Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $1,600,000

• 1f · All other contributions, gifts and grants

  $1,473,568

• 3 · Investment income

  total $556,555 · excluded $556,555

• 7a · Gross sales of assets other than inventory

  securities $3,634,425

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

  securities $3,503,730

• 7c · Gain or loss

  securities $130,695

• 7d · Net gain or loss

  total $130,695 · excluded $130,695

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $3,106,390 · program services $3,106,390

• 5 · Compensation of officers, directors and key employees

  total $293,422 · program services $146,711 · management and general $70,421 · fundraising $76,290

• 7 · Other salaries and wages

  total $447,548 · program services $218,092 · management and general $110,821 · fundraising $118,635

• 8 · Pension plan contributions

  total $51,480 · program services $25,740 · management and general $12,355 · fundraising $13,385

• 9 · Other employee benefits

  total $82,542 · program services $41,271 · management and general $19,810 · fundraising $21,461

• 10 · Payroll taxes

  total $34,048 · program services $17,024 · management and general $8,172 · fundraising $8,852

• 11c · Fees: accounting

  total $21,266 · program services $21,266

• 11f · Fees: investment management

  total $18,234 · management and general $18,234

• 12 · Advertising and promotion

  total $41,094 · program services $41,094

• 13 · Office expenses

  total $23,301 · management and general $23,301

• 14 · Information technology

  total $126,148 · program services $126,148

• 16 · Occupancy

  total $30,249 · management and general $30,249

• 17 · Travel

  total $79,093 · program services $68,020 · management and general $2,373 · fundraising $8,700

• 19 · Conferences, conventions and meetings

  total $103,023 · program services $88,785 · management and general $2,938 · fundraising $11,300

• 22 · Depreciation, depletion and amortization

  total $2,872 · management and general $2,872

• 24a · Other expenses: RESEARCH PAYMENTS

  total $120,000 · program services $120,000

• 24b · Other expenses: CREDIT CARD FEES

  total $31,409 · program services $31,409

• 24c · Other expenses: SHARED SERVICES W&B

  total $10,682 · program services $10,682

• 24d · Other expenses: SUBSCRIPTIONS

  total $348 · management and general $348

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,324,368 · end of year $434,105

• 2 · Savings and temporary cash investments

  beginning of year $91,324 · end of year $222,872

• 3 · Pledges and grants receivable

  beginning of year $139,150 · end of year $328,552

• 9 · Prepaid expenses and deferred charges

  beginning of year $26,252 · end of year $11,727

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

  $30,565

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

  $23,338

• 10c · Land, buildings and equipment, net

  beginning of year $10,099 · end of year $7,227

• 11 · Investments: publicly traded securities

  beginning of year $33,622,787 · end of year $27,517,168

• 15 · Other assets

  beginning of year $0 · end of year $627,348

• 17 · Accounts payable and accrued expenses

  beginning of year $49,917 · end of year $43,575

• 18 · Grants payable

  beginning of year $2,850,000 · end of year $3,025,000

• 25 · Other liabilities

  beginning of year $134,619 · end of year $82,197

• 27 · Net assets without donor restrictions

  beginning of year $28,952,725 · end of year $23,167,160

• 28 · Net assets with donor restrictions

  beginning of year $3,226,719 · end of year $2,831,067

The filer's explanations (Part III)

PART I, LINE 3

OUTSIDE COMPENSATION EXPERT IS UTILIZED TO BENCHMARK EXECUTIVE AND SENIOR LEVEL POSITIONS. PRESIDENT AND THE BOARD CHAIR MAKE THE FINAL HIRING, COMPENSATION, AND ANY MERIT INCREASE DECISIONS FOR THE CHIEF EXECUTIVE OFFICER ROLE BASED ON THE DATA PROVIDED BY AN EXTERNAL COMPENSATION CONSULTANT. COMPENSATION IS RE-ASSESSED AND ADJUSTED IF DEEMED APPROPRIATE EVERY 3 YEARS TO ENSURE IT IS MARKET COMPETITIVE. COMPENSATION REVIEW PROCEDURES FOR THE CHIEF FINANCIAL OFFICER ARE PERFORMED BY A RELATED ORGANIZATION, ASA. OUTSIDE COMPENSATION EXPERTS ARE UTILIZED REGARDING BENCHMARKING THE POSITION. THE PRESIDENT AND THE PRESIDENT-ELECT OF ASA MAKE DECISIONS ON ANY MERIT INCREASE FOR CHIEF FINANCIAL OFFICER OF FAER.