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← WESTMINSTER-CANTERBURY ON CHESAPEAKE BAY FOUNDATION

Form 990 for tax year 2022

Filed by WESTMINSTER-CANTERBURY ON CHESAPEAKE BAY FOUNDATION.

Totals

Total revenue
$1,881,536
Total expenses
$1,590,634
Contributions and grants received
$1,390,645
Grants paid
$995,970
Program service revenue
$0
Investment income
$502,910
Other revenue
-$12,019
Total assets, end of year
$17,047,587
Total liabilities, end of year
$374,150
Net assets or fund balances, end of year
$16,673,437
Program services expenses (Part IX)
$1,246,727
Management and general expenses
$77,227
Fundraising expenses
$266,680
Program service expenses (Part III)
$1,246,727

Program services were 78.4% 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.

  • 1c · Fundraising events

    $143,967

  • 1f · All other contributions, gifts and grants

    $1,246,678

  • 3 · Investment income

    total $469,008 · excluded $469,008

  • 7a · Gross sales of assets other than inventory

    securities $33,902

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

    securities $0

  • 7c · Gain or loss

    securities $33,902

  • 7d · Net gain or loss

    total $33,902 · excluded $33,902

  • 8a · Fundraising events: gross income

    $37,103

  • 8a · Fundraising events: contributions included on line 1c

    $143,967

  • 8b · Fundraising events: direct expenses

    $49,122

  • 8c · Net income from fundraising events

    total -$12,019 · excluded -$12,019

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $995,970 · program services $995,970

  • 7 · Other salaries and wages

    total $197,497 · fundraising $197,497

  • 9 · Other employee benefits

    total $26,272 · fundraising $26,272

  • 10 · Payroll taxes

    total $12,608 · fundraising $12,608

  • 11g · Fees: other

    total $38,355 · management and general $38,355

  • 13 · Office expenses

    total $35,885 · management and general $35,885

  • 17 · Travel

    total $109 · management and general $109

  • 19 · Conferences, conventions and meetings

    total $750 · management and general $750

  • 24a · Other expenses: PROGRAM SERVICES EXPENS

    total $250,757 · program services $250,757

  • 24b · Other expenses: FUNDRAISING EXPENSES

    total $30,303 · fundraising $30,303

  • 24c · Other expenses: MISCELLANEOUS EXPENSES

    total $2,128 · management and general $2,128

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,256,505 · end of year $599,878

  • 4 · Accounts receivable

    beginning of year $222,155 · end of year $238,649

  • 13 · Investments: program-related

    beginning of year $14,001,915 · end of year $16,209,060

  • 17 · Accounts payable and accrued expenses

    beginning of year $90,565 · end of year $84,817

  • 19 · Deferred revenue

    beginning of year $331,494 · end of year $289,333

  • 27 · Net assets without donor restrictions

    beginning of year $2,929,355 · end of year $3,426,456

  • 28 · Net assets with donor restrictions

    beginning of year $12,129,161 · end of year $13,246,981

Mission and programs · 2022

Mission

SEE SCHEDULE O

Activities or mission (Part I)

TO SUPPORT THE MISSION OF WESTMINSTER-CANTERBURY ON CHESAPEAKE BAY

  • SEE SCHEDULE OWESTMINSTER-CANTERBURY ON CHESAPEAKE BAY FOUNDATION PROVIDED FINANCIAL ASSISTANCE TO APPLICANTS WHO MEET THE ADMISSION REQUIREMENTS AND HAVE SERVED THEIR CHURCH AND/OR COMMUNITY, BUT LACK SUFFICIENT RESOURCES FOR ADMISSION. THE FOUNDATION ALSO PROVIDES FINANCIAL ASSISTANCE FOR RESIDENTS, WHO THROUGH NO FAULT OF THEIR OWN, EXPERIENCE FINANCIAL DIFFICULTIES AND CAN NO LONGER MEET THEIR MONTHLY OBLIGATIONS. DURING THE YEAR, 38 RESIDENTS RECEIVED MONTHLY FEE ASSISTANCE OF $608,787 AND 2 RESIDENTS RECEIVED ENTRANCE FEE ASSISTANCE OF $173,610. THE FOUNDATION ALSO PAID AN ADDITIONAL $136,790 TO RESIDENTS TO ASSIST WITH MEDICAL AND OTHER MISCELLANEOUS EXPENSES.THE RESIDENT EDUCATION FUND PROVIDES SCHOLARSHIP GRANTS TO EMPLOYEES AND CHILDREN OF EMPLOYEES ENROLLED IN A PROGRAM (USUALLY A DEGREE-GRANTING PROGRAM) AT AN ACCREDITED INSTITUTION OF HIGHER LEARNING. DURING THE YEAR, THE FUND AWARDED SCHOLARSHIP GRANTS TOTALING $76,783 TO 36 RECIPIENTS.

    Expenses $995,970 · Grants $995,970

  • WESTMINSTER-CANTERBURY ON CHESAPEAKE BAY FOUNDATION HOLDS SEVERAL DIFFERENT FUNDS SUCH AS THE EMPLOYEE EMERGENCY FUND, THE CHAPEL FUND, THE LIBRARY FUND, ETC. THESE FUNDS ARE USED TO PROVIDE SERVICES TO THE RESIDENTS AND EMPLOYEES. CONTRIBUTIONS ARE COLLECTED AND THE FUNDS ARE HELD FOR EXPENDITURES RELATED TO THESE FUNDS.

