Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: G&A Services

  total $4,259,440 · related or exempt $4,185,524 · unrelated business $73,916

• 2f · All other program service revenue

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

• 3 · Investment income

  total $418,445 · excluded $418,445

• 6a · Gross rents

  real property $795,640

• 6b · Less rental expenses

  real property $832,916

• 6c · Rental income or loss

  real property -$37,276 · personal property $0

• 6d · Net rental income or loss

  total -$37,276 · excluded -$37,276

• 7a · Gross sales of assets other than inventory

  securities $5,806,630 · other assets $33,500

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

  securities $6,417,698 · other assets $9,027

• 7c · Gain or loss

  securities -$611,068 · other assets $24,473

• 7d · Net gain or loss

  total -$586,595 · excluded -$586,595

• 11d · All other revenue

  total $25,531 · related or exempt $25,531 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $25,531

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $14,077 · program services $14,077

• 4 · Benefits paid to or for members

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $1,097,882 · program services $796,134 · management and general $301,748

• 7 · Other salaries and wages

  total $2,575,409 · program services $2,138,471 · management and general $436,938

• 8 · Pension plan contributions

  total $60,543 · program services $49,711 · management and general $10,832

• 9 · Other employee benefits

  total $242,127 · program services $201,119 · management and general $41,008

• 10 · Payroll taxes

  total $228,621 · program services $192,954 · management and general $35,667

• 11b · Fees: legal

  total $20,542 · program services $2,825 · management and general $17,717

• 11c · Fees: accounting

  total $23,144 · management and general $23,144

• 11f · Fees: investment management

  total $88,562 · management and general $88,562

• 11g · Fees: other

  total $84,900 · program services $23,902 · management and general $60,998 · fundraising $0

• 13 · Office expenses

  total $208,328 · program services $162,799 · management and general $45,529

• 14 · Information technology

  total $55,774 · program services $50,465 · management and general $5,309

• 16 · Occupancy

  total $477,516 · program services $618 · management and general $476,898

• 17 · Travel

  total $98,505 · program services $77,651 · management and general $20,854

• 19 · Conferences, conventions and meetings

  total $18,796 · program services $16,258 · management and general $2,538

• 20 · Interest

  total $437,045 · management and general $437,045

• 22 · Depreciation, depletion and amortization

  total $162,885 · program services $76,424 · management and general $86,461

• 23 · Insurance

  total $56,036 · program services $12,196 · management and general $43,840

• 24a · Other expenses: General Dues & Fees

  total $179,028 · program services $136,813 · management and general $42,215

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $685,614 · end of year $1,273,490

• 2 · Savings and temporary cash investments

  beginning of year $215,771 · end of year $126,802

• 4 · Accounts receivable

  beginning of year $38,127

• 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

• 9 · Prepaid expenses and deferred charges

  beginning of year $159,173 · end of year $210,441

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

  $11,026,418

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

  $7,235,007

• 10c · Land, buildings and equipment, net

  beginning of year $3,553,274 · end of year $3,791,411

• 11 · Investments: publicly traded securities

  beginning of year $9,101,644 · end of year $10,063,521

• 12 · Investments: other securities

  beginning of year $17,730,294 · end of year $19,267,153

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $5,524,184 · end of year $2,718,737

• 17 · Accounts payable and accrued expenses

  beginning of year $799,188 · end of year $1,103,382

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $7,369,572 · end of year $6,176,617

• 25 · Other liabilities

  beginning of year $4,103 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $28,835,218 · end of year $30,171,556

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions

All spousal travel expenses paid by the organization must be approved by the President who determines whether the expense was for a necessary business purpose. The CFO must approve the spousal travel expenses for the President. Expenses incurred that are not determined to be necessary business expenses are taxable to the individual and included in their taxable compensation. Dana Rasic, President & Director, and Nathan Merrill, CFO, VP, Treasurer & Director received spousal travel benefits during the year.

Schedule J, Part I, Line 7 Non-fixed payments

The organization and related entities pay discretionary bonuses to their officers, directors, and key employees from time to time. The frequency and amount of the bonuses are determined by the Administrative Committee, CEO, or other management, and based on factors such as overall job performance, substantial extra projects, etc. The organizations do not have any employment contracts which obligate the payment of bonuses in the future.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Bethesda Real Estate Company

  C Corporation · Real Estate Management · CO · 100% owned · share of income $55,346 · share of assets $588,551 · controlled entity

  Directly controlled by Bethesda Associates