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← COMMUNITY FOUNDATION OF SOUTH LAKE COUNTY INC

Form 990 for tax year 2023

Filed by COMMUNITY FOUNDATION OF SOUTH LAKE COUNTY INC.

Totals

Total revenue
$978,006
Total expenses
$3,670,145
Contributions and grants received
$300,714
Grants paid
$2,987,768
Program service revenue
$0
Investment income
$558,068
Other revenue
$119,224
Total assets, end of year
$19,142,546
Total liabilities, end of year
$944,525
Net assets or fund balances, end of year
$18,198,021
Program services expenses (Part IX)
$3,586,822
Management and general expenses
$61,854
Fundraising expenses
$21,469
Program service expenses (Part III)
$3,586,822

Program services were 97.7% 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

    $300,714

  • 1g · Noncash contributions included above

    $1,500

  • 3 · Investment income

    total $558,068 · related or exempt $558,068

  • 6a · Gross rents

    real property $9,536

  • 6c · Rental income or loss

    real property $9,536

  • 6d · Net rental income or loss

    total $9,536 · related or exempt $9,536

  • 8a · Fundraising events: gross income

    $11,196

  • 8b · Fundraising events: direct expenses

    $15,446

  • 8c · Net income from fundraising events

    total -$4,250 · excluded -$4,250

  • 11a · Other revenue: Other Income

    total $113,938 · related or exempt $113,938

  • 11e · Other revenue, total

    $113,938

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,987,768 · program services $2,987,768

  • 7 · Other salaries and wages

    total $189,502 · program services $159,182 · management and general $20,845 · fundraising $9,475

  • 10 · Payroll taxes

    total $15,131 · program services $12,710 · management and general $1,664 · fundraising $757

  • 11f · Fees: investment management

    total $185,074 · program services $164,716 · management and general $20,358

  • 11g · Fees: other

    total $71,928 · program services $60,420 · management and general $7,912 · fundraising $3,596

  • 12 · Advertising and promotion

    total $4,779 · program services $4,014 · management and general $526 · fundraising $239

  • 13 · Office expenses

    total $13,510 · program services $11,348 · management and general $1,486 · fundraising $676

  • 16 · Occupancy

    total $15,416 · program services $12,949 · management and general $1,696 · fundraising $771

  • 17 · Travel

    total $713 · program services $599 · management and general $78 · fundraising $36

  • 22 · Depreciation, depletion and amortization

    total $22,297 · program services $18,397 · management and general $2,681 · fundraising $1,219

  • 23 · Insurance

    total $15,984 · program services $13,427 · management and general $1,758 · fundraising $799

  • 24a · Other expenses: Utilities

    total $11,703 · program services $9,831 · management and general $1,287 · fundraising $585

  • 24b · Other expenses: Board and Staff Development

    total $5,603 · program services $4,707 · management and general $280 · fundraising $616

  • 24c · Other expenses: Scholarships

    total $105,791 · program services $105,791

  • 24e · All other expenses

    total $24,946 · program services $20,963 · management and general $1,283 · fundraising $2,700

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $222,207 · end of year $85,328

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

    $1,495,117

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

    $401,890

  • 10c · Land, buildings and equipment, net

    beginning of year $1,115,127 · end of year $1,093,227

  • 11 · Investments: publicly traded securities

    beginning of year $17,068,624 · end of year $17,818,734

  • 15 · Other assets

    beginning of year $225,396 · end of year $145,257

  • 17 · Accounts payable and accrued expenses

    beginning of year $118,108 · end of year $51,566

  • 25 · Other liabilities

    beginning of year $733,538 · end of year $892,959

  • 27 · Net assets without donor restrictions

    beginning of year $1,666,014 · end of year $1,817,443

  • 28 · Net assets with donor restrictions

    beginning of year $16,113,694 · end of year $16,380,578

Mission and programs · 2023

Mission

The Foundations purpose is to enhance the lives of the residents of South Lake County now and for future generations by working together with our donors to build resources, address needs, and collaborate on key community issues and initiatives.

  • The Foundation stewards charitable funds for individuals, families, business, and organization to help them address community issues that impact them. Additionally, the Foundation provides support to local nonprofit organizations to meet recognized standards in their field.

    Expenses $2,987,767

  • The Foundation gives grants to eligible nonprofits for a variety of charitable purpose. The Foundations purpose is to enhance the lives of the residents of South Lake County now and for future generations to come by working together with our donors to build resources address needs and collaborate on key community issues and initiatives.

    Expenses $493,264

  • Need and merit-based scholarships/grants are provided to schools and institutions to aid students in pursuing higher learning, continuing education, and career readiness.

    Expenses $105,791

As filed on the 2023 return.

Listed in Part VII

  • Doneth Rose

    Director

    Total calculated
    $0
    Hours/week
    2

  • Donald Keene

    Director

    Total calculated
    $0
    Hours/week
    1

  • Heather Theis

    Director

    Total calculated
    $0
    Hours/week
    1

  • Erica Cole

    Director

    Total calculated
    $0
    Hours/week
    1

  • Pat Carraciolo

    Director

    Total calculated
    $0
    Hours/week
    1

  • Lance Sewell

    Director

    Total calculated
    $0
    Hours/week
    1

  • Paula Hosington

    Vice President

    Total calculated
    $0
    Hours/week
    2

  • Michael Spartz

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Mike Bucher

    Immediate Past President

    Total calculated
    $0
    Hours/week
    2

  • Laura Michalski

    Executive Director

    Total calculated
    $0
    Hours/week
    40

  • Sandy Simmonds

    President

    Total calculated
    $0
    Hours/week
    2

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

  • Montgomery Center for Excellence

    $240,000

  • Samaritans Purse

    $80,000

  • The Neighborhood Center

    $62,520

  • National MS Society

    $57,686

  • Family Matters of Central Florida

    $25,000

    Community Support

  • Verticle Church

    $24,000

  • Thrive Clermont

    $21,000

  • Stucky Improvement Group

    $20,000

  • New Beginnings of Central Florida

    $14,500

    Community Support

  • Reasins for Hope

    $10,000

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
7 July 2025
IRS schema version
2023v6.0
Source object
202532139349300703

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