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← BILL AND VIEVE GORE ENDOWMENT FUND

Form 990 for tax year 2022

Filed by BILL AND VIEVE GORE ENDOWMENT FUND.

Totals

Total revenue
$67,313
Total expenses
$4,188,901
Contributions and grants received
$0
Grants paid
$4,178,989
Program service revenue
$0
Investment income
$67,313
Other revenue
$0
Total assets, end of year
$15,411,717
Total liabilities, end of year
$3,816,193
Net assets or fund balances, end of year
$11,595,524
Program services expenses (Part IX)
$4,178,989
Management and general expenses
$9,912
Fundraising expenses
$0
Program service expenses (Part III)
$4,178,989

Program services were 99.8% 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 $8,040 · unrelated business -$13,188 · excluded $21,228

  • 7a · Gross sales of assets other than inventory

    securities $912,178

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

    securities $852,905

  • 7c · Gain or loss

    securities $59,273

  • 7d · Net gain or loss

    total $59,273 · excluded $59,273

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,178,989 · program services $4,178,989

  • 11c · Fees: accounting

    total $7,276 · management and general $7,276

  • 11f · Fees: investment management

    total $2,636 · management and general $2,636

Balance sheet

Part X, book values.

  • 3 · Pledges and grants receivable

    beginning of year $1,000,000

  • 12 · Investments: other securities

    beginning of year $14,014,042 · end of year $15,411,717

  • 17 · Accounts payable and accrued expenses

    beginning of year $21,000 · end of year $3,000

  • 18 · Grants payable

    beginning of year $367,282 · end of year $3,813,193

  • 28 · Net assets with donor restrictions

    beginning of year $14,625,760 · end of year $11,595,524

Mission and programs · 2022

Mission

GRANTS TO WESTMINSTER UNIVERSITY OF SALT LAKE CITY.

  • UNIVERSITY DEVELOPMENT: TO PROVIDE UNRESTRICTED FUNDS TO PROMOTE AND EXPAND THE GROWTH AND DEVELOPMENT OF THE UNIVERSITY.

    Expenses $3,644,243 · Grants $3,644,243

  • SCIENCE/MATHEMATICS: TO PROMOTE THE SCIENCE AND MATHEMATICS PROGRAMS THROUGH SCHOLARSHIPS, PURCHASING COMPUTER AND LAB EQUIPMENT,AND FUNDING RESEARCH PROJECTS.

    Expenses $163,029 · Grants $163,029

  • FACULTY: TO ATTRACT AND RETAIN OUTSTANDING UNIVERSITY FACULTY BY PROVIDING AN ANNUAL AWARD TO FACULTY MEMBERS AND FUNDING SEMINARS,CONVENTIONS AND SABBATICAL STUDIES.

    Expenses $230,187 · Grants $230,187

  • BUSINESS BUILDING: TO MAINTAIN, REPAIR AND OPERATE THE GORE SCHOOL OF BUSINESS BUILDING AND SURROUNDING GROUNDS.

    Expenses $58,265 · Grants $58,265

  • MUSIC: TO PROMOTE THE STUDY AND ENJOYMENT OF MUSIC THROUGH SCHOLARSHIPS, FUNDING PROGRAMS, PURCHASING EQUIPMENT AND INSTITUTUIONAL SUPPLIES, A CONCERT SERIES AND RETAINING INSPIRED MUSIC FACULTY.

    Expenses $83,265 · Grants $83,265

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

Listed in Part VII

  • Bethami Dobkin PhD

    TRUSTEE

    Total calculated
    $522,927
    From this org
    $0
    From related orgs
    $398,967
    Other
    $123,960
    Hours/week
    0.2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $379,467 related
    Bonus
    $0
    Other
    $0 + $19,500 related
    Deferred
    $0 + $102,300 related
    Nontaxable benefits
    $0 + $21,660 related
    Filer's total
    $0 + $522,927 related

  • Debra Glenn

    CFO & VP OF FINANCE (AS OF 3/23)

    Total calculated
    $0
    Hours/week
    0.5 + 40 related

  • Danny Glovale

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2 + 1.6 related

  • O Wood Moyle IV

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.2 + 1.6 related

  • Michiko Pinnington

    CFO & VP OF FINANCE (THRU 1/23)

    Total calculated
    $201,923
    From this org
    $0
    From related orgs
    $168,354
    Other
    $33,569
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $168,354 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,969 related
    Nontaxable benefits
    $0 + $25,600 related
    Filer's total
    $0 + $201,923 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)

PART I, LINE 3
THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF WESTMINSTER UNIVERSITY IS RESPONSIBLE FOR THE COMPENSATION REVIEW AND APPROVAL PROCESS FOR OFFICERS AND KEY EMPLOYEES.
PART I, LINE 4A
FOR EACH YEAR OF SERVICE, THE PRESIDENT SHALL ACCRUE SUPPLEMENTAL DEFERRED COMPENSATION BENEFITS EQUAL TO 10% OF BASE SALARY. THE UNIVERSITY SHALL CONTRIBUTE 14% OF THE PRESIDENT'S ANNUAL SALARY INTO A NONQUALIFIED DEFERRED COMPENSATION PLAN. THE PRESIDENT BECOMES ELIGIBLE AND VESTS FOR THE BENEFITS AFTER THE CONCLUSION OF EACH THREE OR TWO-YEAR CONTRACT. FOR THE 2022 CALENDAR YEAR, A CONTRIBUTION OF $69,900 WAS MADE AND $19,500 OF PRIOR CONTRIBUTIONS VESTED.

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
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202421369349311227

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