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Nonprofiteer
← KOVAR CORPORATION

Form 990 for tax year 2023

Filed by KOVAR CORPORATION.

Totals

Total revenue
$724,185
Total expenses
$800,536
Contributions and grants received
$622,660
Grants paid
$552,804
Program service revenue
$38,429
Investment income
$61,923
Other revenue
$1,173
Total assets, end of year
$2,711,440
Total liabilities, end of year
$76,722
Net assets or fund balances, end of year
$2,634,718
Program services expenses (Part IX)
$741,959
Management and general expenses
$24,275
Fundraising expenses
$34,302
Program service expenses (Part III)
$741,959

Program services were 92.7% 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

    $64,795

  • 1c · Fundraising events

    $440,774

  • 1e · Government grants (contributions)

    $6,000

  • 1f · All other contributions, gifts and grants

    $111,091

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

    total $38,429 · related or exempt $38,429

  • 3 · Investment income

    total $61,923 · excluded $61,923

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

    $440,774

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

    total $1,173 · related or exempt $1,173

  • 11e · Other revenue, total

    $1,173

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $552,804 · program services $552,804

  • 11c · Fees: accounting

    total $17,600 · program services $3,000 · management and general $11,600 · fundraising $3,000

  • 11e · Fees: professional fundraising services

    total $10,916 · fundraising $10,916

  • 11g · Fees: other

    total $17,000 · program services $5,000 · management and general $6,000 · fundraising $6,000

  • 13 · Office expenses

    total $6,932 · fundraising $6,932

  • 23 · Insurance

    total $6,285 · management and general $5,785 · fundraising $500

  • 24a · Other expenses: DISCOUNT ON NOTES RECV

    total $179,186 · program services $179,186

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

    total $7,542 · program services $1,908 · fundraising $5,634

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

    total $2,271 · program services $61 · management and general $890 · fundraising $1,320

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,443,845 · end of year $1,094,413

  • 3 · Pledges and grants receivable

    beginning of year $23,543 · end of year $8,612

  • 7 · Other notes and loans receivable

    beginning of year $1,218,007 · end of year $1,454,552

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,257 · end of year $4,521

  • 12 · Investments: other securities

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

  • 15 · Other assets

    beginning of year $28,070 · end of year $29,342

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,643

  • 18 · Grants payable

    beginning of year $121,509 · end of year $76,722

  • 27 · Net assets without donor restrictions

    beginning of year $2,710,570 · end of year $2,584,718

  • 28 · Net assets with donor restrictions

    end of year $50,000

Mission and programs · 2023

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 $741,959 · Grants $552,804 · Revenue $38,429

As filed on the 2023 return.

Listed in Part VII

  • Edward S Whitlock III

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Rick Witty

    VP - AUDITS

    Total calculated
    $0
    Hours/week
    5

  • Vance F Stewart III

    VP - FINANCE

    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

  • Michael Szablak

    VP - HOME LO

    Total calculated
    $0
    Hours/week
    5

  • Jay Hoffmeier

    VP - INFO TE

    Total calculated
    $0
    Hours/week
    4

  • Brian Ripple

    TREASURER

    Total calculated
    $0
    Hours/week
    7

  • G Michael Carducci

    SECRETARY

    Total calculated
    $0
    Hours/week
    4

  • John Cochran

    MEMBER

    Total calculated
    $0
    Hours/week
    3

  • J Charles Curran

    MEMBER

    Total calculated
    $0
    Hours/week
    3

  • 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

  • Timothy Minnich

    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
2023
Filed
25 November 2024
IRS schema version
2023v5.0
Source object
202433319349300233

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