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Nonprofiteer
← HOWARD FUND

Form 990 for tax year 2023

Filed by HOWARD FUND.

Totals

Total revenue
$2,985,844
Total expenses
$1,290,289
Contributions and grants received
$2,948,859
Grants paid
$1,235,000
Program service revenue
$0
Investment income
$36,985
Other revenue
$0
Total assets, end of year
$11,336,902
Total liabilities, end of year
$785,000
Net assets or fund balances, end of year
$10,551,902
Program services expenses (Part IX)
$1,235,000
Management and general expenses
$55,289
Fundraising expenses
$0
Program service expenses (Part III)
$1,235,000

Program services were 95.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $2,948,859

  • 1g · Noncash contributions included above

    $2,948,859

  • 3 · Investment income

    total $36,985 · excluded $36,985

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,235,000 · program services $1,235,000

  • 11c · Fees: accounting

    total $3,630 · management and general $3,630

  • 11g · Fees: other

    total $50,000 · management and general $50,000

  • 23 · Insurance

    total $1,624 · management and general $1,624

  • 24a · Other expenses: FEES AND LICENSES

    total $35 · management and general $35

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $129,587 · end of year $2,133

  • 4 · Accounts receivable

    beginning of year $50,000

  • 12 · Investments: other securities

    beginning of year $7,785,942 · end of year $11,334,769

  • 18 · Grants payable

    beginning of year $255,000 · end of year $785,000

  • 27 · Net assets without donor restrictions

    beginning of year $7,710,529 · end of year $10,551,902

Mission and programs · 2023

Mission

THE FUND WAS ESTABLISHED AS A SUPPORTING ORGANIZATION FOR THE COMMUNITY FOUNDATION OF GREATER CHATTANOOGA, INC.

Activities or mission (Part I)

THE FUND IS A SUPPORTING ORGANIZATION FOR THE COMMUNITY FOUNDATION OF GREATER CHATTANOOGA, INC. WHOSE MISSION IS TO INSPIRE GIVING AND ENCOURAGE ACTION TO IMPROVE LIVES IN THE GREATER CHATTANOOGA AREA.

  • PROVIDING SCHOLARSHIPS AND FUNDS FOR AREA BEAUTIFICATION, DOWNTOWN DEVELOPMENT, HEALTH RELATED ISSUES, CIVIC AND CULTURAL IMPROVEMENTS, AND EDUCATIONAL AND HUMANITARIAN PROGRAMS.

    Expenses $1,235,000 · Grants $1,235,000

As filed on the 2023 return.

Listed in Part VII

  • JOSEPH H DAVENPORT III

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • JOSEPH H DAVENPORT IV

    SECRETARY AND TREASURER

    Total calculated
    $0
    Hours/week
    4

  • TED ALLING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PATRICK STOWE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LESLEY SCEARCE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MAEGHAN JONES

    PRESIDENT - CFGC

    Total calculated
    $245,237
    From this org
    $0
    From related orgs
    $213,191
    Other
    $32,046
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $213,191 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $21,320 related
    Nontaxable benefits
    $0 + $10,726 related
    Filer's total
    $0 + $245,237 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
7 October 2024
IRS schema version
2023v5.1
Source object
202423099349302512

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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