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← SOVEREIGN EQUITY FUND

Form 990 for tax year 2024

Filed by SOVEREIGN EQUITY FUND.

Totals

Total revenue
$1,623,093
Total expenses
$2,180,936
Contributions and grants received
$1,623,093
Grants paid
$1,941,517
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$5,076,081
Total liabilities, end of year
$3,771,810
Net assets or fund balances, end of year
$1,304,271
Program services expenses (Part IX)
$2,017,634
Management and general expenses
$163,302
Fundraising expenses
$0
Program service expenses (Part III)
$2,017,634

Program services were 92.5% 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.

  • 1f · All other contributions, gifts and grants

    $1,623,093

  • 2f · All other program service revenue

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

  • 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 $1,941,517 · program services $1,941,517

  • 5 · Compensation of officers, directors and key employees

    total $106,000 · program services $54,992 · management and general $51,008

  • 7 · Other salaries and wages

    total $28,442 · program services $13,934 · management and general $14,508

  • 9 · Other employee benefits

    total $24,868 · program services $5,542 · management and general $19,326

  • 11b · Fees: legal

    total $117 · management and general $117

  • 11c · Fees: accounting

    total $34,000 · program services $500 · management and general $33,500

  • 11g · Fees: other

    total $11,450 · program services $0 · management and general $11,450 · fundraising $0

  • 13 · Office expenses

    total $5,060 · program services $358 · management and general $4,702

  • 14 · Information technology

    total $10,146 · management and general $10,146

  • 17 · Travel

    total $6,736 · management and general $6,736

  • 23 · Insurance

    total $10,219 · management and general $10,219

  • 24a · Other expenses: Dues & Subscriptions

    total $1,962 · program services $791 · management and general $1,171

  • 24b · Other expenses: Bank Fees

    total $419 · management and general $419

  • 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 $3,880,540 · end of year $4,574,506

  • 3 · Pledges and grants receivable

    beginning of year $2,250,000 · end of year $500,000

  • 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

  • 9 · Prepaid expenses and deferred charges

    end of year $1,575

  • 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

  • 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

  • 17 · Accounts payable and accrued expenses

    end of year $16,477

  • 18 · Grants payable

    beginning of year $600,000 · end of year $900,000

  • 19 · Deferred revenue

    beginning of year $3,668,426 · end of year $2,855,333

  • 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

    beginning of year $962,114 · end of year $944,271

  • 28 · Net assets with donor restrictions

    beginning of year $900,000 · end of year $360,000

Mission and programs · 2024

Mission

To advance Native food security to strengthen Tribal sovereignty through advancements in agricultural infrastructure by utilizing transformative mission investment strategies.

Activities or mission (Part I)

Sovereign Equity Fund (SEF) provides grants to eligible entities to provide assistance and services to improve the social, environmental, health, and economic development opportunities of American Indians, Alaska Natives, and Native Hawaiians. The goal is to advance Native food security to strengthen Tribal sovereignty through advancements in agricultural infrastructure by utilizing transformative mission investment strategies.

  • Providing donations, gifts, grants, contributions, loans, guarantees, or subsidies to support American Indians, Alaska Natives, and Native Hawaiians.

    Expenses $2,017,634 · Grants $1,941,517

As filed on the 2024 return.

Listed in Part VII

  • JoAnn Kauffman

    Secretary

    Total calculated
    $2,000
    From this org
    $2,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Justin Wilson

    President

    Total calculated
    $2,000
    From this org
    $2,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Richard Luarkie

    Treasurer

    Total calculated
    $2,000
    From this org
    $2,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Christy Walker

    Controller

    Total calculated
    $0
    Hours/week
    10

  • Courtney Chavis

    Executive Director

    Total calculated
    $100,000
    From this org
    $100,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.1
Source object
202543219349322654

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