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← SHUMARD FOUNDATION INC

Form 990 for tax year 2024

Filed by SHUMARD FOUNDATION INC.

Totals

Total revenue
$7,592,669
Total expenses
$1,611,987
Contributions and grants received
$2,000
Grants paid
$1,534,030
Program service revenue
$0
Investment income
$7,576,844
Other revenue
$13,825
Total assets, end of year
$26,702,639
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$26,702,639
Program services expenses (Part IX)
$1,534,030
Management and general expenses
$77,957
Fundraising expenses
$0
Program service expenses (Part III)
$1,534,030

Program services were 95.2% 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

    $2,000

  • 3 · Investment income

    total $3,214,101 · excluded $3,214,101

  • 7a · Gross sales of assets other than inventory

    securities $5,558,981

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

    securities $1,196,238

  • 7c · Gain or loss

    securities $4,362,743

  • 7d · Net gain or loss

    total $4,362,743 · excluded $4,362,743

  • 11a · Other revenue: OTHER INCOME

    total $13,825 · excluded $13,825

  • 11e · Other revenue, total

    $13,825

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,534,030 · program services $1,534,030

  • 11b · Fees: legal

    total $50,938 · management and general $50,938

  • 11c · Fees: accounting

    total $1,148 · management and general $1,148

  • 11g · Fees: other

    total $30 · management and general $30

  • 19 · Conferences, conventions and meetings

    total $884 · management and general $884

  • 20 · Interest

    total $455 · management and general $455

  • 24a · Other expenses: ACCOUNT MANAGEMENT FEES

    total $22,721 · management and general $22,721

  • 24b · Other expenses: MISCELLANEOUS

    total $1,235 · management and general $1,235

  • 24c · Other expenses: FOREIGN TAXES PAID

    total $399 · management and general $399

  • 24d · Other expenses: POSTAGE & MAILING SERVI

    total $75 · management and general $75

  • 24e · All other expenses

    total $72 · management and general $72

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $327,223 · end of year $2,588,079

  • 7 · Other notes and loans receivable

    beginning of year $9,499,010 · end of year $8,129,442

  • 12 · Investments: other securities

    beginning of year $0 · end of year $6,191,363

  • 15 · Other assets

    beginning of year $10,872,138 · end of year $9,793,755

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $20,698,371 · end of year $26,702,639

Mission and programs · 2024

Mission

THE SHUMARD FOUNDATION, INC. SUPPORTS CHARITIES THAT ARE 501(C)(3) ORGANIZATIONS AND ARE QUALIFIED TO BE SUPPORTED BY THE SERVANT FOUNDATION, INC. DBA THE SIGNATRY.

Activities or mission (Part I)

TO PROVIDE FINANCIAL SUPPORT TO OR FOR THE BENEFIT OF THE SERVANT FOUNDATION, INC. DBA THE SIGNATRY.

  • THE SHUMARD FOUNDATION, INC. SUPPORTS CHARITIES THAT ARE 501(C)(3) ORGANIZATIONS AND ARE QUALIFIED TO BE SUPPORTED BY THE SERVANT FOUNDATION, INC. DBA THE SIGNATRY. SEE SCHEDULE I FOR A DETAILED LIST OF GRANTS TO QUALIFIED CHARITIES.

    Expenses $1,534,030 · Grants $1,534,030

As filed on the 2024 return.

Listed in Part VII

  • William J Long

    TRUSTEE/TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Joel Reed

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Dale Armstrong

    TRUSTEE

    Total calculated
    $336,955
    From this org
    $0
    From related orgs
    $314,972
    Other
    $21,983
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $224,328 related
    Bonus
    $0 + $90,644 related
    Other
    $0
    Deferred
    $0 + $9,230 related
    Nontaxable benefits
    $0 + $12,753 related
    Filer's total
    $0 + $336,955 related

  • Gary Long

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Curtis L Shumard

    TRUSTEE/ PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Kenneth M Shumard Jr

    TRUSTEE/ SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Theresa Long

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Julie S Potts

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Robert B Shumard

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

PART I, LINE 4B
SIGNATRY DESIGNED DALE ARMSTRONG'S COMPENSATION

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CREOLA II INC

    C · INVESTMENT HOLDING COMPANY · GA · 100% owned · share of assets $10,461,476 · controlled entity

    Directly controlled by THE SHUMARD FOUNDATION

Provenance

Return type
form_990
Tax year
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202523169349303182

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