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Nonprofiteer
← JEITO FOUNDATION

Form 990 for tax year 2023

Filed by JEITO FOUNDATION.

Totals

Total revenue
$1,429,014
Total expenses
$819,093
Contributions and grants received
$0
Grants paid
$500,000
Program service revenue
$0
Investment income
$1,704,102
Other revenue
-$275,088
Total assets, end of year
$23,063,847
Total liabilities, end of year
$184,985
Net assets or fund balances, end of year
$22,878,862
Program services expenses (Part IX)
$500,000
Management and general expenses
$319,093
Fundraising expenses
$0
Program service expenses (Part III)
$500,000

Program services were 61.0% 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 $701,022 · unrelated business $393 · excluded $700,629

  • 5 · Royalties

    total $73 · unrelated business $47 · excluded $26

  • 6b · Less rental expenses

    real property $198,869

  • 6c · Rental income or loss

    real property -$198,869

  • 6d · Net rental income or loss

    total -$198,869 · unrelated business -$102,440 · excluded -$96,429

  • 7a · Gross sales of assets other than inventory

    securities $1,507,913 · other assets $579,219

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

    securities $1,084,052 · other assets $0

  • 7c · Gain or loss

    securities $423,861 · other assets $579,219

  • 7d · Net gain or loss

    total $1,003,080 · unrelated business $76,350 · excluded $926,730

  • 11a · Other revenue: K-1 PASS THROUGH INCOME/(LOSS)

    total -$76,292 · unrelated business -$76,303 · excluded $11

  • 11e · Other revenue, total

    -$76,292

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $500,000 · program services $500,000

  • 11c · Fees: accounting

    total $26,200 · management and general $26,200

  • 11f · Fees: investment management

    total $84,000 · management and general $84,000

  • 13 · Office expenses

    total $27 · management and general $27

  • 20 · Interest

    total $20,623 · management and general $20,623

  • 23 · Insurance

    total $1,207 · management and general $1,207

  • 24a · Other expenses: INVESTMENT EXPENSES

    total $182,032 · management and general $182,032

  • 24b · Other expenses: TAXES, LICENSES, FEES

    total $5,004 · management and general $5,004

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $5,070,744 · end of year $3,844,951

  • 7 · Other notes and loans receivable

    beginning of year $1,607,360 · end of year $2,059,190

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

    $5,545,898

  • 10c · Land, buildings and equipment, net

    beginning of year $5,330,463 · end of year $5,545,898

  • 12 · Investments: other securities

    beginning of year $10,245,861 · end of year $11,563,113

  • 15 · Other assets

    beginning of year $14,513 · end of year $50,695

  • 25 · Other liabilities

    beginning of year $0 · end of year $184,985

  • 27 · Net assets without donor restrictions

    beginning of year $22,268,941 · end of year $22,878,862

Mission and programs · 2023

Mission

THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO SUPPORT AND BENEFIT, PRIMARILY THROUGH GRANTS, THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS (HERE-AFTER "THE CHURCH"), AND FIVE OF THE CHURCH'S SPECIFICALLY IDENTIFIED AFFILIATED ORGANIZATIONS.

Activities or mission (Part I)

SUPPORTED THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS.

  • THE JEITO FOUNDATION PROVIDED $500,000 IN GRANTS TO SUPPORT AND BENEFIT THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS AND BRIGHAM YOUNG UNIVERSITY.

    Expenses $500,000 · Grants $500,000

As filed on the 2023 return.

Listed in Part VII

  • Wilford A Cardon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

  • Glenn McKay

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

  • Dale Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

  • Patrick Cardon

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

  • M Wesley Mashburn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1

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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202403189349307755

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