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The Sepm Foundation INC

Tax-deductible

Claremore, OK501(c)(3)Foundations & GrantmakersEIN 73-1195514Revenue $109K in FY2024

On file with the IRSsepm.org500 S Lynn Riggs Blvd 329, 74017-7814 · Claremore, OKTax-exempt since Feb 1984Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the Sepm Foundation is to develop and provide funds to support the goals and programs of the society for sedimentary geology (Sepm). These funds are distributed according to the needs of the society and in a manner consistent with the desire of the donors.

501(c)(3) charity; gifts are tax-deductible.
55¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
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 6
filings with a surplus
Average surplus $139K a year · 65% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
55%
of spending
Worth a look: 55% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $113K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$109K
+36% vs prior year
Spent
$57K
To programs
55%
Net assets
$2.4M
By yearFY2019–FY2024
Revenue
$109K
FY2024▲ +36%
Tap a bar for its year
Revenue by fiscal year
FY2019$212K
FY2020$306K
FY2021$468K
FY2022$99K
FY2023$80K
FY2024$109K
Expenses
$57K
FY2024▼ -40%
Tap a bar for its year
Expenses by fiscal year
FY2019$75K
FY2020$83K
FY2021$72K
FY2022$60K
FY2023$94K
FY2024$57K
Net assets
$2.4M
FY2024▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2019$1.5M
FY2020$1.8M
FY2021$2.2M
FY2022$1.9M
FY2023$2.1M
FY2024$2.4M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1984.

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

Where the money goes

55 cents of each dollar spent went to programs.

Program services 55% · $31K Management & general 45% · $26K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Richard Fluegeman
First Vice President
$0Pt VII · Sec A
Don McNeill
Treasurer
$0Pt VII · Sec A
Lesli Wood
Secretary
$0Pt VII · Sec A
See The Sepm 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds sedimentary geology research and programs for the Society for Sedimentary Geology.

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Provided by the organization

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1 program · $31K · in their own filed words · FY2024
01

To promote the science of stratigraphy through the encouragement of scientific research and education.

$31Kprogram 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 · FY2021
Sepm (society for Sedimentary Geology)FY2021$113K
Total grants receivedfrom 1 funder$113K
Grants paid · 6 grants · $198K · 2019–2024
Unitemized GrantFY2024$20,756
Unitemized GrantFY2023$50,665
Unitemized GrantFY2022$29,748
Unitemized GrantFY2021$26,055
Unitemized GrantFY2020$40,000
Unitemized GrantFY2019$30,300

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$109K
Ln 12
Gifts and grantsLn 1h$57K
Investment incomeLn 3$52K
Money outPt IX
$57K
Ln 25
Programscol B$31K
Managementcol C$26K
Owns and owesPt X
$2.4M
net assets · Ln 32
Cash and savingsLn 1–2$5K
Total assetsLn 16$2.4M
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$57K
Investment incomeLn 3$52K
Total revenueLn 12$109K
Assets in detailPt X, end of year
SavingsLn 2$5K
Cash and savings togetherLn 1–2$5K
InvestmentsLn 11–13$2.3M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$12K
Total assetsLn 16$2.4M
LiabilitiesLn 26$0
Net assetsLn 32$2.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
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 FY24End FY24
Cash and savingsLn 1–2$5K$5K
InvestmentsLn 11–13$2.1M$2.3M
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$2.1M$2.4M
LiabilitiesLn 26$0$0
Net assetsLn 32$2.1M$2.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$21K$21K
Grants and assistance to foreign recipientsLn 3$11K$11K
Management feesLn 11a$10K$10K
Accounting feesLn 11c$14K$14K
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$57K$31K$26K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $109K$57K$51K$2.4M 990 PDF
FY2023 $80K$94K−$15K$2.1M 990 PDF
FY2022 $99K$60K$39K$1.9M 990 PDF
FY2021 $468K$72K$396K$2.2M 990 PDF
FY2020 $306K$83K$223K$1.8M 990 PDF
FY2019 $212K$75K$137K$1.5M 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 FY2024 990 (6 parts)
Part I · Summary $108,625 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $30,245$57,122
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $49,556$51,503
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $79,801$108,625
I-13 Grants and similar amounts paidPrior year $69,884$31,300
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 $24,605$25,851
I-18 Total expensesPrior year $94,489$57,151
I-19 Revenue less expensesPrior year −$14,688$51,474
Part VI · Governance 4 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $108,625 across 4 lines filed
VIII-1f All other contributions, gifts and grants$57,122
VIII-1h Total contributions, gifts and grants$57,122
VIII-3 Investment incomeExcluded from tax $51,503$51,503
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $51,503$108,625
Part IX · Statement of functional expenses $57,151 across 5 lines filed
IX-2 Grants to domestic individualsPrograms $20,756$20,756
IX-3 Grants and assistance to foreign recipientsPrograms $10,544$10,544
IX-11a Management feesManagement $10,000$10,000
IX-11c Accounting feesManagement $14,400$14,400
IX-24 Other expenses (24a–d)Management $1,451$1,451
IX-25 Total functional expensesPrograms $31,300 · Management $25,851 · Fundraising $0$57,151
Part X · Balance sheet $2,360,645 assets, 10 lines filed
X-2 Savings and temporary cash investmentsStart of year $4,880$5,008
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $2,087,562$2,344,069
X-15 Other assetsStart of year $11,594$11,568
X-16 Total assetsStart of year $2,104,036$2,360,645
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $177,550$180,084
X-28 Net assets with donor restrictionsStart of year $1,926,486$2,180,561
X-32 Total net assets or fund balancesStart of year $2,104,036$2,360,645
X-33 Total liabilities and net assetsStart of year $2,104,036$2,360,645
Part XI · Reconciliation of net assets $2,360,645 net assets at year end
XI-1 Total revenue$108,625
XI-2 Total expenses$57,151
XI-3 Revenue less expenses$51,474
XI-4 Net assets at start of year$2,104,036
XI-5 Net unrealized gains (losses) on investments$205,135
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,360,645

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

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