Civic Intelligence

The Portland Foundation

990 • Fiscal year 2023 • EIN 35-6028362

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 18, 2024

Organization ProfileWWW.PORTLANDFOUNDATION.ORG
107 S Meridian StreetPortland, IN 47371

(260) 726-4260

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

22nd percentile

0.03x

Higher debt load relative to assets than 22% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

60th percentile

0.37x

Higher debt load relative to revenue than 60% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

17th percentile

-14%

Higher net margin than 17% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

18th percentile

$78,867

Higher top officer pay than 18% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

53rd percentile

7.2%

Faster asset growth than 53% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

95th percentile

138%

Faster revenue growth than 95% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Up

$23,963,880

Up $1,599,694 (+7.2%) from 2022

Net Assets

Up

$23,361,863

Up $2,704,729 (+13%) from 2022

Liabilities

Down

$602,017

Down $1,105,035 (-65%) from 2022

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin17th percentile

Revenue

Up

$1,620,583

Up $940,071 (+138%) from 2022

Expenses

Up

$1,840,594

Up $884,888 (+93%) from 2022

Net Income

Up

-$220,011

Up $55,183 (+20%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $10,652,475Liabilities 2010: $804,116Net Assets 2010: $9,848,3592010Assets 2011: $10,076,491Liabilities 2011: $783,115Net Assets 2011: $9,293,3762011Assets 2012: $14,391,952Liabilities 2012: $863,725Net Assets 2012: $13,528,2272012Assets 2013: $17,930,278Liabilities 2013: $983,501Net Assets 2013: $16,946,7772013Assets 2014: $18,346,442Liabilities 2014: $1,006,675Net Assets 2014: $17,339,7672014Assets 2015: $17,305,333Liabilities 2015: $943,632Net Assets 2015: $16,361,7012015Assets 2016: $18,284,703Liabilities 2016: $991,041Net Assets 2016: $17,293,6622016Assets 2017: $22,752,074Liabilities 2017: $1,708,148Net Assets 2017: $21,043,9262017Assets 2018: $20,374,633Liabilities 2018: $1,512,321Net Assets 2018: $18,862,3122018Assets 2019: $23,496,010Liabilities 2019: $1,751,053Net Assets 2019: $21,744,9572019Assets 2020: $24,678,777Liabilities 2020: $1,873,541Net Assets 2020: $22,805,2362020Assets 2021: $27,639,720Liabilities 2021: $2,093,578Net Assets 2021: $25,546,1422021Assets 2022: $22,364,186Liabilities 2022: $1,707,052Net Assets 2022: $20,657,1342022Assets 2023: $23,963,880Liabilities 2023: $602,017Net Assets 2023: $23,361,8632023Assets 2024: $24,839,195Liabilities 2024: $598,744Net Assets 2024: $24,240,4512024

Highlighted filing

2023

Assets$23,963,880
Liabilities$602,017
Net Assets$23,361,863
Open 2023 Filing

Operations Trend

Revenue Growth95th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $375,6022010Expenses 2011: $535,9712011Expenses 2012: $489,8522012Revenue 2013: $2,101,265Expenses 2013: $556,218Net Income 2013: $1,545,0472013Revenue 2014: $603,142Expenses 2014: $754,242Net Income 2014: -$151,1002014Revenue 2015: $502,784Expenses 2015: $821,950Net Income 2015: -$319,1662015Revenue 2016: $1,001,865Expenses 2016: $744,045Net Income 2016: $257,8202016Revenue 2017: $3,140,329Expenses 2017: $912,895Net Income 2017: $2,227,4342017Revenue 2018: $608,216Expenses 2018: $1,040,768Net Income 2018: -$432,5522018Revenue 2019: $353,913Expenses 2019: $797,342Net Income 2019: -$443,4292019Revenue 2020: $515,356Expenses 2020: $1,010,226Net Income 2020: -$494,8702020Revenue 2021: $656,140Expenses 2021: $1,027,197Net Income 2021: -$371,0572021Revenue 2022: $680,512Expenses 2022: $955,706Net Income 2022: -$275,1942022Revenue 2023: $1,620,583Expenses 2023: $1,840,594Net Income 2023: -$220,0112023Revenue 2024: $4,926,811Expenses 2024: $4,884,598Net Income 2024: $42,2132024

Highlighted filing

2023

Revenue$1,620,583
Expenses$1,840,594
Net Income-$220,011
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 18, 2024
Return Version
2023v5.0
Gross Receipts
$4,593,904
Mission and Program Overview

