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← MILAGROS FOUNDATION

Form 990 for tax year 2023

Filed by MILAGROS FOUNDATION.

Totals

Total revenue
$622,700
Total expenses
$589,280
Contributions and grants received
$589,893
Grants paid
$368,020
Program service revenue
$0
Investment income
$16,529
Other revenue
$16,278
Total assets, end of year
$1,474,235
Total liabilities, end of year
$570
Net assets or fund balances, end of year
$1,473,665
Program services expenses (Part IX)
$550,621
Management and general expenses
$25,987
Fundraising expenses
$12,672
Program service expenses (Part III)
$550,621

Program services were 93.4% 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

    $589,893

  • 3 · Investment income

    total $15,420 · excluded $15,420

  • 5 · Royalties

    total $16,278 · excluded $16,278

  • 7a · Gross sales of assets other than inventory

    securities $447,598

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

    securities $446,489

  • 7c · Gain or loss

    securities $1,109

  • 7d · Net gain or loss

    total $1,109 · excluded $1,109

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $346,648 · program services $346,648

  • 3 · Grants to foreign organizations and individuals

    total $21,372 · program services $21,372

  • 5 · Compensation of officers, directors and key employees

    total $139,254 · program services $133,254 · management and general $6,000

  • 7 · Other salaries and wages

    total $31,652 · program services $10,445 · management and general $10,445 · fundraising $10,762

  • 10 · Payroll taxes

    total $13,205 · program services $8,715 · management and general $2,773 · fundraising $1,717

  • 11c · Fees: accounting

    total $4,193 · management and general $4,193

  • 11g · Fees: other

    total $5,561 · program services $5,056 · management and general $312 · fundraising $193

  • 12 · Advertising and promotion

    total $13,220 · program services $13,220

  • 13 · Office expenses

    total $2,050 · program services $1,025 · management and general $1,025

  • 17 · Travel

    total $9,412 · program services $9,412

  • 24e · All other expenses

    total $2,713 · program services $1,474 · management and general $1,239

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $102,105 · end of year $397,675

  • 2 · Savings and temporary cash investments

    beginning of year $21,190 · end of year $39,378

  • 7 · Other notes and loans receivable

    beginning of year $223,653 · end of year $0

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

    $641,591

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

    $12,427

  • 10c · Land, buildings and equipment, net

    beginning of year $629,164 · end of year $629,164

  • 11 · Investments: publicly traded securities

    beginning of year $680,343 · end of year $379,976

  • 15 · Other assets

    beginning of year $3,538 · end of year $28,042

  • 25 · Other liabilities

    beginning of year $595 · end of year $570

  • 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 $1,659,398 · end of year $1,473,665

Mission and programs · 2023

Mission

TO MAKE DISCIPLES OF ALL NATIONS BY WORKING WITH CHRISTIAN MINISTRIES IN DEVELOPING COUNTRIES AS THEY BUILD UP PROMISING STUDENT LEADERS BY PROVIDING UNIVERSITY EDUCATION AND DISCIPLESHIP EXPERIENCES.

Activities or mission (Part I)

TO MAKE DISCIPLES OF ALL NATIONS BY SUPPORTING CHRISTIAN MINISTRIES IN DEVELOPING COUNTRIES AS THEY BUILD UP PROMISING STUDENT LEADERS BY PROVIDING UNIVERSITY EDUCATION AND DISCIPLESHIP EXPERIENCES.

  • TO SUPPORT CHRISTIAN MINISTRIES IN DEVELOPING COUNTRIES AS THEY ARE BUILDING UP PROMISING STUDENT LEADERS BY PROVIDING UNIVERSITY EDUCATION AND DISCIPLESHIP EXPERIENCES.

    Expenses $550,621 · Grants $368,020

As filed on the 2023 return.

Listed in Part VII

  • W Wesley Perry

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Scott Steele

    BOARD PRESIDENT

    Total calculated
    $115,254
    From this org
    $115,254
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Aldo Felix

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ed Martin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bill Kirk

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Heather Simpson

    SECRETARY

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MIDLAND RELIEF LLC

    COVID-19 PANDEMIC SUPPORT · NC · income $0 · assets $0

    Directly controlled by MILAGROS FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202443179349307324

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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