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← MAF FOUNDATION

Form 990 for tax year 2022

Filed by MAF FOUNDATION.

Totals

Total revenue
$1,115,467
Total expenses
$105,200
Contributions and grants received
$1,042,469
Grants paid
$80,000
Program service revenue
$0
Investment income
$72,998
Other revenue
$0
Total assets, end of year
$8,438,189
Total liabilities, end of year
$3,808,182
Net assets or fund balances, end of year
$4,630,007
Program services expenses (Part IX)
$80,000
Management and general expenses
$25,200
Fundraising expenses
$0
Program service expenses (Part III)
$80,000

Program services were 76.0% 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.

  • 1d · Related organizations

    $82,775

  • 1f · All other contributions, gifts and grants

    $959,694

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $72,998 · excluded $72,998

  • 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.

  • 2 · Grants to domestic individuals

    total $80,000 · program services $80,000

  • 11c · Fees: accounting

    total $21,854 · management and general $21,854

  • 11f · Fees: investment management

    total $3,238 · management and general $3,238

  • 11g · Fees: other

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

  • 24a · Other expenses: Taxes

    total $108 · management and general $108

  • 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 $0

  • 4 · Accounts receivable

    end of year $493,385

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $1,174,139 · end of year $1,026,512

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $7,438,294 · end of year $6,918,292

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,948

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $4,198,752 · end of year $3,808,182

  • 27 · Net assets without donor restrictions

    beginning of year -$5,073 · end of year $493,385

  • 28 · Net assets with donor restrictions

    beginning of year $4,412,806 · end of year $4,136,622

Mission and programs · 2022

Mission

The Foundation provides free seminars to potential donors and current donors to inform them about the work of Mission Aviation Fellowship and to teach them about stewardship principles.

Activities or mission (Part I)

Inform about the work of Mission Aviation Fellowship

  • MAF Foundation serves as a fundraising entity to support the ministry of Mission Aviation Fellowship (MAF), which reaches the world's most isolated people with the love of Jesus Christ to bring help, hope, and healing through aviation, in its efforts to search for new disciples, support the existing expression of the Christian church and Christian disciple-making movements, strengthen capacity and talent of national workers, serve people's spiritual and physical needs, and steward creation as a reflection of God's love for mankind. The Foundation seeks to educate MAF supporters about stewardship and estate planning. Such services are free of charge. MAF Foundation also administers the Cornerstone Scholarship Endowment Fund to provide scholarships first to children of employees of its related company, Mission Aviation Fellowship. The CSEF is administered pursuant to private letter ruling 9132047.

    Expenses $80,000 · Grants $80,000

As filed on the 2022 return.

Listed in Part VII

  • Aaron Bear

    Secretary

    Total calculated
    $153,464
    From this org
    $0
    From related orgs
    $119,682
    Other
    $33,782
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $119,682 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,305 related
    Nontaxable benefits
    $0 + $27,477 related
    Filer's total
    $0 + $153,464 related

  • David Holsten

    President & CEO

    Total calculated
    $200,199
    From this org
    $0
    From related orgs
    $163,064
    Other
    $37,135
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $163,064 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,397 related
    Nontaxable benefits
    $0 + $28,738 related
    Filer's total
    $0 + $200,199 related

  • Joseph Barraclough

    Treasurer

    Total calculated
    $168,991
    From this org
    $0
    From related orgs
    $131,415
    Other
    $37,576
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $131,415 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,996 related
    Nontaxable benefits
    $0 + $30,580 related
    Filer's total
    $0 + $168,991 related

  • Steve Pruss

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Brian Burks

    Director (Part Year)

    Total calculated
    $0
    Hours/week
    1

  • Greg Davis

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ronn Bagge

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ryan Warwick

    Director

    Total calculated
    $0
    Hours/week
    1

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

None.

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.

  • Mission Aviation Fellowship

    501(c)(3) · Multiply the effectiveness of the church · CA

    Directly controlled by NA

  • Undisclosed related tax-exempt organization

    501(c)(3) · Communication, aviation, technical assistance · CA

    Directly controlled by MAF

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Charitable Remainder Unitrusts (7)

    Trust · Hold assets and remit income to the Foundation · CA · controlled entity

    Directly controlled by MAF Foundation

  • Charitable Remainder Unitrusts (9)

    Trust · Hold assets and remit income to the Foundation · ID · controlled entity

    Directly controlled by MAF Foundation

  • MAF Media LLC

    C Corporation · Media Production · CO

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202343199349312559

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