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Verland Endowment FY2024 filing

Tax-deductible

Sewickley, PA501(c)(3)Since 1978Foundations & Grantmakers EIN 25-1440467Revenue $321K in FY2024

On file with the IRSverland.org212 Iris Rd, 15143-2402 · Sewickley, PATax-exempt since Jul 1984Supporting organization — 509(a)(3)

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Verland Endowment provides support to members of the Verland system by soliciting, maintaining and investing an Endowment fund of funds to be used for the general financial system, including the making of capital contributions, grants and loans for the purpose of maintenance of facilities.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $483K a year · 40% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Plus $16.1M in investments, Pt X · Ln 11–13
Looks good: 8.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$23K
0.1% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 12 voting members
Looks good: 10 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$321K
-51% vs prior year
Spent
$812K
To programs
89%
Net assets
$17.3M
By yearFY2020–FY2025
Revenue
$321K
FY2024▼ -51%
Tap a bar for its year
Revenue by fiscal year
FY2020$309K
FY2021$2.8M
FY2022$723K
FY2023$656K
FY2024$321K
FY2025$2.3M
Expenses
$812K
FY2024▲ +21%
Tap a bar for its year
Expenses by fiscal year
FY2020$615K
FY2021$701K
FY2022$658K
FY2023$670K
FY2024$812K
FY2025$805K
Net assets
$17.3M
FY2024▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$15.0M
FY2021$17.2M
FY2022$14.6M
FY2023$15.6M
FY2024$17.3M
FY2025$19.1M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1984.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $719K Management & general 11% · $93K

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

17 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
William F Harriger
CEO (left 7/31/23)
$0Pt VII · Sec A
Leland Sapp
CEO (started 9/1/2023)
$0Pt VII · Sec A
Carol B Mitchell
Deputy CEO & Ex-Officio Director
$0Pt VII · Sec A
Marianne Dimatteo
COO (started 4/1/2024)
$0Pt VII · Sec A
Jon M Thomas
Chairperson
$0Pt VII · Sec A
Daniel O'Malley
Vice Chairperson
$0Pt VII · Sec A
David P Duessel
Treasurer (left 9/1/23)
$0Pt VII · Sec A
Daniela Wilps
Treasurer (started 9/1/23)
$0Pt VII · Sec A
See Verland Endowment 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

Manages an endowment fund to provide capital, grants, and loans for facility maintenance.

Questions for Verland Endowment

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Provided by the organization

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1 program · $719K · in their own filed words · FY2023
01

Verland endowment provides support to members of the verland system by soliciting, maintaining and investing an endowment fund of funds to be used for the general financial system, including the making of capital contributions, grants and loans for the purpose of maintenance of facilities.

$719Kprogram 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 · 7 grants · $3.7M · 2019–2024
VerlandPA · FY2024$707,049
VerlandPA · FY2023$719,376
VerlandPA · FY2022$581,577
VerlandPA · FY2021$559,631
VerlandPA · FY2020$616,000
Verland ClaPA · FY2019$342,982
Verland Foundation INCPA · FY2019$200,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$321K
Ln 12
Investment incomeLn 3$311K
Gifts and grantsLn 1h$10K
Money outPt IX
$812K
Ln 25
Programscol B$719K
Managementcol C$93K
Owns and owesPt X
$17.3M
net assets · Ln 32
Cash and savingsLn 1–2$573K
Total assetsLn 16$17.3M
LiabilitiesLn 26$23K
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Investment incomeLn 3$311K
Gains on assetsLn 7$34K
Total revenueLn 12$321K
Assets in detailPt X, end of year
CashLn 1$573K
Cash and savings togetherLn 1–2$573K
InvestmentsLn 11–13$16.1M
Other assetsLn 15$704K
Total assetsLn 16$17.3M
LiabilitiesLn 26$23K
Net assetsLn 32$17.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.0M$573K
InvestmentsLn 11–13$14.4M$16.1M
Total assetsLn 16$15.6M$17.3M
LiabilitiesLn 26$15$23K
Net assetsLn 32$15.6M$17.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$719K$719K
Investment management feesLn 11f$93K$93K
Total functional expensesLn 25$812K$719K$93K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.3M$805K$1.5M$19.1M 990 PDF
FY2024 Viewing $321K$812K−$491K$17.3M 990 PDF
FY2023 $656K$670K−$14K$15.6M 990 PDF
FY2022 $723K$658K$65K$14.6M 990 PDF
FY2021 $2.8M$701K$2.1M$17.2M 990 PDF
FY2020 $309K$615K−$306K$15.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $321,325 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $50,500$10,500
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $605,327$310,825
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $655,827$321,325
I-13 Grants and similar amounts paidPrior year $581,577$719,376
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 $88,041$93,089
I-18 Total expensesPrior year $669,618$812,465
I-19 Revenue less expensesPrior year −$13,791−$491,140
Part VI · Governance 10 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members10
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $321,325 across 5 lines filed
VIII-1f All other contributions, gifts and grants$10,500
VIII-1h Total contributions, gifts and grants$10,500
VIII-3 Investment incomeExcluded from tax $276,706$276,706
VIII-7 Net gain or loss on sales of assetsExcluded from tax $34,119$34,119
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $310,825$321,325
Part IX · Statement of functional expenses $812,465 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $719,376$719,376
IX-11f Investment management feesManagement $93,089$93,089
IX-25 Total functional expensesPrograms $719,376 · Management $93,089 · Fundraising $0$812,465
Part X · Balance sheet $17,339,594 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,031,291$572,720
X-4 Accounts receivableStart of year $50,500$0
X-11 Publicly traded securitiesStart of year $14,411,015$16,063,056
X-15 Other assetsStart of year $100,319$703,818
X-16 Total assetsStart of year $15,593,125$17,339,594
X-17 Accounts payable and accrued expensesStart of year $15$10,000
X-25 Other liabilitiesStart of year $0$12,515
X-26 Total liabilitiesStart of year $15$22,515
X-27 Net assets without donor restrictionsStart of year $2,675,531$3,092,527
X-28 Net assets with donor restrictionsStart of year $12,917,579$14,224,552
X-32 Total net assets or fund balancesStart of year $15,593,110$17,317,079
X-33 Total liabilities and net assetsStart of year $15,593,125$17,339,594
Part XI · Reconciliation of net assets $17,317,079 net assets at year end
XI-1 Total revenue$321,325
XI-2 Total expenses$812,465
XI-3 Revenue less expenses−$491,140
XI-4 Net assets at start of year$15,593,110
XI-5 Net unrealized gains (losses) on investments$2,209,802
XI-9 Other changes in net assets$5,307
XI-10 Net assets at end of year$17,317,079

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

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