Form990-PF
Click to see attachment
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Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 10-01-2021 , and ending 09-30-2022
Name of foundation
The Believers Foundation Inc
 
Number and street (or P.O. box number if mail is not delivered to street address)2326 S Parsons Avenue
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Seffner, FL33584
A Employer identification number

59-2851282
B Telephone number (see instructions)

(813) 681-5796
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$30,102,490J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 1,000
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 407,035 407,035  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 853,724
b Gross sales price for all assets on line 6a 3,372,137
7 Capital gain net income (from Part IV, line 2)... 853,724
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 439,186 439,186  
12 Total. Add lines 1 through 11........ 1,700,945 1,699,945  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 115,904 0   0
14 Other employee salaries and wages...... 101,790 0   85,000
15 Pension plans, employee benefits....... 137,814 0   34,607
16a Legal fees (attach schedule)......... Click to see attachment 6,680 0   0
b Accounting fees (attach schedule)....... Click to see attachment 88,169 0   4,555
c Other professional fees (attach schedule).... Click to see attachment 100,437 100,437   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 35,887 0   0
19 Depreciation (attach schedule) and depletion... Click to see attachment 21,528 0  
20 Occupancy.............. 63,869 0   0
21 Travel, conferences, and meetings....... 63,474 0   63,474
22 Printing and publications.......... 7,334 0   7,279
23 Other expenses (attach schedule)....... Click to see attachment 26,960 2,250   7,051
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 769,846 102,687   201,966
25 Contributions, gifts, grants paid....... 10,000 10,000
26 Total expenses and disbursements. Add lines 24 and 25 779,846 102,687   211,966
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 921,099
b Net investment income (if negative, enter -0-) 1,597,258
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 1,853,245 595,979 595,979
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet200,237
Less: allowance for doubtful accounts bullet0 212,237 Click to see attachment200,237 200,237
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 3,581,864 Click to see attachment5,084,742 5,084,742
b Investments—corporate stock (attach schedule)....... 11,961,637 Click to see attachment8,857,780 8,857,780
c Investments—corporate bonds (attach schedule)....... 1,817,073 Click to see attachment2,333,060 2,333,060
11 Investments—land, buildings, and equipment: basis bullet3,668,808
Less: accumulated depreciation (attach schedule) bullet     3,668,808 3,668,808
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 14,200,184 Click to see attachment9,160,826 9,160,826
14 Land, buildings, and equipment: basis bullet480,322
Less: accumulated depreciation (attach schedule) bullet304,615 193,978 Click to see attachment175,707 175,707
15 Other assets (describe bullet) Click to see attachment521,570 Click to see attachment25,351 Click to see attachment25,351
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 34,341,788 30,102,490 30,102,490
Liabilities 17 Accounts payable and accrued expenses.......... 162,745 30,684
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 162,745 30,684
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 34,179,043 30,071,806
29 Total net assets or fund balances (see instructions)..... 34,179,043 30,071,806
30 Total liabilities and net assets/fund balances (see instructions). 34,341,788 30,102,490
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
34,179,043
2
Enter amount from Part I, line 27a .....................
2
921,099
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
35,100,142
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
5,028,336
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
30,071,806
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly Traded Securities      
b Vittoria Offshore Fund P 2019-01-01 2022-09-30
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 2,372,137   1,777,437 594,700
b 1,000,000   740,976 259,024
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       594,700
b       259,024
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 853,724
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 22,202
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 22,202
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 22,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 4,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 26,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 103
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 3,695
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet3,695 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
Yes
 
If "Yes," attach a detailed description of the activities.Click to see attachment
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletFL, GA
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletNone
    14
    The books are in care ofbulletKenneth G Fuller Telephone no.bullet (813) 681-5796

    Located atbullet2326 S Parsons AvenueSeffnerFL ZIP+4bullet33584
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
    Yes
     
