Skip to content
Nonprofiteer
← THE DEGEN FOUNDATION

Form 990 for tax year 2022

Filed by THE DEGEN FOUNDATION.

Totals

Total revenue
$774,095
Total expenses
$587,883
Contributions and grants received
$0
Grants paid
$478,554
Program service revenue
$0
Investment income
$774,095
Other revenue
$0
Total assets, end of year
$13,857,942
Total liabilities, end of year
$101,519
Net assets or fund balances, end of year
$13,756,423
Program services expenses (Part IX)
$478,554
Management and general expenses
$109,329
Fundraising expenses
$0
Program service expenses (Part III)
$478,554

Program services were 81.4% 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.

  • 3 · Investment income

    total $241,777 · excluded $241,777

  • 7a · Gross sales of assets other than inventory

    securities $854,284

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

    securities $321,966

  • 7c · Gain or loss

    securities $532,318

  • 7d · Net gain or loss

    total $532,318 · excluded $532,318

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $438,054 · program services $438,054

  • 2 · Grants to domestic individuals

    total $40,500 · program services $40,500

  • 11a · Fees: management

    total $40,200 · management and general $40,200

  • 11b · Fees: legal

    total $2,266 · management and general $2,266

  • 11c · Fees: accounting

    total $5,265 · management and general $5,265

  • 11f · Fees: investment management

    total $43,126 · management and general $43,126

  • 13 · Office expenses

    total $1,499 · management and general $1,499

  • 17 · Travel

    total $101 · management and general $101

  • 23 · Insurance

    total $16,624 · management and general $16,624

  • 24a · Other expenses: MISCELLANEOUS

    total $248 · management and general $248

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $201,298 · end of year $192,277

  • 11 · Investments: publicly traded securities

    beginning of year $11,820,448 · end of year $12,252,685

  • 15 · Other assets

    beginning of year $1,360,826 · end of year $1,412,980

  • 17 · Accounts payable and accrued expenses

    beginning of year $101,233 · end of year $101,519

  • 27 · Net assets without donor restrictions

    beginning of year $13,260,868 · end of year $13,735,952

  • 28 · Net assets with donor restrictions

    beginning of year $20,471 · end of year $20,471

Mission and programs · 2022

Mission

TO PROMOTE AND DEVELOP ACCESS TO AND DELIVERY OF HEALTHCARE SERVICES IN WESTERN ARKANSAS AND EASTERN OKLAHOMA, TO IMPROVE THE QUALITY AND AVAILABILITY OF HEALTHCARE SERVICES, TO FACILITATE AND PROMOTE HEALTHCARE EDUCATION, TO AID AND SUPPORT ESTABLISHED RELIGIOUS OR CHARITABLE ORGANIZATIONS, AND TO SUPPORT AND FACILITATE AS A SUPPORTING ORGANIZATION THE EDUCATIONAL MISSION OF THE ARKANSAS COLLEGES OF HEALTHCARE EDUCATION.

Activities or mission (Part I)

TO PROMOTE AND DEVELOP ACCESS TO AND DELIVERY OF HEALTHCARE SERVICES IN WESTERN ARKANSAS AND EASTERN OKLAHOMA, TO IMPROVE THE QUALITY AND AVAILABILITY OF HEALTHCARE SERVICES, TO FACILITATE AND PROMOTE HEALTHCARE EDUCATION, TO AID AND SUPPORT ESTABLISHED RELIGIOUS AND CHARITABLE ORGANIZATIONS, AND TO SUPPORT AND FACILITATE AS A SUPPORTING ORGANIZATION THE EDUCATIONAL MISSION OF THE ARKANSAS COLLEGES OF HEALTHCARE EDUCATION.

  • THE ORGANIZATION WAS FORMED TO ADMINISTER GIFTS IN SUPPORT OF SPARKS HEALTH SYSTEM AND TO PROMOTE THE HEALTHCARE SERVICES OF SPARKS HEALTH SYSTEM AS A SUPPORTING ORGANIZATION. SPARKS HEALTH SYSTEM ASSETS WERE SOLD 11/30/2009 AND THE ORGANIZATION WILL ASSIST IN DISTRIBUTING, WHEN NEEDED, THE PROCEEDS FROM THE SALE IN SUPPORT OF CHARITABLE 501(C)3 ORGANIZATIONS IN WESTERN ARKANSAS AND EASTERN OKLAHOMA. ON APRIL 18, 2014 THE BOARD OF SPARKS PASSED A RESOLUTION TO CONTRIBUTE UP TO $50,000,000 AS A RESTRICTED CONTRIBUTION IN SUPPORT OF DEVELOPING AN INSTITUTION OF HEALTH EDUCATION. THE ARKANSAS COLLEGES OF HEALTH EDUCATION (ACHE) WAS ORGANIZED AND THE BALANCE OF THE SPARKS FUNDS WERE TRANSFERRED TO ACHE IN SEPTEMBER 2017. IN JUNE 2019, THE DEGEN BOARD VOTED TO BECOME A SUPPORTING ORGANIZATION TO ACHE WHILE CONTINUING TO FUND LOCAL AND RELIGIOUS HEALTHCARE RELATED TO 501(C)3 ORGANIZATIONS AND HEALTHCARE RELATED STUDENT SCHOLARSHIPS.

    Expenses $478,554 · Grants $478,554

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • KAREN PHARIS

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOHN R TAYLOR

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JUDY BOREHAM DAWSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BENNY GOODEN EDD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT COOPER

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • DAVID CRAIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AMY MENDENHALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JEFF BEAUCHAMP

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DON HUTCHINGS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MITZY LITTLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CARLY S MARSHALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AUDRA JACKSON MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RODNEY SHEPARD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR JUSTIN VORIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THOMAS H WEBB JR

    EXECUTIVE DIRECTOR

    Total calculated
    $24,000
    From this org
    $24,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

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.

  • ARKANSAS COLLEGES OF HEALTH EDUCATION

    501(C)(3) · MEDICAL COLLEGE · AR

Provenance

Return type
form_990
Tax year
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202421369349303162

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.