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Nonprofiteer
← LOVELAND FOUNDATION INC

Form 990 for tax year 2023

Filed by LOVELAND FOUNDATION INC.

Totals

Total revenue
$4,978,494
Total expenses
$5,049,042
Contributions and grants received
$4,207,627
Grants paid
$0
Program service revenue
$0
Investment income
$770,867
Other revenue
$0
Total assets, end of year
$23,993,558
Total liabilities, end of year
$165,011
Net assets or fund balances, end of year
$23,828,547
Program services expenses (Part IX)
$3,949,345
Management and general expenses
$957,008
Fundraising expenses
$142,689
Program service expenses (Part III)
$3,949,345

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

    $4,207,627

  • 3 · Investment income

    total $770,867 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $370,000 · program services $270,000 · management and general $50,000 · fundraising $50,000

  • 7 · Other salaries and wages

    total $344,654 · program services $277,415 · management and general $13,936 · fundraising $53,303

  • 9 · Other employee benefits

    total $68,405 · program services $45,702 · management and general $15,934 · fundraising $6,769

  • 10 · Payroll taxes

    total $59,675 · program services $39,869 · management and general $13,900 · fundraising $5,906

  • 11b · Fees: legal

    total $35,893 · program services $0 · management and general $35,893 · fundraising $0

  • 11c · Fees: accounting

    total $264,000 · program services $0 · management and general $264,000 · fundraising $0

  • 11g · Fees: other

    total $388,834 · program services $70,267 · management and general $318,567 · fundraising $0

  • 12 · Advertising and promotion

    total $105 · program services $0 · management and general $105 · fundraising $0

  • 13 · Office expenses

    total $35,474 · program services $1,670 · management and general $33,804 · fundraising $0

  • 16 · Occupancy

    total $33,424 · program services $0 · management and general $33,424 · fundraising $0

  • 17 · Travel

    total $124,187 · program services $41,458 · management and general $82,729 · fundraising $0

  • 23 · Insurance

    total $2,026 · program services $0 · management and general $2,026 · fundraising $0

  • 24a · Other expenses: THERAPISTS

    total $3,077,872 · program services $3,077,872 · management and general $0 · fundraising $0

  • 24b · Other expenses: BANK CHARGES AND FEES

    total $67,440 · program services $7,936 · management and general $32,793 · fundraising $26,711

  • 24c · Other expenses: PAYROLL PROCESSING FEES

    total $3,096 · program services $0 · management and general $3,096 · fundraising $0

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $21,041 · program services $0 · management and general $21,041 · fundraising $0

  • 24e · All other expenses

    total $152,916 · program services $117,156 · management and general $35,760 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $8,185,524 · end of year $6,274,101

  • 3 · Pledges and grants receivable

    beginning of year $449,130 · end of year $422,537

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,200 · end of year $35,481

  • 11 · Investments: publicly traded securities

    beginning of year $15,287,174 · end of year $16,069,999

  • 15 · Other assets

    beginning of year $80,441 · end of year $1,191,440

  • 17 · Accounts payable and accrued expenses

    beginning of year $124,755 · end of year $165,011

  • 27 · Net assets without donor restrictions

    beginning of year $22,121,715 · end of year $23,406,010

  • 28 · Net assets with donor restrictions

    beginning of year $1,765,999 · end of year $422,537

Mission and programs · 2023

Mission

MISSION STATEMENT The Loveland Foundation Inc. was formed for the purpose of showing up for communities of color in unique and powerful ways, with a particular focus on Black women and girls.

  • THERAPY FUND LOVELAND THERAPY FUND RECIPIENTS WILL HAVE ACCESS TO COMPREHENSIVE LISTS OF MENTAL HEALTH PROFESSIONALS ACROSS THE COUNTRY PROVIDING HIGH QUALITY, CULTURALLY COMPETENT SERVICES TO BLACK WOMEN AND GIRLS.

    Expenses $3,949,345

As filed on the 2023 return.

Listed in Part VII

  • Rachle Cargle

    PRESIDENT

    Total calculated
    $120,000
    From this org
    $120,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Joe Davis IV

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Donita Volkwijn

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Sharlene Kemler

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $250,000
    From this org
    $250,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $250,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $250,000

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

None.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
1 November 2024
IRS schema version
2023v5.1
Source object
202443209349324539

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