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← FINNUP FOUNDATION

Form 990 for tax year 2022

Filed by FINNUP FOUNDATION.

Totals

Total revenue
$2,244,517
Total expenses
$2,011,901
Contributions and grants received
$0
Grants paid
$1,406,121
Program service revenue
$0
Investment income
$1,186,065
Other revenue
$1,058,452
Total assets, end of year
$31,669,107
Total liabilities, end of year
$1,793,742
Net assets or fund balances, end of year
$29,875,365
Program services expenses (Part IX)
$1,406,121
Management and general expenses
$605,780
Fundraising expenses
$0
Program service expenses (Part III)
$1,406,121

Program services were 69.9% 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.

  • 3 · Investment income

    total $1,154,148 · excluded $1,154,148

  • 5 · Royalties

    total $451,779 · excluded $451,779

  • 6a · Gross rents

    real property $536,139

  • 6b · Less rental expenses

    real property $277,360

  • 6c · Rental income or loss

    real property $258,779

  • 6d · Net rental income or loss

    total $258,779 · excluded $258,779

  • 7a · Gross sales of assets other than inventory

    securities $7,640,131

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

    securities $7,608,214

  • 7c · Gain or loss

    securities $31,917

  • 7d · Net gain or loss

    total $31,917 · excluded $31,917

  • 11a · Other revenue: Working interest in oil and gas

    total $341,999 · unrelated business $341,999

  • 11b · Other revenue: Other income

    total $5,895 · excluded $5,895

  • 11e · Other revenue, total

    $347,894

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,406,121 · program services $1,406,121

  • 5 · Compensation of officers, directors and key employees

    total $240,132 · management and general $240,132

  • 7 · Other salaries and wages

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

  • 8 · Pension plan contributions

    total $10,100 · management and general $10,100

  • 9 · Other employee benefits

    total $7,851 · management and general $7,851

  • 10 · Payroll taxes

    total $12,887 · management and general $12,887

  • 11b · Fees: legal

    total $5,537 · management and general $5,537

  • 11c · Fees: accounting

    total $8,000 · management and general $8,000

  • 11f · Fees: investment management

    total $129,706 · management and general $129,706

  • 11g · Fees: other

    total $7,915 · management and general $7,915

  • 13 · Office expenses

    total $6,073 · management and general $6,073

  • 14 · Information technology

    total $9,475 · management and general $9,475

  • 16 · Occupancy

    total $98,378 · management and general $98,378

  • 17 · Travel

    total $1,023 · management and general $1,023

  • 23 · Insurance

    total $1,625 · management and general $1,625

  • 24a · Other expenses: Dues and subscriptions

    total $3,078 · management and general $3,078

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $651,959 · end of year $760,154

  • 4 · Accounts receivable

    beginning of year $765

  • 9 · Prepaid expenses and deferred charges

    beginning of year $122

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

    $7,682,283

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

    $3,064,403

  • 10c · Land, buildings and equipment, net

    beginning of year $4,638,321 · end of year $4,617,880

  • 11 · Investments: publicly traded securities

    beginning of year $25,381,130 · end of year $25,735,728

  • 12 · Investments: other securities

    beginning of year $515,294 · end of year $555,345

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,530

  • 18 · Grants payable

    beginning of year $1,277,248 · end of year $1,406,121

  • 25 · Other liabilities

    beginning of year $266,064 · end of year $387,621

  • 29 · Capital stock, trust principal or current funds

    beginning of year $29,575,057 · end of year $29,807,673

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $67,692 · end of year $67,692

Mission and programs · 2022

Mission

The Finnup Foundation Trust was established in 1977 by siblings Frederick Finnup and Isabel Finnup, who carried on the legacy of generosity that was modeled by their father, George Finnup, and their grandfather, Frederick Finnup. The Finnup family's interest in families, youth, education, social services, and conservation is expressed through the gifts to many organizations in the community.

Activities or mission (Part I)

Grantwriting for programs in the areas of families, youth, education, social services, and conservation.

  • During 2022, the Foundation distributed $1,277,248 to 30 charitable and educational organizations in Kansas based on distributable income resulting from 2021 operations. For 2023, the Foundation's board of trustees has authorized $1,406,121 in similar distributions based on the results of 2021 operations.

    Expenses $1,406,121 · Grants $1,406,121

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Caverly Hart

    Trustee

    Total calculated
    $160,132
    From this org
    $144,463
    From related orgs
    $0
    Other
    $15,669
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,463
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,669
    Filer's total
    $160,132

  • Lance Woodbury

    Trustee

    Total calculated
    $40,000
    From this org
    $40,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • John D Pinegar

    Trustee

    Total calculated
    $40,000
    From this org
    $40,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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

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

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.

  • Community Congregational Church

    501(c)(3) · Religious · KS

  • Garden City Kansas

    Government · Government · KS

  • Washburn University

    501(c)(3) · Education · KS

Provenance

Return type
form_990
Tax year
2022
Filed
4 May 2023
IRS schema version
2022v5.0
Source object
202311249349300541

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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