Jeito Foundation
- Assets
- $22.3m
- Revenue
- $729.1k
- Investments
- $10.2m
- Employees
- 0
- Location
- Mesa, AZ
- Founding
- 11/2007
- Data as of
- 12/2022
- EIN
- 41-2152824
Organization Overview
Jeito Foundation is located in Mesa, AZ. The organization was established in 2007. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jeito 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 12/2022, Jeito Foundation generated $729.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.1%) each year. All expenses for the organization totaled $897.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTED THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS.
Describe the Organization's Program Activity:
THE JEITO FOUNDATION PROVIDED A $500,000 GRANT TO SUPPORT AND BENEFIT THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wilford A Cardon Trustee | Trustee | 0.1 | $0 |
Glenn Mckay Trustee | Trustee | 0.1 | $0 |
Dale Jones Trustee | Trustee | 0.1 | $0 |
John M Barger Trustee (retired 2022) | Trustee | 0.1 | $0 |
Patrick Cardon Trustee | Trustee | 0.1 | $0 |
M Wesley Mashburn Trustee (starting 4th Qtr) | Trustee | 0.1 | $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 | $424,538 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $119 |
| Net Rental Income | -$168,325 |
| Net Gain/Loss on Asset Sales | $588,006 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $729,100 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500,000 |
| 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 | $8,163 |
| Fees for services: Accounting | $15,765 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $188,245 |
| Fees for services: Other | $11,759 |
| Advertising and promotion | $0 |
| Office expenses | $60 |
| 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 | $18,764 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $670 |
| All other expenses | $0 |
| Total functional expenses | $897,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,070,744 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,513 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,607,360 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,330,463 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,245,861 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,268,941 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $22,268,941 |
| 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 | $22,268,941 |
Grants Awarded
Over the last fiscal year, Jeito Foundation has awarded $1,250,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS PURPOSE: SUPPORTED THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS IN RESPONSE TO ITS NEEDS. | $300,000 |
BRIGHAM YOUNG UNIVERSITY PURPOSE: SUPPORTED BRIGHAM YOUNG UNIVERSITY-PROVO IN RESPONSE TO ITS NEEDS. | $850,000 |
BRIGHAM YOUNG UNIVERSITY-IDAHO PURPOSE: SUPPORTED BRIGHAM YOUNG UNIVERSITY-IDAHO IN RESPONSE TO ITS NEEDS. | $100,000 |