Mission

Enhance the quality of life for the people of jay county, indiana, now and for generations to come, by building community endowment

Enhance the quality of life for the people of jay county, indiana, now and for generations to come, by building community endowment, effecting significant impact through grantmaking and providing leadership on key community issues.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$22,035,667$22,273,067▲ $237,400
Cash and Non-Interest-Bearing Accounts$569,632$1,266,705▲ $697,073
Land, Buildings, and Equipment, Net$365,216$297,786▼ $67,430
Total Assets$22,986,580$23,963,880▲ $977,300
Other Assets Total$16,065$126,322▲ $110,257
Liabilities
Other Liabilities$778,995$602,017▼ $176,978
Total Liabilities$778,995$602,017▼ $176,978
Net Assets / Fund Balance
Net Assets With Donor Restrictions$21,842,369$23,064,077▲ $1,221,708
Net Assets Without Donor Restrictions$365,216$297,786▼ $67,430
Total Net Assets Fund Balance$22,207,585$23,361,863▲ $1,154,278
Total Liabilities and Net Assets / Fund Balance$22,986,580$23,963,880▲ $977,300

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$74,119$277,266$351,385
Land$220,423-$220,423
Equipment$3,244$10,875$14,119

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$21,383,246$10,047▲ $2,155,243$2,272-
2022$26,761,738$65,775▼ $4,164,698-$21,383,246
2021$23,933,141$280,051▲ $3,604,360-$26,761,738
2020$22,904,880$191,364▲ $1,655,787-$23,933,141
2019$19,848,750$33,805▲ $3,738,069-$22,904,880
Compensation and Service Providers
Top Officer Pay18th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Douglas InmanExecutive DiFT$78,867$78,867

Board Members and Trustees

NameTitle
Jeremy GulleyPresident
Adam HomanDirector
Angela PaxsonDirector
Audrey MuhlenkampDirector
Joshua AtkinsonDirector
Mark ValentineDirector
Richard HuffmanDirector
Krista MuhlenkampSecreatary/t
Kaleb HemmelgarnVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$511,047
Program Service Revenue
$0
Investment Income
$1,109,536
Other Revenue
$0
Change in Net Assets
$-220,011

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,434,501
Revenue Not Reported on Financial Statements
$186,082
Revenue Not Reported on Form 990
$1,090,050
Other Revenue Adjustments
$77,851
Total Revenue per Audited Statements
$2,524,551
Total Revenue per Form 990
$1,620,583
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,516,992
Other Expenses$189,542
Salaries, Compensation, and Employee Benefits$134,060
Total Fundraising Expense$10,973
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,298,499--$1,298,499
Grants to Domestic Individuals$218,493--$218,493
Fees for Service Investment Mgmnt Fees$108,231--$108,231
Current Officers, Directors, Trustees, and Key Employees$35,604$35,604$7,659$78,867
Other Salaries and Wages$21,880$17,638-$39,518
Depreciation Depletion-$22,841-$22,841
Occupancy-$9,254-$9,254
Payroll Taxes$4,083$3,782$544$8,409
Other Employee Benefits$3,528$3,268$470$7,266
Office Expenses-$5,848-$5,848
Fees for Services Accounting-$4,982-$4,982
Insurance$2,946$1,313-$4,259
Advertising--$1,391$1,391
Conferences and Meetings-$832$146$978
Other Expenses$2,655$126$763$126
All Other Expenses-$14-$14
Total Functional Expenses$1,710,693$118,928$10,973$1,840,594

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,840,594
Expenses per Audited Statements$1,370,273
Total Expenses per Audited Statements$1,370,273
Expenses Not Reported on Financial Statements$470,321
Other Expense Adjustments$362,090
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Portland Foundation BuildingPortland, IN501c3Early Learning Bldg$583,427
Arts PlacePortland, IN501c3General Support$113,212
Asbury United Methodist ChurchPortland, IN501c3General Support$89,985
John Jay Center for LearningPortland, IN501c3General Support$80,761
Jay Community CenterPortland, IN501c3General Support$50,365
Jay County Historical SocietyPortland, IN501c3General Support$26,191
Jay County Fair AssociationPortland, IN501c3General Support$25,000
Pennville Community CenterPennville, INGovGeneral Support$24,185
BRIANNA'S HOPEPortland, IN501c3General Support$21,000
Purdue UniversityWest Lafayette, IN501c2General Support$20,000
West Jay Community CenterDunkirk, IN501c3General Support$15,500
Jay County Pee Wee FootballPortland, IN501c3General Support$15,000
Youth Service BureauPortland, IN-General Support$12,000
Glass Museum of DunkirkDunkirk, IN501c3General Support$11,176
Jay-randolph Developmental ServicesPortland, IN501c3General Support$10,790
United Way of Jay CountyPortland, IN501c3General Support$10,335
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Agency Liabilities$475,695
Right of Use Liabilities$126,322
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The tax return was reviewed and approved by the board of directors prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The foundation requires each member to complete and sign a conflict of interest disclosure statement annually.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors approves the salary for the executive director based on comparability, length of employment, etc.”