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
    Yes
     
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
    No
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    Stephen L Jaeb President
    10.00     		6,000 37,202 0
    2326 S Parsons Avenue
    Seffner,FL33584
    Kenneth G Fuller Vice President/Exec. Dir.
    40.00     		109,904 42,847 15,000
    2326 S Parsons Avenue
    Seffner,FL33584
    Sandra D Jaeb Secretary/Treasurer
    1.00     		0 0 0
    2326 S Parsons Avenue
    Seffner,FL33584
    Joel Jaeb Director
    5.00     		0 11,131 0
    2326 S Parsons Avenue
    Seffner,FL33584
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    James Smith Director of Word Cap
    40.00     		85,000 30,185 0
    2326 S Parsons Avenue
    Seffner,FL33584
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    PNC Private Bank Hawthorn Investment Services 66,811
    201 N Franklin St Suite 1500
    Tampa,FL33602
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 The Foundation supports conferences, trains pastors, and teaches in schools. The Foundation also supports the spreading of the Gospel through related missionary activities throughout the world. 48,848
    2 Providing consulting, management advisory, and financial coaching services without charge to seminaries and institutes with whom the Foundation has historically supported through its grantmaking and training efforts with the objective of helping the seminaries become financially self-sufficient. 153,118
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    17,783,665
    b
    Average of monthly cash balances.......................
    1b
    1,699,140
    c
    Fair market value of all other assets (see instructions)................
    1c
    12,667,355
    d
    Total (add lines 1a, b, and c).........................
    1d
    32,150,160
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    32,150,160
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    482,252
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    31,667,908
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    1,583,395
    Part X
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    1,583,395
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    22,202
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    22,202
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,561,193
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    1,561,193
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    1,561,193
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 1,561,193
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016...... 2,077,729
    b From 2017...... 1,647,637
    c From 2018...... 3,133,502
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........ 6,858,868
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 211,966
    a Applied to 2020, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount..... 211,966
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 1,349,227 1,349,227
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 5,509,641
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		728,502
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		4,781,139
    10 Analysis of line 9:
    a Excess from 2017.... 1,647,637
    b Excess from 2018.... 3,133,502
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    Stephen L Jaeb
    Sandra D Jaeb
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    Ken Fuller Executive Director
    2326 S Parsons Avenue
    Seffner,FL33584
    (813) 681-5796
    bThe form in which applications should be submitted and information and materials they should include:
    None Specified
    cAny submission deadlines:
    None
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Religious Organizations
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    Grace Bible Church
    12 B Makarenko
    Kyiv   02092
    UP     		  NC Grant funds are to be used to provide humanitarian aid in Ukraine. 10,000
    Total .................................bullet 3a 10,000
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		901101   18 853,724  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 1,699,945 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,699,945
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting & Tax Advisory Services 88,169 0   4,555

    TY 2021 ActyNotPreviouslyRptExpln
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Explanation:
    Providing consulting, management advisory, and financial coaching services without charge to seminaries and institutes with whom the Foundation has historically supported through its grantmaking and training efforts with the objective of helping the seminaries become financially self-sufficient.

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 DepreciationSchedule
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    Home 2009-10-31 196,110 59,711 SL 39.000000000000 5,028 0    
    Leasehold Improvements 2009-10-31 110,012 87,621 150DB 15.000000000000 6,397 0    
    Leasehold Improvements 2009-10-31 150,935 120,214 150DB 15.000000000000 8,777 0    
    Leasehold Improvements 2010-10-31 3,000 2,244 150DB 15.000000000000 168 0    
    Grass ProLawnmower 2014-09-05 3,990 3,990 SL 5.000000000000 0 0    
    Misc 2009-10-31 7,500 7,500 200DB 5.000000000000 0 0    
    Water Purifier 2018-10-31 2,949 1,721 SL 5.000000000000 590 0    
    Computer 2021-07-20 2,569 86 SL 5.000000000000 514 0    
    Computer - Cyber Support 2022-08-31 3,257   SL 5.000000000000 54 0    

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    Grace Bible Church
          		12 B Makarenko
    Kyiv   02092
    UP     		2022-07-18 10,000 Grant funds are to be used to provide humanitarian aid in Ukraine. 10,000 No diversion of funds from the purpose of the grant. 08/05/22 2022-08-05  

    TY 2021 GeneralExplanationAttachment
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Identifier Return Reference Explanation
      Form 990-PF, Part VIII, Line 1, Column (c): The expense account/other allowance amount reported for the Executive Director includes taxable non-cash benefits provided to the Executive Director of approximately $15,000.

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Name of Bond End of Year Book Value End of Year Fair Market Value
    BERKSHIRE HATHAWAY INC 427,001 427,001
    COLGATE-PALMOLIVE CO 246,600 246,600
    JOHNSON & JOHNSON 280,059 280,059
    JOHNSON & JOHNSON 163,821 163,821
    PROCTER & GAMBLE CO/THE 231,990 231,990
    PROCTER & GAMBLE CO/THE 198,774 198,774
    WAL-MART STORES INC 99,098 99,098
    WALMART INC 146,332 146,332
    ISHARES IBOXX $ HIGH YIELD (HYG) CORPORATE BOND ETF 175,262 175,262
    SPDR BLOOMBERG HIGH YIELD BOND (JNK) ETF 172,801 172,801
    BMW BANK NORTH AMERICA INSTL CTF OF DEPOSIT 191,322 191,322

