Jeito Foundation
- Assets
- $22.4m
- Revenue
- $2.4m
- Investments
- $8.3m
- Employees
- 0
- Location
- Mesa, AZ
- Founding
- 11/2007
- Data as of
- 12/2021
- 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 12/2021, Jeito Foundation generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $718.3k during the year ending 12/2021. 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
2021
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 |
Patrick Cardon Trustee | Trustee | 0.1 | $0 |
John M Barger Trustee | 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 | $453,898 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $59 |
| Net Rental Income | $160,024 |
| Net Gain/Loss on Asset Sales | $1,838,351 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,386,042 |
| 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 | $96,038 |
| Fees for services: Legal | $9,483 |
| Fees for services: Accounting | $10,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,565 |
| Advertising and promotion | $0 |
| Office expenses | $37 |
| 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 | $14,849 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $816 |
| All other expenses | $0 |
| Total functional expenses | $718,321 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,525,697 |
| Savings and temporary cash investments | $740,722 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $98 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $491,264 |
| 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 | $8,348,702 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,436,946 |
| 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 | $22,436,946 |
| 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 | $22,436,946 |
Grants Awarded
Over the last fiscal year, Jeito Foundation has awarded $1,250,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Provo, UT PURPOSE: SUPPORTED BRIGHAM YOUNG UNIVERSITY-PROVO IN RESPONSE TO ITS NEEDS. | $850,000 |
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 |
Rexburg, ID PURPOSE: SUPPORTED BRIGHAM YOUNG UNIVERSITY-IDAHO IN RESPONSE TO ITS NEEDS. | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ccf-La Supporting Organization Los Angeles, CA | $162,068,078 | $45,763,526 |
Purpose Driven Connection Rancho Santa Margarita, CA | $29,393,570 | $25,518,921 |
Bethel Music Redding, CA | $17,020,388 | $17,178,099 |
New Life Holding Corporation Woodland Park, CO | $112,165,344 | $1,723,190 |
Stewardship Endowment Fund Scottsdale, AZ | $47,139,512 | $6,876,380 |
Conference Claimants Endowment Bd California Ann Conf Methodist Ch Stockton, CA | $134,531,224 | $10,421,570 |
Bethel Media Redding, CA | $2,416,750 | $3,101,104 |
Legacy For The Kingdom Phoenix, AZ | $44,613,062 | $3,223,185 |
Catholic Community Foundation Of San Diego San Diego, CA | $89,259,750 | $4,327,946 |
Secrets Unsealed Fresno, CA | $5,504,604 | $3,996,381 |
A P Reilly Foundation Santa Monica, CA | $46,201,571 | $194,000 |
Colorado Springs Utilities Foundation Colo Springs, CO | $2,751,625 | $1,147,424 |