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Nonprofiteer
← UNITED METHODIST FOUNDATION OF INDIANA INC

Form 990 for tax year 2023

Filed by UNITED METHODIST FOUNDATION OF INDIANA INC.

Totals

Total revenue
$2,034,673
Total expenses
$2,601,672
Contributions and grants received
$304,550
Grants paid
$1,293,036
Program service revenue
$1,179,640
Investment income
$544,498
Other revenue
$5,985
Total assets, end of year
$105,455,417
Total liabilities, end of year
$79,614,593
Net assets or fund balances, end of year
$25,840,824
Program services expenses (Part IX)
$1,698,196
Management and general expenses
$899,576
Fundraising expenses
$3,900
Program service expenses (Part III)
$1,698,196

Program services were 65.3% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $304,550

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Management Fees

    total $740,800 · related or exempt $740,800 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Net Interest Income from mortgage notes receivable

    total $438,840 · related or exempt $438,840 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $544,498 · related or exempt $544,498 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $5,985 · related or exempt $5,985 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $5,985

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,000,377 · program services $1,000,377

  • 2 · Grants to domestic individuals

    total $292,659 · program services $292,659

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $156,794 · program services $64,238 · management and general $92,164 · fundraising $392

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $574,363 · program services $198,565 · management and general $373,182 · fundraising $2,616

  • 8 · Pension plan contributions

    total $56,908 · program services $19,978 · management and general $36,534 · fundraising $396

  • 9 · Other employee benefits

    total $49,229 · program services $20,378 · management and general $28,598 · fundraising $253

  • 10 · Payroll taxes

    total $40,916 · program services $15,972 · management and general $24,701 · fundraising $243

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $20,930 · program services $19,680 · management and general $1,250 · fundraising $0

  • 11c · Fees: accounting

    total $54,362 · program services $17,723 · management and general $36,639 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $45,933 · program services $0 · management and general $45,933 · fundraising $0

  • 11g · Fees: other

    total $10,200 · program services $5,475 · management and general $4,725 · fundraising $0

  • 12 · Advertising and promotion

    total $2,785 · program services $0 · management and general $2,785 · fundraising $0

  • 13 · Office expenses

    total $19,744 · program services $13,610 · management and general $6,134 · fundraising $0

  • 14 · Information technology

    total $54,985 · program services $11,759 · management and general $43,226 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $107,389 · program services $781 · management and general $106,608 · fundraising $0

  • 17 · Travel

    total $19,142 · program services $14,644 · management and general $4,498 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $6,082 · program services $2,357 · management and general $3,725 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $24,187 · program services $0 · management and general $24,187 · fundraising $0

  • 23 · Insurance

    total $5,426 · program services $0 · management and general $5,426 · fundraising $0

  • 24e · All other expenses

    total $59,261 · program services $0 · management and general $59,261 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $969,875 · end of year $920,843

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $26,289 · end of year $27,457

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $22,997,629 · end of year $19,191,508

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $489,466 · end of year $247,844

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

    $168,403

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

    $143,429

  • 10c · Land, buildings and equipment, net

    beginning of year $49,161 · end of year $24,974

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $54,230,014 · end of year $58,928,645

  • 13 · Investments: program-related

    beginning of year $23,942,495 · end of year $26,114,146

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $339,932 · end of year $715,520

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $53,039,769 · end of year $57,494,032

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $750,000 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $25,259,008 · end of year $21,405,041

  • 27 · Net assets without donor restrictions

    beginning of year $5,123,100 · end of year $5,734,041

  • 28 · Net assets with donor restrictions

    beginning of year $18,193,120 · end of year $20,106,783

Mission and programs · 2023

Mission

Resourcing mission and ministry of United Methodist and other Weslyan-based churches in Indiana through stewardship development.

Activities or mission (Part I)

Resourcing the mission and ministry of United Methodist and other Wesleyan-based churches in Indiana in the area of stewardship.

  • The first program is General Services. The Foundation serves United Methodist and other Wesleyan-based churches, agencies, and members in the following ways: It provides investment management services to local churches, agencies, and boards. It assists local churches in developing, promoting, and managing their endowment programs. It provides educational seminars on stewardship, planned giving, estate planning, capital campaigns, and related subjects. It provides administrative services for donors making deferred gifts to their church or a church related mission or ministry.

    Expenses $213,285 · Revenue $816,562

  • The second program area is legacy grants. The Foundation acts as trustee and administers funds for the benefit of local churches and church related ministries and missions. It manages and administers endowment funds of the Foundation and distributes earnings. It evaluates grant requests, selects qualified recipients, and makes disbursements to qualified recipients. In general it supports the church's evangelical and social service programs, aims, and purposes of the United Methodist denomination in Indiana.

    Expenses $1,293,036 · Grants $952,767 · Revenue $2,956,663

  • The third program is the Loan and Savings Ministry. The Loan and Savings Ministry provides funding to United Methodist and other Wesleyan-based churches and agencies in Indiana to purchase, build, or repair projects related to their church buildings and parsonages.

    Expenses $191,875 · Grants $2,300 · Revenue $556,344

As filed on the 2023 return.

Listed in Part VII

  • D Manet Shettle

    President

    Total calculated
    $190,044
    From this org
    $156,794
    From related orgs
    $0
    Other
    $33,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $156,794
    Bonus
    $0
    Other
    $0
    Deferred
    $14,850
    Nontaxable benefits
    $18,400
    Filer's total
    $190,044

  • Dave Berry

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Monte Chamberlin

    Chair

    Total calculated
    $0
    Hours/week
    1

  • John Clay

    Director

    Total calculated
    $0
    Hours/week
    1

  • Teri Crouse

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Karla Elliott

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Daryl Gilbert

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Shalimar Holderly

    Director

    Total calculated
    $0
    Hours/week
    1

  • Shelley Johnson

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Chris Lantz

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Jeff Lorentson

    Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • James Need

    Director

    Total calculated
    $0
    Hours/week
    1

  • Larry Price

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Larna Spearman

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Lee White

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Larry Whitehead

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Craig Wood

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Margaret Wood

    Director

    Total calculated
    $0
    Hours/week
    0.5

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 committee
  • 3 · Approval by the board or compensation committee

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
  • 5b · Pay contingent on a related 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

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.

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.

  • IN Loan and Savings Ministry LLC

    Loaning funds to churches and agencies in Indiana · IN · income $556,344 · assets $22,416,689

    Directly controlled by United Methodist Foundation of Indiana Inc

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2024
IRS schema version
2023v5.0
Source object
202401809349301200

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

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