Form 990 for tax year 2023

Filed by MURRAY ARTS CENTER FOUNDATION INC.

Totals

Total revenue: $0
Total expenses: $628,703
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $0
Investment income: $0
Other revenue: $0
Total assets, end of year: $9,383,415
Total liabilities, end of year: $5,892,552
Net assets or fund balances, end of year: $3,490,863
Program services expenses (Part IX): $628,703
Management and general expenses: $0
Fundraising expenses: $0
Program service expenses (Part III): $628,703

Program services were 100.0% 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.

3 · Investment income

total $0
4 · Income from investment of tax-exempt bond proceeds

total $0
5 · Royalties

total $0
6c · Rental income or loss

real property $0 · personal property $0
6d · Net rental income or loss

total $0
7d · Net gain or loss

total $0
8a · Fundraising events: gross income

$0
8b · Fundraising events: direct expenses

$0
8c · Net income from fundraising events

total $0
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0
10a · Gross sales of inventory

$0
10b · Cost of goods sold

$0
10c · Net income from sales of inventory

total $0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0
2 · Grants to domestic individuals

total $0
3 · Grants to foreign organizations and individuals

total $0
4 · Benefits paid to or for members

total $0
5 · Compensation of officers, directors and key employees

total $0
6 · Compensation of disqualified persons

total $0
7 · Other salaries and wages

total $0
8 · Pension plan contributions

total $0
9 · Other employee benefits

total $0
10 · Payroll taxes

total $0
11a · Fees: management

total $0
11b · Fees: legal

total $0
11c · Fees: accounting

total $0
11d · Fees: lobbying

total $0
11e · Fees: professional fundraising services

total $0
11f · Fees: investment management

total $0
11g · Fees: other

total $0
12 · Advertising and promotion

total $0
13 · Office expenses

total $0
14 · Information technology

total $0
15 · Royalties

total $0
16 · Occupancy

total $0
17 · Travel

total $0
18 · Travel or entertainment for public officials

total $0
19 · Conferences, conventions and meetings

total $0
20 · Interest

total $271,856 · program services $271,856
21 · Payments to affiliates

total $0
22 · Depreciation, depletion and amortization

total $355,095 · program services $355,095
23 · Insurance

total $0
24a · Other expenses: AMORTIZATION

total $1,752 · program services $1,752

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $0 · end of year $0
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 $0 · end of year $0
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 $0 · end of year $0
8 · Inventories for sale or use

beginning of year $0 · end of year $0
9 · Prepaid expenses and deferred charges

beginning of year $0 · end of year $0
10a · Land, buildings and equipment: cost or other basis

$16,588,445
10b · Land, buildings and equipment: accumulated depreciation

$7,242,446
10c · Land, buildings and equipment, net

beginning of year $9,701,094 · end of year $9,345,999
11 · Investments: publicly traded securities

beginning of year $0 · end of year $0
12 · Investments: other securities

beginning of year $0 · end of year $0
13 · Investments: program-related

beginning of year $0 · end of year $0
14 · Intangible assets

beginning of year $0 · end of year $0
15 · Other assets

beginning of year $39,168 · end of year $37,416
17 · Accounts payable and accrued expenses

beginning of year $11,497 · end of year $11,144
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 $0 · end of year $0
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 $6,066,929 · end of year $5,881,408
24 · Unsecured notes and loans payable

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year $3,661,836 · end of year $3,490,863
28 · Net assets with donor restrictions

beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

THE FOUNDATION IS A SUPPORTING ORGANIZATION ORGANIZED FOR HOLDING AND MANAGING REAL PROPERTY FOR THE EXCLUSIVE BENEFIT OF MT. PARAN CHRISTIAN SCHOOL, INC., AN EDUCATIONAL AND RELIGIOUS ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3) AND 509(A)(1) OF THE INTERNAL REVENUE CODE.

Activities or mission (Part I)

THE FOUNDATION IS A SUPPORTING ORGANIZATION ORGANIZED FOR HOLDING AND MANAGING REAL PROPERTY FOR THE EXCLUSIVE BENEFIT OF MT. PARAN CHRISTIAN SCHOOL, INC.

ALL PROGRAM SERVICE ACCOMPLISHMENTS ARE FOR THE FOUNDATION'S EXPENSES INCURRED RELATING TO HOLDING PROPERTY FOR THE SUPPORT OF ITS SUPPORTED ORGANIZATION MT. PARAN CHRISTIAN SCHOOL, INC. THIS IS THE ONLY PROGRAM FOR WHICH THE FOUNDATION EXISTS.

Expenses $628,703

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

Listed in Part VII

Dr Tim Wiens

Former Chairman

Total calculated

$288,991

From this org

$0

From related orgs

$276,927

Other

$12,064

Hours/week

0

Schedule J breakdown matched by us

Base

not reported + $92,952 related

Bonus

not reported

Other

not reported + $183,975 related

Deferred

not reported + $3,548 related

Nontaxable benefits

not reported + $12,064 related

Filer's total

not reported + $292,539 related
Dr David Tilley

Chairman & Interim HOS

Total calculated

$147,053

From this org

$0

From related orgs

$142,819

Other

$4,234

Hours/week

0.5 + 40 related
Julie Ray

CFO until June 24'

Total calculated

$139,175

From this org

$0

From related orgs

$124,541

Other

$14,634

Hours/week

1 + 40 related
Kathleen McCook

Managing Director

Total calculated

$87,452

From this org

$0

From related orgs

$80,468

Other

$6,984

Hours/week

1 + 40 related
Rob Chaput

Board Member

Total calculated

$0

Hours/week

1
Tom Dozier

Board Member

Total calculated

$0

Hours/week

1
Ron Mulkey

Board Member

Total calculated

$0

Hours/week

1
Cindy Rainey

Secretary

Total calculated

$0

Hours/week

1
Kelly Boudreau

Board Member

Total calculated

$0

Hours/week

1
Dr Matt Kerlin

Head of School from June 24'

Total calculated

$0

Hours/week

0
Kevin Smith

CFO FROM JUNE 24'

Total calculated

$0

Hours/week

0

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

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan

Answered no

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

The filer's explanations (Part III)

PART I, LINE 4A: Dr. Wiens received a severance payment during the reporting year of $146,063. This amount is included in the figure on Part II, Line 1, Column B.iii of Schedule J.
PART I, Line 4b: Under INTERNAL REVENUE CODE SECTION 457(F), Dr. Timothy Wiens received receipt of the vested deferred compensation totaling $29,862 during the reporting year. This amount is included in the figure on Part II, Line 1, Column F of Schedule J.

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

No itemized grants to organizations on this return.

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.

MT PARAN CHRISTIAN SCHOOL INC

501(c)(3) · PARENT · GA

Directly controlled by NA

Provenance

Return type: form_990
Tax year: 2023
Filed: 15 November 2024
IRS schema version: 2023v5.1
Source object: 202403209349307780

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