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Nonprofiteer
← THREE CROWNS FOUNDATION

Form 990 for tax year 2022

Filed by THREE CROWNS FOUNDATION.

Totals

Total revenue
$89,129
Total expenses
$11,300
Contributions and grants received
$74,499
Grants paid
$4,935
Program service revenue
$0
Investment income
$14,630
Other revenue
$0
Total assets, end of year
$415,409
Total liabilities, end of year
$1,504,963
Net assets or fund balances, end of year
-$1,089,554
Program services expenses (Part IX)
$4,935
Management and general expenses
$6,365
Fundraising expenses
$0
Program service expenses (Part III)
$4,935

Program services were 43.7% 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

    $74,499

  • 3 · Investment income

    total $12,720 · excluded $12,720

  • 7a · Gross sales of assets other than inventory

    securities $1,910

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

    securities $0

  • 7c · Gain or loss

    securities $1,910

  • 7d · Net gain or loss

    total $1,910 · excluded $1,910

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,935 · program services $4,935

  • 11b · Fees: legal

    total $551 · management and general $551

  • 11f · Fees: investment management

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

  • 13 · Office expenses

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

  • 24a · Other expenses: LIABILITY WRITE OFF

    total $3,315 · management and general $3,315

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $122,703 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $382,858 · end of year $415,409

  • 25 · Other liabilities

    beginning of year $1,698,898 · end of year $1,504,963

  • 27 · Net assets without donor restrictions

    beginning of year -$1,438,481 · end of year -$1,401,641

  • 28 · Net assets with donor restrictions

    beginning of year $245,144 · end of year $312,087

Mission and programs · 2022

Mission

THREE CROWNS FOUNDATION IS AN AFFILIATE OF COVENANT LIVING COMMUNITIES AND SERVICES AND CARRIES OUT THE COVENANT LIVING MISSION STATEMENT (SEE SCHEDULE O)

Activities or mission (Part I)

THE FOUNDATION PROVIDES ADMINISTRATIVE ASSISTANCE, MANAGEMENT ADVICE, INVESTMENT ADVICE, & FINANCIAL ASSISTANCE TO THREE CROWNS PARK, A 501(C)(3) ORGANIZATION.

  • SUPPORT FOR THREE CROWNS PARK, A RELATED ORGANIZATION.

    Expenses $4,935 · Grants $4,935

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

Listed in Part VII

  • Terri S Cunliffe

    DIRECTOR/CLCS PRESIDENT/CEO

    Total calculated
    $969,233
    From this org
    $0
    From related orgs
    $934,218
    Other
    $35,015
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $572,627 related
    Bonus
    $0 + $184,727 related
    Other
    $0 + $176,864 related
    Deferred
    $0 + $9,150 related
    Nontaxable benefits
    $0 + $25,982 related
    Filer's total
    $0 + $969,350 related

  • Jean E Justie

    CFO/TREASURER/ASST SECRETARY

    Total calculated
    $492,891
    From this org
    $0
    From related orgs
    $410,044
    Other
    $82,847
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $289,279 related
    Bonus
    $0 + $58,752 related
    Other
    $0 + $62,013 related
    Deferred
    $0 + $48,359 related
    Nontaxable benefits
    $0 + $42,790 related
    Filer's total
    $0 + $501,193 related

  • David G Erickson

    SR VP & GEN COUNSEL/ASST SECRETARY

    Total calculated
    $491,537
    From this org
    $0
    From related orgs
    $388,258
    Other
    $103,279
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $329,475 related
    Bonus
    $0
    Other
    $0 + $58,783 related
    Deferred
    $0 + $69,031 related
    Nontaxable benefits
    $0 + $40,985 related
    Filer's total
    $0 + $498,274 related

  • William Rabe

    SR VP ENTERPRISE OPS/ASST SECRETARY

    Total calculated
    $471,649
    From this org
    $0
    From related orgs
    $414,211
    Other
    $57,438
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $268,100 related
    Bonus
    $0 + $62,715 related
    Other
    $0 + $83,396 related
    Deferred
    $0 + $44,342 related
    Nontaxable benefits
    $0 + $18,757 related
    Filer's total
    $0 + $477,310 related

  • Amy Lacroix

    FORMER SVP COMMUNITY OPS

    Total calculated
    $397,970
    From this org
    $0
    From related orgs
    $348,336
    Other
    $49,634
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $229,927 related
    Bonus
    $0 + $55,080 related
    Other
    $0 + $63,329 related
    Deferred
    $0 + $35,170 related
    Nontaxable benefits
    $0 + $20,269 related
    Filer's total
    $0 + $403,775 related

