Soumc Endowment Foundation
- Assets
- $715.5k
- Revenue
- $33.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Sherman Oaks, CA
- Founding
- 10/1998
- Data as of
- 12/2023
- EIN
- 31-1591377
Organization Overview
Soumc Endowment Foundation is located in Sherman Oaks, CA. The organization was established in 1998. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Soumc Endowment Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Soumc Endowment Foundation generated $33.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $29.5k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.5%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SOUMC ENDOWMENT FOUNDATION (SOUMCEF) SUPPORTS THE SHERMAN OAKS UNITED METHODIST CHURCH (SOUMC) BY CONTRIBUTING TO BUILDING MAINTENANCE, TO WORLD-WIDE MISSIONS OF THE CONNECTIONAL METHODIST CHURCH, AND TO LOCAL MISSIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRUSTEE PROJECTS: THE SOUMCEF SUPPORTS SOUMC BY CONTRIBUTING TO BUILDING MAINTENANCE WHICH IS COORDINATED BY THE TRUSTEES OF SOUMC. PAYMENTS ARE DISTRIBUTED BASED ON RECEIPTS SUBMITTED BY THE TRUSTEES UP TO THE BUDGETED AMOUNT.
OUTREACH MISSIONS: THE SOUMCEF SUPPORTS THE SOUMC BY CONTRIBUTING TO THE WORLD-WIDE MISSION PROJECTS OF THE CONNECTIONAL UNITED METHODIST CHURCH THROUGH APPORTIONMENT AMOUNTS ASSIGNED TO SOUMC BY THE CONNECTIONAL CHURCH.
LOCAL MINISTRIES: THE SOUMCEF SUPPORTS SOUMC BY CONTRIBUTING TO MINISTRIES AT THE SHERMAN OAKS LOCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Garth Gilliam Director | Trustee | 0.25 | $0 |
Bertha Carter Director | Trustee | 5 | $0 |
Martha Yarnell Treasurer | Officer | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $33,629 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,629 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $26,529 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $51 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $29,514 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $18,084 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,362 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $687,023 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $715,469 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,501 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,501 |
| Net assets without donor restrictions | $713,968 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $715,469 |