Form 990 for tax year 2022
Filed by UNITED METHODIST HIGHER EDUCATION FOUNDATION.
Totals
- Total revenue
- $2,034,614
- Total expenses
- $2,391,061
- Contributions and grants received
- $272,504
- Grants paid
- $1,175,195
- Program service revenue
- $0
- Investment income
- $1,762,110
- Other revenue
- $0
- Total assets, end of year
- $56,702,890
- Total liabilities, end of year
- $812,426
- Net assets or fund balances, end of year
- $55,890,464
- Program services expenses (Part IX)
- $1,747,262
- Management and general expenses
- $363,676
- Fundraising expenses
- $280,123
- Program service expenses (Part III)
- $1,747,262
Program services were 73.1% 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
$272,504
-
3 · Investment income
total $1,301,725 · excluded $1,301,725
-
7a · Gross sales of assets other than inventory
securities $460,385
-
7c · Gain or loss
securities $460,385
-
7d · Net gain or loss
total $460,385 · excluded $460,385
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $1,175,195 · program services $1,175,195
-
5 · Compensation of officers, directors and key employees
total $205,912 · program services $61,774 · management and general $41,182 · fundraising $102,956
-
7 · Other salaries and wages
total $320,032 · program services $164,260 · management and general $106,378 · fundraising $49,394
-
8 · Pension plan contributions
total $60,051 · program services $25,808 · management and general $16,848 · fundraising $17,395
-
9 · Other employee benefits
total $99,456 · program services $42,202 · management and general $37,682 · fundraising $19,572
-
10 · Payroll taxes
total $22,527 · program services $9,681 · management and general $6,320 · fundraising $6,526
-
11b · Fees: legal
total $850 · management and general $850
-
11c · Fees: accounting
total $18,169 · management and general $18,169
-
11f · Fees: investment management
total $17,034 · program services $17,034
-
12 · Advertising and promotion
total $12,507 · program services $11,518 · management and general $144 · fundraising $845
-
13 · Office expenses
total $44,939 · program services $13,346 · management and general $11,740 · fundraising $19,853
-
14 · Information technology
total $31,264 · program services $16,873 · management and general $7,479 · fundraising $6,912
-
16 · Occupancy
total $127,183 · program services $32,285 · management and general $78,266 · fundraising $16,632
-
17 · Travel
total $39,710 · program services $12,628 · management and general $7,942 · fundraising $19,140
-
19 · Conferences, conventions and meetings
total $13,359 · program services $6,467 · management and general $3,504 · fundraising $3,388
-
22 · Depreciation, depletion and amortization
total $4,178 · program services $1,796 · management and general $1,172 · fundraising $1,210
-
23 · Insurance
total $18,147 · program services $3,535 · management and general $13,139 · fundraising $1,473
-
24a · Other expenses: FIDUCIARY DISTRIBUTIONS
total $68,567 · program services $68,567
-
24b · Other expenses: SERVICE CONTRACTS
total $41,141 · program services $15,393 · management and general $10,922 · fundraising $14,826
-
24c · Other expenses: REIMBURSEMENT OF DFS SCH
total $40,825 · program services $40,825
-
24d · Other expenses: MISCELLANEOUS
total $28,078 · program services $28,075 · management and general $2 · fundraising $1
-
24e · All other expenses
total $1,937 · management and general $1,937
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $156,319 · end of year $263,615
-
10a · Land, buildings and equipment: cost or other basis
$74,451
-
10b · Land, buildings and equipment: accumulated depreciation
$60,202
-
10c · Land, buildings and equipment, net
beginning of year $9,510 · end of year $14,249
-
11 · Investments: publicly traded securities
beginning of year $69,910,018 · end of year $55,839,834
-
15 · Other assets
beginning of year $686,121 · end of year $585,192
-
17 · Accounts payable and accrued expenses
beginning of year $224,644 · end of year $314,218
-
25 · Other liabilities
beginning of year $654,947 · end of year $498,208
-
27 · Net assets without donor restrictions
beginning of year $34,547,269 · end of year $26,549,789
-
28 · Net assets with donor restrictions
beginning of year $35,335,108 · end of year $29,340,675
Mission and programs · 2022
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 468,000 IN 2022), 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 245,625 IN 2022),BRINGING THE TOTAL AWARD TO 4,000 PER STUDENT. TOTAL SCHOLARSHIPS AWARDED BY UNITED METHODIST HIGHER EDUCATION FOUNDATION THROUGH THIS PROGRAM IN 2022 WERE 1,181,625.
