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← LOCAL FIRST EDUCATIONAL FOUNDATION

Form 990 for tax year 2023

Filed by LOCAL FIRST EDUCATIONAL FOUNDATION.

Totals

Total revenue
$506,027
Total expenses
$657,928
Contributions and grants received
$282,487
Grants paid
$247,873
Program service revenue
$238,000
Investment income
$0
Other revenue
-$14,460
Total assets, end of year
$61,474
Total liabilities, end of year
$1,750
Net assets or fund balances, end of year
$59,724
Program services expenses (Part IX)
$447,117
Management and general expenses
$125,072
Fundraising expenses
$85,739
Program service expenses (Part III)
$447,117

Program services were 68.0% 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

    $49,367

  • 1f · All other contributions, gifts and grants

    $233,120

  • 2a · Program service revenue: SUSTAINABLE BIZ EDUCAT

    total $238,000 · related or exempt $238,000

  • 8a · Fundraising events: gross income

    $0

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

    $49,367

  • 8b · Fundraising events: direct expenses

    $14,460

  • 8c · Net income from fundraising events

    total -$14,460 · excluded -$14,460

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $247,873 · program services $247,873

  • 11a · Fees: management

    total $317,329 · program services $163,107 · management and general $77,111 · fundraising $77,111

  • 11c · Fees: accounting

    total $12,241 · management and general $12,241

  • 11g · Fees: other

    total $32,915 · program services $20,559 · management and general $12,356

  • 16 · Occupancy

    total $4,754 · management and general $2,377 · fundraising $2,377

  • 17 · Travel

    total $216 · program services $216

  • 22 · Depreciation, depletion and amortization

    total $16,206 · management and general $16,206

  • 23 · Insurance

    total $2,417 · management and general $2,417

  • 24a · Other expenses: EDUCATIONAL PROGRAMS

    total $9,998 · program services $6,075 · management and general $511 · fundraising $3,412

  • 24b · Other expenses: MARKETING & DESIGN

    total $8,540 · program services $5,825 · fundraising $2,715

  • 24c · Other expenses: TELEPHONE

    total $5,101 · program services $3,402 · management and general $1,699

  • 24d · Other expenses: SERVICE CHARGES

    total $154 · management and general $154

  • 24e · All other expenses

    total $184 · program services $60 · fundraising $124

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,831 · end of year $20,725

  • 4 · Accounts receivable

    beginning of year $2,000 · end of year $5,000

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

    $93,503

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

    $57,754

  • 10c · Land, buildings and equipment, net

    beginning of year $40,287 · end of year $35,749

  • 15 · Other assets

    beginning of year $151,347 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,840 · end of year $1,750

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $211,625 · end of year $59,724

Mission and programs · 2023

Mission

WE LEAD THE DEVELOPMENT OF AN ECONOMY GROUNDED IN LOCAL OWNERSHIP THAT MEETS THE BASIC NEEDS OF PEOPLE, BUILDS LOCAL WEALTH AND SOCIAL CAPITAL, FUNCTIONS IN HARMONY WITH OUR ECOSYSTEM, AND ENCOURAGES JOYFUL COMMUNITY.

Activities or mission (Part I)

TO PROVIDE BUSINESS EDUCATION TO LOCAL BUSINESSES

  • LOCAL FIRST EDUCATION FOUNDATION CONDUCTS COMMUNITY EDUCATION EVENTS, INCLUDING OUR GOOD FOR MICHIGAN PROGRAM, TO EDUCATE BUSINESS ON HOW TO IMPROVE THEIR, SOCIAL, ENVIRONMENTAL AND EMPLOYEE IMPACT, AND WE FACILITATE CONVERSATIONS ABOUT LOCAL OWNERSHIP AND LOCAL INVESTMENT BUILDS A MORE RESILIENT ECONOMY

    Expenses $199,244 · Revenue $238,000

  • LOCAL FIRST EDUCATION FOUNDATION WORKS WITH LOCAL BUSINESS TO HELP EDUCATE AND IMPLEMENT SUSTAINABLE BUSINESS PRACTICES AND HOW THESE PRACTICE BUILD THE COMPONENTS OF A MORE SUSTAINABLE ECONOMY.

    Expenses $247,873 · Grants $247,873

As filed on the 2023 return.

Listed in Part VII

  • CHRISTINE LINDEMAN

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • ALEX PAGE

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • SETH GETZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JASON WHEELER

    TREASURER

    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

  • LOCAL FIRST OF WEST MICHIGAN

    $247,873

    TO HOLD COMPREHENSIVE COMMUNITY OUTREACH, EDUCATIONAL WORKSHOPS, AND WORK TOWARD LESSENING ECONOMIC DISPARITIES AND CREATE AND RETAIN LOCAL JOBS AND RESOURCES.

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2024
IRS schema version
2023v5.0
Source object
202431319349303283

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