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← SPIRIT OF AMERICA FOUNDATION

Form 990 for tax year 2022

Filed by SPIRIT OF AMERICA FOUNDATION.

Totals

Total revenue
$1,269,709
Total expenses
$1,439,883
Contributions and grants received
$1,267,506
Grants paid
$0
Program service revenue
$0
Investment income
$119
Other revenue
$2,084
Total assets, end of year
$1,856,926
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,856,926
Program services expenses (Part IX)
$1,310,913
Management and general expenses
$128,970
Fundraising expenses
$0
Program service expenses (Part III)
$1,310,913

Program services were 91.0% 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.

  • 1f · All other contributions, gifts and grants

    $1,267,506

  • 3 · Investment income

    total $119 · related or exempt $119

  • 10a · Gross sales of inventory

    $10,495

  • 10b · Cost of goods sold

    $8,411

  • 10c · Net income from sales of inventory

    total $2,084 · related or exempt $2,084

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $174,000 · program services $139,200 · management and general $34,800

  • 9 · Other employee benefits

    total $174,135 · program services $139,308 · management and general $34,827

  • 10 · Payroll taxes

    total $11,637 · program services $9,310 · management and general $2,327

  • 11c · Fees: accounting

    total $3,885 · program services $3,108 · management and general $777

  • 11g · Fees: other

    total $297,392 · program services $297,392

  • 13 · Office expenses

    total $38,630 · program services $30,904 · management and general $7,726

  • 16 · Occupancy

    total $27,058 · program services $21,646 · management and general $5,412

  • 17 · Travel

    total $365,277 · program services $365,277

  • 22 · Depreciation, depletion and amortization

    total $182,624 · program services $146,099 · management and general $36,525

  • 23 · Insurance

    total $29,362 · program services $23,490 · management and general $5,872

  • 24a · Other expenses: Program Expenses

    total $132,362 · program services $132,362

  • 24b · Other expenses: Other Operating Costs

    total $3,521 · program services $2,817 · management and general $704

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $25,367 · end of year $35,070

  • 2 · Savings and temporary cash investments

    beginning of year $151,005 · end of year $157,752

  • 5 · Loans and receivables from officers and key people

    beginning of year $255,588 · end of year $251,588

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

    $1,881,424

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

    $468,908

  • 10c · Land, buildings and equipment, net

    beginning of year $1,595,140 · end of year $1,412,516

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,027,100 · end of year $1,856,926

Mission and programs · 2022

Mission

Education and motivational speeches

  • Provide educational and motivational speeches to conventions, high school assemblies, and local church groups. Spirit of America has reached thousands of people through the distribution of information packets, books, videos, and t-shirts to students.

    Expenses $1,310,913

As filed on the 2022 return.

Listed in Part VII

  • Dean Sikes

    President

    Total calculated
    $361,373
    From this org
    $199,488
    From related orgs
    $0
    Other
    $161,885
    Hours/week
    65

    Schedule J breakdown matched by us

    Base
    $199,488
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $161,885
    Filer's total
    $361,373

  • Paul Loftin

    Director

    Total calculated
    $0
    Hours/week
    1

  • Danny Hall

    Director

    Total calculated
    $0
    Hours/week
    1

  • Gregory Pope

    Director

    Total calculated
    $0
    Hours/week
    1

  • Bill Turner

    SecretaryTreasurer

    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

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

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.

Provenance

Return type
form_990
Tax year
2022
Filed
3 May 2023
IRS schema version
2022v5.0
Source object
202343199349308274

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