Expenses $1,747,262 · Grants $1,175,195
As filed on the 2022 return.
Listed in Part VII
-
Robert R FletcherROBERT R FLETCHER
PRESIDENT/CE
- Total calculated
- $172,027
- From this org
- $132,872
- From related orgs
- $0
- Other
- $39,155
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $132,872
- Bonus
- not reported
- Other
- not reported
- Deferred
- $39,155
- Nontaxable benefits
- not reported
- Filer's total
- $172,027
-
Glenn C AndrewGLENN C ANDREW
TREASURER
- Total calculated
- $0
-
Jesse AryJESSE ARY
TRUSTEE
- Total calculated
- $0
-
Dr Irma ClarkDR IRMA CLARK
TRUSTEE
- Total calculated
- $0
-
J Rowland CookJ ROWLAND COOK
TRUSTEE
- Total calculated
- $0
-
Cara Stultz CostelloCARA STULTZ COSTELLO
TRUSTEE
- Total calculated
- $0
-
Mary DeckerMARY DECKER
TRUSTEE
- Total calculated
- $0
-
Herman FeltonHERMAN FELTON
TRUSTEE
- Total calculated
- $0
-
Timothy GriffyTIMOTHY GRIFFY
TRUSTEE
- Total calculated
- $0
-
Molly GabelMOLLY GABEL
TRUSTEE
- Total calculated
- $0
-
Dr Joseph HarrisDR JOSEPH HARRIS
TRUSTEE
- Total calculated
- $0
-
Tari HughesTARI HUGHES
TRUSTEE
- Total calculated
- $0
-
Willie JohnsonWILLIE JOHNSON
TRUSTEE
- Total calculated
- $0
-
William N JohnstonWILLIAM N JOHNSTON
CHAIR
- Total calculated
- $0
-
Dr Ruth A KnoxDR RUTH A KNOX
TRUSTEE
- Total calculated
- $0
-
Jeffrey KuanJEFFREY KUAN
TRUSTEE
- Total calculated
- $0
-
Kathi Austin MahleKATHI AUSTIN MAHLE
TRUSTEE
- Total calculated
- $0
-
Bruce OughBRUCE OUGH
TRUSTEE
- Total calculated
- $0
-
Sidney StrebeckSIDNEY STREBECK
TRUSTEE
- Total calculated
- $0
-
Sherron ShuffieldSHERRON SHUFFIELD
TRUSTEE
- Total calculated
- $0
-
Javier VieraJAVIER VIERA
TRUSTEE
- Total calculated
- $0
-
Bill VogelBILL VOGEL
TRUSTEE
- Total calculated
- $0
-
Lorene WilburLORENE WILBUR
SECRETARY
- Total calculated
- $0
-
Dr Ken YamadaDR KEN YAMADA
TRUSTEE
- Total calculated
- $0
-
Greg BergquistGREG BERGQUIST
EX-OFFICIO
- Total calculated
- $0
-
Julie ChildsJULIE CHILDS
TRUSTEE
- Total calculated
- $0
-
Jadd MassoJADD MASSO
VICE CHAIR
- Total calculated
- $0
-
Jeffrey TaylorJEFFREY TAYLOR
TRUSTEE
- Total calculated
- $0
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
- 2022
- Filed
- 20 June 2023
- IRS schema version
- 2022v5.0
- Source object
- 202331719349301293
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