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Nonprofiteer
← UNITED METHODIST HIGHER EDUCATION FOUNDATION

Form 990 for tax year 2023

Filed by UNITED METHODIST HIGHER EDUCATION FOUNDATION.

Totals

Total revenue
$2,391,247
Total expenses
$2,736,377
Contributions and grants received
$374,121
Grants paid
$1,269,949
Program service revenue
$0
Investment income
$2,014,972
Other revenue
$2,154
Total assets, end of year
$61,866,679
Total liabilities, end of year
$531,422
Net assets or fund balances, end of year
$61,335,257
Program services expenses (Part IX)
$2,006,751
Management and general expenses
$355,970
Fundraising expenses
$373,656
Program service expenses (Part III)
$2,006,751

Program services were 73.3% 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

    $374,121

  • 3 · Investment income

    total $1,315,932 · excluded $1,315,932

  • 7a · Gross sales of assets other than inventory

    securities $699,926

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

    other assets $886

  • 7c · Gain or loss

    securities $699,926 · other assets -$886

  • 7d · Net gain or loss

    total $699,040 · related or exempt -$886 · excluded $699,926

  • 11a · Other revenue: MANAGEMENT FEES

    total $2,154 · related or exempt $2,154

  • 11e · Other revenue, total

    $2,154

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,269,949 · program services $1,269,949

  • 5 · Compensation of officers, directors and key employees

    total $216,284 · program services $64,885 · management and general $43,257 · fundraising $108,142

  • 7 · Other salaries and wages

    total $372,355 · program services $183,233 · management and general $100,014 · fundraising $89,108

  • 8 · Pension plan contributions

    total $66,960 · program services $28,224 · management and general $16,298 · fundraising $22,438

  • 9 · Other employee benefits

    total $117,953 · program services $49,719 · management and general $28,709 · fundraising $39,525

  • 10 · Payroll taxes

    total $26,067 · program services $10,987 · management and general $6,345 · fundraising $8,735

  • 11b · Fees: legal

    total $532 · management and general $532

  • 11c · Fees: accounting

    total $18,811 · management and general $18,811

  • 11f · Fees: investment management

    total $17,369 · program services $17,369

  • 12 · Advertising and promotion

    total $11,651 · program services $6,606 · management and general $1,121 · fundraising $3,924

  • 13 · Office expenses

    total $53,880 · program services $16,217 · management and general $12,865 · fundraising $24,798

  • 14 · Information technology

    total $28,390 · program services $14,792 · management and general $5,895 · fundraising $7,703

  • 16 · Occupancy

    total $125,297 · program services $33,252 · management and general $75,660 · fundraising $16,385

  • 17 · Travel

    total $44,131 · program services $13,795 · management and general $9,025 · fundraising $21,311

  • 19 · Conferences, conventions and meetings

    total $52,873 · program services $23,018 · management and general $13,775 · fundraising $16,080

  • 22 · Depreciation, depletion and amortization

    total $4,632 · program services $1,953 · management and general $1,127 · fundraising $1,552

  • 23 · Insurance

    total $18,537 · program services $3,689 · management and general $12,650 · fundraising $2,198

  • 24a · Other expenses: FIDUCIARY DISTRIBUTIONS

    total $217,802 · program services $210,802 · management and general $2,000 · fundraising $5,000

  • 24b · Other expenses: REIMBURSEMENT OF DFS SCH

    total $41,990 · program services $41,990

  • 24c · Other expenses: SERVICE CONTRACTS

    total $24,028 · program services $11,271 · management and general $6,000 · fundraising $6,757

  • 24d · Other expenses: MISCELLANEOUS

    total $5,000 · program services $5,000

  • 24e · All other expenses

    total $1,886 · management and general $1,886

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $263,615 · end of year $336,703