    Expenses $250,757

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

Listed in Part VII

  • Dr William C Hedrick

    TRUSTEE, CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Forrest E Williams

    TRUSTEE, VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Linda Lowrance

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Robert Herbert

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Terry Jenkins

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Donald Glenum

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mary Wolfe

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Shirley G Wharton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • James Russell

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Leslie Watson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joe Varner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • George Roberts

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Helen Bernd

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Craig Bisek

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Craig Cope

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Laura Fulton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • J Benjamin Unkle Jr

    PRESIDENT/CEO

    Total calculated
    $675,350
    From this org
    $0
    From related orgs
    $642,844
    Other
    $32,506
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $407,914 related
    Bonus
    $0 + $169,250 related
    Other
    $0 + $65,680 related
    Deferred
    $0 + $11,267 related
    Nontaxable benefits
    $0 + $21,239 related
    Filer's total
    $0 + $675,350 related

  • David B Myers

    CFO/ASSISTANT TREASURER

    Total calculated
    $284,835
    From this org
    $0
    From related orgs
    $268,580
    Other
    $16,255
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $229,367 related
    Bonus
    $0 + $36,071 related
    Other
    $0 + $3,142 related
    Deferred
    $0 + $10,618 related
    Nontaxable benefits
    $0 + $5,637 related
    Filer's total
    $0 + $284,835 related

  • Ashley Allman

    VP DEVELOPMENT & MARKETING

    Total calculated
    $243,976
    From this org
    $0
    From related orgs
    $212,264
    Other
    $31,712
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $177,580 related
    Bonus
    $0 + $34,684 related
    Other
    $0
    Deferred
    $0 + $8,893 related
    Nontaxable benefits
    $0 + $22,819 related
    Filer's total
    $0 + $243,976 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

  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related organization's net earnings

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 6a · Pay contingent on this 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 1B
APPROVED EXPENSE REPORT ALONG WITH SUPPORTING RECEIPTS MUST BE SUBMITTED PRIOR TO REIMBURSEMENT.
PART I, LINE 3
THE POLICY OF THE ORGANIZATION IS TO SET COMPENSATION AT MARKET PAY FOR ALL EMPLOYEES WHO ARE FULLY COMPETENT IN THEIR POSITIONS. MARKET PAY IS DETERMINED BY INDEPENDENT, OUTSIDE EXPERTS. ADDITIONALLY, A SUBSTANTIAL PORTION OF THE PRESIDENT AND CEO'S COMPENSATION IS AT-RISK PAY LINKED TO SPECIFIC GOALS AND RESULTS. ADDITIONALLY, THE BOARD PROVIDES A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) FOR THE CEO CONTINGENT IN PART UPON LONGEVITY OF EMPLOYMENT TO ENCOURAGE RETENTION. TO DETERMINE COMPENSATION FOR THE PRESIDENT AND CEO, THE BOARD'S EXECUTIVE COMMITTEE, ACTING AS A PERSONNEL COMMITTEE, ENGAGES AN INDEPENDENT CONSULTANT WHO SPECIALIZES IN EXECUTIVE COMPENSATION. THE INDEPENDENT CONSULTANT PROVIDES THE EXECUTIVE COMMITTEE COMPENSATION DATA REPRESENTING COMPARABLE POSITIONS IN ORGANIZATIONS OF SIMILAR INDUSTRIES WITH SIMILAR REVENUE AND BUDGET SIZE. THE EXECUTIVE COMMITTEE USES THIS INFORMATION AND THE RECOMMENDATIONS OF THE INDEPENDENT CONSULTANT AS THE BASIS FOR SETTING COMPENSATION.
PART I, LINE 4B
INCLUDED IN THE COMPENSATION OF J. BENJAMIN UNKLE, JR. IS $68,169 FROM A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). FOR DETAILS OF HOW THE ORGANIZATION SETS COMPENSATION, PLEASE SEE THE DESCRIPTION IN THE NOTE FOR PART I, LINE 3.
PART I, LINE 5
SOME OF THE MANAGEMENT STAFF'S BONUSES ARE CONTINGENT ON HITTING CERTAIN TARGETED REVENUE AMOUNTS.
PART I, LINE 6
SOME OF THE MANAGEMENT STAFF'S COMPENSATION IS AT-RISK PAY DRIVEN BY A BALANCED SCORECARD TO INCLUDE FINANCIAL PERFORMANCE, QUALITY METRICS, AND SATISFACTION OF CONSTITUENTS SERVED IN ACHIEVING OUR MISSION.

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • LYNNHAVEN FISHING PIER CORPORATION

    S · REAL ESTATE HELD FOR WESTMINSTER CANTERBURY · VA

    Directly controlled by WESTMINSTER CANTERBURY ON CHESAPEAKE BAY

Provenance

Return type
form_990
Tax year
2022
Filed
13 August 2024
IRS schema version
2022v5.0
Source object
202412279349302651

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