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Nonprofiteer
← COSERV CHARITABLE FOUNDATION

Form 990 for tax year 2023

Filed by COSERV CHARITABLE FOUNDATION.

Totals

Total revenue
$1,795,783
Total expenses
$1,676,920
Contributions and grants received
$1,790,232
Grants paid
$1,615,241
Program service revenue
$0
Investment income
$5,551
Other revenue
$0
Total assets, end of year
$298,993
Total liabilities, end of year
$1,000
Net assets or fund balances, end of year
$297,993
Program services expenses (Part IX)
$1,676,920
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,676,920

Program services were 100.0% 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.

  • 1c · Fundraising events

    $138,660

  • 1d · Related organizations

    $54,338

  • 1f · All other contributions, gifts and grants

    $1,597,234

  • 3 · Investment income

    total $5,551 · excluded $5,551

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $138,660

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,615,241 · program services $1,615,241

  • 24a · Other expenses: PAID BY COSERV ELECTRIC

    total $44,338 · program services $44,338

  • 24b · Other expenses: PAID BY COSERV GAS

    total $17,341 · program services $17,341

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $173,184 · end of year $293,930

  • 4 · Accounts receivable

    beginning of year $5,946 · end of year $5,063

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $1,000

  • 27 · Net assets without donor restrictions

    beginning of year $179,130 · end of year $297,993

Mission and programs · 2023

Mission

TO PROVIDE (1) FINANCIAL ASSISTANCE TO INDIVIDUALS AND THEIR FAMILIES THROUGH SPECIFIC ASSISTANCE AND CONTRIBUTIONS TO LOCAL CHARITIES AND COMMUNITY PROJECTS, AND (2) GRANTS TO LOCAL NOT-FOR-PROFITS THAT PROVIDE CRITICAL SERVICES TO THE COMMUNITY AND/OR SUPPORT EDUCATION.

Activities or mission (Part I)

TO PROVIDE CRITICAL SERVICES TO FAMILIES WITHIN THE COMMUNITY BY SPONSORING LOCAL NOT-FOR-PROFITS.

  • THE ORGANIZATION FUNDED 120 GRANTS, INCLUDING 23 FOR EDUCATION FOUNDATIONS. 53 REQUESTS FOR FUNDING WERE DENIED.

    Expenses $1,676,920 · Grants $1,615,241

As filed on the 2023 return.

Listed in Part VII

  • GREG WARD

    PRESIDENT

    Total calculated
    $460,303
    From this org
    $0
    From related orgs
    $348,768
    Other
    $111,535
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $314,738 related
    Bonus
    $0 + $19,360 related
    Other
    $0 + $14,670 related
    Deferred
    $0 + $76,631 related
    Nontaxable benefits
    $0 + $34,904 related
    Filer's total
    $0 + $460,303 related

  • JEFFREY MCNEAL

    VICE PRESIDENT

    Total calculated
    $461,349
    From this org
    $0
    From related orgs
    $350,210
    Other
    $111,139
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $316,184 related
    Bonus
    $0 + $19,382 related
    Other
    $0 + $14,644 related
    Deferred
    $0 + $74,938 related
    Nontaxable benefits
    $0 + $36,201 related
    Filer's total
    $0 + $461,349 related

  • BRENT BISHOP

    SECRETARY-TREASURER

    Total calculated
    $487,514
    From this org
    $0
    From related orgs
    $371,558
    Other
    $115,956
    Hours/week
    2 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $320,911 related
    Bonus
    $0 + $39,727 related
    Other
    $0 + $10,920 related
    Deferred
    $0 + $78,005 related
    Nontaxable benefits
    $0 + $37,951 related
    Filer's total
    $0 + $487,514 related

  • ROBBY HAMLIN 123

    DIRECTOR

    Total calculated
    $272,750
    From this org
    $0
    From related orgs
    $214,361
    Other
    $58,389
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $30,304 related
    Bonus
    $0
    Other
    $0 + $184,057 related
    Deferred
    $0 + $55,483 related
    Nontaxable benefits
    $0 + $2,906 related
    Filer's total
    $0 + $272,750 related

  • DENISE SMITHERS

    DIRECTOR

    Total calculated
    $494,504
    From this org
    $0
    From related orgs
    $365,317
    Other
    $129,187
    Hours/week
    1.5 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $326,262 related
    Bonus
    $0 + $20,077 related
    Other
    $0 + $18,978 related
    Deferred
    $0 + $93,969 related
    Nontaxable benefits
    $0 + $35,218 related
    Filer's total
    $0 + $494,504 related

  • DYAN JAMES

    DIRECTOR

    Total calculated
    $372,644
    From this org
    $0
    From related orgs
    $312,590
    Other
    $60,054
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $283,405 related
    Bonus
    $0 + $15,895 related
    Other
    $0 + $13,290 related
    Deferred
    $0 + $33,936 related
    Nontaxable benefits
    $0 + $26,118 related
    Filer's total
    $0 + $372,644 related

  • PHILIP HASSEL

    DIRECTOR

    Total calculated
    $503,039
    From this org
    $0
    From related orgs
    $315,256
    Other
    $187,783
    Hours/week
    2 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $283,773 related
    Bonus
    $0 + $15,895 related
    Other
    $0 + $15,588 related
    Deferred
    $0 + $158,862 related
    Nontaxable benefits
    $0 + $28,921 related
    Filer's total
    $0 + $503,039 related

  • GARY FRANZEN

    DIRECTOR

    Total calculated
    $433,278
    From this org
    $0
    From related orgs
    $323,602
    Other
    $109,676
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $283,759 related
    Bonus
    $0 + $34,689 related
    Other
    $0 + $5,154 related
    Deferred
    $0 + $73,987 related
    Nontaxable benefits
    $0 + $35,689 related
    Filer's total
    $0 + $433,278 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

  • 4a · Severance or change-of-control payment

Answered no

  • 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

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II
PART I, LINES 4A: THE FOLLOWING INDVIDUAL RECEIVED A SEVERANCE PAYMENT THAT IS INCLUDED IN OTHER REPORTABLE COMPENSATION IN PART II, COLUMN B (III). THIS PAYMENT WAS PAID BY THE RELATED ORGANIZATION, DENTON COUNTY ELECTRIC COOPERATIVE INC., AS THE FOUNDATION DOES NOT PAY ANY COMPENSATION: ROBBY HAMLIN $151,972 PART II: ALL COMPENSATION REPORTED ON SCHEDULE J PART II IS RELATED TO THE DIRECTORS EMPLOYMENT WITH DENTON COUNTY ELECTRIC COOPERATIVE, INC. PER THE BY-LAWS NO DIRECTOR OR MEMBER OF ANY COMMMITTEE OF THE BOARD MAY BE PAID COMPENSATION FOR HIS/HER SERVICE AS A DIRECTOR OR COMMITTEE MEMBER OF THE FOUNDATION.

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

The 10 largest by cash amount. The API serves every itemized grant.

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
6 November 2024
IRS schema version
2023v5.1
Source object
202433199349304778

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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