Form 990 for tax year 2023

Totals

Total revenue

$489,107

Total expenses

$1,157,647

Contributions and grants received

$0

Grants paid

$992,770

Program service revenue

$0

Investment income

$418,553

Other revenue

$70,554

Total assets, end of year

$14,346,833

Total liabilities, end of year

$30,290

Net assets or fund balances, end of year

$14,316,543

Program services expenses (Part IX)

$992,770

Management and general expenses

$164,877

Fundraising expenses

$0

Program service expenses (Part III)

$992,770

Program services were 85.8% 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.

Mission and programs · 2023

• 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. DURING THE YEAR ENDED JUNE 30, 2024, THE UNITED WAY OF FORT SMITH AREA, INC. WAS ADDED AS A SUPPORTED ORGANIZATION OF THE DEGEN FOUNDATION.

  Expenses $992,770 · Grants $992,770

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

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

• ARKANSAS COLLEGES OF HEALTH EDUCATION

  $132,490

  SUPPORT MEDICAL SCHOOL

• METHODIST VILLAGE SENIOR LIVING

  $25,000

  SENSORY SANCTUARY

• COMMUNITY DENTAL CLINIC

  $20,000

  FOR PURCHASE OF DENTAL EQUIPMENT

• MONARCH 61 PROJECT

  $15,000

  YEAR END GIFT

• COMMUNITY SERVICES CLEARINGHOUSE

  $7,800

  YEAR END GIFT

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

• THE UNITED WAY OF FORT SMITH AREA INC

  501(C)(3) · COMMUNITY SUPPORT · AR

Provenance

Return type

form_990

Tax year

2023

Filed

11 May 2025

IRS schema version

2023v6.0

Source object

202531349349304883

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