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← CORPORATE TAX FOUNDATION

Form 990 for tax year 2022

Filed by CORPORATE TAX FOUNDATION.

Totals

Total revenue
$853,648
Total expenses
$347,841
Contributions and grants received
$850,000
Grants paid
$329,630
Program service revenue
$0
Investment income
$3,648
Other revenue
$0
Total assets, end of year
$6,096,014
Total liabilities, end of year
$3,751,800
Net assets or fund balances, end of year
$2,344,214
Program services expenses (Part IX)
$329,630
Management and general expenses
$18,211
Fundraising expenses
$0
Program service expenses (Part III)
$329,630

Program services were 94.8% 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

    $850,000

  • 3 · Investment income

    total $3,648 · excluded $3,648

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $329,630 · program services $329,630

  • 11b · Fees: legal

    total $168 · management and general $168

  • 11c · Fees: accounting

    total $16,500 · management and general $16,500

  • 11g · Fees: other

    total $886 · management and general $886

  • 13 · Office expenses

    total $276 · management and general $276

  • 24a · Other expenses: FEES AND RENEWALS

    total $381 · management and general $381

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $97,528 · end of year $1,056,383

  • 2 · Savings and temporary cash investments

    beginning of year $5,768,966 · end of year $2,243,065

  • 11 · Investments: publicly traded securities

    end of year $2,796,566

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,670

  • 18 · Grants payable

    beginning of year $4,176,100 · end of year $3,751,800

  • 27 · Net assets without donor restrictions

    beginning of year $1,685,724 · end of year $2,344,214

Mission and programs · 2022

Mission

TO PROVIDE SCHOLARSHIPS AND GRANTS FOR PRIVATE SCHOOL TUITION TO STUDENTS ATTENDING ONE OF THE SCHOOLS THAT IS A MEMBER OF THE FOUNDATION FOR CORPORATE TAX CREDIT.

Activities or mission (Part I)

TO PROVIDE SCHOLARSHIPS AND GRANTS FOR PRIVATE SCHOOL TUITION TO STUDENTS (CON. ON SCH O)ATTENDING ONE OF THE SCHOOLS THAT IS A MEMBER OF THE FOUNDATION FOR CORPORATE TAX CREDIT.

  • PROVIDED SCHOLARSHIPS AND GRANTS FOR PRIVATE SCHOOL TUITION TO 169 STUDENTS EACH OF WHOM WILL, OR HAVE, ATTENDED ONE OF THE SCHOOLS THAT IS A MEMBER OF THE FOUNDATION.

    Expenses $329,630 · Grants $329,630

As filed on the 2022 return.

Listed in Part VII

  • DAN WAAGE

    PRESIDENT

    Total calculated
    $136,959
    From this org
    $0
    From related orgs
    $116,807
    Other
    $20,152
    Hours/week
    3 + 37 related

  • ANDREW KLEMMER

    SECRETARY/TREASURER

    Total calculated
    $195,736
    From this org
    $0
    From related orgs
    $169,026
    Other
    $26,710
    Hours/week
    3 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $169,026 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $17,070 related
    Nontaxable benefits
    $0 + $9,640 related
    Filer's total
    $0 + $195,736 related

  • BEN SULLIVAN

    VICE PRESIDENT

    Total calculated
    $198,160
    From this org
    $0
    From related orgs
    $170,612
    Other
    $27,548
    Hours/week
    3 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $170,612 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $16,404 related
    Nontaxable benefits
    $0 + $11,144 related
    Filer's total
    $0 + $198,160 related

  • TAYLOR NELSON

    DIRECTOR

    Total calculated
    $94,262
    From this org
    $0
    From related orgs
    $84,522
    Other
    $9,740
    Hours/week
    3 + 37 related

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

None.

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
1 May 2024
IRS schema version
2022v5.0
Source object
202401319349302510

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