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Nonprofiteer
← LIBERTY FOUNDATION INC

Form 990 for tax year 2022

Filed by LIBERTY FOUNDATION INC.

Totals

Total revenue
$475,806
Total expenses
$208,396
Contributions and grants received
$99,645
Grants paid
$57,408
Program service revenue
$0
Investment income
$278,856
Other revenue
$97,305
Total assets, end of year
$34,489,715
Total liabilities, end of year
$11,899
Net assets or fund balances, end of year
$34,477,816
Program services expenses (Part IX)
$57,408
Management and general expenses
$130,587
Fundraising expenses
$20,401
Program service expenses (Part III)
$57,408

Program services were 27.5% 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.

  • 1f · All other contributions, gifts and grants

    $99,645

  • 3 · Investment income

    total $859,999 · excluded $859,999

  • 6a · Gross rents

    real property $5,779

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $5,779

  • 6d · Net rental income or loss

    total $5,779 · excluded $5,779

  • 7a · Gross sales of assets other than inventory

    securities $7,267,933

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

    securities $7,849,076

  • 7c · Gain or loss

    securities -$581,143

  • 7d · Net gain or loss

    total -$581,143 · excluded -$581,143

  • 8a · Fundraising events: gross income

    $119,611

  • 8b · Fundraising events: direct expenses

    $28,085

  • 8c · Net income from fundraising events

    total $91,526 · excluded $91,526

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $57,408 · program services $57,408

  • 7 · Other salaries and wages

    total $56,465 · management and general $52,199 · fundraising $4,266

  • 9 · Other employee benefits

    total $14,684 · management and general $13,575 · fundraising $1,109

  • 11a · Fees: management

    total $10,182 · management and general $10,182

  • 11c · Fees: accounting

    total $9,409 · management and general $9,409

  • 11f · Fees: investment management

    total $31,879 · management and general $31,879

  • 13 · Office expenses

    total $19,982 · management and general $4,956 · fundraising $15,026

  • 16 · Occupancy

    total $2,608 · management and general $2,608

  • 22 · Depreciation, depletion and amortization

    total $5,779 · management and general $5,779

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $484,426 · end of year $184,435

  • 2 · Savings and temporary cash investments

    beginning of year $496,371 · end of year $239,699

  • 3 · Pledges and grants receivable

    beginning of year $104 · end of year $5,000

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

    $492,426

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

    $148,668

  • 10c · Land, buildings and equipment, net

    beginning of year $349,537 · end of year $343,758

  • 11 · Investments: publicly traded securities

    beginning of year $11,121,427 · end of year $9,800,917

  • 12 · Investments: other securities

    beginning of year $29,133,474 · end of year $23,657,079

  • 15 · Other assets

    beginning of year $319,693 · end of year $258,827

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,837 · end of year $11,899

  • 27 · Net assets without donor restrictions

    beginning of year $41,896,195 · end of year $34,477,816

Mission and programs · 2022

Mission

PUBLICLY SOLICITS & RECEIVES FUNDS FOR CHARITABLE PURPOSES, PRIMARILY FOR THE BENEFIT OF PEOPLE WITH DEVELOPMENTAL DISABILITIES. THE CONTRIBUTIONS RECEIVED HELP UNDERWRITE THE COST OF SERVICES THAT ARE NOT TRADITIONALLY SUPPORTED THROUGH PROGRAM REVENUE

Activities or mission (Part I)

RAISE & MNG FUNDS FOR SUPPORTING PRGMS TO IMPROVE THE LIVES OF PERSONS W/DEVELOPMENTAL DISABILITIES

  • PROVIDED GRANTS TO NYSARC, INC. - MONTGOMERY COUNTY CHAPTER (HEREAFTER LIBERTY ARC), A RELATED 501(C)(3) ORGANIZATION, FOR THEIR COMMUNITY CONNECTIONS, SUPPORTED EMPLOYMENT, RESIDENTIAL PROGRAM, AND 'GROUND LEVEL GRANTS'. THESE PROGRAM FUNDED INITIATIVES ADDED TO THE QUALITY OF LIFE FOR THE PEOPLE SUPPORTED BY LIBERTY ARC, INCLUDING GIVING ADULTS WITH DEVELOPMENTAL DISABILITIES AN OPPORTUNITY TO EARN MONEY AND IMPROVE EMPLOYMENT SKILLS; PROVIDING TRANSPORTATION TO AND FROM WORK SITES; AND PROVIDING PERSONAL PROTECTIVE EQUIPMENT FUNDING FOR OUR RESIDENTIAL AND DAY PROGRAMS.

    Expenses $57,408 · Grants $57,408

As filed on the 2022 return.

Listed in Part VII

  • Donna Canestraro

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Brett Harris

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sarah E Adamowski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Dicaprio

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Michael Lobb

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wanda Burling

    DIRECTOR EMERITI

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Saunders

    CEO

    Total calculated
    $322,468
    From this org
    $0
    From related orgs
    $245,074
    Other
    $77,394
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $245,074 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $37,507 related
    Nontaxable benefits
    $0 + $39,887 related
    Filer's total
    $0 + $322,468 related

  • Karl Cote

    CFO

    Total calculated
    $151,181
    From this org
    $0
    From related orgs
    $114,897
    Other
    $36,284
    Hours/week
    1 + 36.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $114,897 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $36,284 related
    Filer's total
    $0 + $151,181 related

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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
NYSARC, INC. - MONTGOMERY COUNTY CHAPTER, AN AFFILIATE OF THE REPORTING ORGANIZATION, PAID COMPENSATION TO THE REPORTING ORGANIZATION'S TOP MANAGEMENT OFFICIAL. NYSARC,INC. - MONTGOMERY COUNTY CHAPTER HAS ESTABLISHED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL USING INDEPENDENT COMPENSATION CONSULTANTS, FORM 990 OF OTHER ORGANIZATIONS, A COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART I, LINE 4B
JENNIFER SAUNDERS - $15,000

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
2022
Filed
17 October 2023
IRS schema version
2022v5.0
Source object
202322909349301412

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