Serra Foundation INC FY2022 filing

Tax-deductible

Weirton, WV501(c)(3)EIN 55-0696463Revenue $499K in FY2022

On file with the IRS2525 Pennsylvania Ave, 26062-3634 · Weirton, WVTax-exempt since Oct 1990Supporting organization — 509(a)(3)

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Purpose is to help those in need of educational funds and DO other charitable works

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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
5 of 5
filings with a surplus
Average surplus $681K a year · 86% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
471 mo
of spending, in cash
Looks good: 470.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$622K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$499K
+5% vs prior year
Spent
$107K
To programs
0%
Net assets
$14.5M
By yearFY2020–FY2024
Revenue
$499K
FY2022▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$584K
FY2021$473K
FY2022$499K
FY2023$1.3M
FY2024$1.1M
Expenses
$107K
FY2022▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$76K
FY2021$101K
FY2022$107K
FY2023$87K
FY2024$165K
Net assets
$14.5M
FY2022▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$13.8M
FY2021$14.1M
FY2022$14.5M
FY2023$15.7M
FY2024$16.7M

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

Form 990 (PDF) Claim
You’re viewing the FY2022 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 Oct 1990.

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

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice Pres / Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Serra Foundation INC 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides educational funds and performs other charitable works for those in need.

Questions for Serra Foundation INC

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Provided by the organization

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1 program · in their own filed words · FY2022
01

Serra foundation provided rental assistance to elderly individuals, high school and college scholarships to students and made charitable contributions to various charities

Pt IX · col B

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 · 2 grants · $25K · 2020–2021
Unitemized GrantFY2021$12,150
Unitemized GrantFY2020$12,600

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$499K
Ln 12
Investment incomeLn 3$498K
Gifts and grantsLn 1h$600
Other incomeLn 4–11$23
Money outPt IX
$107K
Ln 25
Owns and owesPt X
$14.5M
net assets · Ln 32
Cash and savingsLn 1–2$4.2M
Total assetsLn 16$15.2M
LiabilitiesLn 26$622K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$600
Investment incomeLn 3$498K
Other incomeLn 4–11$23
Total revenueLn 12$499K
Assets in detailPt X, end of year
CashLn 1$1.8M
SavingsLn 2$2.4M
Cash and savings togetherLn 1–2$4.2M
InvestmentsLn 11–13$9.4M
Total assetsLn 16$15.2M
LiabilitiesLn 26$622K
Net assetsLn 32$14.5M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$4.0M$4.2M
InvestmentsLn 11–13$9.1M$9.4M
Total assetsLn 16$14.8M$15.2M
LiabilitiesLn 26$673K$622K
Net assetsLn 32$14.1M$14.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$22K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$5K
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$620
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$667
Other expenses (24a–d)Ln 24$79K
All other expensesLn 24e$457
Total functional expensesLn 25$107K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$165K$964K$16.7M 990 PDF
FY2023 $1.3M$87K$1.2M$15.7M 990 PDF
FY2022 Viewing $499K$107K$391K$14.5M 990 PDF
FY2021 $473K$101K$372K$14.1M 990 PDF
FY2020 $584K$76K$508K$13.8M 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 (6 parts)
Part I · Summary $498,750 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,290$600
I-9 Program service revenue$0
I-10 Investment incomePrior year $471,559$498,127
I-11 Other revenuePrior year $38$23
I-12 Total revenuePrior year $472,887$498,750
I-13 Grants and similar amounts paidPrior year $12,150$21,942
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $88,576$85,495
I-18 Total expensesPrior year $100,726$107,437
I-19 Revenue less expensesPrior year $372,161$391,313
Part VI · Governance 7 of 7 board members independent, 5 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $498,750 across 5 lines filed
VIII-1f All other contributions, gifts and grants$600
VIII-1h Total contributions, gifts and grants$600
VIII-3 Investment income$498,127
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)$23
VIII-12 Total revenue$498,750
Part IX · Statement of functional expenses $107,437 across 30 lines filed
IX-1 Grants to domestic organizations$21,942
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$4,960
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$620
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$667
IX-24 Other expenses (24a–d)$78,791
IX-24e All other expenses$457
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$107,437
Part X · Balance sheet $15,159,405 assets, 8 lines filed
Asset lines not itemized here account for $1,550,004; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,585,921$1,764,842
X-2 Savings and temporary cash investmentsStart of year $2,420,164$2,448,677
X-11 Publicly traded securitiesStart of year $9,057,849$9,395,882
X-16 Total assetsStart of year $14,819,052$15,159,405
X-25 Other liabilitiesStart of year $672,639$621,679
X-26 Total liabilitiesStart of year $672,639$621,679
X-32 Total net assets or fund balancesStart of year $14,146,413$14,537,726
X-33 Total liabilities and net assetsStart of year $14,819,052$15,159,405
Part XI · Reconciliation of net assets $14,537,726 net assets at year end
XI-1 Total revenue$498,750
XI-2 Total expenses$107,437
XI-3 Revenue less expenses$391,313
XI-4 Net assets at start of year$14,146,413
XI-10 Net assets at end of year$14,537,726

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

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