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Nonprofiteer
← FAULK ENDOWMENT INC

Form 990 for tax year 2024

Filed by FAULK ENDOWMENT INC.

Totals

Total revenue
$624,991
Total expenses
$500,890
Contributions and grants received
$5,000
Grants paid
$480,000
Program service revenue
$0
Investment income
$619,991
Other revenue
$0
Total assets, end of year
$10,600,022
Total liabilities, end of year
$15,890
Net assets or fund balances, end of year
$10,584,132
Program services expenses (Part IX)
$480,000
Management and general expenses
$20,890
Fundraising expenses
$0
Program service expenses (Part III)
$480,000

Program services were 95.8% 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

    $5,000

  • 3 · Investment income

    total $247,470 · excluded $247,470

  • 7a · Gross sales of assets other than inventory

    securities $2,682,024

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

    securities $2,309,503

  • 7c · Gain or loss

    securities $372,521

  • 7d · Net gain or loss

    total $372,521 · excluded $372,521

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $480,000 · program services $480,000

  • 5 · Compensation of officers, directors and key employees

    total $15,890 · management and general $15,890

  • 11c · Fees: accounting

    total $4,000 · management and general $4,000

  • 23 · Insurance

    total $1,000 · management and general $1,000

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $26,191 · end of year $26,207

  • 11 · Investments: publicly traded securities

    beginning of year $9,903,411 · end of year $10,573,815

  • 25 · Other liabilities

    end of year $15,890

  • 27 · Net assets without donor restrictions

    beginning of year $9,929,602 · end of year $10,584,132

Mission and programs · 2024

Mission

TO SUPPORT THE ACTIVITIES FOR THE BENEFIT OF OR TO CARRY OUT THE PURPOSES OF THE ELIZABETH H. FAULK FOUNDATION, INC., A NON PROFIT CORPORATION (THE "FOUNDATION"). THE MISSION OF THE FOUNDATION IS TO PROMOTE EMOTIONAL WELL-BEING THROUGH A VARIETY OF FREE AND LOW-COST MENTAL HEALTH PROGRAMS DOING BUSINESS AS THE FAULK CENTER FOR COUNSELING. THE ENDOWMENT'S PRINCIPAL ACTIVITIES ARE TO MANAGE INVESTMENT FUNDS AND PROVIDE THE NECESSARY FINANCIAL SUPPORT FOR THE FOUNDATION TO ACCOMPLISH ITS MISSION.

  • TO SUPPORT THE ACTIVITIES FOR THE BENEFIT OF OR TO CARRY OUT THE PURPOSES OF THE ELIZABETH H. FAULK FOUNDATION, INC., A NON PROFIT CORPORATION (THE "FOUNDATION"). THE MISSION OF THE FOUNDATION IS TO PROMOTE EMOTIONAL WELL-BEING THROUGH A VARIETY OF FREE AND LOW-COST MENTAL HEALTH PROGRAMS DOING BUSINESS AS THE FAULK CENTER FOR COUNSELING. THE ENDOWMENT'S PRINCIPAL ACTIVITIES ARE TO MANAGE INVESTMENT FUNDS AND PROVIDE THE NECESSARY FINANCIAL SUPPORT FOR THE FOUNDATION TO ACCOMPLISH ITS MISSION.

    Expenses $480,000 · Grants $480,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gwenesia S Collins Pharmd Cph

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Lois Weisman

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Jason Trock

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Bill Harper

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Jeffrey S Bovarnick Esq

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Jonathan Price

    CEO

    Total calculated
    $176,731
    From this org
    $0
    From related orgs
    $169,933
    Other
    $6,798
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    not reported + $169,933 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $6,798 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $176,731 related

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

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
2024
Filed
10 February 2026
IRS schema version
2024v5.0
Source object
202620849349302012

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