  • Todd Slechta

    DIRECTOR/EX-OFFICIO

    Total calculated
    $336,198
    From this org
    $0
    From related orgs
    $288,273
    Other
    $47,925
    Hours/week
    0.1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $240,108 related
    Bonus
    $0 + $17,175 related
    Other
    $0 + $30,990 related
    Deferred
    $0 + $24,368 related
    Nontaxable benefits
    $0 + $24,636 related
    Filer's total
    $0 + $337,277 related

  • Tanderia Brown

    SVP OF HUMAN RESOURCES

    Total calculated
    $272,415
    From this org
    $0
    From related orgs
    $224,975
    Other
    $47,440
    Hours/week
    1 + 59 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,086 related
    Bonus
    $0
    Other
    $0 + $30,889 related
    Deferred
    $0 + $29,447 related
    Nontaxable benefits
    $0 + $18,019 related
    Filer's total
    $0 + $272,441 related

  • Cory Stern

    FORMER INTERIM FINANCE LEAD/TREAS.

    Total calculated
    $257,294
    From this org
    $0
    From related orgs
    $226,287
    Other
    $31,007
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0 + $150,599 related
    Bonus
    $0 + $15,548 related
    Other
    $0 + $60,140 related
    Deferred
    $0 + $22,098 related
    Nontaxable benefits
    $0 + $9,215 related
    Filer's total
    $0 + $257,600 related

  • Philip Hemmer

    EXECUTIVE DIRECTOR

    Total calculated
    $202,655
    From this org
    $0
    From related orgs
    $199,711
    Other
    $2,944
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $66,770 related
    Bonus
    $0
    Other
    $0 + $132,941 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $3,050 related
    Filer's total
    $0 + $202,761 related

  • Dennis Trautvetter

    FINANCE MANAGER

    Total calculated
    $155,043
    From this org
    $0
    From related orgs
    $153,217
    Other
    $1,826
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $153,217 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $1,875 related
    Filer's total
    $0 + $155,092 related

  • Tammy Swanson-Draheim

    DIRECTOR/EX-OFFICIO

    Total calculated
    $108,160
    From this org
    $0
    From related orgs
    $62,214
    Other
    $45,946
    Hours/week
    0.1 + 42 related

  • Emily Warnygora

    ASSISTANT SECRETARY

    Total calculated
    $98,313
    From this org
    $0
    From related orgs
    $92,734
    Other
    $5,579
    Hours/week
    1 + 59 related

  • Jay Prince

    SVP, COMMUNITY OPS/ASST SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 59 related

  • Janet Creaney

    DIRECTOR/CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Lorene Flewellen

    DIRECTOR/VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Janet Goelz Hoffman

    DIRECTOR/SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Sarah Bentley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Kathy Buettner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Pamela Christensen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Arthur Derooy

    DIRECTOR/EX-OFFICIO

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • John Fredrickson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Kurt Kincanon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Robert Martin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Jennifer Means

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Loann Peterson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Susan Poston

    DIRECTOR/EX-OFFICIO

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Dixie Reppe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Andrew Vanover

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2 related

  • Mary Palmer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 2 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

