2024-11-08T15:47:50-06:00 2023-12-31 850383230 BURT & COMPANY CPAS LLC 4101 INDIAN SCHOOL RD NE SUITE 440 ALBUQUERQUE NM 87110 990 2023-01-01 850249432 ENDOWMENT FOUNDATION OF FIRST PRESBYTERIAN CHURCH ENDO 5057642900 215 LOCUST NE ALBUQUERQUE NM 87102 ROBERT BOWERSOCK EXECUTIVE DIRECTOR 5057642900 2024-10-30 1 0 RONALD E SCHRANZ P00579271 5052656604 2023 2024-10-15 13:58:12Z ROBERT BOWERSOCK 215 LOCUST NE ALBUQUERQUE NM 87102 3797323 0 X N/A X 1977 NM THE ENDOWMENT FOUNDATION OF THE FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE EXISTS TO SUPPORT THE CURRENT AND LONG-TERM NEEDS OF FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE AND ITS MISSION. THE FOUNDATION ACCEPTS, MANAGES AND DISBURSES FUNDS FROM ENTITIES OR PERSONS AFFILIATED WITH FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE, THE CHARACTER OF WHICH MAY BE RESTRICTED BY THEIR ENTITY OR DONOR, SO LONG AS IT IS CONSISTENT WITH THE MISSION OF THE CHURCH.THE FUNDS ARE MANAGED IN PERPETUITY. 13 13 1 0 -99053 0 55000 1500 0 0 305503 545888 0 0 360503 547388 821409 851362 0 0 41359 41359 0 0 0 92474 5978 955242 898699 -594739 -351311 11731035 12572775 234684 235099 11496351 12337676 X THE ENDOWMENT FOUNDATION OF THE FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE EXISTS TO SUPPORT THE CURRENT AND LONG-TERM NEEDS OF FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE AND ITS MISSION. THE FOUNDATION ACCEPTS, MANAGES AND DISBURSES FUNDS FROM ENTITIES OR PERSONS AFFILIATED WITH FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE, THE CHARACTER OF WHICH MAY BE RESTRICTED BY THEIR ENTITY OR DONOR, SO LONG AS IT IS CONSISTENT WITH THE MISSION OF THE CHURCH. THE FUNDS ARE MANAGED IN PERPETUITY. 0 0 823332 816713 GRANTS AND OTHER SUPPORT ARE MADE TO FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE, NEW MEXICO, INC. TO PROVIDE FUNDING TO FURTHER THE MISSION OF THE CHURCH AND PROGRAMS WITHIN THE CHURCH. 23098 23098 GRANTS PROVIDED TO EDUCATIONAL PROGRAMS TO STUDENTS SELECTED BY THE SCHOLARSHIP COMMITTEE OF THE FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE, NEW MEXICO, INC. SCHOLARSHIPS ARE BASED ON NEED AND ACADEMIC RECORD. 11551 11551 TO PROVIDE SUPPORTING OPERATIONS AND TUITION ASSISTANCE TO STUDENTS WHO ATTEND MENAUL SCHOOL. THE RECIPIENTS WHO RECEIVE AID ARE DETERMINED BY THE MENAUL SCHOOL FINANCIAL AID DEPARTMENT. 857981 1 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 0 0 NM X JABEEN VAGH 5053628850 215 LOCUST NE ALBUQUERQUE NM 87102 STEPHEN RHOADES CHAIRMAN 2.00 X X 0 0 0 CURTIS PORTER VICE CHAIRMAN 2.00 X X 0 0 0 JUDITH MEAD SECRETARY 2.00 X X 0 0 0 WILL BURNETT TRUSTEE 1.00 X 0 0 0 JANEEN DOGGETT TRUSTEE 1.00 X 0 0 0 ANN FARRIS TRUSTEE 1.00 X 0 0 0 MERRI LEWIS TRUSTEE 1.00 X 0 0 0 JOHN PARMETER TRUSTEE 1.00 X 0 0 0 AMANDA PILCHER TRUSTEE 1.00 X 0 0 0 CAROL CARLSON TRUSTEE 1.00 X 0 0 0 STEVE MAIZE TRUSTEE 1.00 X 0 0 0 JANE FARRIS TREASURER 1.00 X 0 0 0 ROBERT BOWERSOCK EXECUTIVE DIRECTOR 30.00 X 38400 0 0 38400 0 0 0 0 0 0 0 1500 1500 359561 -99053 458614 3436262 3249935 186327 186327 186327 547388 0 -99053 644941 816713 816713 34649 34649 38400 5760 32640 2959 444 2515 19434 19434 2767 415 2352 993 993 4065 4065 SPLIT INTEREST AGREEMEN 12798 12798 REAL ESTATE TAXES 9 9 FEDERAL INCOME TAXES -34088 -34088 898699 857981 40718 0 116207 141512 15223 0 351 9351 351 10653263 11465293 936991 936991 0 28628 11731035 12572775 1034 12694 233650 222405 234684 235099 X 7130675 7555568 4365676 4782108 11496351 12337676 11731035 12572775 -351311 1192636 0 X