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← THE MARTIN J LAFOLEY FOUNDATION 30-1190-00

Form 990 for tax year 2023

Filed by THE MARTIN J LAFOLEY FOUNDATION 30-1190-00.

Totals

Total revenue
$13,033
Total expenses
$15,922
Contributions and grants received
$2,750
Grants paid
$10,075
Program service revenue
$0
Investment income
$10,283
Other revenue
$0
Total assets, end of year
$601,037
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$601,037
Program services expenses (Part IX)
$10,216
Management and general expenses
$5,706
Fundraising expenses
$0
Program service expenses (Part III)
$10,216

Program services were 64.2% 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

    $2,750

  • 3 · Investment income

    total $22,646 · excluded $22,646

  • 7a · Gross sales of assets other than inventory

    securities $86,553

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

    securities $98,916

  • 7c · Gain or loss

    securities -$12,363

  • 7d · Net gain or loss

    total -$12,363 · excluded -$12,363

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,075 · program services $10,075

  • 11c · Fees: accounting

    total $1,850 · management and general $1,850

  • 11f · Fees: investment management

    total $3,820 · management and general $3,820

  • 11g · Fees: other

    total $36 · management and general $36

  • 13 · Office expenses

    total $69 · program services $69

  • 24a · Other expenses: POSTAGE

    total $72 · program services $72

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $24,497 · end of year $30,414

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

    $1,299

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

    $1,299

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $488,797 · end of year $570,623

  • 29 · Capital stock, trust principal or current funds

    beginning of year $513,294 · end of year $601,037

  • 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 · 2023

Mission

TO PROVIDE SCHOLARSHIPS AND FINANCIAL AID TO WORTHY STUDENTS WHO EXEMPLIFY THE DESIRE TO EXCEL IN ACADEMICS, SOCIAL VALUES AND AMATEUR ATHLETICS.

  • GRANTS ARE MADE TO VARIOUS ORGANIZATIONS THAT SERVE STUDENTS OF SECONDARY SCHOOL AGE IN SPECIAL NEEDS, ACHIEVING EDUCATIONAL GOALS OR ACHIEVING AMATEUR ATHLETIC GOALS AND TO ATHLETIC OR SPECIAL NEEDS PROGRAMS, INCLUDING SKI PROGRAMS, FOR STUDENTS.

    Expenses $10,216 · Grants $10,075

As filed on the 2023 return.

Listed in Part VII

  • William Cook

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Beverly Lafoley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

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
2023
Filed
30 January 2025
IRS schema version
2023v6.0
Source object
202530309349300833

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