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Nonprofiteer
← THE FULLER FOUNDATION

Form 990 for tax year 2024

Filed by THE FULLER FOUNDATION.

Totals

Total revenue
$8,141,876
Total expenses
$8,776,555
Contributions and grants received
$1,424,937
Grants paid
$3,924,700
Program service revenue
$5,412,865
Investment income
$1,087,571
Other revenue
$216,503
Total assets, end of year
$234,599,861
Total liabilities, end of year
$151,423,959
Net assets or fund balances, end of year
$83,175,902
Program services expenses (Part IX)
$7,519,258
Management and general expenses
$1,023,461
Fundraising expenses
$233,836
Program service expenses (Part III)
$7,519,258

Program services were 85.7% 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

    $1,424,937

  • 1g · Noncash contributions included above

    $128,077

  • 2a · Program service revenue: COST RECOVERY ASSESSMENTS

    total $5,411,413 · related or exempt $5,411,413

  • 2b · Program service revenue: PRI INTEREST INCOME

    total $1,452 · related or exempt $1,452

  • 3 · Investment income

    total $1,192,919 · excluded $1,192,919

  • 7a · Gross sales of assets other than inventory

    securities $11,151,849

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

    securities $11,257,197

  • 7c · Gain or loss

    securities -$105,348

  • 7d · Net gain or loss

    total -$105,348 · excluded -$105,348

  • 11a · Other revenue: UBI FROM PASSTHROUGHS

    total $216,503 · unrelated business $216,503

  • 11e · Other revenue, total

    $216,503

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,924,700 · program services $3,924,700

  • 5 · Compensation of officers, directors and key employees

    total $1,089,522 · program services $964,565 · management and general $75,435 · fundraising $49,522

  • 7 · Other salaries and wages

    total $1,577,471 · program services $1,396,551 · management and general $109,219 · fundraising $71,701

  • 8 · Pension plan contributions

    total $176,178 · program services $155,972 · management and general $12,198 · fundraising $8,008

  • 9 · Other employee benefits

    total $358,302 · program services $317,208 · management and general $24,808 · fundraising $16,286

  • 10 · Payroll taxes

    total $189,592 · program services $167,847 · management and general $13,127 · fundraising $8,618

  • 11b · Fees: legal

    total $10,910 · management and general $10,910

  • 11c · Fees: accounting

    total $80,512 · management and general $80,512

  • 11f · Fees: investment management

    total $345,257 · program services $112,431 · management and general $232,826

  • 11g · Fees: other

    total $127,953 · management and general $127,953

  • 12 · Advertising and promotion

    total $80,156 · program services $40,078 · management and general $20,039 · fundraising $20,039

  • 13 · Office expenses

    total $81,464 · program services $26,742 · management and general $54,722

  • 14 · Information technology

    total $215,162 · program services $71,714 · management and general $143,448

  • 16 · Occupancy

    total $125,533 · program services $41,125 · management and general $71,180 · fundraising $13,228

  • 17 · Travel

    total $185,736 · program services $92,868 · management and general $46,434 · fundraising $46,434

  • 19 · Conferences, conventions and meetings

    total $6,952 · management and general $6,952

  • 22 · Depreciation, depletion and amortization

    total $10,486 · program services $3,495 · management and general $6,991

  • 23 · Insurance

    total $14,414 · management and general $14,414

  • 24a · Other expenses: COST RECOVERY EXPENSES

    total $98,309 · program services $98,309

  • 24b · Other expenses: ALUMNI EVENTS

    total $19,868 · program services $19,868

  • 24c · Other expenses: OTHER TAXES/LICENSES

    total $4,936 · management and general $4,936

  • 24d · Other expenses: REPAIRS & MAINTENANCE

    total $331 · program services $110 · management and general $221

  • 24e · All other expenses

    total $52,811 · program services $85,675 · management and general -$32,864

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,784,061 · end of year $998,499

  • 2 · Savings and temporary cash investments

    beginning of year $2,253,990 · end of year $70,265

  • 4 · Accounts receivable

    beginning of year $250,190 · end of year $545,832

  • 5 · Loans and receivables from officers and key people

    beginning of year $350,000 · end of year $350,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $114,456 · end of year $155,976

