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← SOCIETY FOR THE INCREASE OF THE MINISTRY

Form 990 for tax year 2022

Filed by SOCIETY FOR THE INCREASE OF THE MINISTRY.

Totals

Total revenue
$291,028
Total expenses
$592,432
Contributions and grants received
$122,080
Grants paid
$169,515
Program service revenue
$0
Investment income
$168,948
Other revenue
$0
Total assets, end of year
$4,310,597
Total liabilities, end of year
$27,054
Net assets or fund balances, end of year
$4,283,543
Program services expenses (Part IX)
$396,920
Management and general expenses
$125,206
Fundraising expenses
$70,306
Program service expenses (Part III)
$396,920

Program services were 67.0% 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

    $122,080

  • 3 · Investment income

    total $91,758 · excluded $91,758

  • 7a · Gross sales of assets other than inventory

    securities $332,644

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

    securities $255,454

  • 7c · Gain or loss

    securities $77,190

  • 7d · Net gain or loss

    total $77,190 · excluded $77,190

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $169,515 · program services $169,515

  • 5 · Compensation of officers, directors and key employees

    total $154,623 · program services $86,340 · management and general $36,794 · fundraising $31,489

  • 7 · Other salaries and wages

    total $93,000 · program services $52,734 · management and general $23,340 · fundraising $16,926

  • 8 · Pension plan contributions

    total $4,311 · program services $2,156 · management and general $646 · fundraising $1,509

  • 9 · Other employee benefits

    total $15,804 · program services $7,902 · management and general $2,370 · fundraising $5,532

  • 10 · Payroll taxes

    total $18,075 · program services $9,038 · management and general $2,710 · fundraising $6,327

  • 11f · Fees: investment management

    total $15 · management and general $15

  • 11g · Fees: other

    total $81,520 · program services $40,760 · management and general $40,760

  • 12 · Advertising and promotion

    total $3,378 · program services $1,689 · management and general $1,689

  • 13 · Office expenses

    total $13,519 · program services $6,624 · management and general $4,732 · fundraising $2,163

  • 16 · Occupancy

    total $9,600 · program services $4,704 · management and general $3,360 · fundraising $1,536

  • 17 · Travel

    total $11,715 · program services $6,891 · fundraising $4,824

  • 23 · Insurance

    total $3,303 · management and general $3,303

  • 24a · Other expenses: EQUIPMENT

    total $8,567 · program services $8,567

  • 24b · Other expenses: BOOKS AND SUBCRIPTIONS

    total $2,905 · management and general $2,905

  • 24c · Other expenses: BANK FEES

    total $2,455 · management and general $2,455

  • 24d · Other expenses: MISCELLANEOUS EXPENSE

    total $127 · management and general $127

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $25,896 · end of year $15,964

  • 2 · Savings and temporary cash investments

    beginning of year $38,470 · end of year $35,844

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,366 · end of year $800

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

    $7,807

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

    $2,630

  • 10c · Land, buildings and equipment, net

    beginning of year $5,177 · end of year $5,177

  • 11 · Investments: publicly traded securities

    beginning of year $4,164,430 · end of year $4,252,812

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,053 · end of year $3,019

  • 19 · Deferred revenue

    beginning of year $24,035 · end of year $24,035

  • 27 · Net assets without donor restrictions

    beginning of year $4,212,251 · end of year $4,283,543

Mission and programs · 2022

Mission

SIM PROVIDES SCHOLARSHIPS FOR SEMINARIANS STUDYING FOR MINISTRY WITHIN THE EPISCOPAL CHURCH.

  • SCHOLARSHIPS: GRANTS TO SEMINARIANS. THE FOUNDATION'S CHARITABLE PURPOSE IS TO GRANT SCHOLARSHIPS TO SEMINARY STUDENTS.

    Expenses $373,066 · Grants $169,515

  • CONVENING: SUPPORTS OUTSTANDING LEADERSHIP IN THE COUNCILS OF THE CHURCH.

    Expenses $11,927

  • PASTORAL: VISITS AND CONSULTATIONS WITH SIM GRANT RECEIPIENTS AND CHURCH LEADERSHIP.

    Expenses $11,927

As filed on the 2022 return.

Listed in Part VII

  • REV DR HILARY GREER

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • CONSTANCE R PERRY

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • DAVID HILDER

    TREASURER & CFO

    Total calculated
    $0
    Hours/week
    2

  • THE RT REV BRIAN COLE

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • MARK GRAYSON

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • MIRIAM MCKENNY

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • THE REV LINDA SPIERS

    BOARD SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • COURTNEY V COWART

    EXECUTIVE DIRECTOR

    Total calculated
    $157,077
    From this org
    $134,700
    From related orgs
    $0
    Other
    $22,377
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,700
    Bonus
    $0
    Other
    $0
    Deferred
    $6,735
    Nontaxable benefits
    $15,642
    Filer's total
    $157,077

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

  • 3 · Approval by the board or compensation committee

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202421359349313752

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