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← FINANCE OF AMERICA CARES

Form 990 for tax year 2023

Filed by FINANCE OF AMERICA CARES.

Totals

Total revenue
$552,399
Total expenses
$433,538
Contributions and grants received
$552,200
Grants paid
$401,861
Program service revenue
$0
Investment income
$16
Other revenue
$183
Total assets, end of year
$595,500
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$595,500
Program services expenses (Part IX)
$407,544
Management and general expenses
$22,267
Fundraising expenses
$3,727
Program service expenses (Part III)
$407,544

Program services were 94.0% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $552,200

  • 1g · Noncash contributions included above

    $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $16 · related or exempt $0 · unrelated business $0 · excluded $16

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

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

    $0

  • 11d · All other revenue

    total $183 · related or exempt $183 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $183

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $321,317 · program services $321,317

  • 2 · Grants to domestic individuals

    total $9,934 · program services $9,934

  • 3 · Grants to foreign organizations and individuals

    total $70,610 · program services $70,610

  • 11c · Fees: accounting

    total $10,506 · management and general $10,506

  • 13 · Office expenses

    total $9,726 · program services $5,683 · management and general $316 · fundraising $3,727

  • 14 · Information technology

    total $8,417 · management and general $8,417

  • 17 · Travel

    total $1,749 · management and general $1,749

  • 23 · Insurance

    total $1,279 · management and general $1,279

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $433,319 · end of year $553,303

  • 2 · Savings and temporary cash investments

    beginning of year $40,054 · end of year $40,070

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,266 · end of year $2,127

  • 27 · Net assets without donor restrictions

    beginning of year $476,639 · end of year $384,707

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $210,793

Mission and programs · 2023

Mission

OUR MISSION IS TO STRENGTHEN OUR COMMUNITIES, ENRICH LIVES, AND INSPIRE CARING.

  • COMMUNITY IMPACT GRANTS: BUILDING STRONG COMMUNITIES THROUGH GRANTMAKING TO NONPROFITS IN THE FOLLOWING THREE FOCUS AREAS: 1) VETERANS: SERVING THE EMERGING AND LONG-TERM NEEDS OF OUR NATION'S VETERANS AND THEIR FAMILIES. IN AN EFFORT TO RECOGNIZE THE SACRIFICES THEY AND THEIR LOVED ONES HAVE MADE ON BEHALF OF OUR COUNTRY, WE PROUDLY SUPPORT ACTIVE MILITARY PERSONNEL, VETERANS, AND THEIR FAMILIES ON A LOCAL LEVEL. WE PROVIDE RESOURCES TO NONPROFIT VETERAN'S SERVICE ORGANIZATIONS WHOSE PROGRAMS CONNECT VETERANS AND THEIR FAMILIES FACING HARDSHIPS TO AN ARRAY OF CRITICAL HUMAN SERVICES 2)YOUTH DEVELOPMENT: EMPOWERING OUR YOUTH TO BECOME COMPASSIONATE AND RESPONSIBLE MEMBERS OF SOCIETY. THE FUTURE DRIVERS OF CHANGE FOR THE DEVELOPMENT AND STABILITY OF OUR COUNTRY ARE TODAY'S YOUTH. WE SUPPORT LIFE-ENHANCING PROGRAMS THAT ENGAGE YOUTH WITHIN THEIR COMMUNITIES, SCHOOLS, SOCIAL GROUPS, AND FAMILIES, THAT ARE POSITIVE AND CONSTRUCTIVE TO THE DEVELOPMENT OF THEIR CHARACTER, AND ENABLE ALL YOUNG PEOPLE TO REACH THEIR FULL POTENTIAL. 3) HUMAN SERVICES: ENHANCING ACCESS TO BASIC NEEDS FOR UNDERSERVED INDIVIDUALS AND FAMILIES. HUMAN SERVICES STRIVES TO MEET BASIC HUMAN NEEDS BY FOCUSING ON PREVENTION AS WELL AS REMEDIATION OF PROBLEMS. WE ARE COMMITTED TO IMPROVING THE OVERALL QUALITY OF LIFE FOR INDIVIDUALS AND FAMILIES AT THEIR POINT OF MOST URGENT NEED. TO ACHIEVE THIS, WE ARE ENGAGED IN NUMEROUS INITIATIVES WITH NONPROFITS WHOSE PROGRAMS AND SERVICES WORK TO PREVENT OR END HOMELESSNESS.

    Expenses $383,793 · Grants $378,110 · Revenue $183

  • EMPLOYEE ASSISTANCE FUND: FINANCE OF AMERICA COMPANIES TAKES PRIDE IN ITS STAFF - THEIR ENERGY AND SKILLS ARE KEY IN HELPING TO FULFILL OUR MISSION. WE RECOGNIZE THAT EMPLOYEES' MAY EXPERIENCE HARDSHIPS THAT REQUIRE EMERGENCY FINANCIAL ASSISTANCE. THE FINANCE OF AMERICA CARES EMPLOYEE ASSISTANCE FUND (EAF) IS A PROGRAM DESIGNED TO SUPPORT OUR VALUED STAFF IN TIMES OF UNEXPECTED FINANCIAL HARDSHIP. A MINIMUM OF 25 PERCENT OF ALL EMPLOYEE AND COMPANY CONTRIBUTIONS ARE ALLOCATED TOWARDS OUR EAF.

    Expenses $23,751 · Grants $23,751

As filed on the 2023 return.

Listed in Part VII

  • DREW ROBERTSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2
  • BRITANY LUTH

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5
  • CHAD CRAMER

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5
  • MARSJANA HEIMBUCH

    TREASURER

    Total calculated
    $0
    Hours/week
    5
  • SHERON DINNOO

    VICE PRESIDENT/SECRETARY

    Total calculated
    $0
    Hours/week
    5
  • GAIL LATIMORE

    SECRETARY

    Total calculated
    $0
    Hours/week
    5
  • CHRISTINE VILLANUEVA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2
  • JESSICA RANGINS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2
  • VALERIA ESPARZA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2
  • NIKKITA PHANDA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2
  • LOUANN ROSS

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    40

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

  • INTERNATIONAL DATA POLICY COMMITTEE

    $70,610

    UKRAINE RELIEF EFFORTS.

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.0
Source object
202413139349304346

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