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Nonprofiteer
← CAPSTONE LEGACY FOUNDATION INC

Form 990 for tax year 2023

Filed by CAPSTONE LEGACY FOUNDATION INC.

Totals

Total revenue
$3,093,166
Total expenses
$3,321,554
Contributions and grants received
$1,894,156
Grants paid
$1,315,570
Program service revenue
$126,005
Investment income
$450,113
Other revenue
$622,892
Total assets, end of year
$5,393,666
Total liabilities, end of year
$751,584
Net assets or fund balances, end of year
$4,642,082
Program services expenses (Part IX)
$2,555,735
Management and general expenses
$356,328
Fundraising expenses
$409,491
Program service expenses (Part III)
$2,555,735

Program services were 76.9% 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.

  • 1f · All other contributions, gifts and grants

    $1,894,156

  • 1g · Noncash contributions included above

    $46,602

  • 2a · Program service revenue: Educational Events

    total $126,005 · related or exempt $126,005

  • 3 · Investment income

    total $450,113 · related or exempt $450,113

  • 5 · Royalties

    total $622,524 · related or exempt $622,524

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: All other income

    total $368 · related or exempt $368

  • 11e · Other revenue, total

    $368

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,315,570 · program services $1,315,570

  • 5 · Compensation of officers, directors and key employees

    total $301,953 · program services $177,810 · management and general $82,769 · fundraising $41,374

  • 7 · Other salaries and wages

    total $390,301 · program services $229,835 · management and general $106,987 · fundraising $53,479

  • 9 · Other employee benefits

    total $9,161 · program services $5,435 · management and general $2,484 · fundraising $1,242

  • 10 · Payroll taxes

    total $56,476 · program services $33,257 · management and general $15,481 · fundraising $7,738

  • 11a · Fees: management

    total $75,212 · program services $65,972 · management and general $4,620 · fundraising $4,620

  • 11b · Fees: legal

    total $71,544 · program services $55,589 · management and general $13,379 · fundraising $2,576

  • 11c · Fees: accounting

    total $22,025 · program services $17,113 · management and general $4,119 · fundraising $793

  • 12 · Advertising and promotion

    total $386,001 · program services $334,277 · management and general $25,862 · fundraising $25,862

  • 13 · Office expenses

    total $53,428 · program services $34,728 · management and general $13,357 · fundraising $5,343

  • 14 · Information technology

    total $100,561 · program services $38,917 · management and general $22,928 · fundraising $38,716

  • 16 · Occupancy

    total $79,341 · program services $46,811 · management and general $13,171 · fundraising $19,359

  • 17 · Travel

    total $64,972 · program services $38,334 · management and general $10,785 · fundraising $15,853

  • 19 · Conferences, conventions and meetings

    total $256,178 · program services $98,116 · management and general $4,355 · fundraising $153,707

  • 20 · Interest

    total $36,370 · program services $21,422 · management and general $9,965 · fundraising $4,983

  • 22 · Depreciation, depletion and amortization

    total $35,844 · program services $21,112 · management and general $9,821 · fundraising $4,911

  • 23 · Insurance

    total $36,528 · program services $18,264 · management and general $9,132 · fundraising $9,132

  • 24a · Other expenses: Bank Fees

    total $15,863 · program services $3,173 · fundraising $12,690

  • 24e · All other expenses

    total $14,226 · management and general $7,113 · fundraising $7,113

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $263,865 · end of year $330,068

  • 2 · Savings and temporary cash investments

    beginning of year $285,996 · end of year $384,803

  • 3 · Pledges and grants receivable

    end of year $15,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $73,157 · end of year $2,848

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

    $1,054,952

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

    $256,385

  • 10c · Land, buildings and equipment, net

    beginning of year $822,119 · end of year $798,567

  • 11 · Investments: publicly traded securities

    beginning of year $2,397,169 · end of year $2,190,979

  • 12 · Investments: other securities

    beginning of year $1,257,888 · end of year $1,645,122

  • 13 · Investments: program-related

    beginning of year $25,120 · end of year $23,449

  • 15 · Other assets

    beginning of year $2,830 · end of year $2,830

  • 17 · Accounts payable and accrued expenses

    beginning of year $57,076 · end of year $49,551

  • 18 · Grants payable

    beginning of year $35,730 · end of year $25,000

  • 23 · Secured mortgages and notes payable

    beginning of year $662,122 · end of year $644,761

  • 25 · Other liabilities

    beginning of year $36,796 · end of year $32,272

  • 27 · Net assets without donor restrictions

    beginning of year $4,083,169 · end of year $4,254,744

  • 28 · Net assets with donor restrictions

    beginning of year $253,251 · end of year $387,338

Mission and programs · 2023

Mission

The foundation provides donors with assistance in philantropy, and provides funding and advocacy for ministries and other charities. See also Capstone Legacy Fdn Storehouse and Charitable Trust I

Activities or mission (Part I)

The foundation provides donors with assistance in philanthropy and provides service and advocacy for ministries and other non profits

  • Donor services provided primarily through donor advised funds with grants to non-profit charitable organizations operated for Christian charitable religious and educational purposes. Revenue shown here is classified as contributions in Part I and Part VIII of form 990.

