Life Time Foundation FY2021 filing

Tax-deductible

Chanhassen, MN501(c)(3)EducationEIN 03-0533192Revenue $2.9M in FY2021

On file with the IRSltfoundation.org2902 Corporate Pl, 55317-4560 · Chanhassen, MNTax-exempt since Sep 2021Publicly supported charity — 170(b)(1)(A)(vi)

Tell your story. Claim this org

Lt Foundation supports changemakers that empower children to live healthy, happy lives

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$15K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $71K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$15K
to officers and key staff · 0.5% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 9.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $177K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$67K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.9M
-62% vs prior year
Spent
$2.9M
To programs
90%
Net assets
$2.7M
By yearFY2020–FY2024
Revenue
$2.9M
FY2021▼ -62%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.7M
FY2021$2.9M
FY2022$2.2M
FY2023$2.9M
FY2024$2.6M
Expenses
$2.9M
FY2021▼ -62%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.7M
FY2021$2.9M
FY2022$2.6M
FY2023$2.6M
FY2024$2.1M
Net assets
$2.7M
FY2021▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.5M
FY2021$2.7M
FY2022$2.1M
FY2023$2.1M
FY2024$2.5M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

Give Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $2.6M Management & general 5% · $144K Fundraising 5% · $139K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to fix it

Who runs it and what they're paid

10 people listed on the 990; $15K paid to officers and key staff.

Part VII, Section A · reportable compensation
Director - Board Member (start 02/03)
$14,600Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director - Board Member
$0Pt VII · Sec A
Director - Board Member
$0Pt VII · Sec A
Director - Board Member
$0Pt VII · Sec A
Director - Board Member (end 08/12)
$0Pt VII · Sec A
Director - Board Member
$0Pt VII · Sec A
Director - Board Member
$0Pt VII · Sec A

Marnie Wells’s $42K as Executive Director (end 4/23) is at the 6th percentile of top reported officer pay among 3395 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2023FY2022FY2021FY2020
Barbara Koch———$175,769
Marnie Wells$42,448$67,338——
Mechelle Freeman—$18,400$14,600—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Life Time Foundation executive salaries →

On this list? Claim this org

Something off? Claim to fix it

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Empowers children to live healthy, happy lives through changemaker support.

Questions for Life Time Foundation

Tap to ask. Life Time Foundation sees how many people are interested.

Your first name shows with your question. Life Time Foundation answers here, for everyone.

Provided by the organization

Know this org? Add your story

3 programs · $2.6M · in their own filed words · FY2021
01

Our nutrition programs work with public k-12 schools is by supporting them in serving delicious, nutrition, minimally-processed food in school. Our collaborative initiatives with school food leaders entail: providing expert guidance related to ingredients in school foods and label analysis with our green onion tool, which is a free…

$1.4Mprogram expense
02

In addition to our core focus, life time foundation operates life time lifts, a restricted fund that provides emergency assistance to employees of life time, inc. Who experience unexpected financial hardship circumstances that arise outside of their control.

$1.2Mprogram expense
03

Our youth movement programs funds projects and initiatives so that all kids, specifically those in historically underserved communities, have access to safe, fun, enriching physical activities, with the intention they will choose to stay active for life.

