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Nonprofiteer
← VERLAND ENDOWMENT

Form 990 for tax year 2022

Filed by VERLAND ENDOWMENT.

Totals

Total revenue
$655,827
Total expenses
$669,618
Contributions and grants received
$50,500
Grants paid
$581,577
Program service revenue
$0
Investment income
$605,327
Other revenue
$0
Total assets, end of year
$15,593,125
Total liabilities, end of year
$15
Net assets or fund balances, end of year
$15,593,110
Program services expenses (Part IX)
$581,577
Management and general expenses
$88,041
Fundraising expenses
$0
Program service expenses (Part III)
$581,577

Program services were 86.9% 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

    $50,500

  • 3 · Investment income

    total $367,200 · excluded $367,200

  • 7a · Gross sales of assets other than inventory

    securities $238,127

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

    securities $0

  • 7c · Gain or loss

    securities $238,127

  • 7d · Net gain or loss

    total $238,127 · excluded $238,127

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $581,577 · program services $581,577

  • 11f · Fees: investment management

    total $88,041 · management and general $88,041

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $30,136 · end of year $1,031,291

  • 4 · Accounts receivable

    end of year $50,500

  • 11 · Investments: publicly traded securities

    beginning of year $14,512,218 · end of year $14,411,015

  • 15 · Other assets

    beginning of year $91,480 · end of year $100,319

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $15

  • 27 · Net assets without donor restrictions

    beginning of year $2,370,401 · end of year $2,675,531

  • 28 · Net assets with donor restrictions

    beginning of year $12,263,433 · end of year $12,917,579

Mission and programs · 2022

Mission

VERLAND ENDOWMENT PROVIDES SUPPORT TO MEMBERS OF THE VERLAND SYSTEM BY SOLICITING, MAINTAINING AND INVESTING AN ENDOWMENT FUND OF FUNDS TO BE USED FOR THE GENERAL FINANCIAL SYSTEM, INCLUDING THE MAKING OF CAPITAL CONTRIBUTIONS, GRANTS AND LOANS FOR THE PURPOSE OF MAINTENANCE OF FACILITIES.

Activities or mission (Part I)

VERLAND ENDOWMENT PROVIDES SUPPORT TO THE VERLAND SYSTEM BY SOLICITING, MAINTAINING AND INVESTING AN ENDOWMENT FUND OF FUNDS TO BE USED TO MAKE CAPITAL CONTRIBUTIONS, GRANTS AND LOANS FOR FACILITY MAINTENANCE.

  • VERLAND ENDOWMENT PROVIDES SUPPORT TO MEMBERS OF THE VERLAND SYSTEM BY SOLICITING, MAINTAINING AND INVESTING AN ENDOWMENT FUND OF FUNDS TO BE USED FOR THE GENERAL FINANCIAL SYSTEM, INCLUDING THE MAKING OF CAPITAL CONTRIBUTIONS, GRANTS AND LOANS FOR THE PURPOSE OF MAINTENANCE OF FACILITIES.

    Expenses $581,577 · Grants $581,577

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

Listed in Part VII

  • William F Harriger

    PRESIDENT/CEO

    Total calculated
    $254,576
    From this org
    $0
    From related orgs
    $225,000
    Other
    $29,576
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $225,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,500 related
    Nontaxable benefits
    $0 + $25,076 related
    Filer's total
    $0 + $254,576 related

  • Jon M Thomas

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.3 + 1.2 related

  • Daniel O'Malley

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.3 + 1.2 related

  • David P Duessel

    TREASURER

    Total calculated
    $0
    Hours/week
    0.3 + 1.2 related

  • Paul B Long

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3 + 0.9 related

  • Elizabeth Bilodeau

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 1.2 related

  • Robert Devlin

    DIRECTOR THROUGH SEPT 2022

    Total calculated
    $0
    Hours/week
    0.3 + 1.2 related

  • Robert F Gaertner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 0.9 related

  • Drew Helon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 0.9 related

  • Raymond Huber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 1.2 related

  • Carol B Mitchell

    DEPUTY CEO & EX-OFFICIO DIRECTOR

    Total calculated
    $102,059
    From this org
    $0
    From related orgs
    $100,000
    Other
    $2,059
    Hours/week
    0 + 8 related

  • Colleen Pietrusinski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 0.9 related

  • Catherine Bogats

    CFO/ASSISTANT TREASURER

    Total calculated
    $176,554
    From this org
    $0
    From related orgs
    $153,293
    Other
    $23,261
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $138,851 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $9,442 related
    Deferred
    $0 + $2,299 related
    Nontaxable benefits
    $0 + $20,962 related
    Filer's total
    $0 + $176,554 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

The filer's explanations (Part III)

PART I, LINE 3
THE HR COMMITTEE OF THE BOARD REVIEWS THE COMPENSATION OF THE ORGANIZATION'S PRESIDENT/CEP AND DEPUTY CEO. THIS REVIEW UTILIZES AND HAS UTILIZED NUMEROUS INDEPENDENT PERSONS AND RESOURCES, INCLUDIND AN INDEPENDENT COMPENSATION CONSULTANT, A SURVEY OF COMPARABLE DATA FROM FORM 990 OF OTHER ORGANIZATIONS, AND COMPENSATION SURVEYS AND STUDIES. THE HR COMMITTEE OF THE BOARD APPROVES THE COMPENSATION.

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
2022
Filed
13 May 2024
IRS schema version
2022v5.0
Source object
202411369349303956

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