    Expenses $1,759,652 · Grants $1,302,870 · Revenue $698,779

  • Socrates in the City, a fiscal sponsorship project, holds various live broadcast events in various locations nationally and internationally, hosting conversations on life, God and other topics with notable thinkers in a dialogue format before live audiences. The events are educational, and are designed to create a forum that encourages busy professionals and others in thinking about the bigger questions in life. In addition, the conversations are printed for distribution and available through various media platforms. Revenue shown here is classified as contributions in part I and VIII of form 990.

    Expenses $320,942 · Revenue $489,153

  • American Pastors Network and state chapters are a fiscal sponsorship project. They educate and foster support for spiritual and cultural issues in the forefront of pastoral ministries nationally reaching audiences through radio and TV broadcasts. Revenue shown here is classified as contributions in Part I and Part VIII of form 990.

    Expenses $295,015 · Grants $1,700 · Revenue $447,045

  • Revenue and expense of a variety of other projects and funds

    Expenses $180,126 · Revenue $180,583

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nancy H Hansen

    Chairperson and CEO

    Total calculated
    $111,500
    From this org
    $111,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    30 + 2 related

    Schedule J breakdown matched by us

    Base
    $111,500
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $111,500

  • Thomas W Keyser

    Chief Financial Office

    Total calculated
    $94,315
    From this org
    $94,315
    From related orgs
    $0
    Other
    $0
    Hours/week
    36 + 2 related

    Schedule J breakdown matched by us

    Base
    $94,315
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $94,315

  • Merrill R Steiner

    SecretaryGen Counsel

    Total calculated
    $54,438
    From this org
    $54,438
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 2 related

    Schedule J breakdown matched by us

    Base
    $54,438
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $54,438

  • Robert T Claiborne

    Directoremployee

    Total calculated
    $25,500
    From this org
    $25,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

    Schedule J breakdown matched by us

    Base
    $25,500
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $25,500

  • Samuel E Rohrer

    Officer

    Total calculated
    $41,700
    From this org
    $41,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $41,700
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $41,700

  • George Meschter

    Director

    Total calculated
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Allen Carr Sr

    Director

    Total calculated
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Ben Myers

    Director

    Total calculated
    $0
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    not reported

  • Mary Anne Hatch

    DirectorExec VP

    Total calculated
    $41,667
    From this org
    $41,667
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

    Schedule J breakdown matched by us

    Base
    $41,667
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $41,667

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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 5b · Pay contingent on a related organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this 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 5a
Nancy H Hansen, CEO,
Part I, Line 5a
received compensation as
Part I, Line 5a
officer of an unrelated
Part I, Line 5a
private foundation.

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

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

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.

Disregarded entities

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

  • American Pastors Network

    Educational ministry to clergy and lay persons · AF · income $439,683 · assets $80,549

    Directly controlled by Capstone Legacy Fdn

  • North Carolina Pastors Network

    Educational ministry to pastors and lay people · DE

    Directly controlled by Capstone Legacy Fdn

  • Pennsylvania Pastors Network

    Educational ministry to pastors and lay people · DE

    Directly controlled by Capstone Legacy Fdn

  • Arkansas Pastors Network

    Educational ministry to clergy and lay people · DE

    Directly controlled by Capstone Legacy Fdn

  • Tennessee Pastors Network

    Educational ministry to clergy and lay people · DE · assets $1,941

    Directly controlled by Capstone Legacy Fdn

  • Kentucky Pastors Network

    Educational ministry to clergy and lay people · DE

    Directly controlled by Capstone Legacy Fdn

  • Michigan Pastors Network

    Educational ministry to clergy and lay people · DE

    Directly controlled by Capstone Legacy Fdn

  • Missouri Pastors Network

    Educational ministry to clergy and lay people · DE

    Directly controlled by Capstone Legacy Fdn

  • South Carolina Pastors Network

    Educational ministry to clergy and lay people · DE

    Directly controlled by Capstone Legacy Fdn

  • Virginia Pastors Network

    Educational ministry to clergy and lay people · DE

    Directly controlled by Capstone Legacy Fdn

  • West Virginia Pastors Network

    Educational ministry to clergy and lay people

    Directly controlled by Capstone Legacy Fdn

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202423189349302337

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