Staurolite Resources: FY2020 Nonprofit Profile & Form 990 (EIN 46-4157012)

Revenue by fiscal year
FY2020	$168K
FY2021	$3.4M

Expenses by fiscal year
FY2020	$567K
FY2021	$831K

Net assets by fiscal year
FY2020	−$2.6M
FY2021	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing we have: FY2021.

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

Where the money goes

What each dollar paid for.

100%

Management & general 100% · $567K

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation

Steve Hansen

Board Member

$0Pt VII · Sec A

Don Daniel

Board Member

$0Pt VII · Sec A

Susan Smith

Board Member

$0Pt VII · Sec A

See Staurolite Resources executive salaries →

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 financial and operational support to Presbyterian Medical Services.

Questions for Staurolite Resources

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1 program · in their own filed words · FY2020

01

Staurolite Resources serves as the required QALICB entity necessary for Presbyterian Medical Services to participate in the new market tax credit programs.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 46-4157012) · Dispute this line

Pt IX · Ln 25 · col B

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$168K

Ln 12

Other incomeLn 4–11$168K

Money outPt IX

$567K

Ln 25

Managementcol C$567K

Owns and owesPt X

−$2.6M

net assets · Ln 32

Cash and savingsLn 1–2$40K

Total assetsLn 16$8.0M

LiabilitiesLn 26$10.6M

PeoplePt VI, VII

3

listed · VII A

PaidVII A0

Voting boardVI 1a3

IndependentVI 1b1

2In more detail

Revenue in detailPt VIII

Other incomeLn 4–11$168K

Total revenueLn 12$168K

Assets in detailPt X, end of year

CashLn 1$40K

Cash and savings togetherLn 1–2$40K

Land, buildings, equipmentLn 10c$8.0M

Total assetsLn 16$8.0M

LiabilitiesLn 26$10.6M

Net assetsLn 32−$2.6M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

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

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$40K	$40K
Land, buildings, equipmentLn 10c	$8.3M	$8.0M
Total assetsLn 16	$8.4M	$8.0M
LiabilitiesLn 26	$10.5M	$10.6M
Net assetsLn 32	−$2.1M	−$2.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
InterestLn 20	$157K		$157K
Depreciation, depletion and amortizationLn 22	$410K		$410K
Total functional expensesLn 25	$567K	$0	$567K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2021 LatestFiled with the IRS Nov 8, 2022	$3.4M	$831K	$2.6M	$0	990 PDF
FY2020 ViewingFiled with the IRS Nov 12, 2021	$168K	$567K	−$399K	−$2.6M	990 PDF

Schedules filed Part IV

I · Grants O · Explanations

See the full FY2020 990

Part I · Summary $167,552 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 $0$0

I-11 Other revenuePrior year $169,237$167,552

I-12 Total revenuePrior year $169,237$167,552

I-13 Grants and similar amounts paidPrior year $0$0

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 $566,854$566,854

I-18 Total expensesPrior year $566,854$566,854

I-19 Revenue less expensesPrior year −$397,617−$399,302

Part VI · Governance 1 of 3 board members independent, 1 to look at

VI-1a Voting members of the governing body3

VI-1b Independent voting members1

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 $167,552 across 2 lines filed

VIII-6 Net rental income or lossExcluded from tax $167,552$167,552

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $167,552$167,552

Part IX · Statement of functional expenses $566,854 across 2 lines filed

IX-20 InterestManagement $156,658$156,658

IX-22 Depreciation, depletion and amortizationManagement $410,196$410,196

IX-25 Total functional expensesPrograms $0 · Management $566,854 · Fundraising $0$566,854

Part X · Balance sheet $8,028,266 assets, 10 lines filed

X-1 Cash, non-interest-bearingStart of year $40,165$40,164

X-10c Land, buildings and equipment, netStart of year $8,334,158$7,988,102

X-16 Total assetsStart of year $8,374,323$8,028,266

X-17 Accounts payable and accrued expensesStart of year $39,164$39,164

X-23 Secured mortgages and notes payableStart of year $2,994,801$2,994,800

X-25 Other liabilitiesStart of year $7,468,384$7,573,710

X-26 Total liabilitiesStart of year $10,502,349$10,607,674

X-27 Net assets without donor restrictionsStart of year −$2,128,026−$2,579,408

X-32 Total net assets or fund balancesStart of year −$2,128,026−$2,579,408

X-33 Total liabilities and net assetsStart of year $8,374,323$8,028,266

Part XI · Reconciliation of net assets −$2,579,408 net assets at year end

XI-1 Total revenue$167,552

XI-2 Total expenses$566,854

XI-3 Revenue less expenses−$399,302

XI-4 Net assets at start of year−$2,128,026

XI-8 Prior period adjustments−$52,080

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year−$2,579,408

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

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Staurolite Resources FY2020 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Staurolite Resources

By the numbers

Filing history

Schedules filed Part IV

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