Form 990, Page 6, Part VI, Line 19

“The foundation makes its governing documents, policies, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Portland Foundation
EIN
35-6028362
Phone
2607264260
Address
107 S MERIDIAN STREET, PORTLAND, IN 47371

Signing Officer

Name
Douglas Inman
Title
Executive Director
Phone
2607264260
Signed
2024-10-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas Inman
Formed
1951
Legal Domicile
In
Voting Board Members
9
Independent Board Members
9
Employees
3

Preparer

Firm
Estep Burkey Simmons LLC
Address
PO BOX 42, MUNCIE, IN 47308-0042
Preparer
Thomas a Roberts
Phone
7652847554
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Enhance the quality of life for the people of jay county, indiana, now and for generations to come, by building community endowment, effecting significant impact through grantmaking and providing leadership on key community issues.”

Form 990, Part XI, Line 9

“Agency fund revenue -77,851 agency fund expenses 362,090 total 284,239”

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Scholarships and grants for the betterment of jay county, indiana.”

Schedule D, Page 3, Part X

“The foundation recognizes a tax benefit only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely- than-not test, no tax benefit will be recorded. The foundation has examined this issue and has determined there are no material contingent tax liabilities. The foundations federal and state exempt organization tax returns for 2020, 2021, and 2022 are subject to examination by the internal revenue service and the indiana department of revenue. Returns are generally subject to examination for three years after they are filed.”

Schedule D, Page 4, Part XI, Line 4B

“Agency fund revenue 77,851”

Schedule D, Page 4, Part XII, Line 4B

“Agency fund expenses 362,090”

