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Nonprofiteer
← BEYGOOD FOUNDATION

Form 990 for tax year 2023

Filed by BEYGOOD FOUNDATION.

Totals

Total revenue
$5,387,152
Total expenses
$6,157,288
Contributions and grants received
$3,855,831
Grants paid
$3,283,691
Program service revenue
$0
Investment income
$1,531,321
Other revenue
$0
Total assets, end of year
$41,943,450
Total liabilities, end of year
$945,595
Net assets or fund balances, end of year
$40,997,855
Program services expenses (Part IX)
$5,527,591
Management and general expenses
$579,594
Fundraising expenses
$50,103
Program service expenses (Part III)
$5,527,591

Program services were 89.8% 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

    $3,855,831

  • 1g · Noncash contributions included above

    $55,500

  • 3 · Investment income

    total $1,598,937 · excluded $1,598,937

  • 7a · Gross sales of assets other than inventory

    securities $37,529,263

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

    securities $37,596,879

  • 7c · Gain or loss

    securities -$67,616

  • 7d · Net gain or loss

    total -$67,616 · related or exempt -$67,616

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $3,123,691 · program services $3,123,691

  • 2 · Grants to domestic individuals

    total $70,000 · program services $70,000

  • 3 · Grants to foreign organizations and individuals

    total $90,000 · program services $90,000

  • 5 · Compensation of officers, directors and key employees

    total $265,370 · program services $212,296 · management and general $26,537 · fundraising $26,537

  • 7 · Other salaries and wages

    total $403,910 · program services $323,792 · management and general $72,235 · fundraising $7,883

  • 8 · Pension plan contributions

    total $1,094 · program services $820 · management and general $219 · fundraising $55

  • 9 · Other employee benefits

    total $45,484 · program services $37,740 · management and general $5,250 · fundraising $2,494

  • 10 · Payroll taxes

    total $43,844 · program services $36,751 · management and general $4,733 · fundraising $2,360

  • 11b · Fees: legal

    total $85,048 · management and general $85,048

  • 11c · Fees: accounting

    total $35,103 · management and general $35,103

  • 11g · Fees: other

    total $183,570 · program services $141,135 · management and general $42,435

  • 12 · Advertising and promotion

    total $43,679 · program services $41,139 · management and general $2,540

  • 13 · Office expenses

    total $171,769 · program services $140,639 · management and general $31,130

  • 14 · Information technology

    total $163,158 · program services $132,984 · management and general $30,174

  • 16 · Occupancy

    total $187,540 · program services $150,193 · management and general $27,716 · fundraising $9,631

  • 17 · Travel

    total $400,727 · program services $373,115 · management and general $27,612

  • 22 · Depreciation, depletion and amortization

    total $15,278 · management and general $15,278

  • 23 · Insurance

    total $21,233 · program services $17,798 · management and general $2,292 · fundraising $1,143

  • 24a · Other expenses: EQUIPMENT RENTAL

    total $138,335 · program services $136,846 · management and general $1,489

  • 24b · Other expenses: SECURITY AND PROTECTION

    total $97,315 · program services $93,529 · management and general $3,786

  • 24c · Other expenses: CONSULTATION FEES

    total $90,791 · program services $31,500 · management and general $59,291

  • 24d · Other expenses: DUES AND MEMBERSHIPS

    total $1,104 · program services $677 · management and general $427

  • 24e · All other expenses

    total $479,245 · program services $372,946 · management and general $106,299

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $40,806,790 · end of year $24,151,036

  • 2 · Savings and temporary cash investments

    beginning of year $212,581 · end of year $213,647

  • 3 · Pledges and grants receivable

    beginning of year $500,000 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,639 · end of year $10,569

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

    $50,000

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

    $15,278

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $34,722

  • 12 · Investments: other securities

    end of year $16,869,036

  • 15 · Other assets

    beginning of year $816,898 · end of year $664,440

  • 17 · Accounts payable and accrued expenses

    beginning of year $195,337 · end of year $266,566

  • 25 · Other liabilities

    beginning of year $816,898 · end of year $679,029

  • 27 · Net assets without donor restrictions

    beginning of year $39,784,489 · end of year $40,677,855

  • 28 · Net assets with donor restrictions

    beginning of year $1,551,184 · end of year $320,000

Mission and programs · 2023

Mission

ECONOMIC EQUITY BY SUPPORTING ORGANIZATONS SERVING MARGINALIZED AND UNDER-RESOURCED COMMUNITIES WITH EDUCATIONAL SCHOLARSHIPS, ADVOCACY OF INTERNSHIPS LEADING TO JOB PLACEMENT, AND ENTREPRENEURIAL GRANTS AND PROGRAM SUPPORT FOR SMALL BUSINESS SUSTAINABILITY.

Activities or mission (Part I)

ECONOMIC EQUITY BY SUPPORTING ORGANIZATIONS THAT SERVE MARGINALIZED AND UNDER-SOURCED COMMUNITIES

  • CHARITABLE GIVING PROGRAM SERVING EDUCATIONAL PURPOSES AND THOSE IN NEED OR IN DISTRESS.

    Expenses $5,527,591 · Grants $3,283,691

As filed on the 2023 return.

Listed in Part VII

  • Tina Knowles-Lawson

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Richard Lawson

    BOARD MEMBER (UNTIL AUGUST 2023)

    Total calculated
    $0
    Hours/week
    1

  • Kawanna Brown

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jay Brown

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mai Lassiter

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael Oppenheim

    BOARD MEMBER (DECEASED APRIL 2023)

    Total calculated
    $0
    Hours/week
    1

  • Cheryl Cruezot

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Andrew Sterlka

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Funmi Olorunnipa Badejo

    BOARD MEMBER (FROM NOVEMBER 2023)

    Total calculated
    $0
    Hours/week
    1

  • Marilyn Booker

    BOARD MEMBER (FROM NOVEMBER 2023)

    Total calculated
    $0
    Hours/week
    1

  • Ivy McGregor

    EXECUTIVE DIRECTOR

    Total calculated
    $283,536
    From this org
    $265,370
    From related orgs
    $0
    Other
    $18,166
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $265,370
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,166
    Filer's total
    $283,536

  • Jennifer Leger

    DIRECTOR OF FINANCE

    Total calculated
    $172,297
    From this org
    $157,665
    From related orgs
    $0
    Other
    $14,632
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,665
    Bonus
    $0
    Other
    $0
    Deferred
    $1,093
    Nontaxable benefits
    $13,539
    Filer's total
    $172,297

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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
12 November 2024
IRS schema version
2023v5.1
Source object
202423189349304302

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

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