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← STERLING CHARITABLE GIFT FUND TR

Form 990 for tax year 2023

Filed by STERLING CHARITABLE GIFT FUND TR.

Totals

Total revenue
$1,469,307
Total expenses
$1,652,570
Contributions and grants received
$959,003
Grants paid
$1,570,282
Program service revenue
$0
Investment income
$510,304
Other revenue
$0
Total assets, end of year
$20,935,708
Total liabilities, end of year
$800,000
Net assets or fund balances, end of year
$20,135,708
Program services expenses (Part IX)
$1,570,282
Management and general expenses
$82,288
Fundraising expenses
$0
Program service expenses (Part III)
$1,570,282

Program services were 95.0% 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

    $959,003

  • 1g · Noncash contributions included above

    $143,233

  • 3 · Investment income

    total $521,181 · excluded $521,181

  • 7a · Gross sales of assets other than inventory

    securities $13,796

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

    securities $24,673

  • 7c · Gain or loss

    securities -$10,877

  • 7d · Net gain or loss

    total -$10,877 · related or exempt -$10,877

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,459,439 · program services $1,459,439

  • 2 · Grants to domestic individuals

    total $110,843 · program services $110,843

  • 11a · Fees: management

    total $50,000 · management and general $50,000

  • 19 · Conferences, conventions and meetings

    total $12,264 · management and general $12,264

  • 24a · Other expenses: INVESTMENT EXPENSES

    total $19,984 · management and general $19,984

  • 24b · Other expenses: BANK CHARGES

    total $40 · management and general $40

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,917,062 · end of year $1,124,266

  • 3 · Pledges and grants receivable

    beginning of year $55,744 · end of year $55,744

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $2,800,000

  • 11 · Investments: publicly traded securities

    beginning of year $3,150,012 · end of year $3,549,017

  • 12 · Investments: other securities

    beginning of year $12,318,159 · end of year $13,406,681

  • 17 · Accounts payable and accrued expenses

    beginning of year $80,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $800,000

  • 27 · Net assets without donor restrictions

    beginning of year $11,203,808 · end of year $11,900,913

  • 28 · Net assets with donor restrictions

    beginning of year $8,157,169 · end of year $8,234,795

Mission and programs · 2023

Mission

TO RECEIVE AND DISTRIBUTE CONTRIBUTIONS TO QUALIFIED CHARITABLE ORGANIZATIONS AND INDIVIDUALS.

  • ASSISTANCE TO EXEMPT ORGANIZATIONS FOR HUMANITARIAN WORK IN THE U.S. & FINANCIAL ASSISTANCE AND PROGRAM SUPPORT TO VARIOUS SOCIAL ORGANIZATIONS AND EDUCATIONAL INSTITUTIONS.

    Expenses $1,459,439 · Grants $1,459,439

  • TUITION, FINANCIAL AND MEDICAL ASSISTANCE TO DISADVANTAGED INDIVIDUALS.

    Expenses $110,843 · Grants $110,843

As filed on the 2023 return.

Listed in Part VII

  • M Yaqub Mirza PhD

    PRESIDENT/TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Firas Barzinji

    VICE PRESIDENT/COMPLIANCE

    Total calculated
    $333,343
    From this org
    $322,306
    From related orgs
    $0
    Other
    $11,037
    Hours/week
    0.5

    Schedule J breakdown matched by us

    Base
    $130,295
    Bonus
    $192,011
    Other
    $0
    Deferred
    $9,121
    Nontaxable benefits
    $1,916
    Filer's total
    $333,343

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

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

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

  • MARJAC INVESTMENTS INC

    C · INVESTMENTS · VA · 100% owned · share of assets $2,228,442

    Directly controlled by STERLING CHARITABLE GIFT FUND

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202423209349309537

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