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Nonprofiteer
← KNOTHOLE FOUNDATION INC

Form 990 for tax year 2023

Filed by KNOTHOLE FOUNDATION INC.

Totals

Total revenue
$1,144,364
Total expenses
$923,946
Contributions and grants received
$567,989
Grants paid
$0
Program service revenue
$576,375
Investment income
$0
Other revenue
$0
Total assets, end of year
$6,530,822
Total liabilities, end of year
$2,530,552
Net assets or fund balances, end of year
$4,000,270
Program services expenses (Part IX)
$831,447
Management and general expenses
$58,365
Fundraising expenses
$34,134
Program service expenses (Part III)
$831,447

Program services were 90.0% 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)

    $162,483

  • 1f · All other contributions, gifts and grants

    $405,506

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

    total $473,253 · related or exempt $473,253

  • 2b · Program service revenue: MAINTENANCE REIMBURSEMENT

    total $80,520 · related or exempt $80,520

  • 2c · Program service revenue: SPONSORSHIP INCOME

    total $15,000 · related or exempt $15,000

  • 2d · Program service revenue: CONCESSION INCOME

    total $7,602 · related or exempt $7,602

Functional expenses

Part IX, the statement of functional expenses.

  • 12 · Advertising and promotion

    total $29,623 · fundraising $29,623

  • 13 · Office expenses

    total $4,104 · management and general $4,104

  • 14 · Information technology

    total $18,012 · program services $9,907 · management and general $8,105

  • 20 · Interest

    total $34,090 · program services $34,090

  • 22 · Depreciation, depletion and amortization

    total $268,575 · program services $268,575

  • 23 · Insurance

    total $22,525 · program services $22,525

  • 24a · Other expenses: MAINTENANCE & UTILITIES

    total $359,318 · program services $334,764 · management and general $24,554

  • 24b · Other expenses: EDUCATIONAL PROGRAM EXP

    total $124,961 · program services $124,961

  • 24c · Other expenses: MISCELLANEOUS

    total $29,317 · program services $3,204 · management and general $21,602 · fundraising $4,511

  • 24d · Other expenses: TOURNAMENT EXPENSES

    total $26,156 · program services $26,156

  • 24e · All other expenses

    total $7,265 · program services $7,265

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $138,278 · end of year $179,395

  • 3 · Pledges and grants receivable

    beginning of year $160,000 · end of year $660,000

  • 8 · Inventories for sale or use

    beginning of year $3,000 · end of year $159,784

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

    $6,471,106

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

    $939,463

  • 10c · Land, buildings and equipment, net

    beginning of year $5,417,233 · end of year $5,531,643

  • 17 · Accounts payable and accrued expenses

    end of year $47,643

  • 19 · Deferred revenue

    end of year $1,837,517

  • 23 · Secured mortgages and notes payable

    beginning of year $1,938,659 · end of year $645,392

  • 27 · Net assets without donor restrictions

    beginning of year $3,779,852 · end of year $4,000,270

Mission and programs · 2023

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 2023 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 $415,724 · Revenue $288,188

  • 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. 4TH ANNUAL HBCU CAMP/SHOWCASE; 2ND ANNUAL WESTSIDE STORY SPRING BREAK TOURNAMENT; NATIONAL NIGHT OUT IN PARTNERSHIP WITH CMPD; BACK TO SCHOOL EVENT FOR OVER 200 STUDENTS). EDUCATION CONTINUED TO BE IMBEDDED IN THE FABRIC OF BASEBALL-THEMED ACTIVITIES (AS MEASURED BY BOOKS DISTRIBUTE; OF READING HOURS; % PLAYERS ENGAGED IN READING). AFFORDABLE ACCESS CONTINUED TO BE AN AREA OF FOCUS WITH OVER 90% OF COSTS SUBSIDIZED FOR PLAYER PARTICIPATION ON TEAMS AND COST PER PARTICIPANT HOUR DRIVEN LOWER.

    Expenses $415,723 · Revenue $288,187

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Morris Madden

    SECRETARY

    Total calculated
    $40,000
    From this org
    $0
    From related orgs
    $40,000
    Other
    $0
    Hours/week
    15 + 35 related

  • Alan Barnes

    TREASURER

    Total calculated
    $0
    Hours/week
    20 + 10 related

  • Tashia Coe

    EXECUTIVE CO

    Total calculated
    $0
    Hours/week
    2

  • Tj Lewis

    EXECUTIVE CO

    Total calculated
    $0
    Hours/week
    2

  • Jeff Schaeffer

    OFFICER

    Total calculated
    $0
    Hours/week
    20 + 10 related

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
2023
Filed
3 June 2024
IRS schema version
2023v5.0
Source object
202411729349301311

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