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← BINGHAM FUND FOR EXCELLENCE IN TEACHING AT TRANSYLVANIA UNIV

Form 990 for tax year 2023

Filed by BINGHAM FUND FOR EXCELLENCE IN TEACHING AT TRANSYLVANIA UNIV.

Totals

Total revenue
$2,201,322
Total expenses
$2,850,040
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$2,201,322
Other revenue
$0
Total assets, end of year
$130,631,434
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$130,631,434
Program services expenses (Part IX)
$2,676,766
Management and general expenses
$173,274
Fundraising expenses
$0
Program service expenses (Part III)
$2,676,766

Program services were 93.9% 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 $2,201,283 · related or exempt $0 · unrelated business $0 · excluded $2,201,283

  • 4 · Income from investment of tax-exempt bond proceeds

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

  • 5 · Royalties

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

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

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

  • 7a · Gross sales of assets other than inventory

    securities $39 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $39 · other assets $0

  • 7d · Net gain or loss

    total $39 · related or exempt $0 · unrelated business $0 · excluded $39

  • 8a · Fundraising events: gross income

    $0

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

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    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.

  • 6 · Compensation of disqualified persons

    total $76,000 · program services $76,000

  • 7 · Other salaries and wages

    total $1,810,700 · program services $1,719,700 · management and general $91,000

  • 8 · Pension plan contributions

    total $149,701 · program services $142,017 · management and general $7,684

  • 9 · Other employee benefits

    total $60,660 · program services $51,521 · management and general $9,139

  • 10 · Payroll taxes

    total $123,030 · program services $117,357 · management and general $5,673

  • 11a · Fees: management

    total $0

  • 11f · Fees: investment management

    total $59,778 · management and general $59,778

  • 11g · Fees: other

    total $213,879 · program services $213,879

  • 13 · Office expenses

    total $49,954 · program services $49,954

  • 14 · Information technology

    total $212,531 · program services $212,531

  • 17 · Travel

    total $78,709 · program services $78,709

  • 19 · Conferences, conventions and meetings

    total $15,098 · program services $15,098

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year -$805,708 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,270

  • 11 · Investments: publicly traded securities

    beginning of year $116,364,068 · end of year $130,542,247

  • 15 · Other assets

    beginning of year $85,613 · end of year $89,187

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $115,652,243 · end of year $130,631,434

Mission and programs · 2023

Mission

The Trust was established in 1987 in celebration of the continual quest of the human race for knowledge and the service of teachers as the guides along the complex paths of education. The Settlors who established the Trust did so with the fervent hope and desire that it will serve as a source of innovation and motivation in the furtherance of educational excellence through teaching at Transylvania University. The fund was designed to promote teaching excellence and dedication among the faculty of Transylvania through the granting of Bingham Awards to individual teachers of exceptional ability who demonstrate excellent teaching qualities.

Activities or mission (Part I)

Promotes teaching quality and development of the faculty of Transylvania University

  • Faculty salary supplements and related fringe benefits

    Expenses $1,891,694

  • Faculty development grants, technology initiative expenditures and various selection committee expenses

    Expenses $785,072 · Grants $270,937

As filed on the 2023 return.

Listed in Part VII

  • Mr Brien Lewis

    Trustee

    Total calculated
    $484,850
    From this org
    $0
    From related orgs
    $437,461
    Other
    $47,389
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $407,461 related
    Bonus
    $0 + $30,000 related
    Other
    $0
    Deferred
    $0 + $22,500 related
    Nontaxable benefits
    $0 + $24,889 related
    Filer's total
    $0 + $484,850 related

  • Dr John Williams

    Executive Director

    Total calculated
    $36,000
    From this org
    $0
    From related orgs
    $36,000
    Other
    $0
    Hours/week
    10

  • Dr Sarah Stanbury

    Trustee

    Total calculated
    $20,000
    From this org
    $0
    From related orgs
    $20,000
    Other
    $0
    Hours/week
    1

  • Dr Jonathan Berkey

    Trustee

    Total calculated
    $20,000
    From this org
    $0
    From related orgs
    $20,000
    Other
    $0
    Hours/week
    1

  • Mr George Branch

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mr Norwood Cowgill

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Ms Carol L Jones

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dr Dan Jones

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dr John K Roth

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mr William T Young Jr

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mr Christopher H Young

    Chair

    Total calculated
    $0
    Hours/week
    1 + 1 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

  • 3 · Approval by the board or compensation committee

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 March 2025
IRS schema version
2023v6.0
Source object
202511349349302306

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