Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $785,609

• 3 · Investment income

  total $29,517 · excluded $29,517

• 7a · Gross sales of assets other than inventory

  securities $484,789

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

  securities $508,552

• 7c · Gain or loss

  securities -$23,763

• 7d · Net gain or loss

  total -$23,763 · excluded -$23,763

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $14,968 · program services $14,968

• 2 · Grants to domestic individuals

  total $279,341 · program services $279,341

• 7 · Other salaries and wages

  total $149,257 · program services $149,257

• 8 · Pension plan contributions

  total $8,855 · program services $8,855

• 9 · Other employee benefits

  total $15,558 · program services $15,558

• 10 · Payroll taxes

  total $10,981 · program services $10,981

• 11c · Fees: accounting

  total $19,428 · program services $19,428

• 11f · Fees: investment management

  total $3,403 · management and general $3,403

• 11g · Fees: other

  total $200,028 · program services $200,028

• 12 · Advertising and promotion

  total $34,730 · program services $34,730

• 13 · Office expenses

  total $9,137 · program services $9,137

• 17 · Travel

  total $9,491 · program services $9,491

• 22 · Depreciation, depletion and amortization

  total $1,280 · management and general $1,280

• 23 · Insurance

  total $953 · program services $31 · management and general $922

• 24a · Other expenses: PROGRAM EXPENSES

  total $377,339 · program services $377,339

• 24b · Other expenses: DUES AND SUBSCRIPTIONS

  total $107 · program services $107

• 24c · Other expenses: FOOD

  total $87 · program services $87

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $885,195

• 2 · Savings and temporary cash investments

  beginning of year $696

• 3 · Pledges and grants receivable

  beginning of year $25,693 · end of year $25,693

• 9 · Prepaid expenses and deferred charges

  beginning of year $554

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

  $6,399

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

  $3,519

• 10c · Land, buildings and equipment, net

  beginning of year $4,159 · end of year $2,880

• 11 · Investments: publicly traded securities

  beginning of year $864,383 · end of year $1,260,612

• 12 · Investments: other securities

  beginning of year $3,500,000 · end of year $3,500,000

• 17 · Accounts payable and accrued expenses

  beginning of year $219,255 · end of year $53,736

• 25 · Other liabilities

  beginning of year $426,960 · end of year $49,061

• 27 · Net assets without donor restrictions

  beginning of year $2,592,419 · end of year $2,711,501

• 28 · Net assets with donor restrictions

  beginning of year $2,042,046 · end of year $1,974,887

The filer's explanations (Part III)

PART I, LINE 3

THE COMPENSATED OFFICERS ARE EMPLOYEES OF IMMANUEL, A RELATED ENTITY. THE BOARD'S EXECUTIVE COMMITTEE SERVES AS THE COMPENSATION COMMITTEE TO REVIEW AND APPROVE THE TOTAL COMPENSATION FOR ERIC GURLEY, AND TO APPROVE THE BONUS PLAN AND PAYOUT OF BONUSES TO THE LEADERSHIP TEAM. THE COMPENSATION COMMITTEE USES AN INDEPENDENT COMPENSATION CONSULTANT TO HELP SET SALARIES AND BENEFITS. A WRITTEN EMPLOYMENT CONTRACT IS USED FOR ERIC GURLEY.

PART I, LINE 4B

ERIC N. GURLEY, PRESIDENT & CEO, PARTICIPANTED IN AN ENDORSEMENT SPLIT-DOLLAR LIFE INSURANCE PLAN AND DEFERRED COMPENSATION PLAN THAT MEET THE REQUIREMENTS OF SECTIONS 409A AND 457(F). BOTH PLANS ARE SPONSORED BY IMMANUEL. AS OF DECEMBER 31, 2023, ERIC GURLEY'S DEFERRED COMPENSATION ACCOUNT WAS CREDITED WITH $210,126. PREMIUMS OF $157,474 WERE PAID FOR THE ENDORSEMENT SPLIT-DOLLAR LIFE INSURANCE PLAN POLICY. UNDER THE PLAN, IMMANUEL ENDORSES TO ERIC GURLEY THE RIGHT TO DESIGNATE A BENEFICIARY FOR THE PORTION OF THE DEATH BENEFIT IN EXCESS OF THE GREATER OF THE CASH SURRENDER VALUE OR PREMIUMS PAID. THE VALUE OF THAT RIGHT, WHICH WAS INCLUDED IN ERIC GURLEY'S REPORTABLE COMPENSATION, WAS $3,511. AS OF JUNE 30, 2024, THE DEATH BENEFIT IN EXCESS OF PREMIUMS PAID WAS $2,641,751.

PART I, LINE 6

THE ORGANIZATION DOES NOT PAY OR ACCRUE ANY COMPENSATION BASED ON THE REVENUES OR THE NET EARNINGS OF THE ORGANIZATION OR ANY RELATED ORGANIZATION. HOWEVER, A SMALL PERCENTAGE OF THE BONUSES PAID TO ERIC GURLEY, SCOTT BEAR, KELLE SCOTT, MARTIN SMITH, AND EMILY TONNIGES IS BASED ON OPERATING MARGIN CALCULATION OF IMMANUEL AND OTHER RELATED TAX-EXEMPT ORGANIZATIONS.