X 0 1 X 1 0 X X 1 FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE 850115803 1 1 816677 0 1 816677 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 SCHEDULE A, PART IV, SECTION A, LINE 6: THE FOUNDATION PROVIDED $11,551 OF TUITION ASSISTANCE TO STUDENTS WHO ATTEND MENUAL SCHOOL. THE RECEPIENTS WHO RECEIVE AID ARE DETERMINED BY THE MENAUL SCHOOL FINANCIAL AID DEPARTMENT. THE FOUNDATION PROVIDED $ 23,098 TO EDUCATIONAL PROGRAMS TO STUDENTS SELECTED BY THE SCHOLARSHIP COMMITTEE OF THE FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE, NEW MEXICO, INC. SCHOLARSHIPS ARE BASED ON NEED AND ACADEMIC RECORD. 11496351 1500 1727987 851362 36800 12337676 14655299 55000 -2262297 821409 130242 11496351 14140401 15000 1357674 766283 91493 14655299 15707768 20100 1484061 740325 2331203 14140401 13490024 681645 2530912 859179 135634 15707768 0.61240 0.19680 0.19080 0 0 351 351 351 LECTROSONICS, INC. 936991 F 936991 ANNUITIES PAYABLE 46876 AGENCY ACCOUNTS PAYABLE 175529 222405 X 1740024 1180599 12037 1192636 547388 0 547388 898699 0 898699 0 898699 PART X, LINE 2: THE FOUNDATION HAS ADOPTED THE PROVISIONS OF ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE FOUNDATION RECOGNIZES THE TAX (BENEFIT) EXPENSE FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY THE TAX AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. ANY SUCH TAX (BENEFIT) EXPENSE IS MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE FOUNDATION HAD NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2023 AND 2022. THE FOUNDATION FILES AN EXEMPT ORGANIZATION RETURN WITH THE INTERNAL REVENUE SERVICE (IRS). IT IS NOT A "PRIVATE FOUNDATION" FOR TAX PURPOSES. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE FOUNDATION'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. INCOME TAX EXPENSE TOTALED ($34,087) AND $33,101 FOR THE YEARS ENDED DECEMBER 31, 2023 AND DECEMBER 31, 2022, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENTS 10,537. DONATIONS 1,500. 1 FIRST PRESBYTERIAN CHURCH 215 LOCUST ST NE ALBUQUERQUE NM 87102 850115803 501(C)(3) 816713 0 SUPPORT OPERATIONS UNM-SCHOLARSHIPS 23098 MENAUL SCHOOL-SCHOLARSHIPS 11551 PART I, LINE 2: THE ORGANIZATION IS A SUPPORTING ORGANIZATION TO THE GRANTEE CHURCH. THE SOLE PURPOSE OF THE ORGANIZATION IS TO PERMANENTLY SUPPORT THE CHURCH, AND ALL MEMBERS OF THE GOVERNING BODY OF THE ORGANIZATION ARE ACTIVE MEMBERS OF THE CHURCH. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE FOUNDATION ACCOUNTANT, THE BOARD TREASURER, AND THE EXECUTIVE DIRECTOR BEFORE IT IS PROCESSED. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE REQUIRED TO SIGN CONFLICTS OF INTEREST POLICIES ON AN ANNUAL BASIS IF THERE IS A CHANGE, OR A STATEMENT ACKNOWLEDGING THAT THERE ARE NO CHANGES. IF THERE ARE ANY CONFLICTS OF INTEREST, THEN THE INFORMATION IS REVIEWED BY THE BOARD TO DETERMINE IF THE CONFLICT COMPROMISES THE ORGANIZATION, AND IF THE BOARD MEMBER SHOULD BE ASKED TO STEP DOWN. THIS POLICY IS REVIEWED ANNUALLY BY THE GOVERNANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR SUPERVISES THH ACCOUNTING AND BOOKKEEPING FOR THE ORGANIZATION. THE BOARD REVIEWS HIS COMPENSATION ANNUALLY, AND THE DECISION IS RECORDED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES THE INFORMATION AVAILABLE TO THE MEMBERS OF THE CHURCH UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FIRST PRESBYTERIAN CHURCH OF ALBUQUERQUE 215 LOCUST NE ALBUQUERQUE NM 87102 850115803 CHURCH NM 501(C)(3) LINE 1 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0