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

    $367,832

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

    $364,563

  • 10c · Land, buildings and equipment, net

    beginning of year $13,755 · end of year $3,269

  • 11 · Investments: publicly traded securities

    beginning of year $48,114,530 · end of year $55,546,743

  • 12 · Investments: other securities

    beginning of year $163,016,271 · end of year $176,861,127

  • 13 · Investments: program-related

    beginning of year $502,475 · end of year $0

  • 15 · Other assets

    beginning of year $68,150 · end of year $68,150

  • 17 · Accounts payable and accrued expenses

    beginning of year $376,592 · end of year $384,400

  • 19 · Deferred revenue

    beginning of year $38,658 · end of year $216,667

  • 25 · Other liabilities

    beginning of year $142,096,456 · end of year $150,822,892

  • 27 · Net assets without donor restrictions

    beginning of year $24,912,202 · end of year $27,840,871

  • 28 · Net assets with donor restrictions

    beginning of year $53,043,970 · end of year $55,335,031

Mission and programs · 2024

Mission

THE FULLER FOUNDATION SERVES FULLER THEOLOGICAL SEMINARY THROUGH ADVANCEMENT ACTIVITIES AND ENDOWMENT MANAGEMENT, AS WELL AS ITS PARTNERS, INCLUDING CHURCHES AND DENOMINATIONS, AND THE BROADER CHRISTIAN COMMUNITY BY BEING A TRUSTED ADVISOR IN THE PROVISION OF FINANCIAL SERVICES.

Activities or mission (Part I)

THE FULLER FOUNDATION (THE "FOUNDATION") SERVES FULLER THEOLOGICAL SEMINARY (THE "SEMINARY") AND ITS CONSTITUENTS THROUGH STEWARDSHIP, GIFT AND ESTATE PLANNING, CHARITABLE GIVING, AND INVESTMENT MANAGEMENT SERVICES. THE FOUNDATION DOES THIS BY MANAGING THE SEMINARY'S ENDOWMENT AND PROVIDING DEVELOPMENT AND ALUMNI RELATIONS SERVICES, AS WELL AS PROVIDING TRUST ADMINISTRATION, DONOR-ADVISED FUNDS, AND INVESTMENT MANAGEMENT SERVICES FOR GENEROUS FRIENDS OF THE SEMINARY.

  • SEE SCHEDULE OTHE SERVICES OF THE FULLER FOUNDATION BENEFIT AND CARRY OUT THE CHARITABLE PURPOSES OF CHRISTIAN BASED AND OTHER CHARITABLE ORGANIZATIONS. THIS INCLUDES DIRECT SUPPORT OF FULLER THEOLOGICAL SEMINARY, OTHER CHRISTIAN BASED ORGANIZATIONS, OTHER CHARITABLE ORGANIZATIONS, AND VARIOUS DESIGNATED, RESTRICTED, OR ENDOWMENT FUNDS. THE FOUNDATION FULFILLS ITS PURPOSES THROUGH THE ADMINISTRATION AND MANAGEMENT OF FULLER THEOLOGICAL SEMINARY'S FUNDRAISING, ALUMNI RELATIONS ACTIVITIES, AND MANAGEMENT OF CERTAIN ENDOWMENT FUNDS DESIGNATED TO SUPPORT FULLER THEOLOGICAL SEMINARY. ADDITIONALLY, THE FOUNDATION MANAGES CHARITABLE TRUSTS, CHARITABLE FUNDS, DONOR ADVISED FUNDS, AND GIFT ANNUITY TYPE ACCOUNTS. PROGRAM RELATED DISTRIBUTIONS INCLUDE GIFTS AND GRANTS TO THE SEMINARY AND A BROAD BASE OF CHARITABLE ORGANIZATIONS, INCLUDING GIFTS FROM DONOR ADVISED FUNDS. GIFTS AND GRANTS ARE PREDOMINATELY TO U.S. BASED IRS DETERMINED 501(C)(3) CHARITIES. SELECT GRANTS AND GIFTS ARE MADE TO FOREIGN ORGANIZATIONS THAT HAVE BEEN DETERMINED TO BE ORGANIZED FOR EXCLUSIVELY CHARITABLE PURPOSES. OTHER ACTIVITIES INCLUDE PROVIDING TRUST FIDUCIARY SERVICES TO OTHER CHARITABLE ORGANIZATIONS WITH A CHRISTIAN MISSION.

    Expenses $7,519,258 · Grants $3,924,700 · Revenue $5,412,865

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lauren Yamaoka

    SR. DIRECTOR OF DEV. & FOUNDATIONS

    Total calculated
    $313,454
    From this org
    $259,107
    From related orgs
    $0
    Other
    $54,347
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $248,107
    Bonus
    $11,000
    Other
    $0
    Deferred
    $33,977
    Nontaxable benefits
    $20,370
    Filer's total
    $313,454

  • Todd Derrick

    SR. DIR. GIFT/ESTATE PLANNING SVCS.

