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Nonprofiteer
← ELIM PARK FOUNDATION INC

Form 990 for tax year 2023

Filed by ELIM PARK FOUNDATION INC.

Totals

Total revenue
$423,361
Total expenses
$2,628
Contributions and grants received
$134,188
Grants paid
$0
Program service revenue
$0
Investment income
$289,173
Other revenue
$0
Total assets, end of year
$4,700,499
Total liabilities, end of year
$2,203,067
Net assets or fund balances, end of year
$2,497,432
Program services expenses (Part IX)
$0
Management and general expenses
$2,628
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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

    $134,188

  • 1g · Noncash contributions included above

    $119,558

  • 3 · Investment income

    total $82,400 · excluded $82,400

  • 7a · Gross sales of assets other than inventory

    securities $223,575

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

    securities $16,802

  • 7c · Gain or loss

    securities $206,773

  • 7d · Net gain or loss

    total $206,773 · excluded $206,773

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $2,628 · management and general $2,628

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $311,271 · end of year $512,462

  • 3 · Pledges and grants receivable

    beginning of year $10,188 · end of year $10,188

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,413 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $2,819,109 · end of year $3,432,410

  • 15 · Other assets

    beginning of year $798,603 · end of year $745,439

  • 17 · Accounts payable and accrued expenses

    beginning of year $462 · end of year $2,877

  • 25 · Other liabilities

    beginning of year $2,101,310 · end of year $2,200,190

  • 27 · Net assets without donor restrictions

    beginning of year $1,242,804 · end of year $2,069,300

  • 28 · Net assets with donor restrictions

    beginning of year $597,008 · end of year $428,132

Mission and programs · 2023

Mission

TO PROVIDE SUPPORT TO THE ELIM PARK BAPTIST HOME.

  • PROVIDE SUPPORT TO THE ELIM PARK BAPTIST HOME.

As filed on the 2023 return.

Listed in Part VII

  • Tim Ponzani

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Geoffrey Swanson

    DIRECTOR (LEFT 12/2023)

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Chris Nelson

    DIRECTOR/IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Roberto Ecker

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Terrence Brennan

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Vicki Hoffman

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Joanne Perry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Markes Wilson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Keith Wetjen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Mike Wijas

    DIRECTOR (FROM 3/2024)

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Brian Bedard

    PRESIDENT

    Total calculated
    $341,151
    From this org
    $0
    From related orgs
    $291,293
    Other
    $49,858
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $246,193 related
    Bonus
    $0 + $45,100 related
    Other
    $0
    Deferred
    $0 + $10,218 related
    Nontaxable benefits
    $0 + $39,640 related
    Filer's total
    $0 + $341,151 related

  • Zell Gaston

    CHIEF FINANCIAL OFFICER (LEFT 10/23)

    Total calculated
    $184,980
    From this org
    $0
    From related orgs
    $170,162
    Other
    $14,818
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $75,349 related
    Bonus
    $0 + $94,813 related
    Other
    $0
    Deferred
    $0 + $1,810 related
    Nontaxable benefits
    $0 + $13,008 related
    Filer's total
    $0 + $184,980 related

  • Michelle Pascetta

    CHIEF FINANCIAL OFFICER (FROM 3/2023)

    Total calculated
    $148,582
    From this org
    $0
    From related orgs
    $135,386
    Other
    $13,196
    Hours/week
    2 + 40 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

  • 1a · Housing allowance or residence for personal use
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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)

PART I, LINE 1A
THE PRESIDENT OF ELIM PARK IS REQUIRED TO LIVE ON THE FACILITY CAMPUS AS A CONDITION OF EMPLOYMENT. HOUSING IS CONSIDERED NONTAXABLE COMPENSATION AND THE VALUE IS INCLUDED IN PART II COLUMN D.
PART I, LINE 3
THE CEO/EXECUTIVE DIRECTOR IS PAID BY RELATED ORGANIZATION, ELIM PARK BAPTIST HOME, INC. THAT USES THE FOLLOWING PROCEDURE TO DETERMINE COMPENSATION: THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS INDEPENDENT STUDIES. THE COMMITTEE THEN DISCUSSES AND VOTES. THIS ACTION IS DOCUMENTED.

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.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
12 February 2025
IRS schema version
2023v6.0
Source object
202530449349301303

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