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← FOUNDATION PROPERTY INC

Form 990 for tax year 2023

Filed by FOUNDATION PROPERTY INC.

Totals

Total revenue
$38,813
Total expenses
$19,703
Contributions and grants received
$38,812
Grants paid
$0
Program service revenue
$1
Investment income
$0
Other revenue
$0
Total assets, end of year
$248,449
Total liabilities, end of year
$215,744
Net assets or fund balances, end of year
$32,705
Program services expenses (Part IX)
$7,441
Management and general expenses
$7,811
Fundraising expenses
$4,451
Program service expenses (Part III)
$7,441

Program services were 37.8% 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.

  • 1f · All other contributions, gifts and grants

    $38,812

  • 2f · All other program service revenue

    total $1 · related or exempt $1

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $1,150 · management and general $1,150

  • 22 · Depreciation, depletion and amortization

    total $18,523 · program services $7,441 · management and general $6,631 · fundraising $4,451

  • 24a · Other expenses: BCO REGISTRATION

    total $30 · management and general $30

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,138 · end of year $19,960

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

    $505,325

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

    $276,836

  • 10c · Land, buildings and equipment, net

    beginning of year $247,013 · end of year $228,489

  • 25 · Other liabilities

    beginning of year $254,556 · end of year $215,744

  • 27 · Net assets without donor restrictions

    beginning of year $13,595 · end of year $32,705

Mission and programs · 2023

Mission

THE PURPOSE OF THE CORPORATION IS TO RECEIVE GIFTS FROM THE PUBLIC, AND USE THOSE GIFTS TOGETHER WITH PART OR ALL OF THE INCOME AND/OR APPRECIATION TO MAKE GRANTS TO OR IN SUPPORT OF NON-PROFIT ORGANIZATIONS WHO ARE EXEMPT FROM TAX UNDER IRC SECTION 501(c)(3)

Activities or mission (Part I)

THE PURPOSE OF THE CORPORATION IS TO RECEIVE GIFTS FROM THE PUBLIC, AND USE THOSE GIFTS TOGETHER WITH PART OR ALL OF THE INCOME AND/OR APPRECIATION TO MAKE GRANTS TO OR IN SUPPORT OF NON-PROFIT ORGANIZATIONS WHO ARE EXEMPT FROM TAX UNDER IRC SECTION 501 (C)(3)

  • FOUNDATION PROPERTY INC. WAS FORMED TO RECEIVE GIFTS FROM THE PUBLIC IN SUPPORT OF CENTRE FOUNDATION, INC. MORE SPECIFICALLY, THE ORGANIZATION RECEIVED A GIFT OF REAL PROPERTY WHICH IS PROVIDED TO THE FOUNDATION AND USED BY IT FOR ITS OFFICES.

    Expenses $7,441 · Revenue $1

As filed on the 2023 return.

Listed in Part VII

  • DOLORES TARICANI

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • TOM SONGER

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • CARI GUSTOFSON

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • JOE DIONISIO

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • ELLEN KLINE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • KATE BENNETT TRUITT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • MOLLY KUNKEL

    PRESIDENT/CEO

    Total calculated
    $173,079
    From this org
    $0
    From related orgs
    $149,329
    Other
    $23,750
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $149,329 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,480 related
    Nontaxable benefits
    $0 + $19,270 related
    Filer's total
    $0 + $173,079 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. 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

None.

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

No itemized grants to organizations 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.

  • CENTRE FOUNDATION INC

    501 (c)(3) · FPI SUPPORTS CENTRE FOUNDATION, INC. AS A TYPE I SUPPORTING ORGANIZATION · PA

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.

  • COMMUNITY FOUNDATION HOLDINGS LLC

    ADMINISTER NON-CASH GIFTS (REAL PROPERTY IN 2006, 2007 & 2019) · PA · income $0 · assets $1,279

    Directly controlled by FOUNDATION PROPERTY INC

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202403179349306445

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