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Nonprofiteer
← LYFORD CAY FOUNDATION INC

Form 990 for tax year 2023

Filed by LYFORD CAY FOUNDATION INC.

Totals

Total revenue
$2,952,047
Total expenses
$2,058,168
Contributions and grants received
$2,373,292
Grants paid
$581,262
Program service revenue
$0
Investment income
$405,858
Other revenue
$172,897
Total assets, end of year
$33,435,159
Total liabilities, end of year
$178,023
Net assets or fund balances, end of year
$33,257,136
Program services expenses (Part IX)
$1,404,221
Management and general expenses
$356,097
Fundraising expenses
$297,850
Program service expenses (Part III)
$1,404,221

Program services were 68.2% 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

    $2,373,292

  • 3 · Investment income

    total $741,753 · excluded $741,753

  • 7a · Gross sales of assets other than inventory

    securities $12,562,537

  • 7b · Less cost or other basis and sales expenses

    securities $12,898,432

  • 7c · Gain or loss

    securities -$335,895

  • 7d · Net gain or loss

    total -$335,895 · excluded -$335,895

  • 11a · Other revenue: CLCF ADMIN. FEES

    total $123,286 · unrelated business $123,286

  • 11b · Other revenue: REIMBURSEMENTS

    total $49,611 · related or exempt $49,611

  • 11e · Other revenue, total

    $172,897

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $246,000 · program services $246,000

  • 3 · Grants to foreign organizations and individuals

    total $335,262 · program services $335,262

  • 7 · Other salaries and wages

    total $653,139 · program services $440,321 · management and general $66,794 · fundraising $146,024

  • 8 · Pension plan contributions

    total $10,282 · program services $7,744 · management and general $425 · fundraising $2,113

  • 9 · Other employee benefits

    total $48,001 · program services $27,237 · management and general $7,990 · fundraising $12,774

  • 10 · Payroll taxes

    total $13,997 · program services $8,875 · management and general $1,790 · fundraising $3,332

  • 11b · Fees: legal

    total $16,269 · management and general $12,202 · fundraising $4,067

  • 11c · Fees: accounting

    total $55,387 · management and general $55,387

  • 11f · Fees: investment management

    total $159,219 · management and general $159,219

  • 12 · Advertising and promotion

    total $85,491 · program services $5,529 · management and general $308 · fundraising $79,654

  • 13 · Office expenses

    total $49,416 · program services $28,525 · management and general $11,664 · fundraising $9,227

  • 14 · Information technology

    total $87,556 · program services $46,654 · management and general $24,110 · fundraising $16,792

  • 16 · Occupancy

    total $45,994 · program services $26,349 · management and general $10,914 · fundraising $8,731

  • 19 · Conferences, conventions and meetings

    total $15,725 · program services $180 · management and general $409 · fundraising $15,136

  • 23 · Insurance

    total $8,856 · program services $3,971 · management and general $4,885

  • 24a · Other expenses: STUDENT SUPPLIES & SUPP

    total $91,706 · program services $91,706

  • 24b · Other expenses: STUDENT FOOD

    total $58,135 · program services $58,135

  • 24c · Other expenses: STUDENT TRANSPORTATION

    total $44,309 · program services $44,309

  • 24d · Other expenses: TEACHING SUPPLIES & PRO

    total $33,424 · program services $33,424

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,993,716 · end of year $2,004,165

  • 2 · Savings and temporary cash investments

    beginning of year $531,040 · end of year $478,530

  • 4 · Accounts receivable

    beginning of year $209,750 · end of year $256,893

  • 9 · Prepaid expenses and deferred charges

    beginning of year $660 · end of year $34,939

  • 11 · Investments: publicly traded securities

    beginning of year $25,285,566 · end of year $28,201,812

  • 12 · Investments: other securities

    beginning of year $2,306,399 · end of year $2,458,820

  • 17 · Accounts payable and accrued expenses

    beginning of year $147,989 · end of year $160,470

  • 18 · Grants payable

    beginning of year $588,608 · end of year $17,553

  • 27 · Net assets without donor restrictions

    beginning of year $27,160,181 · end of year $30,603,025

  • 28 · Net assets with donor restrictions

    beginning of year $2,430,353 · end of year $2,654,111

Mission and programs · 2023

Mission

SEE SCHEDULE O.

  • THE FOUNDATION PROVIDES ACADEMIC AND TECHNICAL TRAINING & VOCATIONAL SCHOLARSHIPS FOR DESERVING BAHAMIAN STUDENTS ATTENDING COLLEGES, UNIVERSITIES AND OTHER EDUCATIONAL INSTITUTIONS INTERNATIONALLY. FOR THE FISCAL YEAR 2023, THIRTY-TWO (32) SCHOLARSHIPS WERE GRANTED TO TWENTY-NINE (29) INSTITUTIONS, TOTALING $424,000.

    Expenses $533,914 · Grants $424,000 · Revenue $49,611

  • THE FOUNDATION PROVIDES GRANTS TO NOT-FOR-PROFIT ORGANIZATIONS THAT SEEK TO IMPROVE THE GENERAL EDUCATION, HEALTH AND WELFARE OF THE COMMUNITIES THAT THEY SERVE. IN 2023, GRANTS WERE MADE TO FIFTEEN (15) ORGANIZATIONS, TOTALING $126,000.

    Expenses $210,517 · Grants $126,000

  • THE FOUNDATION PROVIDES AN EDUCATION INITIATIVE, F.O.C.U.S., WHICH IS AN EIGHT-YEAR SCHOOL ENRICHMENT PROGRAMME DESIGNED TO SET UNDER-RESOURCED STUDENTS ON A PATH TO COLLEGE AND CAREER SUCCESS THROUGH WEEKEND AND SUMMER CLASSES. IN 2023, THE PROGRAMME HOSTED TWO HUNDRED FORTY-TWO (242) STUDENTS, FOR A TOTAL COST OF $539,894.

    Expenses $539,894

  • SPECIAL PROJECTS AND VOLUNTEER PROGRAMME

    Expenses $119,896

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mr Basil P Goulandris

    CHAIR

    Total calculated
    $0
    Hours/week
    7

  • Mrs Sarah A Farrington

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Mr Jeffrey A Everett

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mr John T Crone IV

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Mr E Parker Neave

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Lady Camille Barnett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ms Saskia D'Aguilar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robin D'Alessandro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Ian D Fair

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Mrs Jennifer Flanagan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mr Philip Hillier

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mrs Lynn Holowesko Cbe Jp

    DIRECTOR THROUGH 6/2023

    Total calculated
    $0
    Hours/week
    1

  • Mrs Nancy Kelly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan Sanford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robin Symonette

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mrs Patricia Thomson Leonard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ms Wendy Warren

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mrs Judith A Whitehead

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443189349311059

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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