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Nonprofiteer
← FUND FOR THE COMMON GOOD

Form 990 for tax year 2022

Filed by FUND FOR THE COMMON GOOD.

Totals

Total revenue
-$506,052
Total expenses
$3,876,388
Contributions and grants received
$0
Grants paid
$3,800,000
Program service revenue
$0
Investment income
-$506,052
Other revenue
$0
Total assets, end of year
$27,437,728
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$27,437,728
Program services expenses (Part IX)
$3,800,000
Management and general expenses
$76,388
Fundraising expenses
$0
Program service expenses (Part III)
$3,800,000

Program services were 98.0% 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.

  • 3 · Investment income

    total $633,240 · unrelated business $0 · excluded $633,240

  • 7a · Gross sales of assets other than inventory

    securities $20,221,966

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

    securities $21,361,258

  • 7c · Gain or loss

    securities -$1,139,292

  • 7d · Net gain or loss

    total -$1,139,292 · related or exempt $0 · unrelated business $0 · excluded -$1,139,292

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,800,000 · program services $3,800,000

  • 11c · Fees: accounting

    total $5,458 · program services $0 · management and general $5,458 · fundraising $0

  • 11f · Fees: investment management

    total $66,509 · program services $0 · management and general $66,509 · fundraising $0

  • 13 · Office expenses

    total $395 · program services $0 · management and general $395 · fundraising $0

  • 24a · Other expenses: State registration fees

    total $354 · program services $0 · management and general $354 · fundraising $0

  • 24b · Other expenses: Foreign Taxes

    total $943 · program services $0 · management and general $943 · fundraising $0

  • 24c · Other expenses: Software

    total $2,729 · program services $0 · management and general $2,729 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,913 · end of year $738

  • 4 · Accounts receivable

    end of year $41,285

  • 11 · Investments: publicly traded securities

    beginning of year $31,711,934 · end of year $27,395,705

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,558 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $31,713,289 · end of year $27,437,728

Mission and programs · 2022

Mission

The Organization's principal activity is the promotion of social welfare through the provision of strategic and financial support to other organizations that support the organization's mission and are exempt under IRC 501(c)(3) or 501 (c)(4).

  • THE ORGANIZATION'S PRINCIPAL ACTIVITY IS THE PROMOTION OF SOCIAL WELFARE THROUGH THE PROVISION OF STRATEGIC AND FINANCIAL RESOURCES TO OTHER 501(C)3 OR 501(C)4 ORGANIZATIONS CONSISTENT WITH THE ORGANIZATION'S MISSION INCLUDING SUPPORTING LOCAL JOURNALISM.

    Expenses $3,800,000 · Grants $3,800,000

As filed on the 2022 return.

Listed in Part VII

  • Christine AShreve

    Treasurer

    Total calculated
    $0
    Hours/week
    0.25

  • Mary C Acker

    Secretary

    Total calculated
    $0
    Hours/week
    0.5

  • David J Korotkin

    Assistant Secretary

    Total calculated
    $0
    Hours/week
    0.25

  • Stewart Bainum Jr

    President and Director

    Total calculated
    $0
    Hours/week
    2

  • Sandra Bainum

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Bradford Bainum

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Matthew Bainum

    Director

    Total calculated
    $0
    Hours/week
    0.25

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.

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
15 April 2023
IRS schema version
2022v5.0
Source object
202303189349304130

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