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Nonprofiteer
← FAITH LEGACY FOUNDATION INC

Form 990 for tax year 2023

Filed by FAITH LEGACY FOUNDATION INC.

Totals

Total revenue
$204,724
Total expenses
$69,967
Contributions and grants received
$143,569
Grants paid
$55,590
Program service revenue
$0
Investment income
$53,955
Other revenue
$7,200
Total assets, end of year
$3,476,717
Total liabilities, end of year
$1,314,964
Net assets or fund balances, end of year
$2,161,753
Program services expenses (Part IX)
$56,856
Management and general expenses
$13,111
Fundraising expenses
$0
Program service expenses (Part III)
$56,856

Program services were 81.3% 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.

  • 1d · Related organizations

    $18,569

  • 1f · All other contributions, gifts and grants

    $125,000

  • 3 · Investment income

    total $36,052 · excluded $36,052

  • 6a · Gross rents

    real property $7,200

  • 6c · Rental income or loss

    real property $7,200

  • 6d · Net rental income or loss

    total $7,200 · excluded $7,200

  • 7a · Gross sales of assets other than inventory

    securities $2,441,641

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

    securities $2,423,738

  • 7c · Gain or loss

    securities $17,903

  • 7d · Net gain or loss

    total $17,903 · excluded $17,903

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $55,590 · program services $55,590

  • 11c · Fees: accounting

    total $1,266 · program services $1,266

  • 11f · Fees: investment management

    total $9,190 · management and general $9,190

  • 13 · Office expenses

    total $306 · management and general $306

  • 22 · Depreciation, depletion and amortization

    total $3,615 · management and general $3,615

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,082 · end of year $511

  • 7 · Other notes and loans receivable

    beginning of year $634,699 · end of year $817,101

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

    $144,603

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

    $33,440

  • 10c · Land, buildings and equipment, net

    beginning of year $114,778 · end of year $111,163

  • 11 · Investments: publicly traded securities

    beginning of year $2,670,103 · end of year $2,547,942

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,448,795 · end of year $1,314,964

  • 27 · Net assets without donor restrictions

    beginning of year $301,901 · end of year $278,141

  • 28 · Net assets with donor restrictions

    beginning of year $1,670,966 · end of year $1,883,612

Mission and programs · 2023

Mission

THE ORGANIZATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTION OF, OR TO CARRY OUT THE PURPOSES OF ANY PUBLICLY SUPPORTED ORGANIZATION THAT IS ORGANIZED AND OPERATES FOR ONE OR MORE OF THE FOLLOWING PURPOSES: A) ADVANCEMENT OF BELIEF IN AND UNDERSTANDING CHRISTIANITY AND OF CHRISTIAN WORSHIP, B) ADVANCEMENT OR PROVISION OF CHRISTIAN ACADEMIC EDUCATION, C) ADVANCEMENT OF SPIRITUAL, MENTAL, EMOTIONAL, OR PHYSICAL HEALTH, D) RELIEF OF SPIRITUAL, MENTAL, EMOTIONAL, OR PHYSICAL SUFFERING, AND E) PREVENTION OF JUVENILE DELINQUENCY.

  • TO FURTHER CHRISTIAN ACADEMIC EDUCATION AND FURTHER THE BELIEF IN AND UNDERSTANDING IN CHRISTIANITY.

    Expenses $56,856 · Grants $55,590

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

Listed in Part VII

  • Steve Viars

    EX-OFFICIO

    Total calculated
    $242,423
    From this org
    $0
    From related orgs
    $126,646
    Other
    $115,777
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    not reported + $126,646 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $52,237 related
    Nontaxable benefits
    not reported + $63,540 related
    Filer's total
    not reported + $242,423 related
  • Matthew Westhuis

    CFO/TREASURE

    Total calculated
    $148,018
    From this org
    $0
    From related orgs
    $112,715
    Other
    $35,303
  • Scott Grass

    DIRECTOR

    Total calculated
    $127,328
    From this org
    $0
    From related orgs
    $68,622
    Other
    $58,706
    Hours/week
    0.5 + 39.5 related
  • Arvid Olson

    EXECUTIVE DI

    Total calculated
    $123,453
    From this org
    $0
    From related orgs
    $101,017
    Other
    $22,436
    Hours/week
    0.5 + 39.5 related
  • Greg Boyer

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5
  • Travis Pherson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5
  • Erik Roe

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5
  • Grant Whaley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 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

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.

  • FAITH CHURCH OF LAFAYETTE

    501C3 · CHURCH · IN

  • FAITH PROPERTIES

    501C3 · HOLD ASSET · IN

    Directly controlled by FAITH CHUR

  • FAITH LEGACY PROPERTIES

    501C2 · HOLD ASSET · IN

    Directly controlled by FAITH CHUR

  • FAITH CHRISTIAN SCHOOL

    501C3 · SCHOOL · IN

    Directly controlled by FAITH CHUR

  • FAITH BIBLICAL COUNSELING MINISTRIE

    501C3 · COUNSELING · IN

    Directly controlled by FAITH CHUR

  • FAITH GLOBAL MINISTRIES

    501C3 · MISSIONS · IN

    Directly controlled by FAITH CHUR

  • FAITH COMMUNITY MINISTRIES

    501C3 · COMMUNITY · IN

    Directly controlled by FAITH CHUR

  • FAITH BIBLE SEMINARY

    501C3 · SCHOOL · IN

    Directly controlled by FAITH CHUR

  • VISION OF HOPE

    501C3 · WOMENS MIN · IN

    Directly controlled by FAITH CHUR

  • FAITH WEST PROPERTIES

    501C3 · HOLDS PROP · IN

    Directly controlled by FAITH CHUR

  • FAITH CHRISTIAN FELLOWSHIP

    501C3 · MINISTRY · IN

    Directly controlled by FAITH CHUR

  • FAITH COMMUNITY DEVELOPMENT CORP

    501C3 · LOW-INCOME · IN

    Directly controlled by FAITH CHUR

  • NORTHEND PROPERTIES INC

    501C3 · HOLD ASSET · IN

    Directly controlled by FAITH CHUR

  • CARWORKS OF LAFAYETTE

    501C3 · OUTREACH · IN

    Directly controlled by FAITH CHUR

  • NORTHEND COMMUNITY CENTER

    501C3 · OUTREACH · IN

    Directly controlled by FAITH CHUR

Provenance

Return type
form_990
Tax year
2023
Filed
28 April 2025
IRS schema version
2023v6.0
Source object
202541219349301134

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