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Nonprofiteer
← LYFORD CAY FOUNDATION INC

Form 990 for tax year 2024

Filed by LYFORD CAY FOUNDATION INC.

Totals

Total revenue
$7,036,988
Total expenses
$2,439,883
Contributions and grants received
$3,367,602
Grants paid
$731,668
Program service revenue
$0
Investment income
$3,345,661
Other revenue
$323,725
Total assets, end of year
$39,572,122
Total liabilities, end of year
$249,224
Net assets or fund balances, end of year
$39,322,898
Program services expenses (Part IX)
$1,734,640
Management and general expenses
$375,077
Fundraising expenses
$330,166
Program service expenses (Part III)
$1,734,640

Program services were 71.1% 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

    $3,367,602

  • 1g · Noncash contributions included above

    $134,257

  • 3 · Investment income

    total $670,756 · excluded $670,756

  • 7a · Gross sales of assets other than inventory

    securities $21,384,252

  • 7b · Less cost or other basis and sales expenses

    securities $18,709,347

  • 7c · Gain or loss

    securities $2,674,905

  • 7d · Net gain or loss

    total $2,674,905 · excluded $2,674,905

  • 11a · Other revenue: REIMBURSEMENTS

    total $323,725 · related or exempt $323,725

  • 11e · Other revenue, total

    $323,725

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $437,853 · program services $437,853

  • 3 · Grants to foreign organizations and individuals

    total $293,815 · program services $293,815

  • 7 · Other salaries and wages

    total $758,210 · program services $503,959 · management and general $73,395 · fundraising $180,856

  • 8 · Pension plan contributions

    total $10,733 · program services $4,741 · management and general $1,855 · fundraising $4,137

  • 9 · Other employee benefits

    total $43,469 · program services $19,732 · management and general $7,372 · fundraising $16,365

  • 10 · Payroll taxes

    total $14,481 · program services $8,680 · management and general $1,934 · fundraising $3,867

  • 11b · Fees: legal

    total $14,811 · management and general $3,703 · fundraising $11,108

  • 11c · Fees: accounting

    total $61,661 · management and general $61,661

  • 11f · Fees: investment management

    total $175,933 · management and general $175,933

  • 12 · Advertising and promotion

    total $43,698 · program services $3,282 · fundraising $40,416

  • 13 · Office expenses

    total $59,194 · program services $34,327 · management and general $11,366 · fundraising $13,501

  • 14 · Information technology

    total $113,016 · program services $67,913 · management and general $24,373 · fundraising $20,730

  • 16 · Occupancy

    total $48,177 · program services $27,551 · management and general $9,167 · fundraising $11,459

  • 19 · Conferences, conventions and meetings

    total $26,985 · management and general $1,788 · fundraising $25,197

  • 23 · Insurance

    total $13,150 · program services $8,090 · management and general $2,530 · fundraising $2,530

  • 24a · Other expenses: STUDENT SUPPLIES & SUPP

    total $113,778 · program services $113,778

  • 24b · Other expenses: STUDENT FOOD

    total $86,060 · program services $86,060

  • 24c · Other expenses: STUDENT TRANSPORTATION

    total $73,375 · program services $73,375

  • 24d · Other expenses: TEACHING SUPPLIES & PRO

    total $51,484 · program services $51,484

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,004,165 · end of year $3,493,981

  • 2 · Savings and temporary cash investments

    beginning of year $478,530 · end of year $1,067,298

  • 4 · Accounts receivable

    beginning of year $256,893 · end of year $131,307

  • 9 · Prepaid expenses and deferred charges

    beginning of year $34,939 · end of year $41,957

  • 11 · Investments: publicly traded securities

    beginning of year $28,201,812 · end of year $32,230,528

  • 12 · Investments: other securities

    beginning of year $2,458,820 · end of year $2,607,051

  • 17 · Accounts payable and accrued expenses

    beginning of year $160,470 · end of year $143,454

  • 18 · Grants payable

    beginning of year $17,553 · end of year $105,770

  • 27 · Net assets without donor restrictions

    beginning of year $30,603,025 · end of year $36,271,215

  • 28 · Net assets with donor restrictions

    beginning of year $2,654,111 · end of year $3,051,683

Mission and programs · 2024

Mission

SEE SCHEDULE O.

  • THE FOUNDATION PROVIDES ACADEMIC AND TECHNICAL TRAINING & VOCATIONAL SCHOLARSHIPS FOR DESERVING BAHAMIAN STUDENTS ATTENDING COLLEGES, UNIVERSITIES AND OTHER EDUCATIONAL INSTITUTIONS INTERNATIONALLY. FOR THE FISCAL YEAR 2024, FORTY-FOUR (44) SCHOLARSHIPS WERE GRANTED TO FORTY (40) INSTITUTIONS, TOTALING $631,168.

    Expenses $721,455 · Grants $631,168

  • THE FOUNDATION PROVIDES GRANTS TO NOT-FOR-PROFIT ORGANIZATIONS THAT SEEK TO IMPROVE THE GENERAL EDUCATION, HEALTH AND WELFARE OF THE COMMUNITIES THAT THEY SERVE. IN 2024, GRANTS WERE MADE TO TWENTY (20) ORGANIZATIONS, TOTALING $100,500.

    Expenses $193,417 · Grants $100,500

  • THE FOUNDATION PROVIDES AN EDUCATION INITIATIVE, F.O.C.U.S., WHICH IS AN EIGHT-YEAR SCHOOL ENRICHMENT PROGRAMME DESIGNED TO SET UNDER-RESOURCED STUDENTS ON A PATH TO COLLEGE AND CAREER SUCCESS THROUGH WEEKEND AND SUMMER CLASSES. IN 2024, THE PROGRAMME HOSTED TWO HUNDRED FORTY-TWO (242) STUDENTS, FOR A TOTAL COST OF $632,071.

    Expenses $632,071

  • SPECIAL PROJECTS AND VOLUNTEER PROGRAMME

    Expenses $187,697

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mr Basil P Goulandris

    CHAIR

    Total calculated
    $0
    Hours/week
    7

  • Mrs Sarah A Farrington

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    7

  • Mrs Judith A Whitehead

    PRESIDENT

    Total calculated
    $0
    Hours/week
    7

  • Mr John T Crone IV

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Lady Camille Barnett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Saskia D'Aguilar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Robin D'Alessandro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Jeffrey A Everett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Ian D Fair

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Mrs Jennifer Flanagan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Philip Hillier

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mrs Nancy Kelly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Matthew Meehan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Susan Sanford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mrs Robin Symonette

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mrs Patricia Thomson Leonard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ms Wendy Warren

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mr E Parker Neave

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Dr Nicola Virgill-Rolle PhD

    EXECUTIVE DIRECTOR

    Total calculated
    $191,336
    From this org
    $0
    From related orgs
    $0
    Other
    $191,336
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $191,336
    Filer's total
    $191,336

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

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee

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.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202543209349301374

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

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