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Nonprofiteer
← CLOVER FOUNDATION INC

Form 990 for tax year 2023

Filed by CLOVER FOUNDATION INC.

Totals

Total revenue
$83,261
Total expenses
$158,002
Contributions and grants received
$13,474
Grants paid
$0
Program service revenue
$0
Investment income
$69,787
Other revenue
$0
Total assets, end of year
$2,873,831
Total liabilities, end of year
$1,482,716
Net assets or fund balances, end of year
$1,391,115
Program services expenses (Part IX)
$0
Management and general expenses
$158,002
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 1f · All other contributions, gifts and grants

    $13,474

  • 3 · Investment income

    total $24,096 · excluded $24,096

  • 7a · Gross sales of assets other than inventory

    securities $45,691

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

    securities $0

  • 7c · Gain or loss

    securities $45,691

  • 7d · Net gain or loss

    total $45,691 · excluded $45,691

Functional expenses

Part IX, the statement of functional expenses.

  • 11f · Fees: investment management

    total $13,178 · management and general $13,178

  • 24a · Other expenses: MISC EXPENSES

    total $144,824 · management and general $144,824

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,315 · end of year $132,832

  • 3 · Pledges and grants receivable

    beginning of year $304,143 · end of year $78,462

  • 4 · Accounts receivable

    beginning of year $8,408 · end of year $208

  • 12 · Investments: other securities

    beginning of year $1,586,569 · end of year $2,334,915

  • 15 · Other assets

    beginning of year $252,214 · end of year $327,414

  • 25 · Other liabilities

    beginning of year $888,529 · end of year $1,482,716

  • 27 · Net assets without donor restrictions

    beginning of year $1,274,120 · end of year $1,391,115

Mission and programs · 2023

Mission

THE FOUNDATION SERVES AS THE SUPPORTING ORGANIZATION TO CLOVER NOLA, INC., A LOUISIANA NON-PROFIT CORPORATION. THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES.

  • THE CLOVER FOUNDATION SERVES AS THE SUPPORTING ORGANIZATION OF CLOVER NOLA, INC. THE CLOVER FOUNDATION WAS ESTABLISHED TO SUPPORT FUTURE PROGRAMMATIC GROWTH AND ENCOURAGE INNOVATION OF COLVER NOLA AS WELL AS PROVIDE SECURITY FOR UNANTICIPATED EVENTS.

As filed on the 2023 return.

Listed in Part VII

  • SHELDON F SKIP BRECHTEL

    IMMEDIATE PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • KATHERINE GELDERMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • MARGARET MONTGOMERY-RICHARD

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • KIT FRITCHIE

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25

  • BILL HAMMACK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • CHIMENE GRANT SALOY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 2 related

  • MILES CHANNING THOMAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 1 related

  • SHELDON LYKES

    TREASURER

    Total calculated
    $0
    Hours/week
    0.25

  • LYNN SMALLPAGE MORGAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • KEITH H LIEDERMAN

    DIRECTOR/CEO

    Total calculated
    $247,693
    From this org
    $0
    From related orgs
    $238,995
    Other
    $8,698
    Hours/week
    0.25 + 41 related

    Schedule J breakdown matched by us

    Base
    $0 + $238,995 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $8,698 related
    Filer's total
    $0 + $247,693 related

  • MADLYN BAGNERIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • RICHARD DICKIE BRENNAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • RYAN GOOTEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • BRENDAN GREENE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • RICHARD ROTH III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 1 related

  • SANDRA A COLVIN

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $157,354
    From this org
    $0
    From related orgs
    $154,804
    Other
    $2,550
    Hours/week
    0.25 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $154,804 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $2,550 related
    Filer's total
    $0 + $157,354 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. 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 · Compensation survey or study
  • 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

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
12 May 2025
IRS schema version
2023v6.0
Source object
202511349349304926

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