Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $5,001,313

• 1g · Noncash contributions included above

  $2,001,313

• 3 · Investment income

  total $63,584 · excluded $63,584

• 7a · Gross sales of assets other than inventory

  securities $803,928

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

  securities $802,902

• 7c · Gain or loss

  securities $1,026

• 7d · Net gain or loss

  total $1,026 · excluded $1,026

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $81,250 · program services $65,000 · management and general $16,250

• 7 · Other salaries and wages

  total $4,808 · program services $3,846 · management and general $962

• 8 · Pension plan contributions

  total $1,923 · program services $1,538 · management and general $385

• 9 · Other employee benefits

  total $3,723 · program services $2,979 · management and general $744

• 10 · Payroll taxes

  total $6,870 · program services $5,496 · management and general $1,374

• 11b · Fees: legal

  total $276,479 · management and general $276,479

• 11c · Fees: accounting

  total $6,809 · management and general $6,809

• 11f · Fees: investment management

  total $4,227 · management and general $4,227

• 11g · Fees: other

  total $133,192 · program services $90,446 · management and general $42,746

• 13 · Office expenses

  total $2,669 · program services $846 · management and general $1,823

• 16 · Occupancy

  total $20,733 · program services $20,733

• 17 · Travel

  total $291 · program services $92 · management and general $199

• 19 · Conferences, conventions and meetings

  total $2,748 · program services $871 · management and general $1,877

• 23 · Insurance

  total $27,855 · management and general $27,855

• 24a · Other expenses: DUES & SUBSCRIPTIONS

  total $323 · program services $103 · management and general $220

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $197,279

• 2 · Savings and temporary cash investments

  end of year $10,097

• 9 · Prepaid expenses and deferred charges

  end of year $15,079

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

  $2,345,351

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

  $0

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $2,345,351

• 11 · Investments: publicly traded securities

  end of year $2,106,239

• 17 · Accounts payable and accrued expenses

  end of year $49,053

• 25 · Other liabilities

  beginning of year $0 · end of year $27,008

• 27 · Net assets without donor restrictions

  beginning of year $0 · end of year $4,597,984

• 28 · Net assets with donor restrictions

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

PART I, LINE 3

THE PRESIDENT/CEO AND CFO ARE COMPENSATED BY THE RELATED ORGANIZATION, KEIRO SERVICES. THE PROCESS FOR DETERMINING COMPENSATION OF THE PRESIDENT/CEO AND CFO OCCURS IN A TWO STEP PROCESS. THE FIRST STEP INCLUDES A MEETING OF A COMMITTEE WHICH IS MADE UP OF INDEPENDENT BOARD MEMBERS AS VERIFIED BY THE COMPLETION OF CONFLICT OF INTEREST DISCLOSURES. IN THIS MINUTED MEETING, THE COMMITTEE REVIEWS COMPARABILITY WITH CURRENT COMPENSATION ARRANGEMENTS FOR KEY EMPLOYEES. ONCE A DECISION IS FINALIZED, A RECOMMENDATION IS MADE TO THE FULL BOARD ON WHETHER TO ACCEPT THE ARRANGEMENTS OR MODIFY THEM. THE FULL BOARD THEN VOTES TO ACCEPT THEIR RECOMMENDATION OR MODIFY THE RECOMMENDATION. THE SAME INDEPENDENT DATA SOURCES ARE UTILIZED FOR COMPARABILITY PURPOSES. THE CEO GOES THROUGH AN ADDITIONAL LEVEL OF REVIEW WITH THE FULL BOARD WHICH INCLUDES A PERFORMANCE REVIEW AND COMPENSATION REVIEW UTILIZING INDEPENDENT DATA SOURCES. AFTER THE DELIBERATIONS, THE FULL BOARD MAKES A DETERMINATION ON THE CEO'S COMPENSATION ARRANGEMENT. THIS DISCUSSION AND ANY DECISIONS MADE ARE CONTEMPORANEOUSLY MINUTED.