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← SPOKANE AREA BUSINESS FOUNDATION

Form 990 for tax year 2022

Filed by SPOKANE AREA BUSINESS FOUNDATION.

Totals

Total revenue
$272,835
Total expenses
$69,804
Contributions and grants received
$272,720
Grants paid
$69,804
Program service revenue
$0
Investment income
$115
Other revenue
$0
Total assets, end of year
$583,779
Total liabilities, end of year
$16,860
Net assets or fund balances, end of year
$566,919
Program services expenses (Part IX)
$69,804
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$69,804

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $272,720

  • 2f · All other program service revenue

    total $0 · related or exempt $0

  • 3 · Investment income

    total $115 · related or exempt $115 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,636 · program services $5,636

  • 2 · Grants to domestic individuals

    total $64,168 · program services $64,168

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $366,933 · end of year $583,779

  • 4 · Accounts receivable

    beginning of year $18,613

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,320 · end of year $2,250

  • 25 · Other liabilities

    beginning of year $21,487 · end of year $14,610

  • 27 · Net assets without donor restrictions

    beginning of year $361,739 · end of year $462,144

  • 28 · Net assets with donor restrictions

    end of year $104,775

Mission and programs · 2022

Mission

The purpose of the Spokane Area Business Foundation is to advance the quality of life in the greater Spokane region by building support for programs that strengthen education, develop civic leadership, support cultural diversity, improve economic and community research, and build civic capital.

  • Operation Spokane Heroes: Volunteer Committee identifies and fulfills needs of veterans based upon referrals from other organizations that provide services to veterans.

    Expenses $64,168 · Grants $64,168 · Revenue $37,720

  • Education Programs: Including Science, Technology, Engineering and Mathematics (STEM) program and the Greater Minds program to increase the number of adults completing undergraduate programs in the Spokane area.

    Expenses $5,636 · Grants $5,636

  • Believe Spokane is a five-year campaign to increase economic vitality with a focus on economic development and talent attraction and retention focused on growth, equity, and agility.

    Revenue $200,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alisha Benson

    CEO & Trustee

    Total calculated
    $252,956
    From this org
    $0
    From related orgs
    $233,193
    Other
    $19,763
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,493 related
    Bonus
    $0 + $20,700 related
    Other
    $0
    Deferred
    not reported + $11,660 related
    Nontaxable benefits
    $0 + $8,103 related
    Filer's total
    $0 + $252,956 related

  • Carlo Cicero

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • William Symmes

    General Counsel

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Paul Reed

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Marcelo Morales

    Trustee

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Charlotte Nemec

    Secretary Treasurer

    Total calculated
    $0
    Hours/week
    1 + 1 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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract

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
  • 9 · Followed the rebuttable-presumption procedure

The filer's explanations (Part III)

Part I, Line 1a
Athletic Club dues

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.

  • Spokane Regional Chamber Commerce

    United States

Provenance

Return type
form_990
Tax year
2022
Filed
16 November 2023
IRS schema version
2022v5.0
Source object
202333199349327243

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