Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $321,879

• 3 · Investment income

  total $55,062 · excluded $55,062

• 7a · Gross sales of assets other than inventory

  securities $13,342

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

  securities $56,271

• 7c · Gain or loss

  securities -$42,929

• 7d · Net gain or loss

  total -$42,929 · excluded -$42,929

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $182,000 · program services $182,000

• 11c · Fees: accounting

  total $1,900 · program services $1,900

• 11f · Fees: investment management

  total $7,194 · management and general $7,194

• 11g · Fees: other

  total $6,200 · program services $6,200

• 12 · Advertising and promotion

  total $589 · program services $589

• 13 · Office expenses

  total $17,366 · program services $10,338 · management and general $7,028

• 14 · Information technology

  total $8,814 · program services $8,814

• 19 · Conferences, conventions and meetings

  total $9,751 · program services $9,751

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $461,565 · end of year $553,256

• 3 · Pledges and grants receivable

  beginning of year $57,895 · end of year $0

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

  $7,475

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

  $7,475

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $3,148,687 · end of year $3,911,412

• 12 · Investments: other securities

  beginning of year $2,376 · end of year $691

• 15 · Other assets

  beginning of year $12,165 · end of year $32,397

• 17 · Accounts payable and accrued expenses

  beginning of year $0 · end of year $1,500

• 21 · Escrow or custodial account liability

  beginning of year $1,988,524 · end of year $2,567,854

• 25 · Other liabilities

  beginning of year $121,692 · end of year $97,610

• 27 · Net assets without donor restrictions

  beginning of year $1,219,854 · end of year $1,419,876

• 28 · Net assets with donor restrictions

  beginning of year $352,618 · end of year $410,916

The filer's explanations (Part III)

PART I, LINE 3

THE FOUNDATION DOES NOT DIRECTLY HIRE OR COMPENSATE EMPLOYEES. ALL EMPLOYEES ARE EMPLOYEES OF THE SOCIETY OF AMERICAN MILITARY ENGINEERS (SAME), A RELATED ORGANIZATION EXEMPT UNDER SECTION 501(C)(3). SAME HAS ESTABLISHED A COMPENSATION COMMITTEE CONSISTING OF THREE BOARD MEMBERS; PRESIDENT (ELECTED), VICE PRESIDENT (ELECTED), AND PAST PRESIDENT (ELECTED) TO REVIEW THE SALARY AND COMPENSATION PACKAGE OF THE EXECUTIVE DIRECTOR USING VARIOUS CRITERIA. SALARY SURVEYS ARE REVIEWED ANNUALLY. THE COMPENSATION COMMITTEE EVALUATES PERFORMANCE AGAINST MAJOR ELEMENTS OF THE POSITION DESCRIPTION AND DETERMINES THE APPROPRIATE SALARY ADJUSTMENTS AND BONUS. EMAIL DOCUMENTATION IS PROVIDED ON THIS DETERMINATION.