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Nonprofiteer
← L C INDUSTRIES FOUNDATION

Form 990 for tax year 2022

Filed by L C INDUSTRIES FOUNDATION.

Totals

Total revenue
$3,029,940
Total expenses
$2,307,535
Contributions and grants received
$0
Grants paid
$1,941,000
Program services expenses (Part IX)
$2,071,535
Management and general expenses
$236,000
Fundraising expenses
$0
Program service expenses (Part III)
$2,071,535

Program services were 89.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • WILLIAM HUDSON

    PRESIDENT

    Total calculated
    $458,556
    From this org
    $0
    From related orgs
    $458,556
    Other
    $0
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $458,556 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $458,556 related

  • STEPHEN HARRIS

    TREASURER

    Total calculated
    $0
    Hours/week
    5 + 5 related

  • JOHN JANES

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • PATRICK LINDSEY

    BOARD MEMBER

    Total calculated
    $687,915
    From this org
    $0
    From related orgs
    $668,302
    Other
    $19,613
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $551,650 related
    Bonus
    $0 + $111,680 related
    Other
    $0 + $4,972 related
    Deferred
    $0 + $10,675 related
    Nontaxable benefits
    $0 + $8,938 related
    Filer's total
    $0 + $687,915 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 — 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

  • 5b · Pay contingent on a related organization's revenues

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
  • 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

The filer's explanations (Part III)

PART I, LINE 5
THE ANNUAL PROFITS OF THE COMPANY INDIRECTLY INFLUENCE AMOUNTS REWARDED AS ANNUAL BONUSES TO ALL EMPLOYEES INCLUDING OFFICERS. ALL BONUSES ARE APPROVED BY THE BOARD OF DIRECTORS OF RELATED ENTITY, L C INDUSTIRES, INC.
PART I, LINE 5 :
THE ANNUAL PROFITS OF THE COMPANY INDIRECTLY INFLUENCE AMOUNTS REWARDED AS ANNUAL BONUSES TO ALL EMPLOYEES INCLUDING OFFICERS. ALL BONUSES ARE APPROVED BY THE BOARD OF DIRECTORS OF RELATED ENTITY, L C INDUSTRIES, INC.

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

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
2022
Filed
12 February 2024
IRS schema version
2022v5.0
Source object
202420439349301642

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