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← BUCKINGHAM FOUNDATION INC

Form 990 for tax year 2024

Filed by BUCKINGHAM FOUNDATION INC.

Totals

Total revenue
$5,600,901
Total expenses
$7,252,628
Contributions and grants received
$120,614
Grants paid
$961,981
Program service revenue
$4,891,268
Investment income
$589,019
Other revenue
$0
Total assets, end of year
$32,854,083
Total liabilities, end of year
$28,371,282
Net assets or fund balances, end of year
$4,482,801
Program services expenses (Part IX)
$6,951,418
Management and general expenses
$301,210
Fundraising expenses
$0
Program service expenses (Part III)
$6,951,418

Program services were 95.8% 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

    $120,614

  • 2a · Program service revenue: RENTAL INCOME

    total $4,891,268 · related or exempt $4,891,268

  • 3 · Investment income

    total $589,019 · excluded $589,019

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $953,648 · program services $953,648

  • 2 · Grants to domestic individuals

    total $8,333 · program services $8,333

  • 7 · Other salaries and wages

    total $601,704 · program services $504,602 · management and general $97,102

  • 10 · Payroll taxes

    total $168,783 · program services $144,489 · management and general $24,294

  • 11a · Fees: management

    total $228,045 · program services $228,045

  • 11b · Fees: legal

    total $60,854 · program services $58,806 · management and general $2,048

  • 11c · Fees: accounting

    total $38,608 · program services $29,808 · management and general $8,800

  • 12 · Advertising and promotion

    total $63,926 · program services $38,693 · management and general $25,233

  • 13 · Office expenses

    total $531,882 · program services $500,124 · management and general $31,758

  • 17 · Travel

    total $3,018 · program services $2,672 · management and general $346

  • 19 · Conferences, conventions and meetings

    total $35,895 · program services $9,816 · management and general $26,079

  • 20 · Interest

    total $1,874,493 · program services $1,874,493

  • 22 · Depreciation, depletion and amortization

    total $1,406,198 · program services $1,405,163 · management and general $1,035

  • 23 · Insurance

    total $355,632 · program services $355,632

  • 24a · Other expenses: REAL ESTATE AND PERSONA

    total $462,225 · program services $462,225

  • 24b · Other expenses: MAINTENANCE & REPAIRS

    total $240,583 · program services $240,583

  • 24c · Other expenses: PROGRAM SERVICE EXPENSE

    total $114,466 · program services $29,951 · management and general $84,515

  • 24d · Other expenses: LANDSCAPING

    total $100,517 · program services $100,517

  • 24e · All other expenses

    total $3,818 · program services $3,818

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,155,372 · end of year $1,243,049

  • 4 · Accounts receivable

    beginning of year $3,320,937 · end of year $3,668,695

  • 9 · Prepaid expenses and deferred charges

    beginning of year $184,331 · end of year $184,132

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

    $28,707,134

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

    $8,382,424

  • 10c · Land, buildings and equipment, net

    beginning of year $21,071,030 · end of year $20,324,710

  • 12 · Investments: other securities

    beginning of year $5,066,265 · end of year $4,823,136

  • 14 · Intangible assets

    beginning of year $206,495 · end of year $444,592

  • 15 · Other assets

    beginning of year $269,605 · end of year $2,165,769

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,013,012 · end of year $1,012,086

  • 18 · Grants payable

    beginning of year $135,000 · end of year $395,000

  • 23 · Secured mortgages and notes payable

    beginning of year $26,925,000 · end of year $26,925,000

  • 25 · Other liabilities

    beginning of year $66,495 · end of year $39,196

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year -$83,108 · end of year -$83,108

  • 31 · Retained earnings, endowment or other funds

    beginning of year $6,217,636 · end of year $4,565,909

Mission and programs · 2024

Mission

THE FOUNDATION'S PRIMARY MISSION IS TO SERVE A CRITICAL ROLE TO PROACTIVELY INITIATE POSITIVE CHANGE IN THE AREAS OF AFFORDABLE HOUSING, COMMUNITY AND ECONOMIC DEVELOPMENT, AND ARTS AND CULTURE. THE FOUNDATION IS FOCUSED ON OPPORTUNITIES WHICH PROMOTE LONG TERM SUSTAINABILITY, SUPPORT INNOVATION, AND LEVERAGE SIGNIFICANT IMPACT.

