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← RTS FOUNDATION INC

Form 990 for tax year 2023

Filed by RTS FOUNDATION INC.

Totals

Total revenue
$19,574
Total expenses
$348,452
Contributions and grants received
$0
Grants paid
$341,763
Program service revenue
$8,446
Investment income
$11,128
Other revenue
$0
Total assets, end of year
$361,709
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$361,709
Program services expenses (Part IX)
$341,763
Management and general expenses
$0
Fundraising expenses
$6,689
Program service expenses (Part III)
$341,763

Program services were 98.1% 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.

  • 2a · Program service revenue: AUXILIARY ENTERPRISES

    total $8,446 · related or exempt $8,446

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $11,128 · excluded $11,128

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $341,763 · program services $341,763

  • 11c · Fees: accounting

    total $6,689 · fundraising $6,689

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,561 · end of year $1,561

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $691,734 · end of year $360,148

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    end of year $15,527

  • 28 · Net assets with donor restrictions

    beginning of year $693,295 · end of year $346,182

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO SUPPORT THE MISSION OF REFORMED THEOLOGICAL SEMINARY (RTS), BY PROVIDING ASSISTANCE TO FRIENDS OF RTS AS THEY CONSIDER GIVING TO THIS MINISTRY.

  • THE FOUNDATION'S PURPOSES ARE EXCLUSIVELY FOR RELIGIOUS, CHARITABLE SCIENTIFIC, LITERARY AND/OR EDUCATIONAL PURPOSES WITHIN THE MEANING OF THE IRC SECTION 501(C)(3). THE FOUNDATION PROVIDED GRANTS TO REFORMED THEOLOGICAL SEMINARY AND OTHER ELIGIBLE 501(C)(3) EXEMPT ORGANIZATIONS APPROVED BY THE FOUNDATION'S BOARD OF TRUSTEES.

    Expenses $341,763 · Grants $341,763 · Revenue $8,446

As filed on the 2023 return.

Listed in Part VII

  • Bf Bracy

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Roderick S Russ III

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Benjamin W Roberson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Charles L Irby Sr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Collie W Lehn

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Craig C Rohde

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • David H Lucas

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • George R Fair

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Hugh M Comer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • J Bryon Johnson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • J Scott Redd Sr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Larry W Edwards

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Paul Hurst III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Richard L Ridgway

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Robert T Curtis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Scott Maclellan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • T David Elkin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • V Hu Meena

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Warren J Williamson Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • William M Mounger II

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • J Ligon Duncan III

    VICE PRESIDENT

    Total calculated
    $326,372
    From this org
    $0
    From related orgs
    $280,111
    Other
    $46,261
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $219,736 related
    Bonus
    $0 + $375 related
    Other
    $0 + $60,000 related
    Deferred
    $0 + $21,131 related
    Nontaxable benefits
    $0 + $25,130 related
    Filer's total
    $0 + $326,372 related
  • Jessica Short

    TREASURER

    Total calculated
    $151,257
    From this org
    $0
    From related orgs
    $135,362
    Other
    $15,895
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $125,362 related
    Bonus
    $0 + $10,000 related
    Other
    $0
    Deferred
    $0 + $8,231 related
    Nontaxable benefits
    $0 + $7,664 related
    Filer's total
    $0 + $151,257 related
  • Ricky Rayborn

    PRESIDENT

    Total calculated
    $137,996
    From this org
    $0
    From related orgs
    $108,840
    Other
    $29,156
    Hours/week
    1 + 40 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

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
10 April 2025
IRS schema version
2023v6.0
Source object
202521009349301272

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