    Total calculated
    $298,918
    From this org
    $11,447
    From related orgs
    $217,487
    Other
    $69,984
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $11,147 + $211,787 related
    Bonus
    $300 + $5,700 related
    Other
    $0
    Deferred
    $1,465 + $27,836 related
    Nontaxable benefits
    $2,034 + $38,649 related
    Filer's total
    $14,946 + $283,972 related

  • Brian Rietze

    CHIEF FINANCIAL OFFICER

    Total calculated
    $293,826
    From this org
    $117,912
    From related orgs
    $117,912
    Other
    $58,002
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $112,412 + $112,412 related
    Bonus
    $5,500 + $5,500 related
    Other
    $0
    Deferred
    $15,051 + $15,051 related
    Nontaxable benefits
    $13,950 + $13,950 related
    Filer's total
    $146,913 + $146,913 related

  • Dasha Thomas

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $268,896
    From this org
    $236,720
    From related orgs
    $0
    Other
    $32,176
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,720
    Bonus
    $11,000
    Other
    $0
    Deferred
    $29,802
    Nontaxable benefits
    $2,374
    Filer's total
    $268,896

  • John Kamperschroer

    SR. DIRECTOR OF DEVELOPMENT

    Total calculated
    $221,188
    From this org
    $183,319
    From related orgs
    $0
    Other
    $37,869
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,319
    Bonus
    $1,000
    Other
    $0
    Deferred
    $20,667
    Nontaxable benefits
    $17,202
    Filer's total
    $221,188

  • Ronald Smicker

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $178,517
    From this org
    $138,673
    From related orgs
    $0
    Other
    $39,844
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,673
    Bonus
    $1,000
    Other
    $0
    Deferred
    $12,301
    Nontaxable benefits
    $27,543
    Filer's total
    $178,517

  • Luz Mosqueda

    ACCOUNTING MANAGER

    Total calculated
    $153,552
    From this org
    $109,581
    From related orgs
    $0
    Other
    $43,971
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $108,581
    Bonus
    $1,000
    Other
    $0
    Deferred
    $12,166
    Nontaxable benefits
    $31,805
    Filer's total
    $153,552

  • Melissa Frietas

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $151,307
    From this org
    $130,327
    From related orgs
    $0
    Other
    $20,980
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,327
    Bonus
    $1,000
    Other
    $0
    Deferred
    $11,431
    Nontaxable benefits
    $9,549
    Filer's total
    $151,307

  • Regina Graham

    DIRECTOR OF CHURCH ENGAGEMENT

    Total calculated
    $138,548
    From this org
    $113,443
    From related orgs
    $0
    Other
    $25,105
    Hours/week
    40

  • Nicole Shelley

    SECRETARY / OFFICE OPS MANAGER

    Total calculated
    $124,125
    From this org
    $91,286
    From related orgs
    $0
    Other
    $32,839
    Hours/week
    40

  • Robert Ceremsak

    CHAIR / ACTING EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Colette Cozean

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Katherine Drake

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Emmanuel Goatley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Danny Kuo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joanne Mathew

    DIRECTOR (AS OF 10/2024)

    Total calculated
    $0
    Hours/week
    1

  • Daniel Meyer

    DIRECTOR (THROUGH 10/2024)

    Total calculated
    $0
    Hours/week
    1

  • Russ Michealsen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shirley Mullen

    DIRECTOR (AS OF 10/2024)

    Total calculated
    $0
    Hours/week
    1

  • James Rea Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michele Ruby

    DIRECTOR (THROUGH 5/2024)

    Total calculated
    $0
    Hours/week
    1

  • Jody Vanderwel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniel Villanueva

    VICE CHAIR

    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

  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION'S EXECUTIVE DIRECTOR WAS NOT COMPENSATED DURING 2024.
PART I, LINE 7
THE ORGANIZATION PROVIDED BONUSES TO CERTAIN INDIVIDUALS REPORTED ON FORM 990, PART VII AND/OR SCHEDULE J, PART II WHICH WOULD BE CONSIDERED "NON-FIXED PAYMENTS" IN THAT DISCRETION (IN PART) WAS UTILIZED TO DETERMINE THE AMOUNT OF BONUS PAYMENT AND/OR WHETHER TO MAKE A BONUS PAYMENT.

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

The 10 largest by cash amount. The API serves every itemized grant.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • EVANSTON DEVELOPMENT LLC

    INVESTMENTS · CA

  • FULLER ENDOWMENT FUND LLC

    EXCLUDED · INVESTMENTS · CA · 29.05% owned · share of income $2,196,849 · share of assets $40,584,832 · general or managing partner

    Directly controlled by THE FULLER FOUNDATION

Related corporations and trusts

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

  • FULLER INVESTMENT MANAGEMENT COMPANY

    C · INVESTMENT ADVISOR · DE · 100% owned · share of income $697,979 · share of assets $244,127 · controlled entity

    Directly controlled by THE FULLER FOUNDATION

  • CHARITABLE REMAINDER TRUSTS (4)

    T · SPLIT INTEREST CHARITABLE TRUST · CA · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202513189349307926

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