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Nonprofiteer
← NORTHWESTERN FOUNDATION

Form 990 for tax year 2022

Filed by NORTHWESTERN FOUNDATION.

Totals

Total revenue
$205,521
Total expenses
$6,030,449
Contributions and grants received
$112,882
Grants paid
$5,892,589
Program service revenue
$68,552
Investment income
$24,087
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$5,892,589
Management and general expenses
$136,180
Fundraising expenses
$1,680
Program service expenses (Part III)
$5,892,589

Program services were 97.7% 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.

  • 1d · Related organizations

    $95,000

  • 1f · All other contributions, gifts and grants

    $17,882

  • 2a · Program service revenue: INVESTMENT MANAGEMENT

    total $68,552 · related or exempt $68,552

  • 3 · Investment income

    total $156,335 · excluded $156,335

  • 7a · Gross sales of assets other than inventory

    securities $2,680,151

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

    securities $2,812,399

  • 7c · Gain or loss

    securities -$132,248

  • 7d · Net gain or loss

    total -$132,248 · excluded -$132,248

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,892,589 · program services $5,892,589

  • 11g · Fees: other

    total $119,926 · management and general $119,926

  • 13 · Office expenses

    total $493 · management and general $312 · fundraising $181

  • 23 · Insurance

    total $13,534 · management and general $13,534

  • 24a · Other expenses: COMPLIANCE FEES

    total $3,610 · management and general $2,408 · fundraising $1,202

  • 24b · Other expenses: FOOD

    total $297 · fundraising $297

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $119,499

  • 2 · Savings and temporary cash investments

    beginning of year $129,992

  • 11 · Investments: publicly traded securities

    beginning of year $5,558,179

  • 15 · Other assets

    beginning of year $396,487 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $101,422

  • 25 · Other liabilities

    beginning of year $611,384 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,294,726 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $4,196,625 · end of year $0

Mission and programs · 2022

Mission

SECURE, RECEIVE, AND MANAGE GIFTS ON BEHALF OF THE UNIVERSITY NW - ST. PAUL AND OTHER CHARITIES.

  • TO SECURE, RECEIVE AND MANAGE PLANNED GIFTS ON BEHALF OF PUBLIC CHARITIES INCLUDING UNIVERSITY OF NORTHWESTERN - ST. PAUL, A CHRISTIAN, NOT-FOR-PROFIT EDUCATIONAL INSTITUTION WITH A MISSION TO EQUIP BELIEVERS TO GROW INTELLECTUALLY AND SPIRITUALLY, TO SERVE EFFECTIVELY IN THEIR PROFESSIONS, AND TO GIVE GOD-HONORING LEADERSHIP IN THE HOME, CHURCH, COMMUNITY AND WORLD THROUGH CHRIST-CENTERED HIGHER EDUCATION AND MEDIA. NORTHWESTERN MEDIA EXISTS TO LEAD PEOPLE TO CHRIST AND TO NURTURE BELIEVERS IN THEIR SPIRITUAL GROWTH THROUGH CHRIST-CENTERED MEDIA. AS A FOUNDATION ALSO SERVING THE COMMUNITY, THE FOUNDATION IS ABLE TO ASSIST IN CHARITABLE GIFT PLANNING THAT BENEFITS OTHER NOT-FOR-PROFIT ORGANIZATIONS WHOSE BELIEFS ALIGN WITH THE BELIEFS OR THE MISSION OF THE ORGANIZATION.

    Expenses $5,892,589 · Grants $5,892,589 · Revenue $68,552

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Darin Glanzer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Alan Cureton

    DIRECTOR (THRU 7/22)

    Total calculated
    $615,460
    From this org
    $0
    From related orgs
    $593,100
    Other
    $22,360
    Hours/week
    2 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $284,684 related
    Bonus
    $0 + $235,817 related
    Other
    $0 + $72,599 related
    Deferred
    $0 + $6,231 related
    Nontaxable benefits
    $0 + $16,129 related
    Filer's total
    $0 + $615,460 related

  • Dr Corbin Hoornbeek

    DIRECTOR

    Total calculated
    $181,011
    From this org
    $0
    From related orgs
    $167,942
    Other
    $13,069
    Hours/week
    2 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $126,303 related
    Bonus
    $0 + $12,831 related
    Other
    $0 + $28,808 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $13,069 related
    Filer's total
    $0 + $181,011 related

  • Grover C Sayre III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • John Force

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kevin Zwart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Nancy Johnson

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Ronald Halvorson

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Stan Erickson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Dale Engskov

    PRESIDENT (AS OF 12/22)

    Total calculated
    $103,900
    From this org
    $0
    From related orgs
    $73,584
    Other
    $30,316
    Hours/week
    2 + 45 related

  • Dr April Moreton

    PRESIDENT (THRU 11/22)

    Total calculated
    $222,779
    From this org
    $0
    From related orgs
    $187,209
    Other
    $35,570
    Hours/week
    2 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $184,462 related
    Bonus
    $0 + $1,200 related
    Other
    $0 + $1,547 related
    Deferred
    $0 + $4,125 related
    Nontaxable benefits
    $0 + $31,445 related
    Filer's total
    $0 + $222,779 related

  • John Sommerville

    TREASURER

    Total calculated
    $180,914
    From this org
    $0
    From related orgs
    $158,009
    Other
    $22,905
    Hours/week
    2 + 45 related

    Schedule J breakdown matched by us

    Base
    $0 + $92,365 related
    Bonus
    $0 + $1,200 related
    Other
    $0 + $64,444 related
    Deferred
    $0 + $377 related
    Nontaxable benefits
    $0 + $22,528 related
    Filer's total
    $0 + $180,914 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
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 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)

PART I, LINE 3
THE COMPENSATION OF THE OFFICERS OF THE NORTHWESTERN FOUNDATION IS DETERMINED BY THE UNIVERSITY OF NORTHWESTERN - ST. PAUL, A RELATED ORGANIZATION, WHICH UTILIZES COMPENSATION SURVEYS OR STUDIES TO ESTABLISH COMPENSATION.
PART I, LINES 4A-B
DR. APRIL MORETON, FOUNDATION PRESIDENT, RECEIVED $26,736 AS A SEVERANCE PAYMENT. DR. CURETON PARTICIPATED IN 457(F) PLAN. HE RECEIVED HIS FINAL DISTRIBUTION FROM THE PLAN OF $16,613. THE PLAN WAS TERMINATED DURING THE FISCAL YEAR.

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.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

Provenance

Return type
form_990
Tax year
2022
Filed
4 May 2024
IRS schema version
2022v5.0
Source object
202441289349300144

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