Activities or mission (Part I)

SUPPORTING AFFORDABLE HOUSING, COMMUNITY AND ECONOMIC DEVELOPMENT, AND ARTS AND CULTURE.

  • BRADFORD RUN PROVIDED 292 APARTMENT UNITS RANGING FROM 676 TO 1,480 SQUARE FEET FOR RENT TO LOW INCOME FAMILIES IN KOKOMO, IN. SECTION 8 VOUCHERS ARE ACCEPTED.

    Expenses $3,041,082 · Revenue $3,194,761

  • SOMERSET APARTMENTS PROVIDED 121 APARTMENT UNITS WITH AN AVERAGE UNIT SIZE OF 1115 SQUARE FEET FOR RENT TO LOW INCOME FAMILIES IN MARION, INDIANA.

    Expenses $1,948,528 · Revenue $1,009,649

  • BUCKINGHAM FOUNDATION MADE GRANTS TO 54 PUBLIC CHARITIES. PROMULGATED, SUPPORTED AND ENCOURAGED DEVELOPMENT, OPERATIONS AND SERVICES ASSOCIATED WITH THE PROVISION OF SAFE, DECENT AND AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.

    Expenses $962,160 · Grants $961,981 · Revenue $453,042

  • AUTUMN OAKS APARTMENTS PROVIDED 72 APARTMENT UNITS WITH AN AVERAGE UNIT SIZE OF 860 SQUARE FEET FOR RENT TO LOW INCOME FAMILIES IN NEW CASTLE, INDIANA.

    Expenses $995,242 · Revenue $714,701

  • FOSTERS LANDING APARTMENTS WAS A PROPERTY OWNED BY THE FOUNDATION AND SOLD IN 2022. THE ENTITY STILL HOLDS A NOTE RECEIVABLE VIA SELLER FINANCING AND RECIEVES INTEREST INCOME ON THE THE NOTE.

    Expenses $4,406 · Revenue $228,749

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bradley B Chambers

    DIRECTOR, PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mark Bernstein

    DIRECTOR, TREASURER

    Total calculated
    $0
    Hours/week
    0.1

  • Matt Ehinger

    DIRECTOR, SECRETARY

    Total calculated
    $0
    Hours/week
    0.1

  • Carol Chambers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

  • Theresa Rhodes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1

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

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.

  • BRADFORD RUN CFF LLC

    RENTAL REAL ESTATE · IN · income -$864 · assets $8,751,984

    Directly controlled by BUCKINGHAM FOUNDATION INC

  • FOSTER'S LANDING HOUSING PARTNERS LLC

    RENTAL REAL ESTATE · IN · income $224,342 · assets $3,175,396

    Directly controlled by BUCKINGHAM FOUNDATION INC

  • CFF SOMERSET LLC

    RENTAL REAL ESTATE · IN · income -$938,879 · assets $8,123,988

    Directly controlled by BUCKINGHAM FOUNDATION INC

  • CFF AUTUMN OAKS LLC

    RENTAL REAL ESTATE · IN · income -$280,721 · assets $4,032,205

    Directly controlled by BUCKINGHAM FOUNDATION INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • COTTAGES OF ANDERSON HOUSING PARTNERS LLC

    RELATED · RENTAL REAL ESTATE · IN · 0.01% owned

    Directly controlled by MAINSOURCE BANK

  • FOSTERSPERSHING GP LLC

    RELATED · RENTAL REAL ESTATE · IN · 50% owned

    Directly controlled by MCI FOSTERS PERSHING LLC

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202503179349302595

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