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Nonprofiteer
← SCIENCE OF MIND FOUNDATION INC

Form 990 for tax year 2023

Filed by SCIENCE OF MIND FOUNDATION INC.

Totals

Total revenue
$340,058
Total expenses
$325,635
Contributions and grants received
$145,473
Grants paid
$63,160
Program service revenue
$26,133
Investment income
$168,452
Other revenue
$0
Total assets, end of year
$6,289,102
Total liabilities, end of year
$2,174,492
Net assets or fund balances, end of year
$4,114,610
Program services expenses (Part IX)
$107,521
Management and general expenses
$168,694
Fundraising expenses
$49,420
Program service expenses (Part III)
$107,521

Program services were 33.0% 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.

  • 1f · All other contributions, gifts and grants

    $145,473

  • 2a · Program service revenue: ADMINISTRATIVE FEE

    total $26,133 · related or exempt $26,133

  • 3 · Investment income

    total $103,096 · excluded $103,096

  • 7a · Gross sales of assets other than inventory

    securities $65,356

  • 7c · Gain or loss

    securities $65,356

  • 7d · Net gain or loss

    total $65,356 · excluded $65,356

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $50,000 · program services $50,000

  • 2 · Grants to domestic individuals

    total $13,160 · program services $13,160

  • 5 · Compensation of officers, directors and key employees

    total $46,170 · program services $9,234 · management and general $9,234 · fundraising $27,702

  • 7 · Other salaries and wages

    total $52,750 · program services $15,825 · management and general $34,287 · fundraising $2,638

  • 9 · Other employee benefits

    total $6,361 · program services $1,908 · management and general $4,135 · fundraising $318

  • 10 · Payroll taxes

    total $7,363 · program services $1,876 · management and general $3,289 · fundraising $2,198

  • 11c · Fees: accounting

    total $19,738 · management and general $19,738

  • 11f · Fees: investment management

    total $33,344 · management and general $33,344

  • 11g · Fees: other

    total $26,839 · management and general $15,000 · fundraising $11,839

  • 12 · Advertising and promotion

    total $11,731 · management and general $10,531 · fundraising $1,200

  • 13 · Office expenses

    total $201 · management and general $201

  • 14 · Information technology

    total $6,163 · management and general $6,163

  • 16 · Occupancy

    total $8,999 · program services $2,250 · management and general $3,825 · fundraising $2,924

  • 22 · Depreciation, depletion and amortization

    total $1,849 · program services $462 · management and general $786 · fundraising $601

  • 23 · Insurance

    total $353 · management and general $353

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $25,000 · management and general $25,000

  • 24b · Other expenses: PROGRAM EXPENSES

    total $15,614 · program services $12,806 · management and general $2,808

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $265,049 · end of year $210,736

  • 4 · Accounts receivable

    beginning of year $16,304 · end of year $17,592

  • 9 · Prepaid expenses and deferred charges

    end of year $706

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

    $32,226

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

    $9,097

  • 10c · Land, buildings and equipment, net

    beginning of year $24,978 · end of year $23,129

  • 11 · Investments: publicly traded securities

    beginning of year $3,150,957 · end of year $3,583,872

  • 15 · Other assets

    beginning of year $2,497,188 · end of year $2,453,067

  • 17 · Accounts payable and accrued expenses

    beginning of year $37,219 · end of year $24,305

  • 25 · Other liabilities

    beginning of year $2,197,188 · end of year $2,150,187

  • 27 · Net assets without donor restrictions

    beginning of year $3,397,382 · end of year $3,753,915

  • 28 · Net assets with donor restrictions

    beginning of year $322,687 · end of year $360,695

Mission and programs · 2023

Mission

TO PROMOTE, RAISE FUNDS, MAINTAIN, AND OPERATE AN ENDOWMENT FUND FOR THE ADVANCEMENT OF AWARENESS AND UNDERSTANDING OF THE PHILOSOPHY OF THE SCIENCE OF MIND GLOBALLY. IT DOES THIS THROUGH THE FINANCIAL SUPPORT OF 501(C)(3) NONPROFIT ORGANIZATIONS THAT ADVANCE AND/OR PROMOTE THE PRINCIPALS AND PHILOSOPHY OF THE SCIENCE OF MIND. THESE ORGANIZATIONS INCLUDE, BUT ARE NOT LIMITED TO, THE CENTERS FOR SPIRITUAL LIVING (CSL) AND INSTITUTIONS, CHURCHES, ORGANIZATIONS, AND STUDY GROUPS.

Activities or mission (Part I)

TO PROMOTE THE PRINCIPLES AND PHILOSOPHY OF SCIENCE OF MIND.

  • PROVIDE SUPPORT TO ORGANIZATIONS THAT HAVE DEMONSTRATED THAT THEIR ACTIONS ARE IN ALIGNMENT WITH THE FOUNDATION'S PURPOSE OF PROMOTING THE PRINCIPLES AND PHILOSOPHY OF SCIENCE OF MIND THROUGHOUT THE WORLD.

    Expenses $63,160 · Grants $63,160 · Revenue $26,133

  • PROVIDES EDUCATION AND TRAINING TO PERSONNEL OF CENTERS FOR SPIRITUAL LIVING AFFILIATED MEMBERS IN IMPLEMENTING ENDOWMENT AND PLANNED GIVING PROGRAMS.

    Expenses $44,361

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

Listed in Part VII

  • Michael Schlut

    DIR. OF PHIL

    Total calculated
    $87,000
    From this org
    $43,500
    From related orgs
    $40,830
    Other
    $2,670
    Hours/week
    20 + 20 related

  • Dr Walter Drew

    PRESIDENT

    Total calculated
    $0
    Hours/week
    6

  • Nancy Loshkajian

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Reverend Elizabeth Mirante

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Dr Tracy Brown Rscp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Charlie Goldsmith

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Reverend Alice Reid

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Reverend Michelle Arellano

    DIRECTOR

    Total calculated
    $116,917
    From this org
    $0
    From related orgs
    $116,917
    Other
    $0
    Hours/week
    20 + 20 related

  • Reverend Sunshine Daye

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tony Diaz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
7 June 2024
IRS schema version
2023v5.0
Source object
202441599349301159

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