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Nonprofiteer
← LIFE RING FOUNDATION

Form 990 for tax year 2024

Filed by LIFE RING FOUNDATION.

Totals

Total revenue
$1,812,983
Total expenses
$342,119
Contributions and grants received
$2,220,310
Grants paid
$60,065
Program service revenue
$0
Investment income
$35,900
Other revenue
-$443,227
Total assets, end of year
$1,859,132
Total liabilities, end of year
$2,083
Net assets or fund balances, end of year
$1,857,049
Program services expenses (Part IX)
$113,454
Management and general expenses
$201,971
Fundraising expenses
$26,694
Program service expenses (Part III)
$113,454

Program services were 33.2% 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.

  • 1c · Fundraising events

    $2,220,310

  • 3 · Investment income

    total $16,167 · excluded $16,167

  • 7a · Gross sales of assets other than inventory

    other assets $19,733

  • 7c · Gain or loss

    other assets $19,733

  • 7d · Net gain or loss

    total $19,733 · related or exempt $19,733

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

    $2,220,310

  • 8b · Fundraising events: direct expenses

    $443,538

  • 8c · Net income from fundraising events

    total -$443,538 · excluded -$443,538

  • 11a · Other revenue: WELLS FARGO CASHBACK

    total $311 · related or exempt $311

  • 11e · Other revenue, total

    $311

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $60,065 · program services $60,065

  • 5 · Compensation of officers, directors and key employees

    total $106,778 · program services $53,389 · management and general $26,695 · fundraising $26,694

  • 9 · Other employee benefits

    total $6,756 · management and general $6,756

  • 10 · Payroll taxes

    total $13,949 · management and general $13,949

  • 11b · Fees: legal

    total $9,858 · management and general $9,858

  • 11c · Fees: accounting

    total $6,300 · management and general $6,300

  • 11f · Fees: investment management

    total $652 · management and general $652

  • 12 · Advertising and promotion

    total $109,414 · management and general $109,414

  • 13 · Office expenses

    total $8,988 · management and general $8,988

  • 14 · Information technology

    total $7,799 · management and general $7,799

  • 23 · Insurance

    total $2,433 · management and general $2,433

  • 24a · Other expenses: OTHER COSTS

    total $7,531 · management and general $7,531

  • 24b · Other expenses: PAYROLL FEES

    total $1,056 · management and general $1,056

  • 24c · Other expenses: LICENSES, PERMITS

    total $275 · management and general $275

  • 24d · Other expenses: CREDIT CARD FEES

    total $145 · management and general $145

  • 24e · All other expenses

    total $120 · management and general $120

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $179,478 · end of year $1,651,731

  • 11 · Investments: publicly traded securities

    beginning of year $129,013 · end of year $207,401

  • 17 · Accounts payable and accrued expenses

    end of year $2,083

  • 27 · Net assets without donor restrictions

    beginning of year $308,491 · end of year $1,857,049

Mission and programs · 2024

Mission

THE FOUNDATION WAS CREATED TO PROVIDE CHARITABLE AND EMERGENCY ASSISTANCE TO INDIVUDUALS AND TAX-EXEMPT ORGANIZATIONS. THE FOUNDATION ALSO FUNDS SCHOLARSHIPS FOR INDIVIDUALS TO ATTEND VIRGINIA TECH.

Activities or mission (Part I)

THE FOUNDATION WAS CREATED TO PROVIDE CHARITABLE AND EMERGENCY ASSISTANCE TO INDIVIDUALS AND TAX-EXEMPT ORGANIZATIONS.

  • THE FOUNDATION PROVIDED GENERAL DONATIONS TO NON-PROFITS SUCH AS CHILDREN'S MIRACLE NETWORK, VWCC EDUCATIONAL FOUNDATION, WE ARE ONE LLC, AND VIRGINIA TECH FOUNDATION TO FURTHER THEIR CHARITABLE WORKS.

    Expenses $60,065 · Grants $60,065

  • THE FOUNDATION PROVIDED GENERAL DONATIONS TO NON-PROFITS SUCH AS CHILDREN'S MIRACLE NETWORK, VWCC EDUCATIONAL FOUNDATION, WE ARE ONE LLC, AND VIRGINIA TECH FOUNDATION TO FURTHER THEIR CHARITABLE WORKS.

    Expenses $53,389

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JORDAN BOUSMAN

    VP OF PHILAN

    Total calculated
    $106,778
    From this org
    $106,778
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • BRANDON LACROIX

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH R MARTIN MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SARAH F WILSON

    EXECUTIVE DI

    Total calculated
    $0
    Hours/week
    40

  • JESSICA O WOOLWINE

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • KELLY S WOOLWINE

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • RICHARD E WOOLWINE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.0
Source object
202533179349301713

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