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ADIDAS AG SPONSORED ADR 1,665 1,665
    AERCAP HOLDINGS N.V. SHS 7,154 7,154
    AIA GROUP LTD 4,234 4,234
    ALIBABA GROUP HOLDING LT 7,199 7,199
    ALLEGHANY CORP DEL COM 10,912 10,912
    ALLIANZ SE - UNSP 3,731 3,731
    ALLISON TRANSMISSION HLD 5,604 5,604
    ALPHABET INC SHS CL C 17,595 17,595
    ALPHABET INC SHS CL A 19,800 19,800
    AMAZON COM INC COM 33,900 33,900
    AMERICAN INTERNATIONAL 16,381 16,381
    AMPHENOL CORP CL A NEW 6,897 6,897
    ANGLO AMERICAN PLC SHS 2,955 2,955
    APTARGROUP INC 6,747 6,747
    ARCHER DANIELS MIDLD 19,469 19,469
    ARMSTRONG WORLD INDS INC 9,032 9,032
    ASML HLDG NV NY REG SHS 6,230 6,230
    ASSA ABLOY AB ADR 2,292 2,292
    ASTRAZENECA PLC SPND ADR 5,319 5,319
    ATLAS COPCO A ADR NEW 2,729 2,729
    AUTODESK INC DEL PV$0.01 20,735 20,735
    AXA -SPONS ADR 3,049 3,049
    BALL CORP COM 5,122 5,122
    BAXTER INTERNTL INC 18,420 18,420
    BELLRING BRANDS INC 3,030 3,030
    BHP GROUP LTD 5,905 5,905
    BLACK KNIGHT HOLDCO CORP 7,897 7,897
    BLOCK INC 5,444 5,444
    BNP PARIBAS SPONSORD ADR 2,872 2,872
    BOEING COMPANY 23,126 23,126
    BRIDGESTONE CORP ADR 2,673 2,673
    BROADCOM INC 15,540 15,540
    BROWN FORMAN CORP CL B 6,258 6,258
    CAPGEMINI SE SHS ADR 3,714 3,714
    CARLSBERG AS SPONSOREDAD 2,608 2,608
    CARMAX INC 6,734 6,734
    CHURCHILL DOWNS INC 7,550 7,550
    CIGNA CORP REG SHS 19,145 19,145
    CINN FINCL CRP OHIO 4,658 4,658
    CISCO SYSTEMS INC COM 15,840 15,840
    CITRIX SYSTEMS INC COM 8,000 8,000
    COGNIZANT TECH SOLUTNS A 18,094 18,094
    COLOPLAST A/S SHS ADR 1,611 1,611
    COMCAST CORP NEW CL A 16,953 16,953
    CONAGRA BRANDS INC 21,307 21,307
    CONOCOPHILLIPS 18,012 18,012
    COPART INC COM 12,023 12,023
    CVS HEALTH CORP 18,597 18,597
    DBS GROUP HLDGS SPN ADR 6,946 6,946
    DEERE CO 10,351 10,351
    DEUTSCHE BOERSE AG SHS 3,723 3,723
    DIAGEO PLC SPSD ADR NEW 7,641 7,641
    DISCOVER FINL SVCS 18,184 18,184
    DISNEY (WALT) CO COM STK 31,695 31,695
    DOLLAR GENERAL CORP 19,429 19,429
    DOLLAR TREE INC 30,350 30,350
    DOVER CORP 16,205 16,205
    DUPONT DE NEMOURS INC 18,194 18,194
    EDISON INTL CALIF 17,710 17,710
    ENTEGRIS INC MINNESOTA 11,208 11,208
    EQUITY RESIDENTIAL 16,200 16,200
    EXPEDITORS INTL WASH INC 10,156 10,156
    FACTSET RESH SYS INC 11,603 11,603
    FERGUSON PLC REG SHS 2,985 2,985
    FIDELITY NATL INFO SVCS 16,323 16,323
    GENMAB A/S SHS 2,667 2,667
    GSK PLC SHS ADR 2,619 2,619
    HASBRO INC COM 8,899 8,899
    HDFC BANK LTD ADR 2,220 2,220
    HOLOGIC INC 17,033 17,033
    HONEYWELL INTL INC DEL 19,202 19,202
    HONG KONG EXCHANGES AND 2,612 2,612
    HOYA CORP ADR 4,525 4,525
    IBERDROLA S A ADR 3,907 3,907
    ILLUMINA INC COM 10,112 10,112
    ING GP NV SPSD ADR 2,091 2,091
    INTUITIVE SURGICAL INC 5,998 5,998
    JOHNSON AND JOHNSON COM 20,257 20,257
    KBC GROUPE SA SHS 2,696 2,696
    KERING S A 2,561 2,561
    KONE OYJ SHS CL B 1,788 1,788
    L OREAL CO ADR 4,142 4,142
    LAMB WESTON HOLDINGS INC 13,464 13,464
    LENNOX INTL INC 9,797 9,797
    LONDON STK EXCHANGE 3,591 3,591
    LONZA GROUP AG SHS 3,845 3,845
    LVMH MOET HENNESSY ADR 7,050 7,050
    M&T BANK CORPORATION 11,108 11,108
    MAKITA CORP SPOND ADR 1,522 1,522
