Fundet Foundation Inc
- Assets
- $87.2m
- Revenue
- $9.3m
- Investments
- $250.0k
- Employees
- 0
- Location
- Salt Lake City, UT
- Founding
- 09/2003
- Data as of
- 12/2021
- EIN
- 81-0598756
Organization Overview
Fundet Foundation Inc is located in Salt Lake City, UT. The organization was established in 2003. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, 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. Fundet Foundation Inc 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 12/2021, Fundet Foundation Inc generated $9.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL TRADE SCHOOLS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hector Cando Vice President | 0 | $0 | |
James Craddock Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,265,606 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,083,570 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$50,236 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $9,298,940 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $40,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,854 |
| Printing and publications | $0 |
| Other expenses | $1,500,349 |
| Total operating and administrative expenses | $1,582,303 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,582,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $86,857,305 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $250,000 |
| Net Land, buildings, and equipment | $42,992 |
| Other assets | $0 |
| Total assets | $87,150,297 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Fundet Foundation Inc has awarded $1,029,820 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
THE CHURCH OF JESUS CHRIST OF LDS PURPOSE: CHARATABLE RELIGIOUS DONATIONS | $1,019,890 |
Buena Vista, VA PURPOSE: EDUCATION | $5,500 |
DAVIESS MCLEAN BAPTIST ASSOC PURPOSE: CHAITABLE GIVING | $2,280 |
BOYSCOUTS OF AMERICA PURPOSE: YOUTH SUPPORT AND EDUCATION | $1,000 |
Solana Beach, CA PURPOSE: CHARITABLE GIVING | $480 |
LDS FAMILY SERVICES PURPOSE: FAMILY COUNSELING SRVICES | $270 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catholic Foundation For The Roman Catholic Church In Northern Co Greenwood Village, CO | $189,871,667 | $21,361,105 |
Missions Of Hope International Phoenix, AZ | $1,398,105 | $11,092,409 |
Bethesda Associates Colorado Springs, CO | $36,099,064 | $6,342,925 |
Legacy Of Yogi Bhajan Foundation Santa Cruz, NM | $17,787,649 | $1,568,900 |
The Vivian Skaggs Armstrong Foundation Salt Lake City, UT | $22,629,556 | $1,980,008 |
Fundet Foundation Inc Salt Lake City, UT | $87,150,297 | $9,298,940 |
Joseph J Storey Charitable Remainder Unitrust Las Vegas, NV | $7,569,430 | $1,397,221 |
Spiritual Care Link Foundation Scottsdale, AZ | $356,325 | $815,410 |
Shedry Dar Foundation Mesa, AZ | $4,092,490 | $2,757,316 |
Chris Harri Charitable Trust 0900050100 Las Vegas, NV | $5,961,112 | $608,987 |
Truth Encounter Ministries Colorado Springs, CO | $1,572,100 | $267,468 |
Servant Leadership Foundation Littleton, CO | $36,057 | $361,000 |