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Nonprofiteer
← TOWERCARES FOUNDATION INC

Form 990 for tax year 2023

Filed by TOWERCARES FOUNDATION INC.

Totals

Total revenue
$707,207
Total expenses
$747,955
Contributions and grants received
$695,764
Grants paid
$707,200
Program service revenue
$0
Investment income
$8,873
Other revenue
$2,570
Total assets, end of year
$1,091,044
Total liabilities, end of year
$6,266
Net assets or fund balances, end of year
$1,084,778
Program services expenses (Part IX)
$712,460
Management and general expenses
$35,495
Fundraising expenses
$0
Program service expenses (Part III)
$712,460

Program services were 95.3% 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.

  • 1b · Membership dues

    $384,525

  • 1c · Fundraising events

    $16,970

  • 1f · All other contributions, gifts and grants

    $294,269

  • 3 · Investment income

    total $8,873 · excluded $8,873

  • 8a · Fundraising events: gross income

    $13,390

  • 8a · Fundraising events: contributions included on line 1c

    $16,970

  • 8b · Fundraising events: direct expenses

    $14,782

  • 8c · Net income from fundraising events

    total -$1,392 · excluded -$1,392

  • 9a · Gaming: gross income

    $3,395

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $3,395 · excluded $3,395

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $567 · excluded $567

  • 11e · Other revenue, total

    $567

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $547,200 · program services $547,200

  • 2 · Grants to domestic individuals

    total $160,000 · program services $160,000

  • 11c · Fees: accounting

    total $3,002 · management and general $3,002

  • 13 · Office expenses

    total $24,735 · management and general $24,735

  • 24a · Other expenses: STATE REGISTRATION FEES

    total $7,683 · management and general $7,683

  • 24b · Other expenses: GRANT ADMINISTRATION

    total $5,260 · program services $5,260

  • 24c · Other expenses: DUES

    total $75 · management and general $75

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $112,039 · end of year $26,731

  • 2 · Savings and temporary cash investments

    beginning of year $1,011,880 · end of year $1,057,896

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,917 · end of year $6,417

  • 10a · Land, buildings and equipment: cost or other basis

    $15,247

  • 10b · Land, buildings and equipment: accumulated depreciation

    $15,247

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,310 · end of year $6,266

  • 27 · Net assets without donor restrictions

    beginning of year $1,125,526 · end of year $1,084,778

Mission and programs · 2023

Mission

TOWERCARES SUPPORTS CHILDREN IN NEED AS WELL AS BRAVE AND HEROIC INDIVIDUALS AND THEIR FAMILIES WHO HAVE SACRIFICED WHILE PROTECTING OUR FREEDOM.

Activities or mission (Part I)

SUPPORT CHILDREN IN NEED AS WELL AS HEROIC INDIVIDUALS AND THEIR FAMILIES.

  • TOWERCARES GRANTS:GRANTS TO SUPPORT CHARITIES THAT MEET OUR MISSION: CHILDREN IN NEED AND BRAVE AND HEROIC INDIVIDUALS AND THEIR FAMILIES WHO HAVE SACRIFICED WHILE PROTECTING OUR FREEDOM.TOWERCARES HOLDS AN ANNUAL GOLF TOURNAMENT TO BENEFIT JOHNS HOPKINSCHILDREN'S CENTER TO SUPPORT PEDIATRIC CARE AND RESEARCH. IN 2023TOWERCARES DONATED $51,000 OF PROCEEDS TO THE ORGANIZATION.

    Expenses $538,200 · Grants $538,200

  • TOWERCARES SCHOLARSHIP PROGRAM:PROVIDED THIRTY $5,000 SCHOLARSHIPS TO STUDENT PURSUING STEM STUDIES AS THEIR COLLEGE MAJOR TO SUPPORT OUR MISSION TO ASSIST CHILDREN IN NEED. ONE 10,000 SCHOLARSHIP EXPENSES: $5,000 ADMIN FEE AND $260 FOR CHECKS.

    Expenses $165,260 · Grants $160,000

  • ANGEL PROGRAM:PROVIDED NINE $1,000 HOLIDAY FINANCIAL ASSISTANCE GRANTS TO ENLISTED SERVICE MEMBERS AND MILITARY FAMILIES IN NEED AT FORT MEADE.

    Expenses $9,000 · Grants $9,000

As filed on the 2023 return.

Listed in Part VII

  • RICHARD STAFFORD

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • R ALLEN BRISENTINE

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • TOM POE

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • ALVIN SMITH

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.3

  • CMSGT KATHRYN BIRGE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • MARTIN BRELAND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • MARIE E ROWLAND

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • ARLAND WHITE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

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.

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.

  • TOWER FEDERAL CREDIT UNION

    BANK · MD

Provenance

Return type
form_990
Tax year
2023
Filed
25 March 2024
IRS schema version
2023v5.0
Source object
202430879349300218

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