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Nonprofiteer
← GREATER LYNCHBURG COMMUNITY FOUNDATION

Form 990 for tax year 2022

Filed by GREATER LYNCHBURG COMMUNITY FOUNDATION.

Totals

Total revenue
$6,007,630
Total expenses
$2,917,216
Contributions and grants received
$3,841,171
Grants paid
$2,150,147
Program service revenue
$60,966
Investment income
$2,094,660
Other revenue
$10,833
Total assets, end of year
$60,177,320
Total liabilities, end of year
$8,580,071
Net assets or fund balances, end of year
$51,597,249
Program services expenses (Part IX)
$2,623,894
Management and general expenses
$187,111
Fundraising expenses
$106,211
Program service expenses (Part III)
$2,623,894

Program services were 89.9% 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

    $3,841,171

  • 1g · Noncash contributions included above

    $4,600

  • 2a · Program service revenue: OPERATING FEE INCOME

    total $60,966 · excluded $60,966

  • 3 · Investment income

    total $1,381,879 · excluded $1,381,879

  • 7a · Gross sales of assets other than inventory

    securities $19,209,839

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

    securities $18,497,058

  • 7c · Gain or loss

    securities $712,781

  • 7d · Net gain or loss

    total $712,781 · excluded $712,781

  • 8a · Fundraising events: gross income

    $32,276

  • 8b · Fundraising events: direct expenses

    $21,443

  • 8c · Net income from fundraising events

    total $10,833 · excluded $10,833

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,036,622 · program services $2,036,622

  • 2 · Grants to domestic individuals

    total $113,525 · program services $113,525

  • 5 · Compensation of officers, directors and key employees

    total $115,955 · program services $46,382 · management and general $23,191 · fundraising $46,382

  • 6 · Compensation of disqualified persons

    total $133,215 · program services $53,286 · management and general $53,286 · fundraising $26,643

  • 8 · Pension plan contributions

    total $5,624 · program services $2,250 · management and general $2,250 · fundraising $1,124

  • 10 · Payroll taxes

    total $19,207 · program services $7,683 · management and general $3,841 · fundraising $7,683

  • 11b · Fees: legal

    total $5,670 · management and general $5,670

  • 11c · Fees: accounting

    total $8,800 · management and general $8,800

  • 11f · Fees: investment management

    total $285,608 · program services $285,608

  • 11g · Fees: other

    total $55,049 · program services $46,452 · management and general $8,597

  • 13 · Office expenses

    total $25,618 · program services $4,811 · management and general $15,537 · fundraising $5,270

  • 14 · Information technology

    total $34,430 · program services $13,772 · management and general $13,772 · fundraising $6,886

  • 16 · Occupancy

    total $21,692 · management and general $21,692

  • 17 · Travel

    total $1,059 · management and general $1,059

  • 19 · Conferences, conventions and meetings

    total $3,348 · management and general $3,348

  • 22 · Depreciation, depletion and amortization

    total $1,541 · management and general $1,541

  • 23 · Insurance

    total $5,047 · management and general $5,047

  • 24a · Other expenses: SHARE EXPENSES

    total $27,006 · program services $13,503 · management and general $13,503

  • 24b · Other expenses: DEVELOPMENT

    total $12,223 · fundraising $12,223

  • 24c · Other expenses: DUES

    total $5,977 · management and general $5,977

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $868,950 · end of year $856,158

  • 2 · Savings and temporary cash investments

    beginning of year $5,168,240 · end of year $5,669,693

  • 3 · Pledges and grants receivable

    beginning of year $216,343 · end of year $215,353

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,424 · end of year $12,779

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

    $49,953

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

    $46,681

  • 10c · Land, buildings and equipment, net

    beginning of year $4,813 · end of year $3,272

  • 11 · Investments: publicly traded securities

    beginning of year $47,438,229 · end of year $53,294,361

  • 15 · Other assets

    beginning of year $46,299 · end of year $125,704

  • 17 · Accounts payable and accrued expenses

    beginning of year $46,077 · end of year $32,455

  • 18 · Grants payable

    beginning of year $949,393 · end of year $898,113

  • 25 · Other liabilities

    beginning of year $6,956,352 · end of year $7,649,503

  • 27 · Net assets without donor restrictions

    beginning of year $7,146,776 · end of year $7,954,812

  • 28 · Net assets with donor restrictions

    beginning of year $38,659,700 · end of year $43,642,437

Mission and programs · 2022

Mission

THE PRINCIPAL MISSION OF THE FOUNDATION IS TO ENHANCE THE QUALITY OF LIFE IN THE COMMUNITIES SERVED BY THE ESTABLISHMENT OF PERMANENT ENDOWMENTS FOR THE CITY OF LYNCHBURG AND THE COUNTIES OF AMHERST, APPOMATTOX, BEDFORD AND CAMPBELL, WITH INCOME DISTRIBUTED ANNUALLY TO CHARITABLE ORGANIZATIONS WITHIN THE COMMUNITY.

Activities or mission (Part I)

DISTRIBUTE CONTRIBUTED FUNDS TO NON-PROFIT ORGANIZATIONS.

  • GRANTS ARE MADE TO 501(C)(3) ORGANIZATIONS FROM DONOR-ADVISED, DESIGNATED, FIELD OF INTEREST, SCHOLARSHIP, AND UNRESTRICTED ENDOWMENT FUNDS. THE FOUNDATION HAS FINAL APPROVAL OF ALL GRANTS.

    Expenses $2,510,369 · Grants $2,036,622

  • SCHOLARSHIPS TO INDIVIDUALS ARE MADE BASED ON AN APPROVED PROCESS INVOLVING SCHOLARSHIP COMMITTEES. THERE WERE 72 SCHOLARSHIPS AWARDED IN FY 23.

    Expenses $113,525 · Grants $113,525

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ms Susan G Ackley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr G Carl Boggess

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Jennifer Bryant-Foster

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Regina W Carter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Janice M Marston

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Mr Linzie B Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Karen S Simonton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Christina Delzingaro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Eric J Sorenson Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr John M Stone

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Mr Shawn D Stone

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Verna Sellers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Roger Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Sarah Houck

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr John Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Kathryn C Yarzebinski

    PRESIDENT/CEO

    Total calculated
    $65,680
    From this org
    $64,167
    From related orgs
    $0
    Other
    $1,513
    Hours/week
    40

  • Cheryl Hall

    SECRETARY

    Total calculated
    $62,578
    From this org
    $60,825
    From related orgs
    $0
    Other
    $1,753
    Hours/week
    40

  • Mr William Bodine

    PRESIDENT/CEO

    Total calculated
    $68,710
    From this org
    $66,910
    From related orgs
    $0
    Other
    $1,800
    Hours/week
    40

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.

  • GLCT INC

    501(C)(3) · TO RECEIVE AND ACCEPT PROPERTY TO BE ADMINISTERED EXCLUSIVELY · VA

    Directly controlled by GREATER LYNCHBURG COMMUNITY FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
14 December 2023
IRS schema version
2022v5.0
Source object
202313529349300856

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