  • 9 · Prepaid expenses and deferred charges

    end of year $35,741

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

    $77,254

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

    $62,791

  • 10c · Land, buildings and equipment, net

    beginning of year $14,249 · end of year $14,463

  • 11 · Investments: publicly traded securities

    beginning of year $55,839,834 · end of year $61,030,900

  • 15 · Other assets

    beginning of year $585,192 · end of year $448,872

  • 17 · Accounts payable and accrued expenses

    beginning of year $314,218 · end of year $251,455

  • 25 · Other liabilities

    beginning of year $498,208 · end of year $279,967

  • 27 · Net assets without donor restrictions

    beginning of year $26,549,789 · end of year $29,516,195

  • 28 · Net assets with donor restrictions

    beginning of year $29,340,675 · end of year $31,819,062

Mission and programs · 2023

Mission

THE ORGANIZATION WAS ESTABLISHED TO DEVELOP AND MANAGE FUNDS FOR SCHOLARSHIPS FOR UNITED METHODIST STUDENTS ATTENDING UNITED METHODIST RELATED SCHOOLS.

Activities or mission (Part I)

UMHEF PROVIDES ON AVERAGE IN EXCESS OF 2 MILLION IN SCHOLARSHIP FUNDING THROUGH ITS COLLABORATIVE PROGRAMS. IN PURSUIT OF THAT GOAL, THE FOUNDATION HOSTS ENDOWMENT FUNDRAISING EVENTS AND PROGRAMS TO RAISE SCHOLARSHIP DOLLARS.

  • UNITED METHODIST DOLLARS FOR SCHOLARS PROVIDES MATCHING SCHOLARSHIPS FOR STUDENTS ATTENDING UNITED METHODIST-RELATED INSTITUTIONS. LOCAL UNITED METHODIST CHURCHES PROVIDE 1,000 TO A MEMBER STUDENT (TOTALING 411,000 IN 2023), THE UNITED METHODIST HIGHER EDUCATION FOUNDATION MATCHES EACH STUDENT'S 1,000, AND IN MOST INSTANCES THE UNITED METHODIST-RELATED EDUCATIONAL INSTITUTION MATCHES 1,000, BRINGING THE TOTAL AWARD TO 3,000 PER STUDENT. FURTHER, WITH A SELECT NUMBER OF UNITED METHODIST CONFERENCE FOUNDATIONS, THE AWARD IS MATCHED WITH AN ADDITIONAL 1,000 (TOTALING 250,596 IN 2023),BRINGING THE TOTAL AWARD TO 4,000 PER STUDENT. TOTAL SCHOLARSHIPS AWARDED BY UNITED METHODIST HIGHER EDUCATION FOUNDATION THROUGH THIS PROGRAM IN 2023 WERE 1,072,596.

    Expenses $2,006,751 · Grants $1,269,949

As filed on the 2023 return.

Listed in Part VII

  • Robert R Fletcher

    PRESIDENT/CE

    Total calculated
    $170,401
    From this org
    $128,190
    From related orgs
    $0
    Other
    $42,211
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,190
    Bonus
    not reported
    Other
    not reported
    Deferred
    $42,211
    Nontaxable benefits
    not reported
    Filer's total
    $170,401

  • Glenn C Andrew

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Jesse Ary

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Irma Clark

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • J Rowland Cook

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Cara Stultz Costello

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Herman Felton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Timothy Griffy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Molly Gabel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Joseph Harris

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tari Hughes

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Willie Johnson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • William N Johnston

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dr Ruth A Knox

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Kuan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kathi Austin Mahle

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Wayne Moy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Bruce Ough

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Sherron Shuffield

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Charles Thoele

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Javier Viera

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Bill Vogel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lorene Wilbur

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Melva Williams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Ken Yamada

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Nancy Young

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Greg Bergquist

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • Julie Childs

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jadd Masso

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Taylor

    TRUSTEE

    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

  • 1a · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
1 November 2024
IRS schema version
2023v5.0
Source object
202423119349302287

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