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Nonprofiteer
← UNIVERSITY OF THE SOUTHWEST FOUNDATION

Form 990 for tax year 2023

Filed by UNIVERSITY OF THE SOUTHWEST FOUNDATION.

Totals

Total revenue
$3,066,523
Total expenses
$523,361
Contributions and grants received
$1,445,425
Grants paid
$523,361
Program service revenue
$0
Investment income
$1,003,404
Other revenue
$617,694
Total assets, end of year
$20,411,212
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$20,411,212
Program services expenses (Part IX)
$523,361
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$523,361

Program services were 100.0% 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.

  • 1d · Related organizations

    $400,000

  • 1f · All other contributions, gifts and grants

    $1,045,425

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $301,174 · excluded $301,174

  • 5 · Royalties

    total $617,694 · excluded $617,694

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $875,544

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

    securities $173,314

  • 7c · Gain or loss

    securities $702,230 · other assets $0

  • 7d · Net gain or loss

    total $702,230 · excluded $702,230

  • 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 $523,361 · program services $523,361

  • 11g · Fees: other

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

  • 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 $226,704 · end of year $105,834

  • 2 · Savings and temporary cash investments

    beginning of year $105,340 · end of year $90,851

  • 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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $12,637,686 · end of year $17,586,451

  • 12 · Investments: other securities

    beginning of year $2,392,627 · end of year $2,628,076

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $508,807 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $12,619,604 · end of year $15,511,642

  • 28 · Net assets with donor restrictions

    beginning of year $3,251,560 · end of year $4,899,570

Mission and programs · 2023

Mission

To support the mission and operations of University of the Southwest, a Christ-centered educational community dedicated to developing men and women for a lifetime of servant leadership by emphasizing faith, responsibility and initiative.

Activities or mission (Part I)

To support the mission and operations of University of the Southwest.

  • Support the mission and operation of University of the Southwest by providing funds for scholarships and operations.

    Expenses $523,361 · Grants $523,361

As filed on the 2023 return.

Listed in Part VII

  • Dr Ryan Tipton

    CEO

    Total calculated
    $260,528
    From this org
    $0
    From related orgs
    $247,900
    Other
    $12,628
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $247,900 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $12,628 related
    Filer's total
    $0 + $260,528 related

  • Larry Gandy

    Vice-Chair

    Total calculated
    $0
    Hours/week
    1

  • Michael Pearson

    Chair

    Total calculated
    $0
    Hours/week
    1

  • Summer North Wright

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Lee Roberson

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Lisa Hardison

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • R Finn Smith

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Randy Hobbs

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Samuel S Spencer Jr

    Board member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Paula Smith

    Treasurer

    Total calculated
    $158,180
    From this org
    $0
    From related orgs
    $143,702
    Other
    $14,478
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $143,702 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $14,478 related
    Filer's total
    $0 + $158,180 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

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
3 December 2024
IRS schema version
2023v5.1
Source object
202413389349301231

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