Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $120,550

• 2a · Program service revenue: INTEREST ON LOANS

  total $5,644,046 · related or exempt $5,644,046

• 2b · Program service revenue: TRUST ADMINISTRATIVE FEES

  total $572,409 · related or exempt $572,409

• 2c · Program service revenue: SEMINAR AND SERVICE FEES

  total $4,122 · related or exempt $4,122

• 3 · Investment income

  total $1,149,469 · excluded $1,149,469

• 7a · Gross sales of assets other than inventory

  securities $38,793,288

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

  securities $39,040,460

• 7c · Gain or loss

  securities -$247,172

• 7d · Net gain or loss

  total -$247,172 · excluded -$247,172

• 11a · Other revenue: BANK CREDIT

  total $583 · excluded $583

• 11b · Other revenue: LICENSE REFUND

  total $410 · excluded $410

• 11e · Other revenue, total

  $993

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $96,600 · program services $96,600

• 5 · Compensation of officers, directors and key employees

  total $950,475 · program services $823,206 · management and general $127,269

• 7 · Other salaries and wages

  total $650,493 · program services $563,350 · management and general $87,143

• 8 · Pension plan contributions

  total $46,900 · program services $40,609 · management and general $6,291

• 10 · Payroll taxes

  total $66,707 · program services $57,773 · management and general $8,934

• 11b · Fees: legal

  total $44,743 · management and general $44,743

• 11c · Fees: accounting

  total $40,409 · management and general $40,409

• 11f · Fees: investment management

  total $187,845 · management and general $187,845

• 11g · Fees: other

  total $243,865 · program services $218,130 · management and general $25,735

• 12 · Advertising and promotion

  total $32,515 · program services $29,520 · management and general $2,995

• 13 · Office expenses

  total $104,737 · program services $86,694 · management and general $18,043

• 14 · Information technology

  total $231,401 · program services $212,058 · management and general $19,343

• 16 · Occupancy

  total $47,452 · program services $43,181 · management and general $4,271

• 17 · Travel

  total $36,650 · program services $32,747 · management and general $3,903

• 19 · Conferences, conventions and meetings

  total $34,827 · program services $31,981 · management and general $2,846

• 20 · Interest

  total $4,171,628 · program services $4,171,628

• 22 · Depreciation, depletion and amortization

  total $88,253 · program services $76,605 · management and general $11,648

• 23 · Insurance

  total $28,505 · program services $25,762 · management and general $2,743

• 24a · Other expenses: ANNUAL REPORT AND CONF.

  total $10,824 · program services $9,829 · management and general $995

• 24b · Other expenses: ASSOCIATION DUES

  total $10,461 · program services $9,382 · management and general $1,079

• 24c · Other expenses: REPAIRS & MAINTENANCE

  total $5,508 · program services $4,990 · management and general $518

• 24d · Other expenses: APPAREL EXPENSES

  total $1,278 · program services $997 · management and general $281

• 24e · All other expenses

  total $2,957 · program services $2,306 · management and general $651

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $196 · end of year $31,525

• 2 · Savings and temporary cash investments

  beginning of year $14,408,989 · end of year $3,595,227

• 4 · Accounts receivable

  beginning of year $21,273 · end of year $23,827

• 7 · Other notes and loans receivable

  beginning of year $105,188,112 · end of year $112,565,013

• 9 · Prepaid expenses and deferred charges

  beginning of year $63,044 · end of year $43,690

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

  $2,498,988

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

  $1,410,253

• 10c · Land, buildings and equipment, net

  beginning of year $1,176,988 · end of year $1,088,735

• 11 · Investments: publicly traded securities

  beginning of year $140,242,795 · end of year $116,383,834

• 12 · Investments: other securities

  beginning of year $121,567 · end of year $255,786

• 15 · Other assets

  beginning of year $844,551 · end of year $1,281,329

• 17 · Accounts payable and accrued expenses

  beginning of year $566,881 · end of year $435,554

• 18 · Grants payable

  beginning of year $30,000

• 21 · Escrow or custodial account liability

  beginning of year $89,763,168 · end of year $95,146,607

• 24 · Unsecured notes and loans payable

  beginning of year $250,000 · end of year $250,000

• 25 · Other liabilities

  beginning of year $158,789,995 · end of year $125,278,264

• 27 · Net assets without donor restrictions

  beginning of year $9,309,564 · end of year $10,580,108

• 28 · Net assets with donor restrictions

  beginning of year $3,357,907 · end of year $3,578,433

The filer's explanations (Part III)

PART I, LINE 1A

THE FOUNDATION DOES NOT PROVIDE HOUSING FOR METHODIST MINISTERS. AS PER SECTION 107 OF IRSC (1986), ORDAINED METHODIST MINISTERS ARE ALLOWED TO EXCLUDE FROM THEIR GROSS INCOME THE RENTAL VALUE OF A HOME. THE HOUSING ALLOWANCE EXCLUSIONS ARE APPROVED BY THE FULL BOARD. IN MAY 2023, THE FOUNDATION JOINED GRASSLANDS GOLF & COUNTRY CLUB. THIS IS A CORPORATE MEMBERSHIP AND REV. EDWARD NEW IS THE INITIAL USER FOR THE MEMBERSHIP PRIVILEGES. REV. NEW PICKED UP A PRO RATA SHARE OF THE TOTAL FEES PAID IN 2023 BY THE FOUNDATION. THIS AMOUNT WAS LISTED ON HIS FORM W-2.

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUSTS (3)

  SUPPORT FOUNDATION'S MISSION · FL · controlled entity

  Directly controlled by FLORIDA UNITED METHODIST FOUNDATION