200,000 · management and general $970,000

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $100,000 · program services $75,000 · management and general $25,000

  • 10 · Payroll taxes

    total $31,429 · management and general $31,429

  • 11a · Fees: management

    total $246,000 · management and general $246,000

  • 11b · Fees: legal

    total $1,668,090 · management and general $1,668,090

  • 11c · Fees: accounting

    total $32,223 · management and general $32,223

  • 11f · Fees: investment management

    total $1,464,905 · management and general $1,464,905

  • 11g · Fees: other

    total $1,832,329 · management and general $1,832,329

  • 13 · Office expenses

    total $183,639 · management and general $183,639

  • 17 · Travel

    total $3,139 · management and general $3,139

  • 23 · Insurance

    total $45,630 · program services $34,222 · management and general $11,408

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,931,663 · end of year $3,486,980

  • 3 · Pledges and grants receivable

    beginning of year $19,692,529

  • 11 · Investments: publicly traded securities

    beginning of year $1,193,909,837 · end of year $1,023,821,447

  • 12 · Investments: other securities

    end of year $5,033,663

  • 15 · Other assets

    end of year $9,947,799

  • 27 · Net assets without donor restrictions

    beginning of year $1,226,534,029 · end of year $1,042,289,889

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

To maintain and expand human freedom consistent with the values and ideals set forth in the Declaration of Independence and the Constitution of the United States.

  • The Trust reviewed and approved grants to maintain and expand human freedom consistent with the values and ideals set forth in the Declaration of Independence and the Constitution of the United States, and planned for its future as a new organization.

    Expenses $216,884,222 · Grants $216,850,000

  • The Trust reviewed and approved amounts to maintain and expand human freedom, and plan for its future as a new organization.

    Expenses $275,000

As filed on the 2022 return.

Listed in Part VII

  • Alex Marshall

    CIO

    Total calculated
    $900,000
    From this org
    $900,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $900,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $900,000

  • Leonard A Leo

    Trustee and Chairman

    Total calculated
    $400,000
    From this org
    $400,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    25 + 6 related

    Schedule J breakdown matched by us

    Base
    $400,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $400,000

  • Jonathan Bunch

    Successor Trustee

    Total calculated
    $0
    Hours/week
    0.5 + 6 related

  • Tyler Green

    Administrative Trustee

    Total calculated
    $0
    Hours/week
    0.5

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 March 2024
IRS schema version
2022v5.0
Source object
202400759349300735

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