$8Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$177K
Grants paid · 124 grants · $14.8M · 2020–2024
American ForestsDC · FY2024$300,000
One Tree Planted INCVT · FY2024$100,000
Wellness in the Schools INCNY · FY2024$100,000
Eliassen GroupFY2024$90,959
National Farm to School NetworkCA · FY2024$61,480
The Trust for Public LandCA · FY2024$50,000
City Parks Foundation INCNY · FY2024$45,000
City Parks Foundation INCNY · FY2024$40,000
Sugi FoundationCA · FY2024$38,000
Swan Solutions LLCFY2024$35,063
Minneapolis Public SchoolsFY2024$29,500
Laveen Elementary School DistrictFY2024$18,138
The Morton ArboretumIL · FY2024$16,000
City Parks Foundation INCNY · FY2024$15,000
See all 124 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$2.9M
Ln 12
Gifts and grantsLn 1h$2.9M
Other incomeLn 4–11$4K
Money outPt IX
$2.9M
Ln 25
Programscol B$2.6M
Managementcol C$144K
Fundraisingcol D$139K
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$2.3M
Total assetsLn 16$2.8M
LiabilitiesLn 26$67K
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.9M
Other incomeLn 4–11$4K
Total revenueLn 12$2.9M
Assets in detailPt X, end of year
CashLn 1$2.3M
Cash and savings togetherLn 1–2$2.3M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$2.8M
LiabilitiesLn 26$67K
Net assetsLn 32$2.7M
OperationsPt I, VI
EmployeesI 54
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$2.4M$2.3M
Land, buildings, equipmentLn 10c$1K$0
Total assetsLn 16$2.6M$2.8M
LiabilitiesLn 26$83K$67K
Net assetsLn 32$2.5M$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.3M$1.3M
Grants to domestic individualsLn 2$1.2M$1.2M
Other salaries and wagesLn 7$258K$115K$83K$60K
Other employee benefitsLn 9$5K$2K$2K$1K
Payroll taxesLn 10$41K$18K$13K$9K
Legal feesLn 11b$325$325
Accounting feesLn 11c$17K$17K
Other fees for servicesLn 11g$18K$15K$2K
Advertising and promotionLn 12$41K$6K$4K$32K
Office expensesLn 13$198$50$148
Information technologyLn 14$13K$13K−$5
TravelLn 17$2K$871$53$1K
Conferences, conventions and meetingsLn 19$399$399
Depreciation, depletion and amortizationLn 22$1K$1K
Other expenses (24a–d)Ln 24$41K$19$10K$32K
All other expensesLn 24e$4K$2K$2K
Total functional expensesLn 25$2.9M$2.6M$144K$139K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.6M$2.1M$506K$2.5M 990 PDF
FY2023 $2.9M$2.6M$236K$2.1M 990 PDF
FY2022 $2.2M$2.6M−$337K$2.1M 990 PDF
FY2021 Viewing $2.9M$2.9M−$26K$2.7M 990 PDF
FY2020 $7.7M$7.7M−$22K$2.5M 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $2,904,635 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $7,637,854$2,900,344
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $22,000$4,291
I-12 Total revenuePrior year $7,659,854$2,904,635
I-13 Grants and similar amounts paidPrior year $7,268,172$2,489,549
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $302,092$303,008
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $112,051$137,590
I-18 Total expensesPrior year $7,682,315$2,930,147
I-19 Revenue less expensesPrior year −$22,461−$25,512
Part VI · Governance 8 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members8
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,904,635 across 4 lines filed
VIII-1f All other contributions, gifts and grants$2,900,344
VIII-1h Total contributions, gifts and grants$2,900,344
VIII-8 Net income from fundraising eventsExcluded from tax $4,291$4,291
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $4,291$2,904,635
Part IX · Statement of functional expenses $2,930,147 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $1,279,093$1,279,093
IX-2 Grants to domestic individualsPrograms $1,210,456$1,210,456
IX-7 Other salaries and wagesPrograms $114,912 · Management $83,046 · Fundraising $59,564$257,522
IX-9 Other employee benefitsPrograms $2,163 · Management $1,661 · Fundraising $1,101$4,925
IX-10 Payroll taxesPrograms $18,099 · Management $13,080 · Fundraising $9,382$40,561
IX-11b Legal feesManagement $325$325
IX-11c Accounting feesManagement $16,744$16,744
IX-11g Other fees for servicesPrograms $15,162 · Fundraising $2,387$17,549
IX-12 Advertising and promotionPrograms $5,986 · Management $3,665 · Fundraising $31,611$41,262
IX-13 Office expensesPrograms $50 · Management $148$198
IX-14 Information technologyManagement $12,762 · Fundraising −$5$12,757
IX-17 TravelPrograms $871 · Management $53 · Fundraising $1,180$2,104
IX-19 Conferences, conventions and meetingsPrograms $399$399
IX-22 Depreciation, depletion and amortizationManagement $1,200$1,200
IX-24 Other expenses (24a–d)Programs $19 · Management $9,733 · Fundraising $31,570$41,322
IX-24e All other expensesManagement $1,929 · Fundraising $1,801$3,730
IX-25 Total functional expensesPrograms $2,647,210 · Management $144,346 · Fundraising $138,591$2,930,147
Part X · Balance sheet $2,791,059 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $2,427,218$2,262,612
X-3 Pledges and grants receivableStart of year $171,260$515,025
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $9,163$12,922
X-9 Prepaid expenses and deferred chargesStart of year $5,922$500
X-10c Land, buildings and equipment, netStart of year $1,200$0
X-16 Total assetsStart of year $2,614,763$2,791,059
X-17 Accounts payable and accrued expensesStart of year $49,962$40,287
X-18 Grants payableStart of year $33,285$26,675
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $83,247$66,962
X-27 Net assets without donor restrictionsStart of year $1,825,891$1,800,379
X-28 Net assets with donor restrictionsStart of year $705,625$923,718
X-32 Total net assets or fund balancesStart of year $2,531,516$2,724,097
X-33 Total liabilities and net assetsStart of year $2,614,763$2,791,059
Part XI · Reconciliation of net assets $2,724,097 net assets at year end
XI-1 Total revenue$2,904,635
XI-2 Total expenses$2,930,147
XI-3 Revenue less expenses−$25,512
XI-4 Net assets at start of year$2,531,516
XI-9 Other changes in net assets$218,093
XI-10 Net assets at end of year$2,724,097

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.