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Nonprofiteer
← MONTREAT COLLEGE FOUNDATION INC

Form 990 for tax year 2023

Filed by MONTREAT COLLEGE FOUNDATION INC.

Totals

Total revenue
$13,714
Total expenses
$15,698
Contributions and grants received
$14,864
Grants paid
$0
Program service revenue
$0
Investment income
-$1,150
Other revenue
$0
Total assets, end of year
$4,473,435
Total liabilities, end of year
$2,619,266
Net assets or fund balances, end of year
$1,854,169
Program services expenses (Part IX)
$0
Management and general expenses
$15,698
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

    $14,864

  • 3 · Investment income

    total $84,118 · excluded $84,118

  • 7a · Gross sales of assets other than inventory

    securities $500,000

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

    securities $585,268

  • 7c · Gain or loss

    securities -$85,268

  • 7d · Net gain or loss

    total -$85,268 · excluded -$85,268

Functional expenses

Part IX, the statement of functional expenses.

  • 11f · Fees: investment management

    total $15,698 · management and general $15,698

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $18,467 · end of year $570,379

  • 9 · Prepaid expenses and deferred charges

    end of year $32,116

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

    $4,849,302

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

    $3,579,619

  • 10c · Land, buildings and equipment, net

    beginning of year $1,306,512 · end of year $1,269,683

  • 11 · Investments: publicly traded securities

    beginning of year $2,876,390 · end of year $2,566,821

  • 15 · Other assets

    beginning of year $34,437 · end of year $34,436

  • 17 · Accounts payable and accrued expenses

    beginning of year $94,392 · end of year $94,392

  • 18 · Grants payable

    end of year $32,116

  • 25 · Other liabilities

    beginning of year $2,528,753 · end of year $2,492,758

  • 27 · Net assets without donor restrictions

    beginning of year -$923,151 · end of year -$923,151

  • 28 · Net assets with donor restrictions

    beginning of year $2,535,812 · end of year $2,777,320

Mission and programs · 2023

Mission

TO SUPPORT THE EDUCATIONAL PURPOSES OF MONTREAT COLLEGE

  • FUNDS TRANSFERRED TO MONTREAT COLLEGE IN SUPPORT OF THE COLLEGE'S HIGHER EDUCATION PROGRAMS.

As filed on the 2023 return.

Listed in Part VII

  • Beau Moffatt

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Claire Efrid

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Dayle Seneff

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Paul Maurer

    CEO

    Total calculated
    $335,288
    From this org
    $0
    From related orgs
    $313,144
    Other
    $22,144
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $277,144 related
    Bonus
    $0
    Other
    $0 + $36,000 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $22,144 related
    Filer's total
    $0 + $335,288 related

  • John Beaghan

    CFO

    Total calculated
    $189,902
    From this org
    $0
    From related orgs
    $173,761
    Other
    $16,141
    Hours/week
    1 + 51 related

    Schedule J breakdown matched by us

    Base
    $0 + $173,761 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $16,141 related
    Filer's total
    $0 + $189,902 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

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

The filer's explanations (Part III)

PART I, LINE 3
ALL COMPENSTAION IS PAID BY THE RELATED ORGANIZATION. THE RELATED ORGANIZATION USES COMPARABILITY DATA FROM FORMS 990 OF OTHER SIMILAR ORGANIZATIONS AND FROM A COMPENSATION STUDY TO DETERMINE THE SALARIES FOR THE PRESIDENT/CEO AND OTHER OFFICERS. THE PRESIDENT/CEO'S SALARY IS DETERMINED AND APPROVED BY THE INDEPENDENT BOARD OF DIRECTORS ANNUALLY AFTER REVIEWING COMPARABILITY DATA.

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
29 April 2025
IRS schema version
2023v6.0
Source object
202501259349300340

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