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Nonprofiteer
← LIGHTHOUSE FINANCIAL FOUNDATION

Form 990 for tax year 2023

Filed by LIGHTHOUSE FINANCIAL FOUNDATION.

Totals

Total revenue
$670,670
Total expenses
$406,886
Contributions and grants received
$604,353
Grants paid
$80,056
Program service revenue
$60,710
Investment income
$14,223
Other revenue
-$8,616
Total assets, end of year
$2,269,633
Total liabilities, end of year
$1,076,252
Net assets or fund balances, end of year
$1,193,381
Program services expenses (Part IX)
$176,676
Management and general expenses
$149,010
Fundraising expenses
$81,200
Program service expenses (Part III)
$176,676

Program services were 43.4% 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

    $86,000

  • 1f · All other contributions, gifts and grants

    $518,353

  • 2a · Program service revenue: CONTRACT INCOME

    total $60,710 · related or exempt $60,710

  • 3 · Investment income

    total $14,223 · related or exempt $14,223

  • 8a · Fundraising events: gross income

    $0

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

    $86,000

  • 8b · Fundraising events: direct expenses

    $8,616

  • 8c · Net income from fundraising events

    total -$8,616 · excluded -$8,616

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $80,056 · program services $80,056

  • 5 · Compensation of officers, directors and key employees

    total $203,000 · program services $60,900 · management and general $60,900 · fundraising $81,200

  • 11b · Fees: legal

    total $2,550 · management and general $2,550

  • 11g · Fees: other

    total $36,486 · management and general $36,486

  • 12 · Advertising and promotion

    total $958 · management and general $958

  • 13 · Office expenses

    total $20,048 · program services $198 · management and general $19,850

  • 14 · Information technology

    total $19,855 · program services $9,357 · management and general $10,498

  • 16 · Occupancy

    total $29,859 · program services $18,043 · management and general $11,816

  • 17 · Travel

    total $46 · management and general $46

  • 22 · Depreciation, depletion and amortization

    total $4,985 · program services $1,390 · management and general $3,595

  • 23 · Insurance

    total $2,306 · program services $732 · management and general $1,574

  • 24a · Other expenses: MISCELLANEOUS

    total $6,737 · program services $6,000 · management and general $737

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $108,090 · end of year $804,104

  • 2 · Savings and temporary cash investments

    beginning of year $769,315 · end of year $60,686

  • 3 · Pledges and grants receivable

    end of year $1,070,000

  • 4 · Accounts receivable

    beginning of year $20,000 · end of year $25,000

  • 9 · Prepaid expenses and deferred charges

    end of year $690

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

    $25,936

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

    $4,995

  • 10c · Land, buildings and equipment, net

    beginning of year $2,915 · end of year $20,941

  • 15 · Other assets

    beginning of year $103,552 · end of year $288,212

  • 17 · Accounts payable and accrued expenses

    beginning of year $80,659 · end of year $6,252

  • 19 · Deferred revenue

    end of year $1,070,000

  • 27 · Net assets without donor restrictions

    beginning of year $923,213 · end of year $488,589

  • 28 · Net assets with donor restrictions

    end of year $704,792

Mission and programs · 2023

Mission

TO INSPIRE AND ENABLE EVERYONE IN OUR COMMUNITY TO THRIVE FINANCIALLY PROVIDING FINANCIAL EDUCATION/COUNSELING, CREDIT RESTORATION, AND SUPPORT AFFORDABLE HOUSING TO OTHER QUALIFIED CHARITIES.

  • TO SUPPORT FINANCIAL EDUCATION AND COUNSELING TO LOW AND MODERATE INCOME INDIVIDUALS INCLUDING UNDERSTANDING CREDIT REPORTS, CREDIT RESTORATION, AND BUDGETING.

    Expenses $92,801 · Grants $80,056 · Revenue $14,266

  • SAVE FIRST PROVIDES DIRECT COUNSELING AND EDUCATIONAL COURSES TO INDIVIDUALS THAT ARE SEEKING TO BETTER THEIR FINANCIAL WELLNESS. SAVE FIRST WAS THE ORGANIZATION THAT WE UTILIZED FOR THESE SERVICES OVER THE PAST SEVERAL YEARS. AN OPPORTUNITY PRESENTED ITSELF FOR US TO ACQUIRE SAVE FIRST FINANCIAL WELLNESS, WHICH WE DID IN JULY OF 2023.

    Expenses $83,875 · Revenue $60,667

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

Listed in Part VII

  • Steve Bernhoft

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brett Bryant

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • David Bristol

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rebecca Bristol

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sherri Falkner

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Cristhian Canseco Juarez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Andrew Nelson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ryan Halley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kim Capeloto

    PRESIDENT

    Total calculated
    $203,000
    From this org
    $203,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $203,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $203,000

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

  • 3 · Written employment contract
  • 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

The filer's explanations (Part III)

PART I, LINE 3
A WRITTEN EMPLOYMENT CONTRACT, APPROVED BY THE BOARD OF DIRECTORS, WAS SIGNED PRIOR TO THE PRESIDENT ASSUMING THE POSITION.

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

  • SAVE FIRST FINANCIAL WELLNESS

    $57,000

    PROVIDE FINANCIAL COUNSELING

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202433209349311898

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