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← SCHIELD FAMILY BRANDS EMPLOYEE LITE FOUNDATION INC

Form 990 for tax year 2022

Filed by SCHIELD FAMILY BRANDS EMPLOYEE LITE FOUNDATION INC.

Totals

Total revenue
$84,393
Total expenses
$80,427
Contributions and grants received
$61,322
Grants paid
$80,427
Program service revenue
$0
Investment income
$22
Other revenue
$23,049
Total assets, end of year
$13,897
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$13,897
Program services expenses (Part IX)
$80,427
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$80,427

Program services were 100.0% 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

    $61,322

  • 3 · Investment income

    total $22 · related or exempt $22

  • 8a · Fundraising events: gross income

    $23,049

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

    $61,322

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $23,049 · excluded $23,049

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $67,929 · program services $67,929

  • 2 · Grants to domestic individuals

    total $12,498 · program services $12,498

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,931 · end of year $13,897

  • 29 · Capital stock, trust principal or current funds

    beginning of year $9,931 · end of year $13,897

  • 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 $0 · end of year $0

Mission and programs · 2022

Mission

THE MAIN GOAL OF THE EMPLOYEE FOUNDATION IS TO IMPROVE OUR COMMUNITIES AND THE LIVES OF ITS CITIZENS BY HELPING THEM TO HELP THEMSELVES. THIS IS DONE THROUGH GIFTS OF TIME, TALENT AND TREASURE.

Activities or mission (Part I)

Charitable gifting program.

  • Financial support was provided to 88 community organizations to support their programs pertaining to emergency services, youth activities, care of the elderly or indigent and environmental programs.

    Expenses $67,929 · Grants $67,929

  • LITE Foundation served as a contact for organizations needing assistance with their programs. Approximately 40 hours of donated time was provided to organizations to assist with youth activities, fund raising,etc. during 2022.

  • Financial support was provided to 39 individuals or families to assist them with expenses due to catastrophic events (house fires, tornadoes, medical bills etc.).

    Expenses $12,498 · Grants $12,498

As filed on the 2022 return.

Listed in Part VII

  • KEVIN SCHIELD

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JASON EVERT

    VICE PRES

    Total calculated
    $0
    Hours/week
    2

  • JESSICA DASSEY

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • CHRIS WILLE

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • EDWARD SCHIELD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • CLARICE SCHIELD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • CHRIS SCHIELD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JILL DASSOW

    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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2023
IRS schema version
2022v5.0
Source object
202341359349313659

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