Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $6,172,886

• 2a · Program service revenue: MANAGEMENT FEES

  total $4,839,579 · related or exempt $4,839,579

• 3 · Investment income

  total $203,776 · excluded $203,776

• 7a · Gross sales of assets other than inventory

  securities $4,805,215

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

  securities $5,029,567

• 7c · Gain or loss

  securities -$224,352

• 7d · Net gain or loss

  total -$224,352 · excluded -$224,352

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,170,724 · program services $1,170,724

• 7 · Other salaries and wages

  total $2,403,082 · program services $2,403,082

• 9 · Other employee benefits

  total $260,074 · program services $260,074

• 10 · Payroll taxes

  total $193,991 · program services $193,991

• 11b · Fees: legal

  total $17,996 · management and general $17,996

• 11c · Fees: accounting

  total $97,324 · management and general $97,324

• 11f · Fees: investment management

  total $1,869 · management and general $1,869

• 11g · Fees: other

  total $128,400 · management and general $128,400

• 13 · Office expenses

  total $900 · program services $900

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $267,028 · end of year $178,528

• 4 · Accounts receivable

  beginning of year $104,515 · end of year $166,837

• 9 · Prepaid expenses and deferred charges

  beginning of year $17,630 · end of year $28,905

• 11 · Investments: publicly traded securities

  beginning of year $4,812,198 · end of year $4,717,443

• 15 · Other assets

  beginning of year $111,145 · end of year $7,586,633

• 17 · Accounts payable and accrued expenses

  beginning of year $115,047 · end of year $665,387

• 27 · Net assets without donor restrictions

  beginning of year $5,197,469 · end of year $12,012,959

The filer's explanations (Part III)

PART I, LINE 7

BONUSES ARE NON-FIXED PAYMENTS WHICH ARE BASED UPON PERFORMANCE AND ATTAINING GOALS SET DURING THE YEAR. THE PRESIDENT & CEO'S BONUS IS DETERMINED THROUGH THE COMPENSATION COMMITTEE OF THE BOARD. THE ORGANIZATION ALSO UTILIZES AN HR CONSULTING COMPANY TO ARRIVE AT A COMPENSATION LEVELS THAT INCORPORATE FOR PROFIT AND NON PROFIT SALARY RANGES FOR SIMILAR POSITIONS FOR BOTH THE PRESIDENT & CEO AND ALL SENIOR MANAGEMENT. ALL SENIOR MANAGEMENT SALARIES ARE WITHIN SUCH RANGES, AND IN ADDITION ALL SENIOR MANAGEMENT IS REVIEWED ANNUALLY FOR BOTH MERIT AND BONUS BY THE PRESIDENT & CEO.