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Nonprofiteer
← LEARNING SOURCE FOUNDATION

Form 990 for tax year 2022

Filed by LEARNING SOURCE FOUNDATION.

Totals

Total revenue
$142,677
Total expenses
$108,994
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$23,427
Other revenue
$119,250
Total assets, end of year
$2,710,332
Total liabilities, end of year
$1,391,566
Net assets or fund balances, end of year
$1,318,766
Program services expenses (Part IX)
$93,828
Management and general expenses
$10,654
Fundraising expenses
$4,512
Program service expenses (Part III)
$93,828

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.

  • 3 · Investment income

    total $23,427 · unrelated business $0 · excluded $23,427

  • 11a · Other revenue: LEASE REVENUE TO TLS

    total $119,250 · related or exempt $0 · unrelated business $0 · excluded $119,250

  • 11e · Other revenue, total

    $119,250

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $48,508 · program services $41,231 · management and general $4,851 · fundraising $2,426

  • 22 · Depreciation, depletion and amortization

    total $46,763 · program services $45,828 · management and general $935 · fundraising $0

  • 24a · Other expenses: FOUNDATION EXPENSES

    total $13,723 · program services $6,769 · management and general $4,868 · fundraising $2,086

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,021 · end of year $83,068

  • 4 · Accounts receivable

    beginning of year -$4,277

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

    $1,981,081

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

    $78,353

  • 10c · Land, buildings and equipment, net

    beginning of year $1,358,297 · end of year $1,902,728

  • 15 · Other assets

    beginning of year $923,234 · end of year $724,536

  • 17 · Accounts payable and accrued expenses

    beginning of year $69,058 · end of year $69,058

  • 23 · Secured mortgages and notes payable

    beginning of year $952,814 · end of year $1,322,508

  • 27 · Net assets without donor restrictions

    beginning of year $1,278,403 · end of year $1,318,766

Mission and programs · 2022

Mission

TO SUPPORT THE OPERATIONS OF THE LEARNING SOURCE, A 501(C)(3) NON-PROFIT CORPORATION, BY PROVIDING FINANCIAL ASSISTANCE.

  • TO SUPPORT THE OPERATION OF THE LEARNING SOURCE, A 501(C)(3) NON-PROFT CORPORATION,BY PROVIDING FINANCIAL ASSISTANCE.

    Expenses $93,828

As filed on the 2022 return.

Listed in Part VII

  • Amy Savich

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Anna Gallegos

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • William Lamping Jr

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Bentley Smith

    VICE PRESIDENT

    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

No itemized grants to organizations 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
8 February 2024
IRS schema version
2022v5.0
Source object
202420399349301417

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