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← NSSC FOUNDATION

Form 990 for tax year 2023

Filed by NSSC FOUNDATION.

Totals

Total revenue
$639,197
Total expenses
$1,126,759
Contributions and grants received
$0
Grants paid
$945,362
Program service revenue
$0
Investment income
$639,197
Other revenue
$0
Total assets, end of year
$16,469,951
Total liabilities, end of year
$83,700
Net assets or fund balances, end of year
$16,386,251
Program services expenses (Part IX)
$975,975
Management and general expenses
$150,784
Fundraising expenses
$0
Program service expenses (Part III)
$975,975

Program services were 86.6% 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 $592,363 · excluded $592,363

  • 7a · Gross sales of assets other than inventory

    securities $2,671,866

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

    securities $2,625,032

  • 7c · Gain or loss

    securities $46,834

  • 7d · Net gain or loss

    total $46,834 · excluded $46,834

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $945,362 · program services $945,362

  • 11c · Fees: accounting

    total $10,600 · management and general $10,600

  • 11f · Fees: investment management

    total $38,184 · management and general $38,184

  • 16 · Occupancy

    total $6,000 · management and general $6,000

  • 24a · Other expenses: SERVICES REIMBURSEMENTS

    total $96,000 · management and general $96,000

  • 24b · Other expenses: INTEREST PAID TO ANNUIT

    total $30,613 · program services $30,613

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $26,986

  • 2 · Savings and temporary cash investments

    beginning of year $145,410 · end of year $42,362

  • 11 · Investments: publicly traded securities

    beginning of year $4,405,538 · end of year $3,107,064

  • 12 · Investments: other securities

    beginning of year $11,249,157 · end of year $13,293,539

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $87,948 · end of year $83,700

  • 27 · Net assets without donor restrictions

    beginning of year $9,959,842 · end of year $10,351,263

  • 28 · Net assets with donor restrictions

    beginning of year $5,748,315 · end of year $6,034,988

Mission and programs · 2023

Mission

THE MISSION OF THE NSSC FOUNDATION THROUGH THE STEWARDSHIP AND GROWTH OF FINANCIAL ASSETS IS TO PROVIDE FINANCIAL SUPPORT NOW AND IN THE FUTURE TO THE NORTH SHORE SENIOR CENTER, A NOT-FOR-PROFIT ORGANIZATION, IN ITS PROVISION OF SERVICES FOR THE WELL-BEING OF OLDER ADULTS.

  • THE MISSION OF THE NSSC FOUNDATION THROUGH THE STEWARDSHIP AND GROWTH OF FINANCIAL ASSETS IS TO PROVIDE FINANCIAL SUPPORT NOW AND IN THE FUTURE TO THE NORTH SHORE SENIOR CENTER, A NOT-FOR-PROFIT ORGANIZATION, IN ITS PROVISION OF SERVICES FOR THE WELL-BEING OF OLDER ADULTS.

    Expenses $975,975 · Grants $945,362

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

Listed in Part VII

  • DAVID BARTH

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • ARTHUR MUIR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LORI RUDNICKI

    PRESIDENT

    Total calculated
    $160,199
    From this org
    $0
    From related orgs
    $160,199
    Other
    $0
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $0 + $160,199 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $160,199 related

  • GARY WALTHER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICK FISHER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • DENNIS CULLEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LISA PETERS-BEUMER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THOMAS MALLMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID MASTERS

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MEAD MONTGOMERY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STUART SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAUL SMITH

    TREASURER

    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. 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

The filer's explanations (Part III)

PART I, LINE 3
RELATED ORG METHODS USED FOR COMPENSATION EXPLANATION COMPENSATIONS SURVEY OR STUDY AND APPROVAL BY BOARD

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

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
13 May 2025
IRS schema version
2023v6.0
Source object
202511339349307361

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