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Nonprofiteer
← FORE KIDS FOUNDATION INC

Form 990 for tax year 2022

Filed by FORE KIDS FOUNDATION INC.

Totals

Total revenue
$17,405,479
Total expenses
$16,415,798
Contributions and grants received
$1,050,723
Grants paid
$2,423,600
Program service revenue
$15,999,973
Investment income
$227,604
Other revenue
$127,179
Total assets, end of year
$12,545,664
Total liabilities, end of year
$4,831,265
Net assets or fund balances, end of year
$7,714,399
Program services expenses (Part IX)
$15,931,586
Management and general expenses
$484,212
Fundraising expenses
$0
Program service expenses (Part III)
$15,931,586

Program services were 97.1% 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.

  • 1e · Government grants (contributions)

    $511,623

  • 1f · All other contributions, gifts and grants

    $539,100

  • 2a · Program service revenue: TOURNAMENT

    total $15,874,681 · related or exempt $15,874,681

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $125,292 · related or exempt $125,292

  • 3 · Investment income

    total $155,700 · excluded $155,700

  • 7a · Gross sales of assets other than inventory

    securities $71,904

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

    securities $0

  • 7c · Gain or loss

    securities $71,904

  • 7d · Net gain or loss

    total $71,904 · excluded $71,904

  • 8a · Fundraising events: gross income

    $127,696

  • 8b · Fundraising events: direct expenses

    $43,412

  • 8c · Net income from fundraising events

    total $84,284 · excluded $84,284

  • 9a · Gaming: gross income

    $44,300

  • 9b · Gaming: direct expenses

    $16,404

  • 9c · Net income from gaming

    total $27,896 · excluded $27,896

  • 11a · Other revenue: OTHER

    total $14,999 · related or exempt $14,999

  • 11e · Other revenue, total

    $14,999

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,423,600 · program services $2,423,600

  • 5 · Compensation of officers, directors and key employees

    total $558,000 · program services $378,000 · management and general $180,000

  • 7 · Other salaries and wages

    total $384,874 · program services $307,228 · management and general $77,646

  • 8 · Pension plan contributions

    total $40,147 · program services $32,048 · management and general $8,099

  • 9 · Other employee benefits

    total $148,687 · program services $118,690 · management and general $29,997

  • 10 · Payroll taxes

    total $45,714 · program services $36,491 · management and general $9,223

  • 11c · Fees: accounting

    total $27,083 · program services $27,083

  • 12 · Advertising and promotion

    total $200,511 · program services $200,511

  • 13 · Office expenses

    total $71,543 · management and general $71,543

  • 17 · Travel

    total $9,281 · program services $9,281

  • 23 · Insurance

    total $107,942 · program services $75,251 · management and general $32,691

  • 24a · Other expenses: PRIZES TO PROFESSIONAL

    total $8,600,000 · program services $8,600,000

  • 24b · Other expenses: EQUIPMENT/TOURAMENT WEE

    total $2,212,902 · program services $2,212,902

  • 24c · Other expenses: TENT/VENUE EXPENSE

    total $1,408,871 · program services $1,408,871

  • 24d · Other expenses: CYPRESS SUITES

    total $101,630 · program services $101,630

  • 24e · All other expenses

    total $75,013 · management and general $75,013

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $888,112 · end of year $771,386

  • 2 · Savings and temporary cash investments

    beginning of year $5,075,359 · end of year $5,247,847

  • 4 · Accounts receivable

    beginning of year $689,705 · end of year $1,199,554

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,440 · end of year $0

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

    $941,135

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

    $941,135

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $4,466,765 · end of year $5,326,877

  • 17 · Accounts payable and accrued expenses

    beginning of year $523,522 · end of year $413,548

  • 18 · Grants payable

    beginning of year $1,750,472 · end of year $1,810,972

  • 19 · Deferred revenue

    beginning of year $2,550,925 · end of year $2,606,745

  • 27 · Net assets without donor restrictions

    beginning of year $6,303,462 · end of year $7,714,399

Mission and programs · 2022

Mission

THE PRIMARY PURPOSE OF THE FOUNDATION IS THE PROMOTION OF SOCIAL WELFARE FOR THE COMMUNITY OF NEW ORLEANS BY PROMOTING, MANAGING, AND SPONSORING AN ANNUAL PGA TOUR GOLF TOURNAMENT.

  • NET PROCEEDS FROM GOLF TOURNAMENT CONTRIBUTED TO OTHER 501(C)(3) ORGANIZATIONS, FOR MORE INFORMATION SEE SCHEDULE I - GRANTS AND OTHER ASSISTANCE TO ORGANIZATION

    Expenses $15,931,586 · Grants $2,423,600 · Revenue $15,999,973

As filed on the 2022 return.

Listed in Part VII

  • Kevin Colomb

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brian Cheramine

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • Charles Rice

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chav Pierce

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Darrah Schaefer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Perlis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Garner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eddie Boettner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gordy Rush

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jerry Bologna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Barranco

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Romig

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Peggy Coleman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Ballard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melvin Rodrigue

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Philip Garrett Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chris Kenyon

    VP OF SALES & MARKETING

    Total calculated
    $209,887
    From this org
    $180,000
    From related orgs
    $0
    Other
    $29,887
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,000
    Bonus
    $40,000
    Other
    $0
    Deferred
    $7,200
    Nontaxable benefits
    $22,687
    Filer's total
    $209,887

  • Steve Worthy

    CEO

    Total calculated
    $452,903
    From this org
    $378,000
    From related orgs
    $0
    Other
    $74,903
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $300,000
    Bonus
    $78,000
    Other
    $0
    Deferred
    $13,200
    Nontaxable benefits
    $61,703
    Filer's total
    $452,903

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
2022
Filed
26 March 2024
IRS schema version
2022v5.0
Source object
202400879349301555

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

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