In His Steps Foundation FY2022 filing

Tax-deductible

Independence, OH501(c)(3)Since 1997Foundations & GrantmakersEIN 31-1512682

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To encourage and teach christlike stewardship which becomes the basis for personal giving and estate planning; to also provide a prudently managed repository for capital, invested for the purpose of distribution to ministries proclaiming the gospel of jesus christ and for other charitable purposes.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
$132K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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 $1.2M a year · 10% 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
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$132K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $75K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$5.4M
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$16.8M
+9% vs prior year
Spent
$9.9M
To programs
99%
Net assets
$46.4M
By yearFY2020–FY2024
Revenue
$16.8M
FY2022▲ +9%
Revenue by fiscal year
FY2020$9.1M
FY2021$15.3M
FY2022$16.8M
FY2023$8.3M
FY2024$7.9M
Expenses
$9.9M
FY2022▲ +37%
Expenses by fiscal year
FY2020$6.0M
FY2021$7.2M
FY2022$9.9M
FY2023$19.8M
FY2024$8.5M
Net assets
$46.4M
FY2022▲ +10%
Net assets by fiscal year
FY2020$37.3M
FY2021$42.0M
FY2022$46.4M
FY2023$38.3M
FY2024$40.1M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2000.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $9.8M Management & general 1% · $68K Fundraising 0% · $29K

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; $132K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$131,625Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A

Benjamin Lee’s $140K as President is at the 59th percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Benjamin Lee$140,000$134,384$131,625$122,784$117,015
Robert S Cathcart Retired————$9,500

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See In His Steps Foundation 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 15aYes

Programs and updates

Teaches Christian stewardship, manages charitable funds, and provides grants to support ministries and help families and churches establish endowments for future stability.

Provided by the organization

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1 program · $9.8M · in their own filed words · FY2022
01

Help people discover gods plan of stewardship for their wealth and implement that plan through utilizing all the benefits of a low-cost public foundation dedicated to helping other ministries. Help families start and use a family foundation fund for christian philanthropy.

