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Faithfirst Foundation FY2020 filing

Tax-deductible

Jupiter, FL501(c)(3)EducationEIN 35-2535953

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Offer grants and scholarships to grade schools, high schools and college undergraduates; and guidance and pastoral counseling to those individuals referred by various schools and agencies.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
4 of 5
filings with a surplus
Average surplus $64K a year · 28% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
19 mo
of spending, in cash
Looks good: 18.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$810K
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$433K
Spent
$117K
To programs
85%
Net assets
$1.2M
By yearFY2020–FY2024
Revenue
$433K
FY2020
Revenue by fiscal year
FY2020$433K
FY2021$315K
FY2022$212K
FY2023$149K
FY2024$36K
Expenses
$117K
FY2020
Expenses by fiscal year
FY2020$117K
FY2021$292K
FY2022$152K
FY2023$142K
FY2024$120K
Net assets
$1.2M
FY2020
Net assets by fiscal year
FY2020$1.2M
FY2021$1.2M
FY2022$1.3M
FY2023$1.1M
FY2024$1.0M

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2016.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $100K Management & general 15% · $17K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Bob Bauer
Board Member
$0Pt VII · Sec A
Dan Dowsett
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Sean Rosenberg
Chairman/Sec
$0Pt VII · Sec A
Dave Swanson
Board Member
$0Pt VII · Sec A
See Faithfirst 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 15aNo

Programs and updates

Provides grants, scholarships, and counseling to students referred by schools and agencies.

Provided by the organization

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2 program services account for $100K of program spending, described in the organization's own filed words · FY2020.
01

Provide affordable housing opportunities to educators, counselors, students, and elderly retired pastoral ministers.

$63Kprogram expense
02

Offer grants and scholarships to grade schools, high schools and college undergraduates; and guidance and pastoral counseling to those individuals referred by various schools and agencies.

$36Kprogram expense

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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 · 3 grants · $50K · 2020–2022
Benjamin J Werner Mem GrantFY2022$16,667
Benjamin J Werner Mem GrantFY2021$16,667
Benjamin J Werner Mem GrantFY2020$16,667

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$433K
Ln 12
Gifts and grantsLn 1h$374K
Fees for servicesLn 2g$58K
Investment incomeLn 3$1K
Money outPt IX
$117K
Ln 25
Programscol B$100K
Managementcol C$17K
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$182K
Total assetsLn 16$2.0M
LiabilitiesLn 26$810K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$374K
Government grantsLn 1e$4K
Fees for servicesLn 2g$58K
Investment incomeLn 3$1K
Total revenueLn 12$433K
Assets in detailPt X, end of year
CashLn 1$3K
SavingsLn 2$179K
Cash and savings togetherLn 1–2$182K
InvestmentsLn 11–13$151K
Land, buildings, equipmentLn 10c$940K
Other assetsLn 15$727K
Total assetsLn 16$2.0M
LiabilitiesLn 26$810K
Net assetsLn 32$1.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$123K$182K
InvestmentsLn 11–13$20K$151K
Land, buildings, equipmentLn 10c$881K$940K
Total assetsLn 16$1.6M$2.0M
LiabilitiesLn 26$703K$810K
Net assetsLn 32$874K$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$17K$17K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$4K$4K
Office expensesLn 13$9K$1K$8K
OccupancyLn 16$27K$27K$149
TravelLn 17$3K$3K
InterestLn 20$17K$17K
Depreciation, depletion and amortizationLn 22$26K$26K
InsuranceLn 23$219$219
Other expenses (24a–d)Ln 24$11K$11K
All other expensesLn 24e$1K$1K
Total functional expensesLn 25$117K$100K$17K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $36K$120K−$84K$1.0M 990 PDF
FY2023 $149K$142K$7K$1.1M 990 PDF
FY2022 $212K$152K$60K$1.3M 990 PDF
FY2021 $315K$292K$22K$1.2M 990 PDF
FY2020 Viewing $433K$117K$316K$1.2M 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 FY2020 990 (4 parts)
Part VIII · Statement of revenue $432,718 across 7 lines filed
VIII-1e Government grants$3,785
VIII-1f All other contributions, gifts and grants$370,403
VIII-1h Total contributions, gifts and grants$374,188
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $57,512$57,512
VIII-3 Investment incomeRelated to mission $1,027$1,027
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$9−$9
VIII-12 Total revenueRelated to mission $58,530$432,718
Part IX · Statement of functional expenses $116,715 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $16,667$16,667
IX-11c Accounting feesManagement $1,730$1,730
IX-11g Other fees for servicesManagement $3,501$3,501
IX-13 Office expensesPrograms $1,255 · Management $8,114$9,369
IX-16 OccupancyPrograms $26,612 · Management $149$26,761
IX-17 TravelManagement $3,287$3,287
IX-20 InterestPrograms $16,683$16,683
IX-22 Depreciation, depletion and amortizationPrograms $26,139$26,139
IX-23 InsuranceManagement $219$219
IX-24 Other expenses (24a–d)Programs $11,282$11,282
IX-24e All other expensesPrograms $1,077$1,077
IX-25 Total functional expensesPrograms $99,715 · Management $17,000 · Fundraising $0$116,715
Part X · Balance sheet $2,000,735 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $5,865$3,286
X-2 Savings and temporary cash investmentsStart of year $117,353$178,795
X-10c Land, buildings and equipment, netStart of year $880,586$940,495
X-11 Publicly traded securitiesStart of year $20,474$150,799
X-15 Other assetsStart of year $553,312$727,360
X-16 Total assetsStart of year $1,577,590$2,000,735
X-17 Accounts payable and accrued expensesStart of year $34,747$3,547
X-19 Deferred revenueStart of year $228,200$314,248
X-24 Unsecured notes and loans payableStart of year $100,000$100,000
X-25 Other liabilitiesStart of year $340,340$392,634
X-26 Total liabilitiesStart of year $703,287$810,429
X-27 Net assets without donor restrictionsStart of year $874,303$1,190,306
X-32 Total net assets or fund balancesStart of year $874,303$1,190,306
X-33 Total liabilities and net assetsStart of year $1,577,590$2,000,735
Part XI · Reconciliation of net assets $1,190,306 net assets at year end
XI-1 Total revenue$432,718
XI-2 Total expenses$116,715
XI-3 Revenue less expenses$316,003
XI-4 Net assets at start of year$874,303
XI-10 Net assets at end of year$1,190,306

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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