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← FOUNDATION ENTERTAINMENT COMPANY

Form 990 for tax year 2022

Filed by FOUNDATION ENTERTAINMENT COMPANY.

Totals

Total revenue
$4,067,189
Total expenses
$366,890
Contributions and grants received
$4,001,000
Grants paid
$0
Program service revenue
$0
Investment income
$66,189
Other revenue
$0
Total assets, end of year
$12,495,109
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$12,495,109
Program services expenses (Part IX)
$327,218
Management and general expenses
$39,672
Fundraising expenses
$0
Program service expenses (Part III)
$327,218

Program services were 89.2% 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

    $4,001,000

  • 3 · Investment income

    total $65,938 · excluded $65,938

  • 7a · Gross sales of assets other than inventory

    securities $251

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

    securities $0

  • 7c · Gain or loss

    securities $251

  • 7d · Net gain or loss

    total $251 · excluded $251

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $300,000 · program services $300,000

  • 9 · Other employee benefits

    total $1,204 · program services $1,204

  • 10 · Payroll taxes

    total $13,464 · program services $13,464

  • 11b · Fees: legal

    total $2,578 · management and general $2,578

  • 11c · Fees: accounting

    total $6,699 · management and general $6,699

  • 11g · Fees: other

    total $3,847 · program services $1,625 · management and general $2,222

  • 14 · Information technology

    total $1,417 · management and general $1,417

  • 22 · Depreciation, depletion and amortization

    total $10,256 · program services $10,256

  • 23 · Insurance

    total $26,424 · management and general $26,424

  • 24a · Other expenses: TELEPHONE

    total $669 · program services $669

  • 24b · Other expenses: MAILING AND POSTAGE

    total $232 · management and general $232

  • 24c · Other expenses: STATE FILING FEE

    total $100 · management and general $100

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $649,575 · end of year $873,754

  • 2 · Savings and temporary cash investments

    beginning of year $7,077,760 · end of year $10,550,752

  • 9 · Prepaid expenses and deferred charges

    beginning of year $26,912 · end of year $26,912

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

    $4,224

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

    $4,224

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $962,620 · end of year $976,004

  • 14 · Intangible assets

    beginning of year $77,933 · end of year $67,677

  • 15 · Other assets

    beginning of year $10 · end of year $10

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $8,794,810 · end of year $12,495,109

Mission and programs · 2022

Mission

TO PRODUCE, DISTRIBUTE AND PROMOTE FAMILY VALUE-BASED, EDUCATIONAL AND/OR CHRISTIAN THEMED PROGRAMMING SO THAT CHILDREN AND ADULTS THROUGHOUT THE COUNTRY AND OTHERS MAY EXPERIENCE ENTERTAINMENT THAT STRENGTHENS FAMILY RELATIONS AND MORAL VALUES THROUGH POSITIVE MESSAGING.

  • FOUNDATION ENTERTAINMENT COMPANY'S EXEMPT PURPOSE WILL BE FULFILLED BY FUNDING, PROMOTING, AND MARKETING FAMILY BASED PROGRAMMING INTO MAINSTREAM MEDIA.

    Expenses $327,218

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

Listed in Part VII

  • Brendon Hansford

    PRESIDENT/TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Jeff Hinebaugh

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1

  • Thomas O'Brien

    EMPLOYEE

    Total calculated
    $300,000
    From this org
    $300,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $300,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $300,000

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

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART 1, LINE 3
THOMAS O'BRIEN IS THE SOLE EMPLOYEE OF THE DISREGARDED ENTITY, FLYOVER PRODUCTIONS (EIN 35-2574990). HE IS THE HIGHEST COMPENSATED EMPLOYEE, WITH A SALARY OF $300,000.

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • EL VUELO HOLDINGS LLC

    INVESTMENT HOLDING COMPANY · FL · income $0 · assets $178,146

    Directly controlled by FOUNDATION ENTERTAINMENT COMPANY

  • FLYOVER PRODUCTIONS LLC

    FILM AND TELEVISION PRODUCTION BUSINESS · FL · income $0 · assets $259,248

    Directly controlled by FLYOVER STUDIOS LLC

  • FLYOVER STUDIOS LLC

    FILM AND TELEVISION STUDIO BUSINESS · FL · income $0 · assets $323,689

    Directly controlled by EL VUELO HOLDINGS LLC

  • FRONT PORCH RESEARCH LLC

    INACTIVE ENTITY · FL · income $0 · assets $4,627

    Directly controlled by EL VUELO HOLDINGS LLC

  • EL VUELO PRODUCTIONS LLC

    INACTIVE ENTITY · FL · income $0

    Directly controlled by EL VUELO HOLDINGS LLC

  • PASHAL PRODUCTIONS LLC

    INACTIVE ENTITY · TN · income $0

    Directly controlled by EL VUELO HOLDINGS LLC

Provenance

Return type
form_990
Tax year
2022
Filed
23 May 2023
IRS schema version
2022v5.0
Source object
202331509349300303

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