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Westminster Educational Foundation Incorporated

Tax-deductible

Philadelphia, PA501(c)(3)Since 1989EIN 23-2565132Revenue $81K in FY2024

On file with the IRSWillow Grove Ave Church Road, 19118-0000 · Philadelphia, PATax-exempt since Oct 1989Publicly supported charity — 170(b)(1)(A)(vi)

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The Foundation was established to solicit gifts through wills, annuities, insurance, and other means, and use the interest and principal to further the Educational goals of the Westminster theological seminary.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Run by 2 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $12K a year · 14% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 5 voting members
Worth a look: 1 of 5 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$81K
+76% vs prior year
Spent
$97K
To programs
92%
Net assets
$1.6M
By yearFY2020–FY2024
Revenue
$81K
FY2024▲ +76%
Tap a bar for its year
Revenue by fiscal year
FY2020$30K
FY2021$140K
FY2022$144K
FY2023$72K
FY2024$46K
FY2024$81K
Expenses
$97K
FY2024▲ +39%
Tap a bar for its year
Expenses by fiscal year
FY2020$85K
FY2021$71K
FY2022$78K
FY2023$67K
FY2024$70K
FY2024$97K
Net assets
$1.6M
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$1.6M
FY2022$1.4M
FY2023$1.5M
FY2024$1.5M
FY2024$1.6M

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1989.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $89K Management & general 8% · $8K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Peter Lillback
Board Member
$0Pt VII · Sec A
Jerry Timmis
Board Member
$0Pt VII · Sec A
David Garner
Board Member
$0Pt VII · Sec A
Steve Carter
Board Member
$0Pt VII · Sec A
Zachary Aills
Board Member
$0Pt VII · Sec A
Rex Anderson
Board Member (part Year)
$0Pt VII · Sec A
Chun Lai
Chief Operating Officer
$0Pt VII · Sec A
See Westminster Educational Foundation Incorporated executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports Westminster Theological Seminary's educational mission.

Provided by the organization

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1 program · $89K · in their own filed words · FY2024
01

Grant to the westminster theological seminary.

$89Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $421K · 2019–2024
Westminster Theological SeminaryPA · FY2024$89,277
Westminster Theological SeminaryPA · FY2023$62,480
Westminster Theological SeminaryPA · FY2022$60,397
Westminster Theological SeminaryPA · FY2021$69,310
Westminster Theological SeminaryPA · FY2020$63,488
Westminster Theological SeminaryPA · FY2019$75,949

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$81K
Ln 12
Investment incomeLn 3$81K
Money outPt IX
$97K
Ln 25
Programscol B$89K
Managementcol C$8K
Owns and owesPt X
$1.6M
net assets · Ln 32
Total assetsLn 16$1.6M
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$81K
Gains on assetsLn 7$30K
Total revenueLn 12$81K
Assets in detailPt X, end of year
InvestmentsLn 11–13$1.6M
Total assetsLn 16$1.6M
LiabilitiesLn 26$0
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
InvestmentsLn 11–13$1.5M$1.6M
Total assetsLn 16$1.5M$1.6M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.5M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$89K$89K
Investment management feesLn 11f$8K$8K
Total functional expensesLn 25$97K$89K$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $46K$70K−$23K$1.5M 990 PDF
FY2023 $72K$67K$4K$1.5M 990 PDF
FY2022 $144K$78K$66K$1.4M 990 PDF
FY2021 $140K$71K$69K$1.6M 990 PDF
FY2020 $30K$85K−$55K$1.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $81,299 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $46,262$81,299
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $46,262$81,299
I-13 Grants and similar amounts paidPrior year $62,480$89,277
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $7,098$7,533
I-18 Total expensesPrior year $69,578$96,810
I-19 Revenue less expensesPrior year −$23,316−$15,511
Part VI · Governance 1 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members1
VI-12a Written conflict of interest policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $81,299 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $50,932$50,932
VIII-7 Net gain or loss on sales of assetsExcluded from tax $30,367$30,367
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $81,299$81,299
Part IX · Statement of functional expenses $96,810 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $89,277$89,277
IX-11f Investment management feesManagement $7,533$7,533
IX-25 Total functional expensesPrograms $89,277 · Management $7,533 · Fundraising $0$96,810
Part X · Balance sheet $1,607,296 assets, 6 lines filed
X-11 Publicly traded securitiesStart of year $1,519,744$1,607,296
X-16 Total assetsStart of year $1,519,744$1,607,296
X-26 Total liabilitiesStart of year $0$0
X-28 Net assets with donor restrictionsStart of year $1,519,744$1,607,296
X-32 Total net assets or fund balancesStart of year $1,519,744$1,607,296
X-33 Total liabilities and net assetsStart of year $1,519,744$1,607,296
Part XI · Reconciliation of net assets $1,607,296 net assets at year end
XI-1 Total revenue$81,299
XI-2 Total expenses$96,810
XI-3 Revenue less expenses−$15,511
XI-4 Net assets at start of year$1,519,744
XI-5 Net unrealized gains (losses) on investments$103,063
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,607,296

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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