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IRS990/MissionDesc0ENHANCE THE QUALITY OF LIFE FOR THE PEOPLE OF JAY COUNTY, INDIANA, NOW AND FOR GENERATIONS TO COME, BY BUILDING COMMUNITY ENDOWMENT, EFFECTING SIGNIFICANT IMPACT THROUGH GRANTMAKING AND PROVIDING LEADERSHIP ON KEY COMMUNITY ISSUES.
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IRS990ScheduleA/FactsAndCircumstancesTestTxt0THE PORTLAND FOUNDATION (FOUNDATION) IS OPERATED IN ALL ASPECTS AS A PUBLIC FOUNDATION. THE FOUNDATION HAS MAINTAINED AN ONGOING AND ACTIVE PROGRAM OF SOLICITATION THROUGHOUT THE COMMUNITY IT SERVES FOR FINANCIAL SUPPORT. THE FOUNDATION ATTEMPTS TO REACH EACH ONE OF THE HOUSEHOLDS IN THE COMMUNITY TO THE MAXIMUM EXTENT POSSIBLE. PLEASE CONSIDER THE FOLLOWING: - THE FOUNDATION SOLICITS DONORS FOR ESTATE GIFTS THROUGH LOCAL ATTORNEYS AND ESTATE PLANNERS. - THE FOUNDATION REGULARLY SENDS OTHER MAILINGS WITH THE PURPOSE OF RAISING FUNDS FROM THE FOUNDATION'S BROAD BASE OF SUPPORT. - THE FOUNDATION PUBLICIZES THE PUBLIC NATURE OF ITS ACTIVITIES IN THE LOCAL NEWSPAPER, INCLUDING THE AVAILABILITY OF SCHOLARSHIPS AND GRANTS. - THE FOUNDATION'S ANNUAL MEETING IS OPEN TO ALL, AND THE FINANCIAL RECORDS ARE OPEN TO INSPECTION BY ANY INTERESTED PARTY. - THE FOUNDATION PARTICIPATES IN LOCAL EXHIBITIONS AND ACTIVITIES TO RAISE AWARENESS OF THE FOUNDATION WITHIN THE COMMUNITY AND TO ATTRACT NEW DONORS. - THE FOUNDATION'S STAFF AND BOARD MEMBERS REGULARLY SPEAK TO PUBLIC ORGANIZATIONS TO RAISE AWARENESS AND ATTRACT NEW DONORS. - WHENEVER POSSIBLE, THE FOUNDATION SPONSORS WORKSHOPS AND EVENTS OF BENEFIT TO INDIVIDUALS, PROFESSIONALS, AND/OR THE NONPROFIT COMMUNITY. - THE ENDOWMENT INCOME GENERATED BY THE INDIVIDUAL FUNDS THAT COMPRISE THE FOUNDATION ORIGINATES FROM A WIDE RANGE OF ORIGINAL SOURCES. TO DATE, THE FOUNDATION HOLDS OVER 150 INDIVIDUAL FUNDS REPRESENTING NEW GIFTS, BEQUESTS, SUCCESSOR TRUSTEESHIPS, AND SOME PASS-THROUGH FUNDS. FUND DONORS ARE A DIVERSE GROUP, MIRRORING THE SOCIOECONOMIC PROFILE OF THE LARGER COMMUNITY. - THE FOUNDATION HAS MADE A DELIBERATE EFFORT TO MAKE FUND DONATIONS MORE ACCESSIBLE TO EVERYONE IN THE COMMUNITY THROUGH A PLAN THAT PERMITS THE DONOR TO BUILD THE PRINCIPAL AMOUNT OF A CHARITABLE FUND OVER TIME. - TYPICALLY, THE FOUNDATION'S GROWTH HAS BEEN A DIRECT RESULT OF MANY SMALLER GIFTS AND THE MATCHING FUNDS THAT THOSE GIFTS HAVE ATTRACTED FROM THE LILLY ENDOWMENT, INC. AND OTHER FUNDING SOURCES. IN ADDITION TO BROAD-BASED FINANCIAL SUPPORT, THE FOUNDATION IS EXTREMELY ACTIVE IN COMMUNITY OUTREACH. OUR PROGRAM OF GRANTMAKING IS DESIGNED TO TOUCH EVERY INDIVIDUAL LIVING IN OUR COMMUNITY TO AT LEAST SOME EXTENT. MAJOR FINANCIAL SUPPORT IS DIRECTED TO SCHOLARSHIP AWARDS, EDUCATIONAL PROGRAMS, HUMAN SERVICES, HISTORIC PRESERVATION, CULTURAL ENRICHMENT, YOUTH ACTIVITIES, PUBLIC HEALTH, AND COMMUNITY DEVELOPMENT. THE FOUNDATION'S BOARD OF DIRECTORS REPRESENTS A CROSS-SECTION OF OUR COMMUNITY. THE BOARD BRINGS TOGETHER INDIVIDUALS WITH DIFFERENT SOCIOECONOMIC PROFILES, INTERESTS, PROFESSIONAL/CAREER AFFILIATIONS, AND VIEWPOINTS. NONE OF THE BOARD MEMBERS IS RELTAED TO THE STAFF OR TO ANY OTHER MEMBER OF THE BOARD. TERM LIMITS ARE IMPOSED TO ENSURE THAT NO MEMBER BECOMES A FIXTURE AT THE FOUNDATION. TO FURTHER EXPAND THE FOUNDATION'S OUTREACH, NON-BOARD VOLUNTEERS FROM THE COMMUNITY ARE INVITED TO PARTICIPATE ON THE FOUNDATION'S COMMITTEES. IN CONCLUSION, THE SPIRIT OF THE FOUNDATION IS WHOLLY PUBLIC - IN THE SOLICATATION OF FUNDS, THE ELECTION OF BOARD REPRESENTATION, AND IN THE PROGRAMMING WHICH THE FOUNDATION CARRIES OUT WITHIN THE COMMUNITY. THE FOUNDATION NOT ONLY HEARS THE VOICES OF THE COMMUNITY AND ACTS UPON THE COMMUNITY'S NEEDS ACCORDINGLY BUT IT HAS BEEN PRO-ACTIVE BY CONVENING GROUPS THAT HAVE GROWN INTO VALUABLE ASSETS TO THE COMMUNITY. THE FOUNDATION IS IN NO WAY INACCESSIBLE, EXCLUSIVE, OR CONTROLLED BY A SMALL FACTION OF ITS CONSTITUENCY. THE FOUNDATION HAS BEEN BUILT BY THE COMMUNITY, AND IT EXISTS SOLELY TO SERVE THE COMMUNITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE PORTLAND FOUNDATION (FOUNDATION) IS OPERATED IN ALL ASPECTS AS A PUBLIC FOUNDATION. THE FOUNDATION HAS MAINTAINED AN ONGOING AND ACTIVE PROGRAM OF SOLICITATION THROUGHOUT THE COMMUNITY IT SERVES FOR FINANCIAL SUPPORT. THE FOUNDATION ATTEMPTS TO REACH EACH ONE OF THE HOUSEHOLDS IN THE COMMUNITY TO THE MAXIMUM EXTENT POSSIBLE. PLEASE