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Nonprofiteer
← WILLIAM TAYLOR FOUNDATION

Form 990 for tax year 2022

Filed by WILLIAM TAYLOR FOUNDATION.

Totals

Total revenue
$293,271
Total expenses
$362,535
Contributions and grants received
$0
Grants paid
$10,750
Program service revenue
$0
Investment income
$293,271
Other revenue
$0
Total assets, end of year
$8,552,432
Total liabilities, end of year
$3,783,653
Net assets or fund balances, end of year
$4,768,779
Program services expenses (Part IX)
$279,997
Management and general expenses
$82,538
Fundraising expenses
$0
Program service expenses (Part III)
$279,997

Program services were 77.2% 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.

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $288,679 · excluded $288,679

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $2,140,161

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

    securities $2,135,569

  • 7c · Gain or loss

    securities $4,592 · other assets $0

  • 7d · Net gain or loss

    total $4,592 · excluded $4,592

  • 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 $10,750 · program services $10,750

  • 11b · Fees: legal

    total $1,207 · management and general $1,207

  • 11c · Fees: accounting

    total $15,600 · management and general $15,600

  • 11g · Fees: other

    total $93 · program services $0 · management and general $93 · fundraising $0

  • 13 · Office expenses

    total $38 · management and general $38

  • 16 · Occupancy

    total $106 · management and general $106

  • 23 · Insurance

    total $1,494 · management and general $1,494

  • 24a · Other expenses: Payments to Annuitants

    total $269,247 · program services $269,247

  • 24b · Other expenses: Administration Expense

    total $64,000 · management and general $64,000

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $749,064 · end of year $829,503

  • 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

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

    $33,326

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $33,326 · end of year $33,326

  • 11 · Investments: publicly traded securities

    beginning of year $9,401,085 · end of year $7,689,603

  • 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

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $5,071,176 · end of year $3,783,653

  • 27 · Net assets without donor restrictions

    beginning of year $2,390,518 · end of year $2,081,334

  • 28 · Net assets with donor restrictions

    beginning of year $2,721,781 · end of year $2,687,445

Mission and programs · 2022

Mission

Support the educational purposes of Taylor University.

  • Taylor University Foundation, Inc. exists to provide support to Taylor University. This support includes management of certain financial instruments, oversight of certain investment-oriented real estate, and special projects.

    Expenses $279,997 · Grants $10,750

As filed on the 2022 return.

Listed in Part VII

  • Dr D Michael Lindsay

    Chair

    Total calculated
    $599,045
    From this org
    $0
    From related orgs
    $525,773
    Other
    $73,272
    Hours/week
    5 + 63 related

    Schedule J breakdown matched by us

    Base
    $0 + $356,548 related
    Bonus
    $0 + $166,250 related
    Other
    $0 + $2,975 related
    Deferred
    $0 + $21,997 related
    Nontaxable benefits
    $0 + $51,275 related
    Filer's total
    $0 + $599,045 related

  • Stephen Olson

    Executive Director

    Total calculated
    $190,092
    From this org
    $0
    From related orgs
    $156,880
    Other
    $33,212
    Hours/week
    10 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $156,520 related
    Bonus
    $0
    Other
    $0 + $360 related
    Deferred
    $0 + $9,107 related
    Nontaxable benefits
    $0 + $24,105 related
    Filer's total
    $0 + $190,091 related

  • Manuel Rosado

    Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Nicholas Wallace

    Director

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Ron Sutherland

    Director

    Total calculated
    $174,983
    From this org
    $0
    From related orgs
    $143,843
    Other
    $31,140
    Hours/week
    1 + 51 related

    Schedule J breakdown matched by us

    Base
    $0 + $142,259 related
    Bonus
    $0
    Other
    $0 + $1,584 related
    Deferred
    $0 + $8,390 related
    Nontaxable benefits
    $0 + $22,749 related
    Filer's total
    $0 + $174,983 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

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
The compensation of related organization employees is determined by the related organization, Taylor University. The following is used: compensation committee, Independent compensation consultant. Form 990 of other organizations, compensation survey or study, and approval by the independent members of the Board or Executive Committee.

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.

  • 1846 Enterprises Inc

    501(c)(3) · Support Taylor University · IN

    Directly controlled by Taylor University

  • Taylor University

    501(c)(3) · Higher Education · IN

    Directly controlled by NA

  • Taylor University Broadcasting Inc

    501(c)(3) · Christian Broadcasting · IN

    Directly controlled by Taylor University

  • TUCC Inc

    501(c)(3) · Support Taylor University · DE

    Directly controlled by Taylor University

  • TUSO

    501(c)(3) · Support Taylor University · DE

    Directly controlled by TUCC Inc

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 Trusts (1)

    Trust · Charitable Trusts · CA

    Directly controlled by Taylor University

  • Charitable Remainder Trusts (10)

    Trust · Charitable Trusts · IN

    Directly controlled by Taylor University

  • Charitable Remainder Trusts (1)

    Trust · Charitable Trusts · MI

    Directly controlled by Taylor University

  • Charitable Remainder Trusts (1)

    Trust · Charitable Trusts · MO

    Directly controlled by Taylor University

  • Charitable Remainder Trusts (1)

    Trust · Charitable Trusts · OH

    Directly controlled by Taylor University

  • Pooled Income Funds (2)

    Trust · Pooled Income Fund · DE

    Directly controlled by Taylor University

  • 1846 Real Estate Kershner Commons LLC

    C Corporation · Real estate · IN

    Directly controlled by 1846 Enterprises Inc

Provenance

Return type
form_990
Tax year
2022
Filed
13 April 2024
IRS schema version
2022v5.0
Source object
202441049349300404

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