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Nonprofiteer
← WESTMINSTER FOUNDATION III INC

Form 990 for tax year 2022

Filed by WESTMINSTER FOUNDATION III INC.

Totals

Total revenue
$185,975
Total expenses
$2,553
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$185,975
Other revenue
$0
Total assets, end of year
$23,634,763
Total liabilities, end of year
$1,203,431
Net assets or fund balances, end of year
$22,431,332
Program services expenses (Part IX)
$0
Management and general expenses
$2,553
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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 $112,008 · excluded $112,008

  • 7a · Gross sales of assets other than inventory

    securities $1,154,274

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

    securities $1,080,307

  • 7c · Gain or loss

    securities $73,967

  • 7d · Net gain or loss

    total $73,967 · excluded $73,967

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $2,553 · management and general $2,553

Balance sheet

Part X, book values.

  • 7 · Other notes and loans receivable

    beginning of year $15,656,238 · end of year $14,520,898

  • 11 · Investments: publicly traded securities

    beginning of year $2,238,002 · end of year $2,381,064

  • 15 · Other assets

    beginning of year $5,837,955 · end of year $6,732,801

  • 25 · Other liabilities

    beginning of year $1,203,431 · end of year $1,203,431

  • 27 · Net assets without donor restrictions

    beginning of year $22,528,764 · end of year $22,431,332

Mission and programs · 2022

Mission

WESTMINSTER FOUNDATION III, INC IS A NON-PROFIT ORGANIZATION SEPARATE FROM WESTMINSTER RETIREMENT COMMUNITIES, INC. AND ITS AFFILIATES, ESTABLISHED TO PROVIDE CHARITABLE FUNDS FOR THE SUPPORT OF NEEDY PERSONS, PROJECTS AND PROGRAMS AT RETIREMENT COMMUNITIES AND HEALTH CARE FACILITIES OWNED, OPERATED AND MANAGED BY WESTMINSTER RETIREMENT COMMUNITIES, INC. AND PRESBYTERIAN RETIREMENT COMMUNITIES, INC. ALL BENEVOLENT ASSISTANCE FOR RESIDENTS, INVESTMENTS, AND CERTAIN RELATED LIABILITIES ARE MAINTAINED BY THE FOUNDATION. ALL MEMBER'S OF WESTMINSTER FOUNDATION III, INC.'S BOARD OF DIRECTORS ARE ALSO THE MEMBERS OF THE FOUNDATION'S BOARD OF DIRECTORS.

  • GRANTS TO PRESBYTERIAN RETIREMENT COMMUNITIES, INC., WESTMINSTER RETIREMENT COMMUNITIES, INC. AND THEIR AFFILIATES.

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

Listed in Part VII

  • Terence Rogers

    CEO/PRESIDEN

    Total calculated
    $700,873
    From this org
    $0
    From related orgs
    $664,385
    Other
    $36,488

    Schedule J breakdown matched by us

    Base
    not reported + $568,283 related
    Bonus
    not reported + $76,309 related
    Other
    not reported + $19,793 related
    Deferred
    not reported + $24,156 related
    Nontaxable benefits
    not reported + $12,332 related
    Filer's total
    not reported + $700,873 related

  • Henry T Keith

    CFO/TREASUR/

    Total calculated
    $555,037
    From this org
    $0
    From related orgs
    $530,394
    Other
    $24,643

    Schedule J breakdown matched by us

    Base
    not reported + $454,118 related
    Bonus
    not reported + $50,447 related
    Other
    not reported + $25,829 related
    Deferred
    not reported + $13,663 related
    Nontaxable benefits
    not reported + $10,980 related
    Filer's total
    not reported + $555,037 related

  • Garry Hennis

    COO/EXECUTIV

    Total calculated
    $485,460
    From this org
    $0
    From related orgs
    $464,464
    Other
    $20,996

    Schedule J breakdown matched by us

    Base
    not reported + $399,639 related
    Bonus
    not reported + $42,266 related
    Other
    not reported + $22,559 related
    Deferred
    not reported + $10,016 related
    Nontaxable benefits
    not reported + $10,980 related
    Filer's total
    not reported + $485,460 related

  • John Hillenmeyer

    CHAIRMAN

    Total calculated
    $0

  • Megan Faubel

    SECRETARY

    Total calculated
    $0

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)

SCHEDULE J, PAGE 1, PART I, LINE 3
THE ORGANIZATION RELIED ON A RELATED ORGANIZATION (WESTMINSTER SERVICES, INC. 59-3614812) FOR COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
6 February 2024
IRS schema version
2022v5.0
Source object
202420449349300602

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