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Nonprofiteer
← POINT LOMA NAZARENE UNIVERSITY FOUNDATION

Form 990 for tax year 2023

Filed by POINT LOMA NAZARENE UNIVERSITY FOUNDATION.

Totals

Total revenue
$4,807,116
Total expenses
$1,531,894
Contributions and grants received
$884,240
Grants paid
$956,668
Program service revenue
$0
Investment income
$3,932,402
Other revenue
-$9,526
Total assets, end of year
$108,584,097
Total liabilities, end of year
$13,846,713
Net assets or fund balances, end of year
$94,737,384
Program services expenses (Part IX)
$989,786
Management and general expenses
$542,108
Fundraising expenses
$0
Program service expenses (Part III)
$989,786

Program services were 64.6% 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

    $884,240

  • 1g · Noncash contributions included above

    $5,153

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $3,458,389 · excluded $3,458,389

  • 6a · Gross rents

    real property $59,930

  • 6b · Less rental expenses

    real property $69,456

  • 6c · Rental income or loss

    real property -$9,526 · personal property $0

  • 6d · Net rental income or loss

    total -$9,526 · excluded -$9,526

  • 7a · Gross sales of assets other than inventory

    other assets $3,535,486

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

    other assets $3,061,473

  • 7c · Gain or loss

    securities $0 · other assets $474,013

  • 7d · Net gain or loss

    total $474,013 · excluded $474,013

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $28,528 · program services $28,528

  • 2 · Grants to domestic individuals

    total $928,140 · program services $928,140

  • 7 · Other salaries and wages

    total $10,666 · management and general $10,666

  • 8 · Pension plan contributions

    total $616 · management and general $616

  • 9 · Other employee benefits

    total $485 · management and general $485

  • 10 · Payroll taxes

    total $677 · management and general $677

  • 11f · Fees: investment management

    total $166,170 · management and general $166,170

  • 11g · Fees: other

    total $39,022 · program services $0 · management and general $39,022 · fundraising $0

  • 13 · Office expenses

    total $2,752 · management and general $2,752

  • 16 · Occupancy

    total $33,118 · program services $33,118

  • 17 · Travel

    total $2,360 · management and general $2,360

  • 24a · Other expenses: Annuity Payments

    total $305,539 · management and general $305,539

  • 24b · Other expenses: Equipment

    total $5,454 · management and general $5,454

  • 24e · All other expenses

    total $8,367 · program services $0 · management and general $8,367 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $4,470,705

  • 2 · Savings and temporary cash investments

    end of year $4,098,645

  • 4 · Accounts receivable

    beginning of year $3,341 · end of year $3,341

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

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

    $16,690,169

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $9,629,277 · end of year $16,690,169

  • 11 · Investments: publicly traded securities

    beginning of year $56,203,211 · end of year $79,459,710

  • 12 · Investments: other securities

    beginning of year $149,290 · end of year $3,352,114

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $21,045,468 · end of year $509,413

  • 17 · Accounts payable and accrued expenses

    beginning of year $91,523 · end of year $94,063

  • 19 · Deferred revenue

    beginning of year $2,900 · end of year $3,095

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $7,500 · end of year $7,500

  • 25 · Other liabilities

    beginning of year $2,264,496 · end of year $13,742,055

  • 27 · Net assets without donor restrictions

    beginning of year $44,679,485 · end of year $51,258,180

  • 28 · Net assets with donor restrictions

    beginning of year $39,984,683 · end of year $43,479,204

Mission and programs · 2023

Mission

The primary objectives and purposes of this corporation shall be to promote major gift fundraising for Point Loma Nazarene University through excellence in strategic development, major donor engagement, and oversight of Foundation assets.

Activities or mission (Part I)

Supports Point Loma Nazarene University.

  • Funds raised by the PLNU Foundation are primarily used to support Point Loma Nazarene University in the form of student financial aid.

    Expenses $989,786 · Grants $956,668

As filed on the 2023 return.

Listed in Part VII

  • Gary Smee

    President

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Gilbert Wai

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Joe LaLuzerne

    Treasurer

    Total calculated
    $275,858
    From this org
    $0
    From related orgs
    $216,201
    Other
    $59,657
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $213,794 related
    Bonus
    $0 + $701 related
    Other
    $0 + $1,706 related
    Deferred
    $0 + $17,588 related
    Nontaxable benefits
    $0 + $42,069 related
    Filer's total
    $0 + $275,858 related

  • Scott McGuckin

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Carolyn Downey

    Director

    Total calculated
    $0
    Hours/week
    1

  • Daryl Nicholson

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Douglas Pierce

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mendell Thompson

    Director

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mike Gebhart

    Director

    Total calculated
    $0
    Hours/week
    1

  • Rob Honer

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert Brower

    Ex Officio Director

    Total calculated
    $441,097
    From this org
    $0
    From related orgs
    $391,220
    Other
    $49,877
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $380,253 related
    Bonus
    $0 + $764 related
    Other
    $0 + $10,203 related
    Deferred
    $0 + $26,814 related
    Nontaxable benefits
    $0 + $23,063 related
    Filer's total
    $0 + $441,097 related

  • Rudy Thomas

    Director

    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

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

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
16 April 2025
IRS schema version
2023v6.0
Source object
202531069349301118

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