  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
SEE SCHEDULE O EXPLANATION FOR FORM 990 PART VI SECTION B LINE 15 FOR THE METHODS USED TO DETERMINE CEO COMPENSATION. THE REVIEW AND APPROVAL PROCESS IS DESIGNED TO SATISFY AND QUALIFY FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER THE INTERNAL REVENUE CODE SECTION 4958.
PART I, LINE 4B
EXECUTIVE BENEFIT PLAN COVENANT MINISTRIES OF BENEVOLENCE (CMB), A RELATED ORGANIZATION, PROVIDES CERTAIN SUPPLEMENTAL RETIREMENT BENEFITS TO ITS OFFICERS AND KEY EMPLOYEES. THESE BENEFITS ARE PROVIDED THROUGH A NONQUALIFIED DEFERRED COMPENSATION PLAN, UNDER WHICH A PORTION OF THE BENEFITS BEING EARNED ARE SUBJECT TO A "SUBSTANTIAL RISK OF FORFEITURE." THE SUPPLEMENTAL RETIREMENT BENEFITS ARE STRUCTURED TO PROVIDE A RETENTION INCENTIVE THAT HAS BEEN DETERMINED BY THE EXECUTIVE COMPENSATION COMMITTEE OF CMB'S BOARD ("COMMITTEE") TO BE OF SUBSTANTIAL VALUE TO THE ORGANIZATION. THE COMMITTEE APPROVES ALL RETIREMENT BENEFITS, TOGETHER WITH ALL OTHER FORMS OF COMPENSATION AND BENEFITS FOR THESE AND OTHER EXECUTIVES, IN A MANNER INTENDED TO QUALIFY FOR THE REBUTTABLE PRESUMPTION OF REASONABLENESS UNDER THE INTERMEDIATE SANCTIONS RULES OF FEDERAL INCOME TAX LAW. THE FOLLOWING ARE PARTICIPANTS IN THE PLAN: TERRI CUNLIFFE DAVID ERICKSON WILLIAM RABE JEAN JUSTIE AMY LACROIX TODD SLECHTA CORY STERN TANDERIA BROWN IN 2022, THESE INDIVIDUALS VESTED IN THE PLAN IN THE FOLLOWING AMOUNTS: TERRI CUNLIFFE - $112,308 DAVID ERICKSON - $32,820 WILLIAM RABE - $26,335 CORY STERN - $14,048 IN 2022, THESE INDIVIDUALS RECEIVED DISTRIBUTIONS FROM THE PLAN IN THE FOLLOWING AMOUNTS: DAVID ERICKSON - $12,779
PART I, LINE 7
THE FOLLOWING APPLIES TO CERTAIN INDIVIDUALS LISTED ON PART VII WHOSE COMPENSATION IS PAID FROM RELATED ORGANIZATIONS: THE EXECUTIVE COMPENSATION COMMITTEE (OF CMB'S BOARD) FOLLOWS A PRESCRIBED METHOD FOR CALCULATING INCENTIVE COMPENSATION AWARDS. THE CALCULATION IS BASED ON MEASURABLE TARGETS DETERMINED AT THE BEGINNING OF THE YEAR. THE COMMITTEE HAS THE ABILITY TO ADJUST THE DOLLAR VALUE OF THE CALCULATED AWARDS BY UP TO 10%. THE ADJUSTMENT CAN BE AN UPWARD OR DOWNWARD ADJUSTMENT BASED ON VARIOUS PERFORMANCE FACTORS OR ON FACTORS THAT WILL ASSURE THAT FINAL INCENTIVE COMPENSATION AWARDS ARE IN THE BEST INTEREST OF THE ORGANIZATION AND APPROPRIATELY REFLECT THE PERFORMANCE OF THE ORGANIZATION. REFER TO ADDITIONAL INFORMATION ON THE COMMITTEE INCLUDED IN SCHEDULE O. PART II, COLUMN B (II): BONUS AND INCENTIVE COMPENSATION - CERTAIN KEY PERSONS EMPLOYED BY COVENANT LIVING AND CMB ARE ELIGIBLE FOR INCENTIVE COMPENSATION AS DETERMINED BY THE EXECUTIVE COMPENSATION COMMITTEE OF EITHER THE COVENANT LIVING OR CMB'S BOARD BASED ON WHERE THESE INDIVIDUALS ARE EMPLOYED. INCENTIVES RELATED TO THE ACHIEVEMENT OF TARGETS FOR THE TWELVE MONTHS ENDED 9/30/21 WERE PAID OUT IN 2022 FOR CLCS AND RELATED ENTITIES. INCENTIVES RELATED TO CMB'S ACHIEVEMENT OF TARGETS FOR THE TWELVE-MONTHS ENDED 9/30/22 WERE PAID OUT IN 2022. PART II, COLUMN D: NONTAXABLE BENEFITS INCLUDE HEALTH INSURANCE PREMIUMS PAID BY THE EMPLOYER AND EMPLOYEE.

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

No itemized grants to organizations 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.

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.

  • COVENANT INTERNATIONAL INSURANCE COMPANY LTD

    C · INSURANCE · BD

  • COVENANT TRUST COMPANY

    C · FINANCIAL SERVICES · IL

  • COVENANT LIVING HOLDINGS THREE INC

    C · CONSULTING SERVICES · IL

Provenance

Return type
form_990
Tax year
2022
Filed
23 July 2024
IRS schema version
2022v5.0
Source object
202422139349301707

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