CONSIDER THE FOLLOWING: - THE FOUNDATION SOLICITS DONORS FOR ESTATE GIFTS THROUGH LOCAL ATTORNEYS AND ESTATE PLANNERS. - THE FOUNDATION REGULARLY SENDS OTHER MAILINGS WITH THE PURPOSE OF RAISING FUNDS FROM THE FOUNDATION'S BROAD BASE OF SUPPORT. - THE FOUNDATION PUBLICIZES THE PUBLIC NATURE OF ITS ACTIVITIES IN THE LOCAL NEWSPAPER, INCLUDING THE AVAILABILITY OF SCHOLARSHIPS AND GRANTS. - THE FOUNDATION'S ANNUAL MEETING IS OPEN TO ALL, AND THE FINANCIAL RECORDS ARE OPEN TO INSPECTION BY ANY INTERESTED PARTY. - THE FOUNDATION PARTICIPATES IN LOCAL EXHIBITIONS AND ACTIVITIES TO RAISE AWARENESS OF THE FOUNDATION WITHIN THE COMMUNITY AND TO ATTRACT NEW DONORS. - THE FOUNDATION'S STAFF AND BOARD MEMBERS REGULARLY SPEAK TO PUBLIC ORGANIZATIONS TO RAISE AWARENESS AND ATTRACT NEW DONORS. - WHENEVER POSSIBLE, THE FOUNDATION SPONSORS WORKSHOPS AND EVENTS OF BENEFIT TO INDIVIDUALS, PROFESSIONALS, AND/OR THE NONPROFIT COMMUNITY. - THE ENDOWMENT INCOME GENERATED BY THE INDIVIDUAL FUNDS THAT COMPRISE THE FOUNDATION ORIGINATES FROM A WIDE RANGE OF ORIGINAL SOURCES. TO DATE, THE FOUNDATION HOLDS OVER 150 INDIVIDUAL FUNDS REPRESENTING NEW GIFTS, BEQUESTS, SUCCESSOR TRUSTEESHIPS, AND SOME PASS-THROUGH FUNDS. FUND DONORS ARE A DIVERSE GROUP, MIRRORING THE SOCIOECONOMIC PROFILE OF THE LARGER COMMUNITY. - THE FOUNDATION HAS MADE A DELIBERATE EFFORT TO MAKE FUND DONATIONS MORE ACCESSIBLE TO EVERYONE IN THE COMMUNITY THROUGH A PLAN THAT PERMITS THE DONOR TO BUILD THE PRINCIPAL AMOUNT OF A CHARITABLE FUND OVER TIME. - TYPICALLY, THE FOUNDATION'S GROWTH HAS BEEN A DIRECT RESULT OF MANY SMALLER GIFTS AND THE MATCHING FUNDS THAT THOSE GIFTS HAVE ATTRACTED FROM THE LILLY ENDOWMENT, INC. AND OTHER FUNDING SOURCES. IN ADDITION TO BROAD-BASED FINANCIAL SUPPORT, THE FOUNDATION IS EXTREMELY ACTIVE IN COMMUNITY OUTREACH. OUR PROGRAM OF GRANTMAKING IS DESIGNED TO TOUCH EVERY INDIVIDUAL LIVING IN OUR COMMUNITY TO AT LEAST SOME EXTENT. MAJOR FINANCIAL SUPPORT IS DIRECTED TO SCHOLARSHIP AWARDS, EDUCATIONAL PROGRAMS, HUMAN SERVICES, HISTORIC PRESERVATION, CULTURAL ENRICHMENT, YOUTH ACTIVITIES, PUBLIC HEALTH, AND COMMUNITY DEVELOPMENT. THE FOUNDATION'S BOARD OF DIRECTORS REPRESENTS A CROSS-SECTION OF OUR COMMUNITY. THE BOARD BRINGS TOGETHER INDIVIDUALS WITH DIFFERENT SOCIOECONOMIC PROFILES, INTERESTS, PROFESSIONAL/CAREER AFFILIATIONS, AND VIEWPOINTS. NONE OF THE BOARD MEMBERS IS RELTAED TO THE STAFF OR TO ANY OTHER MEMBER OF THE BOARD. TERM LIMITS ARE IMPOSED TO ENSURE THAT NO MEMBER BECOMES A FIXTURE AT THE FOUNDATION. TO FURTHER EXPAND THE FOUNDATION'S OUTREACH, NON-BOARD VOLUNTEERS FROM THE COMMUNITY ARE INVITED TO PARTICIPATE ON THE FOUNDATION'S COMMITTEES. IN CONCLUSION, THE SPIRIT OF THE FOUNDATION IS WHOLLY PUBLIC - IN THE SOLICATATION OF FUNDS, THE ELECTION OF BOARD REPRESENTATION, AND IN THE PROGRAMMING WHICH THE FOUNDATION CARRIES OUT WITHIN THE COMMUNITY. THE FOUNDATION NOT ONLY HEARS THE VOICES OF THE COMMUNITY AND ACTS UPON THE COMMUNITY'S NEEDS ACCORDINGLY BUT IT HAS BEEN PRO-ACTIVE BY CONVENING GROUPS THAT HAVE GROWN INTO VALUABLE ASSETS TO THE COMMUNITY. THE FOUNDATION IS IN NO WAY INACCESSIBLE, EXCLUSIVE, OR CONTROLLED BY A SMALL FACTION OF ITS CONSTITUENCY. THE FOUNDATION HAS BEEN BUILT BY THE COMMUNITY, AND IT EXISTS SOLELY TO SERVE THE COMMUNITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 17A
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIPS AND GRANTS FOR THE BETTERMENT OF JAY COUNTY, INDIANA.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION RECOGNIZES A TAX BENEFIT ONLY IF IT IS MORE LIKELY THAN NOT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED WILL BE THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE MORE-LIKELY- THAN-NOT TEST, NO TAX BENEFIT WILL BE RECORDED. THE FOUNDATION HAS EXAMINED THIS ISSUE AND HAS DETERMINED THERE ARE NO MATERIAL CONTINGENT TAX LIABILITIES. THE FOUNDATIONS FEDERAL AND STATE EXEMPT ORGANIZATION TAX RETURNS FOR 2020, 2021, AND 2022 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND THE INDIANA DEPARTMENT OF REVENUE. RETURNS ARE GENERALLY SUBJECT TO EXAMINATION FOR THREE YEARS AFTER THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2AGENCY FUND REVENUE 77,851
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3AGENCY FUND EXPENSES 362,090
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalRevenuePerForm990Amt01620583
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02524551

