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← JACOB AND CLARA FABER COMMUNITY ENRICHMENT AND EDUCATION FOUNNDATI

Form 990 for tax year 2023

Filed by JACOB AND CLARA FABER COMMUNITY ENRICHMENT AND EDUCATION FOUNNDATI.

Totals

Total revenue
$307,802
Total expenses
$471,563
Contributions and grants received
$50,000
Grants paid
$13,000
Program service revenue
$105,412
Investment income
$152,390
Other revenue
$0
Total assets, end of year
$6,578,118
Total liabilities, end of year
$1,686,561
Net assets or fund balances, end of year
$4,891,557
Program services expenses (Part IX)
$368,761
Management and general expenses
$102,802
Fundraising expenses
$0
Program service expenses (Part III)
$368,761

Program services were 78.2% 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

    $50,000

  • 2a · Program service revenue: PROGRAM INCOME

    total $105,412 · related or exempt $105,412

  • 3 · Investment income

    total $122,325 · excluded $122,325

  • 7a · Gross sales of assets other than inventory

    securities $669,750 · other assets $39,500

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

    securities $666,849 · other assets $12,336

  • 7c · Gain or loss

    securities $2,901 · other assets $27,164

  • 7d · Net gain or loss

    total $30,065 · related or exempt $27,164 · excluded $2,901

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $13,000 · program services $13,000

  • 5 · Compensation of officers, directors and key employees

    total $123,567 · program services $80,319 · management and general $43,248

  • 9 · Other employee benefits

    total $9,369 · program services $6,090 · management and general $3,279

  • 10 · Payroll taxes

    total $6,034 · program services $3,922 · management and general $2,112

  • 11b · Fees: legal

    total $2,600 · management and general $2,600

  • 11c · Fees: accounting

    total $9,471 · management and general $9,471

  • 11f · Fees: investment management

    total $16,108 · management and general $16,108

  • 13 · Office expenses

    total $27 · program services $18 · management and general $9

  • 16 · Occupancy

    total $27,531 · program services $26,705 · management and general $826

  • 20 · Interest

    total $57,124 · program services $55,410 · management and general $1,714

  • 22 · Depreciation, depletion and amortization

    total $136,534 · program services $116,054 · management and general $20,480

  • 23 · Insurance

    total $3,145 · program services $3,051 · management and general $94

  • 24a · Other expenses: PROGRAM SUPPLIES

    total $58,123 · program services $58,123

  • 24b · Other expenses: AUTOMOBILE EXPENSES

    total $3,879 · program services $2,521 · management and general $1,358

  • 24c · Other expenses: TELEPHONE

    total $2,763 · program services $1,796 · management and general $967

  • 24d · Other expenses: MISCELLANEOUS

    total $1,462 · program services $951 · management and general $511

  • 24e · All other expenses

    total $826 · program services $801 · management and general $25

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $95,393 · end of year $80,259

  • 4 · Accounts receivable

    beginning of year $2,088 · end of year $5,814

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,333 · end of year $41,235

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

    $3,852,072

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

    $1,803,143

  • 10c · Land, buildings and equipment, net

    beginning of year $2,371,676 · end of year $2,048,929

  • 11 · Investments: publicly traded securities

    beginning of year $4,194,049 · end of year $4,398,881

  • 15 · Other assets

    beginning of year $3,000 · end of year $3,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,162 · end of year $5,472

  • 24 · Unsecured notes and loans payable

    beginning of year $1,960,113 · end of year $1,681,089

  • 27 · Net assets without donor restrictions

    beginning of year $4,713,264 · end of year $4,891,557

Mission and programs · 2023

Mission

TO FOSTER AND TEACH AUTO COLLISION REPAIR AND REFINISHING TO JUNIOR AND SENIOR STUDENTS OF THE SIX DISTRICT COMPACT COMMUNITY (WOODRIDGE, CUYAHOGA FALLS, STOW, HUDSON, TALLMADGE AND KENT ROOSEVELT).

  • TWO YEAR PROGRAM RELATED TO FOSTERING AND TEACHING AUTO COLLISION REPAIR AND REFINISHING TO JUNIOR AND SENIOR STUDENTS OF THE SIX DISTRICT COMPACT COMMUNITY (WOODRIDGE, CUYAHOGA FALLS, STOW, HUDSON, TALLMADGE AND KENT ROOSEVELT).

    Expenses $355,761 · Revenue $132,576

  • THE FOUNDATION PROVIDES CASH GRANTS TO THE CATHOLIC CHARITIES DIOCESE OF CLEVELAND TO ASSIST IN FUNDING ITS PROGRAMS. THESE ACTIVITIES FURTHER THE FOUNDATION'S PURPOSE OF PROVIDING FUNDS TO ITS SUPPORTED ORGANIZATIONS FOR CHARITABLE PURPOSES.

    Expenses $13,000 · Grants $13,000

As filed on the 2023 return.

Listed in Part VII

  • Guy F Klapp III

    PRESIDENT &

    Total calculated
    $123,567
    From this org
    $76,818
    From related orgs
    $0
    Other
    $46,749
    Hours/week
    45

  • Gail Angeletti

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • N'Ecole Ast

    VICE PRESIDE

    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

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
2023
Filed
13 August 2024
IRS schema version
2023v5.0
Source object
202412439349300506

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