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Nonprofiteer
← YMCA FOUNDATION OF SOUTH PALM BEACH COUNTY INC

Form 990 for tax year 2023

Filed by YMCA FOUNDATION OF SOUTH PALM BEACH COUNTY INC.

Totals

Total revenue
$325,108
Total expenses
$99,906
Contributions and grants received
$181,603
Grants paid
$59,444
Program service revenue
$0
Investment income
$143,505
Other revenue
$0
Total assets, end of year
$5,024,960
Total liabilities, end of year
$45,480
Net assets or fund balances, end of year
$4,979,480
Program services expenses (Part IX)
$59,444
Management and general expenses
$40,462
Fundraising expenses
$0
Program service expenses (Part III)
$59,444

Program services were 59.5% 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.

  • 1d · Related organizations

    $142,511

  • 1f · All other contributions, gifts and grants

    $39,092

  • 1g · Noncash contributions included above

    $500

  • 3 · Investment income

    total $141,767 · excluded $141,767

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · unrelated business $0

  • 7a · Gross sales of assets other than inventory

    securities $6,793,252

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

    securities $6,791,514

  • 7c · Gain or loss

    securities $1,738

  • 7d · Net gain or loss

    total $1,738 · excluded $1,738

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $59,444 · program services $59,444

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $1,960 · management and general $1,960

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $25,836 · management and general $25,836

  • 11g · Fees: other

    total $12,528 · program services $0 · management and general $12,528 · fundraising $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: LICENSE FEE

    total $138 · program services $0 · management and general $138 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $66,426 · end of year $41,427

  • 2 · Savings and temporary cash investments

    beginning of year $2,981,402 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $217,000 · end of year $121,574

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $1,172,255 · end of year $4,861,959

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,065 · end of year $45,480

  • 27 · Net assets without donor restrictions

    beginning of year $979,375 · end of year $4,260,576

  • 28 · Net assets with donor restrictions

    beginning of year $3,456,643 · end of year $718,904

Mission and programs · 2023

Mission

THE YMCA FOUNDATION OF SOUTH PALM BEACH COUNTY WAS ESTABLISHED TO PROVIDE A PERMANENT SOURCE OF FUNDING, ALLOWING THE YMCA TO MEET CRITICAL COMMUNITY NEEDS NOW AND IN THE FUTURE. EARNINGS FROM THE FUND SUPPORT EXISTING PROGRAM AREAS, (CONTINUED ON SCHEDULE O)

Activities or mission (Part I)

THE YMCA FOUNDATION OF SOUTH PALM BEACH COUNTY WAS ESTABLISHED TO PROVIDE A PERMANENT SOURCE OF FUNDING, ALLOWING THE YMCA TO MEET CRITICAL COMMUNITY (CONTINUED ON SCHEDULE O)

  • THE YMCA FOUNDATION OF SOUTH PALM BEACH COUNTY WAS ESTABLISHED TO PROVIDE A PERMANENT SOURCE OF FUNDING, ALLOWING THE YMCA TO MEET CRITICAL COMMUNITY NEEDS NOW AND IN THE FUTURE.

    Expenses $59,444 · Grants $59,444

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

Listed in Part VII

  • Jason Hagensick

    PRESIDENT/CEO

    Total calculated
    $320,020
    From this org
    $0
    From related orgs
    $285,732
    Other
    $34,288
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $231,819 related
    Bonus
    $0 + $44,913 related
    Other
    $0 + $9,000 related
    Deferred
    $0 + $34,288 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $320,020 related

  • Gary Flaks

    VICE PRESIDENT/CFO

    Total calculated
    $292,527
    From this org
    $0
    From related orgs
    $248,356
    Other
    $44,171
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $185,508 related
    Bonus
    $0 + $55,348 related
    Other
    $0 + $7,500 related
    Deferred
    $0 + $29,803 related
    Nontaxable benefits
    $0 + $14,368 related
    Filer's total
    $0 + $292,527 related

  • Robert Robes

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Randy Nobles

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Timothy Devlin

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Christopher B Warren

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susan Harris

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Kenneth Kaleel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jack Warner

    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. 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

None.

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3:
The volunteer officers of the board of trustees of the YMCA of South Palm Beach County, a related entity, are responsible for reviewing the performance of the CEO and for setting compensation. These are all independent individuals. They are provided with comparability data by the YMCA of the USA as well as recommendations for salary ranges according to the size and scope of the association.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
29 July 2024
IRS schema version
2023v5.1
Source object
202412369349300021

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