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,963,880
Liabilities
$602,017
Net assets
$23,361,863
Revenue
$1,620,583
Expenses
$1,840,594
Net income
-$220,011
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.8$0.60$24.2$4.93$4.88$0.04
2023Detailed filing. Detailed filing data is available for this year.$24.0$0.60$23.4$1.62$1.84$0.22
2022Detailed filing. Detailed filing data is available for this year.$22.4$1.71$20.7$0.68$0.96$0.28
2021Detailed filing. Detailed filing data is available for this year.$27.6$2.09$25.5$0.66$1.03$0.37
2020Detailed filing. Detailed filing data is available for this year.$24.7$1.87$22.8$0.52$1.01$0.49
2019Detailed filing. Detailed filing data is available for this year.$23.5$1.75$21.7$0.35$0.80$0.44
2018Detailed filing. Detailed filing data is available for this year.$20.4$1.51$18.9$0.61$1.04$0.43
2017Detailed filing. Detailed filing data is available for this year.$22.8$1.71$21.0$3.14$0.91$2.23
2016Detailed filing. Detailed filing data is available for this year.$18.3$0.99$17.3$1.00$0.74$0.26
2015Detailed filing. Detailed filing data is available for this year.$17.3$0.94$16.4$0.50$0.82$0.32
2014Detailed filing. Detailed filing data is available for this year.$18.3$1.01$17.3$0.60$0.75$0.15
2013Detailed filing. Detailed filing data is available for this year.$17.9$0.98$16.9$2.10$0.56$1.55
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.4$0.86$13.5$0.49
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.1$0.78$9.29$0.54
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$0.80$9.85$0.38