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Nonprofiteer
← SWEETWATER ACTION FUND

Form 990 for tax year 2024

Filed by SWEETWATER ACTION FUND.

Totals

Total revenue
$17,954,077
Total expenses
$19,040,572
Contributions and grants received
$0
Grants paid
$19,000,000
Program service revenue
$0
Investment income
$17,954,077
Other revenue
$0
Total assets, end of year
$22,323,464
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$22,323,464
Program services expenses (Part IX)
$19,018,075
Management and general expenses
$22,497
Fundraising expenses
$0
Program service expenses (Part III)
$19,018,075

Program services were 99.9% 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.

  • 3 · Investment income

    total $638,498 · unrelated business $0 · excluded $638,498

  • 7a · Gross sales of assets other than inventory

    securities $37,193,292

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

    securities $19,877,713

  • 7c · Gain or loss

    securities $17,315,579

  • 7d · Net gain or loss

    total $17,315,579 · related or exempt $0 · unrelated business $0 · excluded $17,315,579

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $19,000,000 · program services $19,000,000

  • 11b · Fees: legal

    total $5,466 · program services $0 · management and general $5,466 · fundraising $0

  • 11c · Fees: accounting

    total $18,075 · program services $18,075 · management and general $0 · fundraising $0

  • 11f · Fees: investment management

    total $15,800 · program services $0 · management and general $15,800 · fundraising $0

  • 13 · Office expenses

    total $371 · program services $0 · management and general $371 · fundraising $0

  • 24a · Other expenses: Foreign tax fees

    total $173 · program services $0 · management and general $173 · fundraising $0

  • 24b · Other expenses: State registration fees

    total $309 · program services $0 · management and general $309 · fundraising $0

  • 24c · Other expenses: Software

    total $378 · program services $0 · management and general $378 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,739 · end of year $4,895

  • 4 · Accounts receivable

    beginning of year $6,516 · end of year $461

  • 11 · Investments: publicly traded securities

    beginning of year $3,922,932 · end of year $2,892,688

  • 12 · Investments: other securities

    beginning of year $31,929,979 · end of year $19,425,420

  • 31 · Retained earnings, endowment or other funds

    beginning of year $35,863,166 · end of year $22,323,464

Mission and programs · 2024

Mission

Promotion of social welfare to other 501(c) (3) and (c) (4) organizations.

  • The organizations principal activity will be the promotion of social welfare through the provision of strategic and financial support to other organizations that support the organizations mission and are exempt under sections 501(c)(3) or 501(c)(4). Current activities center on developing program goals.

    Expenses $19,018,075 · Grants $19,000,000

As filed on the 2024 return.

Listed in Part VII

  • Maluhia Froom

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Mary C Acker

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    1

  • David J Korotkin

    Assistant Secretary

    Total calculated
    $0
    Hours/week
    0.25

  • Roberta Bainum

    President and Director

    Total calculated
    $0
    Hours/week
    0.25

  • Eric Froom

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Rachel Everett

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Ryan Froom

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Alexander Froom

    Director

    Total calculated
    $0
    Hours/week
    0.25

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.

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
2024
Filed
14 May 2025
IRS schema version
2024v5.1
Source object
202531349349302088

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