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Nonprofiteer
← THE SALOPEK FOUNDATION

Form 990 for tax year 2023

Filed by THE SALOPEK FOUNDATION.

Totals

Total revenue
$496,861
Total expenses
$914,848
Contributions and grants received
$0
Grants paid
$250,000
Program service revenue
$0
Investment income
$125,958
Other revenue
$370,903
Total assets, end of year
$14,935,011
Total liabilities, end of year
$2,981,009
Net assets or fund balances, end of year
$11,954,002
Program services expenses (Part IX)
$250,000
Management and general expenses
$664,848
Fundraising expenses
$0
Program service expenses (Part III)
$250,000

Program services were 27.3% 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 $125,958 · excluded $125,958

  • 6a · Gross rents

    real property $370,903

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $370,903

  • 6d · Net rental income or loss

    total $370,903 · excluded $370,903

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $250,000 · program services $250,000

  • 11a · Fees: management

    total $23,163 · management and general $23,163

  • 11b · Fees: legal

    total $187 · management and general $187

  • 11c · Fees: accounting

    total $24,694 · management and general $24,694

  • 20 · Interest

    total $128,701 · management and general $128,701

  • 22 · Depreciation, depletion and amortization

    total $182,351 · management and general $182,351

  • 23 · Insurance

    total $16,215 · management and general $16,215

  • 24a · Other expenses: UTILITIES

    total $120,852 · management and general $120,852

  • 24b · Other expenses: ASSESSMENT FEES

    total $84,520 · management and general $84,520

  • 24c · Other expenses: PRUNING

    total $54,748 · management and general $54,748

  • 24d · Other expenses: PROPERTY TAXES

    total $27,731 · management and general $27,731

  • 24e · All other expenses

    total $1,686 · management and general $1,686

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $80,460 · end of year $184,184

  • 7 · Other notes and loans receivable

    beginning of year $1,339,314 · end of year $1,274,701

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

    $16,448,156

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

    $2,973,030

  • 10c · Land, buildings and equipment, net

    beginning of year $13,308,951 · end of year $13,475,126

  • 12 · Investments: other securities

    beginning of year $1,000 · end of year $1,000

  • 23 · Secured mortgages and notes payable

    beginning of year $2,357,736 · end of year $2,981,009

  • 29 · Capital stock, trust principal or current funds

    beginning of year $9,843,638 · end of year $9,843,638

  • 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 $2,528,351 · end of year $2,110,364

Mission and programs · 2023

Mission

SUPPORT, MANAGE, AND FUND EDUCATIONAL PROGRAMS OF NEW MEXICO STATE UNIVERSITY AND TEXAS A&M UNIVERSITY WHICH, BUT FOR THIS ORGANIZATION, WOULD BE ENGAGED IN BY THE UNIVERSITIES THEMSELVES. THIS INCLUDES, BUT IS NOT LIMITED TO, SCHOLARSHIP PROGRAMS AND RESEARCH PROGRAMS.

  • TEXAS A&M UNIVERSITY FUNDING AND MANAGEMENT FOR RESEARCH ACTIVITIES IN THE COLLEGE OF AGRICULTURE & LIFE SCIENCES

    Expenses $50,000 · Grants $50,000

  • NEW MEXICO STATE UNIVERSITY FUNDING AND MANAGEMENT FOR STUDENT AID AND RESEARCH ACTIVITIES IN THE COLLEGE OF AGRICULTURE, CONSUMER & ENVIRONMENTAL SCIENCE.

    Expenses $200,000 · Grants $200,000

As filed on the 2023 return.

Listed in Part VII

  • Benjamin G Salopek

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • M Dustin Salopek

    VP, SEC/TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Brad E Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr George Ray McEachern

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

  • NEW MEXICO STATE UNIVERSITY

    $200,000

    SCHOLARSHIP AND RESEARCH PROGRAMS IN THE COLLEGE OF AGRICULTURAL, CONSUMER & ENVIRONMENTAL SCIENCE

  • TEXAS A&M UNIVERSITY

    $50,000

    RESEARCH PROGRAMS IN THE COLLEGE OF AGRICULTURE & LIFE SCIENCES

Provenance

Return type
form_990
Tax year
2023
Filed
10 May 2024
IRS schema version
2023v5.0
Source object
202401349349308915

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