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Nonprofiteer
← LOU-VON FAMILY FOUNDATION

Form 990 for tax year 2023

Filed by LOU-VON FAMILY FOUNDATION.

Totals

Total revenue
$77,218
Total expenses
$120,846
Contributions and grants received
$30,520
Grants paid
$83,597
Program service revenue
$2,458
Investment income
$0
Other revenue
$44,240
Total assets, end of year
$494,755
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$494,755
Program services expenses (Part IX)
$91,482
Management and general expenses
$29,364
Fundraising expenses
$0
Program service expenses (Part III)
$91,482

Program services were 75.7% 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.

  • 1f · All other contributions, gifts and grants

    $30,520

  • 2a · Program service revenue: MORTGAGE INTEREST

    total $2,458 · related or exempt $2,458

  • 6a · Gross rents

    real property $44,240

  • 6c · Rental income or loss

    real property $44,240

  • 6d · Net rental income or loss

    total $44,240 · related or exempt $44,240

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $83,597 · program services $83,597

  • 13 · Office expenses

    total $4,753 · management and general $4,753

  • 22 · Depreciation, depletion and amortization

    total $7,110 · program services $7,110

  • 23 · Insurance

    total $1,509 · management and general $1,509

  • 24a · Other expenses: TAXES

    total $4,976 · management and general $4,976

  • 24b · Other expenses: OUTSIDE CONTRACTING

    total $11,380 · management and general $11,380

  • 24c · Other expenses: FACILITIES AND EQUIPMENT

    total $775 · program services $775

  • 24d · Other expenses: UTILITIES

    total $5,366 · management and general $5,366

  • 24e · All other expenses

    total $1,380 · management and general $1,380

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $91,559 · end of year $48,441

  • 4 · Accounts receivable

    beginning of year $10,977 · end of year $10,977

  • 7 · Other notes and loans receivable

    beginning of year $30,037 · end of year $26,495

  • 10a · Land, buildings and equipment: cost or other basis

    $438,195

  • 10b · Land, buildings and equipment: accumulated depreciation

    $29,353

  • 10c · Land, buildings and equipment, net

    beginning of year $405,526 · end of year $408,842

  • 27 · Net assets without donor restrictions

    beginning of year $538,099 · end of year $494,755

Mission and programs · 2023

Mission

IS TO ENCOURAGE, SUPPORT AND CONDUCT PROGRAMS AND ACTIVITIES THAT OPEN OPPORTUNITIES AND CREATE PATHWAYS TO IMPROVED QUALITY OF LIFE FOR INDIVIDUALS AND FAMILIES THAT HAVE NOT BEEN ABLE TO FULLY BENEFIT FROM THE AMERICAN DREAM

  • The LouVon Family Foundation addresses the quality of life for the underprivileged members of the community as a whole with specific attention dedicated to our senior citizens. In addition to financial support provided to persons in need of medical attention , pharmacy needs, heating and air conditioning, clothing and assistance with housing needs, LouVon has partnered with local groups and organizations whose mission is same or similar but have more financial means than we have for projects that need additional financing. Additionally, we are strengthening our partnerships with the mental health community as well as other resources that can offer more concentrated support to include licensed practitioners in health fields. We are experiencing an increase in requests for support and assistance in areas such as depression, juvenile mental health, homelessness and care for mentally challenged youth. These request can range from office visits to daycare an

    Expenses $51,550

  • BEAUTIFUL POSSIBILITIES SCHOLARSHIP INITIATIVE FOR VARIOUS COLLEGES The Beautiful Possibilities Scholarship Initiative award program aimed at supporting underrepresented students who strive for a college education but dont have the financial means by which to attend.

    Expenses $18,550

  • FEEDING THE HOMLESS

    Expenses $8,735

  • CHRISTMAS FOR NEEDY FAMILIES

    Expenses $6,538

  • COATS FOR KIDS IS A PROGRAM GIVES BRAND NEW COATS TO CHILDREN IN THE SUMTER COMMUNITY AND THE OUTLYING COUNTIES.

    Expenses $6,109

As filed on the 2023 return.

Listed in Part VII

  • ERIN J WILSONJAMES

    VICE BOARDPRESIDENT

    Total calculated
    $0
    Hours/week
    10 + 10 related

  • ANDERSON THOMAS

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • RODNEY RICHBURG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • JAMES V WILSON SR

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    10 + 10 related

  • SHELIA J BRADSHAW

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2024
IRS schema version
2023v5.0
Source object
202431359349312528

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