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Nonprofiteer
← BBFG FOUNDATION INC

Form 990 for tax year 2023

Filed by BBFG FOUNDATION INC.

Totals

Total revenue
$3,242,787
Total expenses
$1,566,462
Contributions and grants received
$2,903,623
Grants paid
$28,000
Program service revenue
$0
Investment income
$1,927
Other revenue
$337,237
Total assets, end of year
$1,767,146
Total liabilities, end of year
$35,151
Net assets or fund balances, end of year
$1,731,995
Program services expenses (Part IX)
$1,349,137
Management and general expenses
$217,325
Fundraising expenses
$0
Program service expenses (Part III)
$1,349,137

Program services were 86.1% 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

    $2,903,623

  • 1g · Noncash contributions included above

    $361,535

  • 3 · Investment income

    total $404 · excluded $404

  • 7a · Gross sales of assets other than inventory

    securities $363,058

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

    securities $361,535

  • 7c · Gain or loss

    securities $1,523

  • 7d · Net gain or loss

    total $1,523 · excluded $1,523

  • 8a · Fundraising events: gross income

    $261,737

  • 8b · Fundraising events: direct expenses

    $35,160

  • 8c · Net income from fundraising events

    total $226,577 · excluded $226,577

  • 11a · Other revenue: OTHER REVENUE

    total $110,660 · excluded $110,660

  • 11e · Other revenue, total

    $110,660

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $18,000 · program services $18,000

  • 3 · Grants to foreign organizations and individuals

    total $10,000 · program services $10,000

  • 5 · Compensation of officers, directors and key employees

    total $45,385 · management and general $45,385

  • 7 · Other salaries and wages

    total $32,965 · management and general $32,965

  • 10 · Payroll taxes

    total $4,077 · management and general $4,077

  • 11b · Fees: legal

    total $25,890 · management and general $25,890

  • 11c · Fees: accounting

    total $20,515 · management and general $20,515

  • 11g · Fees: other

    total $1,208,073 · program services $1,201,950 · management and general $6,123

  • 12 · Advertising and promotion

    total $104 · management and general $104

  • 13 · Office expenses

    total $1,961 · management and general $1,961

  • 14 · Information technology

    total $4,294 · management and general $4,294

  • 17 · Travel

    total $5,356 · management and general $5,356

  • 23 · Insurance

    total $36,465 · management and general $36,465

  • 24a · Other expenses: EVENT EXPENSES

    total $119,187 · program services $119,187

  • 24e · All other expenses

    total $34,190 · management and general $34,190

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $78,472 · end of year $1,402,284

  • 2 · Savings and temporary cash investments

    end of year $312,722

  • 4 · Accounts receivable

    end of year $404

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,926 · end of year $1,804

  • 11 · Investments: publicly traded securities

    end of year $49,932

  • 17 · Accounts payable and accrued expenses

    beginning of year $30,728 · end of year $35,151

  • 27 · Net assets without donor restrictions

    beginning of year $55,670 · end of year $819,735

  • 28 · Net assets with donor restrictions

    end of year $912,260

Mission and programs · 2023

Mission

HELPING TO SUPPORT UCONN STUDENT ATHLETES BY PROVIDING INCOME EARNING OPPORTUNITIES THAT ASSIST CHARITABLE CAUSES, INCLUDING INTERACTIONS WITH YOUTHS FROM LOW-INCOME FAMILIES IN THE STATE OF CONNECTICUT FOR WHOM THE STUDENT ATHLETES SERVE AS ROLE MODELS.

Activities or mission (Part I)

PROVIDE UCONN STUDENT ATHLETES' SERVICES & MAKE FINANCIAL DONATIONS TO YOUTH CHARITIES IN CT.

  • BLEEDING BLUE FOR GOOD FUND (BBGF) WILL PROVIDE TAX-EXEMPT CHARITABLE ORGANIZATIONS WITH GRANTS AND STUDENT ATHLETE IN-KIND CONTRIBUTIONS OF SPORTS AND PHYSICAL EDUCATION, COMMUNICATION, MARKETING, SPEAKING, EVENT, AND PUBLIC RELATIONS SERVICES SO THAT SERVED ORGANIZATIONS CAN EXPAND THE REACH AND EFFECTIVENESS OF THEIR EXEMPT ACTIVITIES, BETTER SERVE THEIR CONSTITUENTS, AND BETTER ACHIEVE THEIR EXEMPT PURPOSES. BY DEPLOYING INTERCOLLEGIATE ATHLETES AND THE NAMES, IMAGES, AND LIKENESSES OF INTERCOLLEGIATE ATHLETES, BBGF'S SERVICES WILL INCREASE THE CONSTITUENT ORGANIZATIONS' VISIBILITY AND REACH IN THEIR COMMUNITIES AS WELL AS PROVIDE UNIQUE ATHLETIC AND PHYSICAL EDUCATION TO BENEFICIARIES SERVED BY CONSTITUENT ORGANIZATIONS, (SEE SCHEDULE O) RAISE AWARENESS OF THE NEED OF BENEFICIARIES SERVED BY CONSTITUENT ORGANIZATIONS, ATTRACT DONORS AND VOLUNTEERS TO CONSTITUENT ORGANIZATIONS, AND ENHANCE THE CONSTITUENT ORGANIZATIONS' RELATIONSHIPS AMONG SERVED POPULATIONS. EXAMPLES OF BBGF'S SERVICES USING THE NAME, IMAGE, SPEAKING, AND LIKENESS OF INTERCOLLEGIATE ATHLETES AND INTERCOLLEGIATE ATHLETES THEMSELVES INCLUDE, BUT ARE NOT LIMITED TO, HOLDING ATHLETIC SKILL CAMPS AND PHYSICAL EDUCATION EVENTS, CONDUCTING CHARITABLE ACTIVITIES AND EVENTS, AND PROVIDING THE SERVICES OF INTERCOLLEGIATE ATHLETES AS ORGANIZATIONAL SPOKESPERSONS, MOTIVATIONAL SPEAKERS, GROUP SPEAKERS, AND ADVISORS ON RELATIONSHIPS WITH AND NEEDS OF SERVED POPULATIONS.

    Expenses $1,349,137 · Grants $28,000

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

Listed in Part VII

  • Kalana Greene

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Michael Cantor

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • John P Malfettone

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Rasool Ahmed

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Mike Burton

    VICE PRESIDENT (AS OF 11/23)

    Total calculated
    $0
    Hours/week
    2

  • Ben Renshaw

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Jared Thomas

    EXECUTIVE DIRECTOR

    Total calculated
    $45,385
    From this org
    $45,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Len Lasalandra

    CFO

    Total calculated
    $0
    Hours/week
    20

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349310289

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