$9.8Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$75K
Grants paid · 626 grants · $30.2M · 2020–2024
Global Media OutreachTX · FY2024$600,000
Cornerstone of Hope INCOH · FY2024$503,210
Mission IncreaseOR · FY2024$459,500
Harvest Ridge Assembly of GodOH · FY2024$400,000
CruFL · FY2024$306,000
Youth for Christ USA INCOH · FY2024$279,220
Parkside ChurchOH · FY2024$111,000
Centerpoint MinistriesCA · FY2024$100,000
Operation Exodus USANY · FY2024$90,000
Samaritans PurseNC · FY2024$89,654
Crossroads Farm INCMI · FY2024$86,000
Honor Service Dogs INCNC · FY2024$70,000
True Freedom INCOH · FY2024$65,500
See all 626 grants →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$16.8M
Ln 12
Gifts and grantsLn 1h$16.2M
Fees for servicesLn 2g$371K
Investment incomeLn 3$187K
Money outPt IX
$9.9M
Ln 25
Programscol B$9.8M
Managementcol C$68K
Fundraisingcol D$29K
Owns and owesPt X
$46.4M
net assets · Ln 32
Cash and savingsLn 1–2$762K
Total assetsLn 16$51.8M
LiabilitiesLn 26$5.4M
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$16.2M
Noncash giftsLn 1g$8.3M
Fees for servicesLn 2g$371K
Investment incomeLn 3$187K
Other incomeLn 4–11$40K
Gains on assetsLn 7−$816K
Total revenueLn 12$16.8M
Assets in detailPt X, end of year
CashLn 1$762K
Cash and savings togetherLn 1–2$762K
InvestmentsLn 11–13$48.4M
Land, buildings, equipmentLn 10c$2K
Other assetsLn 15$2.7M
Total assetsLn 16$51.8M
LiabilitiesLn 26$5.4M
Net assetsLn 32$46.4M
OperationsPt I, VI
EmployeesI 52
VolunteersI 66
Fiscal year endsHeaderDecember
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 FY22End FY22
Cash and savingsLn 1–2$2.4M$762K
InvestmentsLn 11–13$45.2M$48.4M
Land, buildings, equipmentLn 10c$1K$2K
Total assetsLn 16$50.1M$51.8M
LiabilitiesLn 26$8.0M$5.4M
Net assetsLn 32$42.0M$46.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$8.7M$8.7M
Grants and assistance to foreign recipientsLn 3$150K$150K
Pay of current officers, directors and key staffLn 5$158K$115K$28K$14K
Other salaries and wagesLn 7$80K$58K$14K$7K
Pension plan contributionsLn 8$2K$2K$440$220
Other employee benefitsLn 9$5K$3K$835$418
Payroll taxesLn 10$46K$34K$8K$4K
Accounting feesLn 11c$13K$1K$12K$127
Investment management feesLn 11f$663K$663K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$6K$6K$246$123
Information technologyLn 14$27K$26K$324$270
TravelLn 17$12K$9K$2K$1K
Depreciation, depletion and amortizationLn 22$631$473$95$63
InsuranceLn 23$2K$1K$276$184
Other expenses (24a–d)Ln 24$40K$38K$1K$648
All other expensesLn 24e$8K$7K$194$65
Total functional expensesLn 25$9.9M$9.8M$68K$29K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $7.9M$8.5M−$640K$40.1M 990 PDF
FY2023 $8.3M$19.8M−$11.5M$38.3M 990 PDF
FY2022 Viewing $16.8M$9.9M$6.9M$46.4M 990 PDF
FY2021 $15.3M$7.2M$8.2M$42.0M 990 PDF
FY2020 $9.1M$6.0M$3.1M$37.3M 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $16,754,413 across 9 lines filed
VIII-1f All other contributions, gifts and grants$16,156,332
VIII-1g Noncash contributions (included above)$8,313,920
VIII-1h Total contributions, gifts and grants$16,156,332
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $370,622$370,622
VIII-3 Investment incomeExcluded from tax $1,002,695$1,002,695
VIII-5 RoyaltiesExcluded from tax $617$617
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$815,566−$815,566
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $39,713$39,713
VIII-12 Total revenueRelated to mission $370,622 · Excluded from tax $227,459$16,754,413
Part IX · Statement of functional expenses $9,868,047 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $8,651,604$8,651,604
IX-3 Grants and assistance to foreign recipientsPrograms $150,000$150,000
IX-5 Pay of current officers, directors and key staffPrograms $115,134 · Management $28,386 · Fundraising $14,193$157,713
IX-7 Other salaries and wagesPrograms $58,375 · Management $14,394 · Fundraising $7,197$79,966
IX-8 Pension plan contributionsPrograms $1,786 · Management $440 · Fundraising $220$2,446
IX-9 Other employee benefitsPrograms $3,386 · Management $835 · Fundraising $418$4,639
IX-10 Payroll taxesPrograms $33,556 · Management $8,274 · Fundraising $4,137$45,967
IX-11c Accounting feesPrograms $1,028 · Management $12,027 · Fundraising $127$13,182
IX-11f Investment management feesPrograms $663,176$663,176
IX-12 Advertising and promotionPrograms $4,535$4,535
IX-13 Office expensesPrograms $5,772 · Management $246 · Fundraising $123$6,141
IX-14 Information technologyPrograms $26,368 · Management $324 · Fundraising $270$26,962
IX-17 TravelPrograms $8,983 · Management $1,797 · Fundraising $1,198$11,978
IX-22 Depreciation, depletion and amortizationPrograms $473 · Management $95 · Fundraising $63$631
IX-23 InsurancePrograms $1,381 · Management $276 · Fundraising $184$1,841
IX-24 Other expenses (24a–d)Programs $37,818 · Management $1,111 · Fundraising $648$39,577
IX-24e All other expensesPrograms $7,430 · Management $194 · Fundraising $65$7,689
IX-25 Total functional expensesPrograms $9,770,805 · Management $68,399 · Fundraising $28,843$9,868,047
Part X · Balance sheet $51,823,951 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $2,364,952$762,133
X-4 Accounts receivable$32,241
X-9 Prepaid expenses and deferred charges$425
X-10c Land, buildings and equipment, netStart of year $1,103$1,734
X-11 Publicly traded securitiesStart of year $45,231,344$48,364,829
X-15 Other assetsStart of year $2,462,983$2,662,589
X-16 Total assetsStart of year $50,060,382$51,823,951
X-25 Other liabilitiesStart of year $7,994,780$5,400,721
X-26 Total liabilitiesStart of year $8,047,360$5,400,721
X-27 Net assets without donor restrictionsStart of year $42,013,022$46,423,230
X-32 Total net assets or fund balancesStart of year $42,013,022$46,423,230
X-33 Total liabilities and net assetsStart of year $50,060,382$51,823,951
Part XI · Reconciliation of net assets $46,423,230 net assets at year end
XI-1 Total revenue$16,754,413
XI-2 Total expenses$9,868,047
XI-3 Revenue less expenses$6,886,366
XI-4 Net assets at start of year$42,013,022
XI-5 Net unrealized gains (losses) on investments−$5,045,645
XI-8 Prior period adjustments$2,569,487
XI-10 Net assets at end of year$46,423,230

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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