Form 990 for tax year 2024
Filed by LOCAL FIRST EDUCATIONAL FOUNDATION.
Totals
- Total revenue
- $972,764
- Total expenses
- $879,468
- Contributions and grants received
- $946,661
- Grants paid
- $63,331
- Program service revenue
- $31,870
- Investment income
- $0
- Other revenue
- -$5,767
- Total assets, end of year
- $153,020
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $153,020
- Program services expenses (Part IX)
- $512,636
- Management and general expenses
- $244,909
- Fundraising expenses
- $121,923
- Program service expenses (Part III)
- $512,636
Program services were 58.3% 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
$24,355
-
1f · All other contributions, gifts and grants
$922,306
-
2a · Program service revenue: SUSTAINABLE BIZ EDUCAT
total $30,870 · related or exempt $30,870
-
2b · Program service revenue: CONSULTING
total $1,000 · related or exempt $1,000
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$24,355
-
8b · Fundraising events: direct expenses
$5,767
-
8c · Net income from fundraising events
total -$5,767 · excluded -$5,767
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $63,331 · program services $63,331
-
11a · Fees: management
total $658,489 · program services $425,023 · management and general $116,733 · fundraising $116,733
-
11c · Fees: accounting
total $21,211 · management and general $21,211
-
11g · Fees: other
total $19,675 · program services $1,150 · management and general $18,525
-
16 · Occupancy
total $7,006 · management and general $3,503 · fundraising $3,503
-
17 · Travel
total $5,845 · program services $2,407 · management and general $3,438
-
22 · Depreciation, depletion and amortization
total $15,468 · management and general $15,468
-
23 · Insurance
total $4,179 · management and general $4,179
-
24a · Other expenses: MARKETING & DESIGN
total $48,594 · management and general $48,594
-
24b · Other expenses: FOOD & BEVERAGE EXPENSE
total $15,423 · program services $12,439 · management and general $2,984
-
24c · Other expenses: EDUCATIONAL PROGRAMS
total $9,015 · program services $7,270 · management and general $58 · fundraising $1,687
-
24d · Other expenses: DUES AND SUBSCRIPTIONS
total $5,048 · management and general $5,048
-
24e · All other expenses
total $6,184 · program services $1,016 · management and general $5,168
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $20,725 · end of year $131,633
-
4 · Accounts receivable
beginning of year $5,000 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$94,610
-
10b · Land, buildings and equipment: accumulated depreciation
$73,223
-
10c · Land, buildings and equipment, net
beginning of year $35,749 · end of year $21,387
-
17 · Accounts payable and accrued expenses
beginning of year $1,750 · end of year $0
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $59,724 · end of year $153,020
Mission and programs · 2024
Mission
WE LEAD THE DEVELOPMENT OF AN ECONOMY GROUNDED IN LOCAL OWNERSHIP THAT MEETS THE BASIC NEEDS OF PEOPLE, BUILDS LOCAL WEALTH AND SOCIAL CAPITAL, FUNCTIONS IN HARMONY WITH OUR ECOSYSTEM, AND ENCOURAGES JOYFUL COMMUNITY.
Activities or mission (Part I)
TO PROVIDE BUSINESS EDUCATION TO LOCAL BUSINESSES
-
LOCAL FIRST EDUCATION FOUNDATION CONDUCTS COMMUNITY EDUCATION EVENTS, INCLUDING OUR GOOD FOR MICHIGAN PROGRAM, TO EDUCATE BUSINESS ON HOW TO IMPROVE THEIR, SOCIAL, ENVIRONMENTAL AND EMPLOYEE IMPACT, AND WE FACILITATE CONVERSATIONS ABOUT LOCAL OWNERSHIP AND LOCAL INVESTMENT BUILDS A MORE RESILIENT ECONOMY
Expenses $449,305 · Revenue $31,870
-
LOCAL FIRST EDUCATION FOUNDATION WORKS WITH LOCAL BUSINESS TO HELP EDUCATE AND IMPLEMENT SUSTAINABLE BUSINESS PRACTICES AND HOW THESE PRACTICES BUILD THE COMPONENTS OF A MORE SUSTAINABLE ECONOMY.
Expenses $63,331 · Grants $63,331
As filed on the 2024 return.
Listed in Part VII
-
Tammy KarasTAMMY KARAS
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Samuel SedleckySAMUEL SEDLECKY
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Carlos MartinezCARLOS MARTINEZ
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Kaylee Moreno BurkeKAYLEE MORENO BURKE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kyama KitaviKYAMA KITAVI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Gary GlassGARY GLASS
BOARD MEMBER
- 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
-
$63,311
TO HOLD COMPREHENSIVE COMMUNITY OUTREACH, EDUCATIONAL WORKSHOPS, AND WORK TOWARD LESSENING ECONOMIC DISPARITIES AND CREATE AND RETAIN LOCAL JOBS AND RESOURCES.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 2 June 2025
- IRS schema version
- 2024v5.1
- Source object
- 202531559349300328
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.