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Nonprofiteer
← KOVAR CORPORATION

Form 990 for tax year 2022

Filed by KOVAR CORPORATION.

Totals

Total revenue
$661,470
Total expenses
$695,067
Contributions and grants received
$602,813
Grants paid
$515,724
Program service revenue
$27,526
Investment income
$29,462
Other revenue
$1,669
Total assets, end of year
$2,839,722
Total liabilities, end of year
$129,152
Net assets or fund balances, end of year
$2,710,570
Program services expenses (Part IX)
$633,325
Management and general expenses
$29,787
Fundraising expenses
$31,955
Program service expenses (Part III)
$633,325

Program services were 91.1% 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.

  • 1a · Federated campaigns

    $13,904

  • 1c · Fundraising events

    $478,635

  • 1e · Government grants (contributions)

    $14,000

  • 1f · All other contributions, gifts and grants

    $96,274

  • 2a · Program service revenue: IMPUTED INTEREST - NOTES RECV

    total $27,526 · related or exempt $27,526

  • 3 · Investment income

    total $28,646 · excluded $28,646

  • 7a · Gross sales of assets other than inventory

    securities $155,031

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

    securities $154,215

  • 7c · Gain or loss

    securities $816

  • 7d · Net gain or loss

    total $816 · related or exempt $816

  • 8a · Fundraising events: contributions included on line 1c

    $478,635

  • 11a · Other revenue: INCREASE IN LIFE INS POLICY

    total $1,669 · related or exempt $1,669

  • 11e · Other revenue, total

    $1,669

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $515,724 · program services $515,724

  • 11c · Fees: accounting

    total $16,900 · management and general $16,900

  • 11e · Fees: professional fundraising services

    total $10,524 · fundraising $10,524

  • 11g · Fees: other

    total $14,000 · management and general $7,000 · fundraising $7,000

  • 13 · Office expenses

    total $5,808 · management and general $194 · fundraising $5,614

  • 23 · Insurance

    total $6,193 · management and general $5,693 · fundraising $500

  • 24a · Other expenses: DISCOUNT ON NOTES RECV

    total $115,410 · program services $115,410

  • 24b · Other expenses: AWARDS, BROCHURES, ETC.

    total $8,200 · program services $1,743 · fundraising $6,457

  • 24c · Other expenses: BANK CHARGES & OTHER EXPS

    total $2,308 · program services $448 · fundraising $1,860

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,522,443 · end of year $1,443,845

  • 3 · Pledges and grants receivable

    beginning of year $11,232 · end of year $23,543

  • 7 · Other notes and loans receivable

    beginning of year $975,272 · end of year $1,218,007

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,170 · end of year $6,257

  • 11 · Investments: publicly traded securities

    beginning of year $156,174

  • 12 · Investments: other securities

    beginning of year $120,000 · end of year $120,000

  • 15 · Other assets

    beginning of year $22,895 · end of year $28,070

  • 17 · Accounts payable and accrued expenses

    end of year $7,643

  • 18 · Grants payable

    beginning of year $63,481 · end of year $121,509

  • 27 · Net assets without donor restrictions

    beginning of year $2,746,705 · end of year $2,710,570

Mission and programs · 2022

Mission

TO PROVIDE FINANCIAL ASSISTANCE THROUGH GRANTS AND LOANS TO CHARITABLE ORGANIZATIONS THAT PROVIDE TRAINING AND ASSISTANCE TO CITIZENS WITH INTELLECTUAL DISABILITIES IN THE COMMONWEALTH OF VIRGINIA

  • TO PROVIDE FINANCIAL ASSISTANCE THROUGH GRANTS AND LOANS TO CHARITABLE ORGANIZATIONS THAT PROVIDE TRAINING AND ASSISTANCE TO CITIZENS WITH INTELLECTUAL DISABILITIES IN THE COMMONWEALTH OF VIRGINIA.

    Expenses $633,325 · Grants $515,724 · Revenue $27,526

As filed on the 2022 return.

Listed in Part VII

  • John Cochran

    MEMBER

    Total calculated
    $0
    Hours/week
    10

  • Francis Holland

    VP - FUNDRAI

    Total calculated
    $0
    Hours/week
    10

  • Matthew Wheeler

    VP - GRANTS

    Total calculated
    $0
    Hours/week
    5

  • Edward S Whitlock III

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • J Charles Curran

    VP - AUDITS

    Total calculated
    $0
    Hours/week
    5

  • Jay Hoffmeier

    VP - INFO TE

    Total calculated
    $0
    Hours/week
    4

  • Mike Carducci

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • Douglas Blair

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Brian Ripple

    MEMBER

    Total calculated
    $0
    Hours/week
    7

  • Dan Doyle

    MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Kevin Parry

    MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Timothy Shea

    MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Vance F Stewart III

    VP -- FINANC

    Total calculated
    $0
    Hours/week
    10

  • Mike Szablak

    MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Rick Witty

    MEMBER

    Total calculated
    $0
    Hours/week
    3

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.

Provenance

Return type
form_990
Tax year
2022
Filed
4 January 2024
IRS schema version
2022v5.0
Source object
202400169349303125

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

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