Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $4,785,080

• 1e · Government grants (contributions)

  $2,253,600

• 1f · All other contributions, gifts and grants

  $20,950,520

• 1g · Noncash contributions included above

  $283,578

• 2a · Program service revenue: UNIVERSITY FEES

  total $2,928,334 · related or exempt $2,928,334

• 2b · Program service revenue: SERVICE FEES

  total $1,706,973 · related or exempt $1,706,973

• 3 · Investment income

  total $2,718,844 · excluded $2,718,844

• 7a · Gross sales of assets other than inventory

  securities $38,164,593

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

  securities $42,670,767

• 7c · Gain or loss

  securities -$4,506,174

• 7d · Net gain or loss

  total -$4,506,174 · excluded -$4,506,174

• 8a · Fundraising events: gross income

  $422,037

• 8a · Fundraising events: contributions included on line 1c

  $4,785,080

• 8b · Fundraising events: direct expenses

  $635,077

• 8c · Net income from fundraising events

  total -$213,040 · excluded -$213,040

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,250,000 · program services $1,250,000

• 2 · Grants to domestic individuals

  total $893,321 · program services $893,321

• 5 · Compensation of officers, directors and key employees

  total $1,496,166 · program services $557,397 · management and general $471,003 · fundraising $467,766

• 7 · Other salaries and wages

  total $10,607,526 · program services $8,312,591 · management and general $1,075,552 · fundraising $1,219,383

• 8 · Pension plan contributions

  total $166,148 · program services $147,051 · management and general $8,177 · fundraising $10,920

• 9 · Other employee benefits

  total $1,391,731 · program services $1,102,466 · management and general $137,659 · fundraising $151,606

• 10 · Payroll taxes

  total $980,282 · program services $756,088 · management and general $109,486 · fundraising $114,708

• 11b · Fees: legal

  total $21,548 · management and general $21,548

• 11f · Fees: investment management

  total $239,537 · management and general $239,537

• 11g · Fees: other

  total $1,278,462 · program services $586,326 · management and general $312,452 · fundraising $379,684

• 13 · Office expenses

  total $668,858 · program services $413,367 · management and general $196,980 · fundraising $58,511

• 16 · Occupancy

  total $3,016,294 · program services $2,417,743 · management and general $576,103 · fundraising $22,448

• 17 · Travel

  total $3,019,280 · program services $2,760,595 · management and general $169,968 · fundraising $88,717

• 20 · Interest

  total $3,009 · program services $2,217 · management and general $792

• 22 · Depreciation, depletion and amortization

  total $146,735 · program services $75,562 · management and general $71,173

• 23 · Insurance

  total $125,605 · program services $117,682 · management and general $7,923

• 24a · Other expenses: EQUIP. RENTAL AND MAINT

  total $342,220 · program services $132,075 · management and general $197,763 · fundraising $12,382

• 24b · Other expenses: STAFF TRAINING/DEVELOP.

  total $140,090 · program services $133,336 · management and general $991 · fundraising $5,763

• 24c · Other expenses: SUPPLIES

  total $137,189 · program services $102,216 · management and general $25,755 · fundraising $9,218

• 24d · Other expenses: INDIRECT FUNDRAISING EX

  total $24,892 · fundraising $24,892

• 24e · All other expenses

  total $29,994 · program services $17,492 · management and general $12,292 · fundraising $210

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $14,969 · end of year $14,969

• 2 · Savings and temporary cash investments

  beginning of year $23,370,374 · end of year $20,159,789

• 3 · Pledges and grants receivable

  beginning of year $1,690,915 · end of year $8,204,289

• 4 · Accounts receivable

  beginning of year $4,015,685 · end of year $4,426,723

• 9 · Prepaid expenses and deferred charges

  beginning of year $704,809 · end of year $947,010

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

  $2,766,134

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

  $2,639,198

• 10c · Land, buildings and equipment, net

  beginning of year $160,983 · end of year $126,936

• 11 · Investments: publicly traded securities

  beginning of year $92,578,095 · end of year $80,523,789

• 12 · Investments: other securities

  beginning of year $14,786,342 · end of year $12,111,897

• 15 · Other assets

  beginning of year $204,964 · end of year $31,180,309

• 17 · Accounts payable and accrued expenses

  beginning of year $938,469 · end of year $1,012,749

• 19 · Deferred revenue

  beginning of year $1,913,334 · end of year $2,030,001

• 24 · Unsecured notes and loans payable

  beginning of year $1,001,600

• 25 · Other liabilities

  beginning of year $1,565,008 · end of year $32,836,866

• 27 · Net assets without donor restrictions

  beginning of year $46,685,863 · end of year $43,481,265

• 28 · Net assets with donor restrictions

  beginning of year $85,422,862 · end of year $78,334,830

The filer's explanations (Part III)

PART I, LINE 7

THE POSSE FOUNDATION HAS AN ORGANIZATION-WIDE BONUS SYSTEM. THE SYSTEM REFLECTS POSSE'S MISSION AND CULTURE BY BEING INCLUSIVE OF ALL EMPLOYEES AND IS INTENDED TO RECOGNIZE POSSE'S STAFF FOR THEIR GOOD WORK AND CONTRIBUTION TO POSSE'S OVERALL SUCCESS. BONUSES ARE AWARDED AND DETERMINED BY THE SUCCESS OF THE EMPLOYEES AND ALSO THE SUCCESS OF THE ORGANIZATION AS A WHOLE - THEY ARE NOT GUARANTEED. EMPLOYEES ARE NOMINATED FOR BONUSES BY THEIR SUPERVISORS AT THE END OF EACH YEAR. STAFF BONUSES ARE AWARDED AT YEAR'S END OR IN JANUARY OF THE FOLLOWING FISCAL YEAR. INDIVIDUAL BONUSES ARE BASED ON THREE OVERARCHING CRITERIA: 1. THE SUPERVISOR'S ASSESSMENT OF ACHIEVEMENT OF OVERALL BENCHMARKS AND GOALS (WHICH ARE DETERMINED BY THE POSITION AND MAY BE ADDED TO BY THE SUPERVISOR. THESE ARE COMMUNICATED BY THE SUPERVISOR TO THE EMPLOYEE EACH YEAR.); 2. QUALITATIVE ASSESSMENT BY THE SUPERVISOR OF PERFORMANCE INDICATORS; 3. OVERALL PROGRAM SUCCESS AND ORGANIZATIONAL PERFORMANCE. THE GENERAL GUIDELINE IS THAT STAFF MEMBERS WHO HAVE WORKED AT POSSE FOR 12 MONTHS OR MORE ARE ELIGIBLE FOR A BONUS ACCORDING TO THEIR LEVEL OF RESPONSIBILITY (A MAXIMUM IS DETERMINED EACH YEAR FOR EACH EMPLOYEE CATEGORY). A SUPERVISOR MAY RECOMMEND AN EMPLOYEE RECEIVE A BONUS AMOUNT OF THE MAXIMUM, A BONUS AMOUNT BELOW THE MAXIMUM, OR NO BONUS AT ALL. THE PRESIDENT'S OFFICE APPROVES ALL STAFF BONUSES. THE COMPENSATION COMMITTEE OF THE BOARD APPROVES THE BONUS FOR THE PRESIDENT AND FOUNDER. THE APPROVAL IS DOCUMENTED IN THE MINUTES OF THE COMPENSATION COMMITTEE MEETING.

PART II, COLUMN B(III)

THE AMOUNT IN COLUMN B(III) INCLUDES A RELOCATION STIPEND FOR ACCEPTING A NEW ROLE IN THE ENTITY.