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Nonprofiteer
← KNOTHOLE FOUNDATION INC

Form 990 for tax year 2024

Filed by KNOTHOLE FOUNDATION INC.

Totals

Total revenue
$1,198,252
Total expenses
$1,065,929
Contributions and grants received
$626,955
Grants paid
$0
Program service revenue
$538,015
Investment income
$23
Other revenue
$33,259
Total assets, end of year
$6,398,033
Total liabilities, end of year
$2,265,440
Net assets or fund balances, end of year
$4,132,593
Program services expenses (Part IX)
$932,561
Management and general expenses
$90,665
Fundraising expenses
$42,703
Program service expenses (Part III)
$932,561

Program services were 87.5% 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.

  • 1e · Government grants (contributions)

    $16,248

  • 1f · All other contributions, gifts and grants

    $610,707

  • 2a · Program service revenue: FIELD AND FACILITY FEES

    total $445,354 · related or exempt $445,354

  • 2b · Program service revenue: CONCESSION INCOME

    total $27,658 · related or exempt $27,658

  • 2c · Program service revenue: SPONSORSHIP INCOME

    total $26,333 · related or exempt $26,333

  • 2d · Program service revenue: SHOWCASES/TOURNAMENTS

    total $23,685 · related or exempt $23,685

  • 2e · Program service revenue: MAINTENANCE REIMBURSEMENTS

    total $14,985 · related or exempt $14,985

  • 3 · Investment income

    total $23 · excluded $23

  • 11a · Other revenue: OTHER REVENUE

    total $33,259 · related or exempt $33,259

  • 11e · Other revenue, total

    $33,259

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $60,000 · program services $60,000

  • 7 · Other salaries and wages

    total $312,058 · program services $268,566 · management and general $34,492 · fundraising $9,000

  • 10 · Payroll taxes

    total $3,670 · program services $3,670

  • 11c · Fees: accounting

    total $13,740 · management and general $13,740

  • 12 · Advertising and promotion

    total $33,703 · fundraising $33,703

  • 13 · Office expenses

    total $664 · management and general $664

  • 14 · Information technology

    total $32,990 · management and general $32,990

  • 20 · Interest

    total $45,111 · program services $45,111

  • 22 · Depreciation, depletion and amortization

    total $312,929 · program services $312,929

  • 23 · Insurance

    total $20,587 · program services $20,587

  • 24a · Other expenses: MAINTENANCE & UTILITIES

    total $142,608 · program services $142,608

  • 24b · Other expenses: TOURNAMENT EXPENSES

    total $32,734 · program services $32,734

  • 24c · Other expenses: CONCESSION STAND EXPENSES

    total $20,062 · program services $20,062

  • 24d · Other expenses: MATERIALS

    total $18,223 · program services $18,223

  • 24e · All other expenses

    total $16,850 · program services $8,071 · management and general $8,779

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $179,395 · end of year $124,549

  • 3 · Pledges and grants receivable

    beginning of year $660,000 · end of year $96,667

  • 8 · Inventories for sale or use

    beginning of year $159,784 · end of year $53,052

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

    $7,374,629

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

    $1,250,864

  • 10c · Land, buildings and equipment, net

    beginning of year $5,531,643 · end of year $6,123,765

  • 17 · Accounts payable and accrued expenses

    beginning of year $47,643 · end of year $1,883

  • 19 · Deferred revenue

    beginning of year $1,837,517 · end of year $1,637,517

  • 23 · Secured mortgages and notes payable

    beginning of year $645,392 · end of year $626,040

  • 27 · Net assets without donor restrictions

    beginning of year $4,000,270 · end of year $4,132,593

Mission and programs · 2024

Mission

KNOTHOLE'S MISSION IS TO PROMOTE THE SPORT OF BASEBALL IN UNDERSERVED COMMUNITIES AND TO CREATE LIFE OPPORTUNITIES FOR UNDERSERVED YOUTH BY PROVIDING ACCESS TO FACILITIES, EDUCATION, HEALTH AND WELLNESS PROTOCOLS.

  • THE SIGNIFICANT AMOUNT OF FUNDS DEVOTED TO CAPITAL THRU 2021 SHIFTED TO OPERATIONS IN 2022 AND CONTINUED THRU 2024 AS THE MAJORITY OF FIELD/FACILITY DEVELOPMENT WAS COMPLETED AND ONGOING MAINTENANCE AND OPERATIONS IN SUPPORT OF TEAMS, CAMPS, CLINICS, EVENTS AND COMMUNITY OUTREACH WAS EMPHASIZED. THIS HAS PROVIDED THE FOUNDATION FOR FULLY SERVING THE COMMUNITY AND RELATED MISSION OF INCREASING DIVERSITY AND ACCESS FOR YOUTH BASEBALL, AFFORDING YOUTH AGES 4-18 THE BENEFIT OF TEAM SPORTS, ALONG WITH THE WRAP-AROUND SUPPORT FOR EDUCATION AND LIFE SKILLS.

    Expenses $466,281 · Revenue $269,008

  • PROGRAMMING CONTINUED TO SCALE SIGNIFICANTLY AS THE NUMBER OF YOUTH PLAYING AFFILIATED ON TEAMS INCREASED AS DID THE NUMBER OF YOUTH INTRODUCED TO BASEBALL (1,700), MANY FOR THE FIRST TIME, THROUGH CAMPS AND CLINICS CONDUCTED AT THE DREAM FIELDS AND IN COMMUNITY. KEY EVENTS WERE ALSO PLANNED AND EXECUTED (I.E. 5TH ANNUAL HBCU CAMP/SHOWCASE; 3RD ANNUAL WESTSIDE STORY SPRING BREAK TOURNAMENT; NATIONAL NIGHT OUT IN PARTNERSHIP WITH CMPD; BACK TO SCHOOL EVENT). EDUCATION CONTINUED TO BE IMBEDDED IN THE FABRIC OF BASEBALL-THEMED ACTIVITIES (AS MEASURED BY OF READING HOURS; % PLAYERS ENGAGED IN READING). AFFORDABLE ACCESS CONTINUED TO BE AN AREA OF FOCUS WITH MOST ACTIVITIES DELIVERED AT NO COST TO PARTICIPANTS AND OVER 90% SUBSIDIZED FOR PLAYER PARTICIPATION ON TEAMS.

    Expenses $466,280 · Revenue $269,007

As filed on the 2024 return.

Listed in Part VII

  • Morris Madden

    SECRETARY

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    15 + 35 related

  • Jeff Schaeffer

    OFFICER

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    20 + 10 related

  • Patrick Baker

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Alan Barnes

    TREASURER

    Total calculated
    $0
    Hours/week
    20 + 10 related

  • Jeff Bose

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tashia Coe

    EXECUTIVE CO

    Total calculated
    $0
    Hours/week
    2

  • Harold Grier

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tj Lewis

    EXECUTIVE CO

    Total calculated
    $0
    Hours/week
    2

  • Harold Lloyd

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

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

No itemized grants to organizations 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
2024
Filed
25 August 2025
IRS schema version
2024v5.0
Source object
202532969349301323

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