    MERCK AND CO INC SHS 22,736 22,736
    META PLATFORMS INC 22,523 22,523
    METLIFE INC COM 18,903 18,903
    MICROSOFT CORP 28,181 28,181
    MOELIS AND COMPANY SHS A 5,984 5,984
    MONSTER BEVERAGE SHS 21,566 21,566
    MOTOROLA SOLUTIONS INC 20,605 20,605
    MUENCHENER RUECK-UNSPON 4,314 4,314
    NESTLE S A REP RG SH ADR 10,331 10,331
    NETFLIX COM INC 18,364 18,364
    NEWMARKET CORP 6,317 6,317
    NIDEC CORPORATION ADR 2,182 2,182
    NORTHROP GRUMMAN CORP 19,283 19,283
    NOVARTIS ADR 17,330 17,330
    NOVO NORDISK A S ADR 15,841 15,841
    NVIDIA 21,972 21,972
    OLD DOMINION FGHT LINES 7,961 7,961
    ORACLE CORP $0.01 DEL 38,352 38,352
    ORSTED SHS ADR 1,614 1,614
    OTIS WORLDWIDE CORP REG 9,251 9,251
    PAYPAL HOLDINGS INC SHS 8,779 8,779
    PERRIGO CO PLC 5,456 5,456
    POST HOLDINGS INC SHS 9,583 9,583
    PRUDENTIAL PLC ADR 2,490 2,490
    QUALCOMM INC 12,767 12,767
    RAYTHEON TECHNOLOGIES 18,091 18,091
    RECRUIT HOLDINGS CO.LTD. 1,920 1,920
    REGENERON PHARMACTCLS 18,599 18,599
    RELX PLC 3,501 3,501
    ROCHE HLDG LTD SPN ADR 20,879 20,879
    RWE AG SPONSORED ADR 3,301 3,301
    SAFRAN SA-UNSPON ADR 2,064 2,064
    SALESFORCE INC 16,542 16,542
    SCHNEIDER ELEC SE ADR 3,375 3,375
    SEI INVT CO PA PV $0.01 8,240 8,240
    SHELL PLC 5,175 5,175
    SHIN-ETSU CHEM-UNSPON 3,956 3,956
    SHOPIFY INC CL A 6,223 6,223
    SKYWORKS SOLUTIONS INC 9,806 9,806
    SMC CORP JAPAN 3,437 3,437
    SONY GROUP CORP 4,099 4,099
    STARBUCKS CORP 13,145 13,145
    STERIS PLC REG SHS 7,483 7,483
    STORE CAP CORP 7,394 7,394
    STRAUMANN HLDG AG SHS 1,851 1,851
    SVENSKA HANDELSBANKEN AB 2,684 2,684
    SYMRISE AG ADR 2,359 2,359
    TAIWAN S MANUFCTRING ADR 5,828 5,828
    TECHTRONIC INDS SPD ADR 1,531 1,531
    TENCENT HOLDINGS LTD ADR 1,962 1,962
    TESLA INC 18,302 18,302
    TJX COS INC NEW 22,612 22,612
    TOKIO MARINE HOLDINGS 3,406 3,406
    TOKYO ELECTRON LTD SHS 4,083 4,083
    TOTALENERGIES SE 8,792 8,792
    TRUIST FINL CORP 17,068 17,068
    UNIFIRST CORP 7,570 7,570
    US BANCORP 16,692 16,692
    VERIZON COMMUNICATNS COM 18,340 18,340
    VERTEX PHARMCTLS INC 19,110 19,110
    VINCI SA ADR 3,637 3,637
    VISA INC CL A SHRS 32,510 32,510
    VOLKSWAGEN AG-UNSP 2,887 2,887
    VOLVO AB-A SHS-UNSPON 2,045 2,045
    VULCAN MATERIALS CO 11,355 11,355
    WOODSIDE ENERGY GROUP 1,572 1,572
    WORKDAY INC CL A 5,937 5,937
    YUM BRANDS INC 8,082 8,082
    YUM CHINA HOLDINGS INC 4,260 4,260
    ISHARES CORE S&P 500 (IVV) ETF 5,772,109 5,772,109
    ISHARES MSCI EAFE VALUE (EFV) ETF 53,171 53,171
    Hawthorn Accrued Income 35,523 35,523
    BNY MELLON INTERNATIONAL STOCK (DISRX) FUND - CLASS I FD #6157 40,955 40,955
    BARON DISCOVERY FUND-INST (BDFIX) 115,691 115,691
    BROOKFIELD GLOBAL LISTED (BGLYX) INFRASTRUCTURE FUND CLASS I FD #2069 362,156 362,156
    COHEN & STEERS INSTL RLTY SH (CSRIX) FUND # 1263 303,293 303,293
    SEAFARER OVERSEAS GROWTH & (SIGIX) INCOME INSTL CLASS FD # 11602 24,723 24,723
    GRANDEUR PEAK US STALWARTS FUND (GUSYX) 125,144 125,144
    VULCAN VALUE PART SM CAP-INS (VVISX) 140,277 140,277
    GRANDEUR PEAK GL STALWA-INST (GGSYX) 160,869 160,869
    MATTHEWS ASIA DIVIDEND FUND (MIPIX) CLASS IS FUND #0109 60,932 60,932
    TOUCHSTONE SANDS EM GR-INST (TSEGX) FUND# 565 31,176 31,176

