Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $75,473

• 1f · All other contributions, gifts and grants

  $26,696,034

• 1g · Noncash contributions included above

  $1,247,173

• 2f · All other program service revenue

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

• 3 · Investment income

  total $207,797 · excluded $207,797

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $552,505 · other assets $23,358

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

  securities $552,505 · other assets $705,680

• 7c · Gain or loss

  securities $0 · other assets -$682,322

• 7d · Net gain or loss

  total -$682,322 · excluded -$682,322

• 11d · All other revenue

  total -$118,767 · related or exempt $0 · unrelated business $0 · excluded -$118,767

• 11e · Other revenue, total

  -$118,767

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $300,000 · program services $300,000

• 3 · Grants to foreign organizations and individuals

  total $257,347 · program services $257,347

• 5 · Compensation of officers, directors and key employees

  total $578,870 · program services $450,740 · management and general $128,130

• 6 · Compensation of disqualified persons

  total $36,060 · management and general $36,060

• 7 · Other salaries and wages

  total $8,528,366 · program services $6,662,518 · management and general $1,865,848

• 8 · Pension plan contributions

  total $275,237 · program services $214,342 · management and general $60,895

• 9 · Other employee benefits

  total $959,920 · program services $753,633 · management and general $206,287

• 10 · Payroll taxes

  total $691,109 · program services $538,135 · management and general $152,974

• 11b · Fees: legal

  total $106,709 · management and general $106,709

• 11c · Fees: accounting

  total $66,085 · management and general $66,085

• 11f · Fees: investment management

  total $135,043 · management and general $135,043

• 11g · Fees: other

  total $1,204,870 · program services $742,074 · management and general $462,796 · fundraising $0

• 13 · Office expenses

  total $773,433 · program services $620,672 · management and general $152,761

• 14 · Information technology

  total $4,491,675 · program services $3,997,481 · management and general $494,194

• 16 · Occupancy

  total $793,444 · program services $654,810 · management and general $138,634

• 17 · Travel

  total $443,299 · program services $336,507 · management and general $106,792

• 22 · Depreciation, depletion and amortization

  total $4,365,243 · program services $3,609,628 · management and general $755,615

• 23 · Insurance

  total $352,229 · program services $191,626 · management and general $160,603

• 24a · Other expenses: Retreat & Training

  total $3,197,016 · program services $3,120,533 · management and general $76,483

• 24b · Other expenses: Church Facilities

  total $2,747,569 · program services $2,747,569

• 24c · Other expenses: Area Advisor Expenses

  total $1,357,596 · program services $1,357,596

• 24d · Other expenses: Curriculum

  total $438,229 · program services $438,229

• 24e · All other expenses

  total $302,733 · program services $288,904 · management and general $13,829 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $845,463 · end of year $404,827

• 2 · Savings and temporary cash investments

  beginning of year $1,907,314 · end of year $3,544,711

• 3 · Pledges and grants receivable

  beginning of year $141,732 · end of year $661,965

• 4 · Accounts receivable

  beginning of year $11,315 · end of year $170,026

• 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

• 9 · Prepaid expenses and deferred charges

  beginning of year $697,782 · end of year $907,463

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

  $38,374,267

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

  $26,654,342

• 10c · Land, buildings and equipment, net

  beginning of year $14,712,102 · end of year $11,719,925

• 11 · Investments: publicly traded securities

  beginning of year $431,673 · end of year $1,024,989

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 14 · Intangible assets

  beginning of year $43,569 · end of year $36,565

• 15 · Other assets

  beginning of year $310,580 · end of year $676,556

• 17 · Accounts payable and accrued expenses

  beginning of year $744,884 · end of year $994,920

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $5,442,541 · end of year $11,130,125

• 27 · Net assets without donor restrictions

  beginning of year $12,536,486 · end of year $6,143,460

• 28 · Net assets with donor restrictions

  beginning of year $377,619 · end of year $878,522

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions

The organization provides spousal travel to board members so their spouses can attend one board meeting annually to provide substantial services regarding necessary input on BSF class activities, programs and development. The organization also occasionally provides for travel for the spouse of a board member to attend BSF leadership events conducted for all lay volunteers essential for ministry evaluation and development. All travel is considered to be for bona fide business purpose and is therefore treated as nontaxable.

Schedule J, Part I, Line 1a Discretionary spending account

Discretionary account is funded with $25,000 per fiscal year and is available to the Executive Director to use for purposes that further the mission of BSF. This might include donations to other organizations, or benevolence payments on behalf of BSF employees. In the event it benefits an employee, payments are treated as additional compensation and taxes are withheld. The discretionary account does not benefit the Executive Director directly.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

The organization offers a supplemental nonqualified retirement plan to certain top-level management employees. There were no contributions or distributions during the tax year.

Schedule J, Part I, Line 7 Non-fixed payments

The organization provided a discretionary bonus to officers and highly compensated employees. All bonuses are approved by the board of directors.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• Charitable Remainder Unitrust (1)

  Trust · Hold assets for the residual benefit of Bible Study Fellowship · CA · controlled entity

  Directly controlled by Bible Study Fellowship

• Ackerman Family Trust

  Trust · Irrevocable Trust · CA · 90.49% owned · share of income $310 · share of assets $45,245 · controlled entity

  Directly controlled by Bible Study Fellowship