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    US Government Securities - End of Year Book Value:

    2,073,539
    US Government Securities - End of Year Fair Market Value:

    2,073,539
    State & Local Government Securities - End of Year Book Value:


    3,011,203
    State & Local Government Securities - End of Year Fair Market Value:


    3,011,203


    TY 2021 InvestmentsOtherSchedule2
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    Coin Investment FMV 190,076 190,076
    One-Ounce U.S. Gold Eagle Coins FMV 705,960 705,960
    Vittoria Offshore Fund FMV 4,444,659 4,444,659
    Veritable LG BSD OP FMV 812,145 812,145
    AgAmerica Lending Fund FMV 2,620,119 2,620,119
    GATEWAY FUND (GTEYX) FUND CLASS Y FD #1986 FMV 185,754 185,754
    MERGER FUND CLASS I FD # 301 (MERIX) FMV 202,113 202,113

    TY 2021 LandEtcSchedule2
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Home 196,110 64,739 131,371  
    Leasehold Improvements 110,012 94,018 15,994  
    Leasehold Improvements 150,935 128,991 21,944  
    Leasehold Improvements 3,000 2,412 588  
    Grass ProLawnmower 3,990 3,990 0  
    Misc 7,500 7,500 0  
    Water Purifier 2,949 2,311 638  
    Computer 2,569 600 1,969  
    Computer - Cyber Support 3,257 54 3,203  


    TY 2021 LegalFeesSchedule
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Legal Fees 6,680 0   0


    TY 2021 OtherAssetsSchedule
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    Deposits 1,354 1,354 1,354
    AgAmerica - Distribution Receivable 20,216 23,997 23,997
    Vittoria - Distribution Receivable 500,000 0 0


    TY 2021 OtherDecreasesSchedule
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Description Amount
    Unrealized losses 5,028,336


    TY 2021 OtherExpensesSchedule
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Fees - Registration and Other 4,844 2,250   2,433
    Miscellaneous 1,960 0   373
    Insurance 1,012 0   0
    Office expenses 2,296 0   811
    Dues & Subscriptions 119 0   0
    Postage & Shipping 1,293 0   934
    Repairs & Maintenance 4,496 0   0
    Information Technology 10,940 0   2,500


    TY 2021 OtherIncomeSchedule2
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Rental Income 2,355 2,355 2,355
    Other Income 361 361 361
    Partnership - Ordinary Income 436,470 436,470 436,470


    TY 2021 OtherNotesLoansRcvblShortSch2
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Name of 501(c)(3) Organization Balance Due
    Berean Bible Community Church Inc
          		200,237


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management 100,437 100,437   0


    TY 2021 TaxesSchedule
    Name:
    The Believers Foundation Inc
    EIN:
    59-2851282
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Excise Taxes 25,715 0   0
    Property Taxes 10,172 0   0