Life Time Foundation FY2022 filing

Tax-deductible

Chanhassen, MN501(c)(3)EducationEIN 03-0533192Revenue $2.2M in FY2022

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

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

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$86K 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

FY2022 · 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
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$86K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 10.1 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
$85K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.2M
-23% vs prior year
Spent
$2.6M
To programs
83%
Net assets
$2.1M
By yearFY2020–FY2024
Revenue
$2.2M
FY2022▼ -23%
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
$2.6M
FY2022▼ -12%
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
$2.1M
FY2022▼ -22%
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 FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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

83 cents of each dollar spent went to programs.

Program services 83% · $2.1M Management & general 9% · $231K Fundraising 8% · $218K

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

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Who runs it and what they're paid

10 people listed on the 990; $86K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$67,338Pt VII · Sec A
Director - Board Member
$18,400Pt 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
$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 →

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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

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Provided by the organization

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3 programs · $2.1M · in their own filed words · FY2022
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 online…

$1.1Mprogram expense
02

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.

$687Kprogram expense
03

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 group holdings, inc. Who experience unexpected financial hardship circumstances that arise outside of their control.

$330Kprogram 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 FY2022 990, line by line.

1The main four
Money inPt VIII
$2.2M
Ln 12
Gifts and grantsLn 1h$2.2M
Other incomeLn 4–11$33K
Money outPt IX
$2.6M
Ln 25
Programscol B$2.1M
Managementcol C$231K
Fundraisingcol D$218K
Owns and owesPt X
$2.1M
net assets · Ln 32
Cash and savingsLn 1–2$2.2M
Total assetsLn 16$2.2M
LiabilitiesLn 26$85K
PeoplePt VI, VII
10
listed · VII A
PaidVII A2
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.2M
Fundraising eventsLn 1c$7K
Other incomeLn 4–11$33K
Total revenueLn 12$2.2M
Assets in detailPt X, end of year
CashLn 1$2.2M
Cash and savings togetherLn 1–2$2.2M
Total assetsLn 16$2.2M
LiabilitiesLn 26$85K
Net assetsLn 32$2.1M
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 FY22End FY22
Cash and savingsLn 1–2$2.3M$2.2M
Total assetsLn 16$2.8M$2.2M
LiabilitiesLn 26$67K$85K
Net assetsLn 32$2.7M$2.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.6M$1.6M
Grants to domestic individualsLn 2$330K$330K
Pay of current officers, directors and key staffLn 5$67K$20K$26K$22K
Other salaries and wagesLn 7$310K$147K$72K$91K
Other employee benefitsLn 9$6K$3K$2K$2K
Payroll taxesLn 10$59K$26K$15K$18K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$19K$19K
Other fees for servicesLn 11g$64K$27K$37K
Advertising and promotionLn 12$45K$9K$9K$26K
Office expensesLn 13$756$147$570$39
Information technologyLn 14$22K$30$22K
TravelLn 17$10K$8K$2K$22
Conferences, conventions and meetingsLn 19$4K$4K$325
Other expenses (24a–d)Ln 24$74K$119$15K$59K
All other expensesLn 24e$8K$8K$155
Total functional expensesLn 25$2.6M$2.1M$231K$218K

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 Viewing $2.2M$2.6M−$337K$2.1M 990 PDF
FY2021 $2.9M$2.9M−$26K$2.7M 990 PDF
FY2020 $7.7M$7.7M−$22K$2.5M 990 PDF

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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 FY2022 990 (6 parts)
Part I · Summary $2,241,928 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,900,344$2,208,648
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $4,291$33,280
I-12 Total revenuePrior year $2,904,635$2,241,928
I-13 Grants and similar amounts paidPrior year $2,489,549$1,886,127
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $303,008$442,775
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $137,590$250,172
I-18 Total expensesPrior year $2,930,147$2,579,074
I-19 Revenue less expensesPrior year −$25,512−$337,146
Part VI · Governance 7 of 8 board members independent, 2 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
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 $2,241,928 across 6 lines filed
VIII-1c Fundraising events$6,805
VIII-1f All other contributions, gifts and grants$2,201,843
VIII-1h Total contributions, gifts and grants$2,208,648
VIII-8 Net income from fundraising eventsExcluded from tax −$3,242−$3,242
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $36,522$36,522
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $33,280$2,241,928
Part IX · Statement of functional expenses $2,579,074 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $1,555,942$1,555,942
IX-2 Grants to domestic individualsPrograms $330,185$330,185
IX-5 Pay of current officers, directors and key staffPrograms $19,640 · Management $25,813 · Fundraising $21,885$67,338
IX-7 Other salaries and wagesPrograms $147,327 · Management $72,286 · Fundraising $90,673$310,286
IX-9 Other employee benefitsPrograms $2,554 · Management $1,501 · Fundraising $1,621$5,676
IX-10 Payroll taxesPrograms $26,297 · Management $15,420 · Fundraising $17,758$59,475
IX-11b Legal feesManagement $2,561$2,561
IX-11c Accounting feesManagement $19,456$19,456
IX-11g Other fees for servicesPrograms $27,036 · Management $37,305$64,341
IX-12 Advertising and promotionPrograms $9,293 · Management $9,231 · Fundraising $26,479$45,003
IX-13 Office expensesPrograms $147 · Management $570 · Fundraising $39$756
IX-14 Information technologyPrograms $30 · Management $22,404$22,434
IX-17 TravelPrograms $7,986 · Management $1,798 · Fundraising $22$9,806
IX-19 Conferences, conventions and meetingsPrograms $3,857 · Management $325$4,182
IX-24 Other expenses (24a–d)Programs $119 · Management $14,834 · Fundraising $59,008$73,961
IX-24e All other expensesManagement $7,517 · Fundraising $155$7,672
IX-25 Total functional expensesPrograms $2,130,413 · Management $231,021 · Fundraising $217,640$2,579,074
Part X · Balance sheet $2,205,014 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $2,262,612$2,166,220
X-3 Pledges and grants receivableStart of year $515,025$31,091
X-8 Inventories for sale or useStart of year $12,922$0
X-9 Prepaid expenses and deferred chargesStart of year $500$7,703
X-16 Total assetsStart of year $2,791,059$2,205,014
X-17 Accounts payable and accrued expensesStart of year $40,287$84,592
X-18 Grants payableStart of year $26,675$0
X-26 Total liabilitiesStart of year $66,962$84,592
X-27 Net assets without donor restrictionsStart of year $1,800,379$1,463,233
X-28 Net assets with donor restrictionsStart of year $923,718$657,189
X-32 Total net assets or fund balancesStart of year $2,724,097$2,120,422
X-33 Total liabilities and net assetsStart of year $2,791,059$2,205,014
Part XI · Reconciliation of net assets $2,120,422 net assets at year end
XI-1 Total revenue$2,241,928
XI-2 Total expenses$2,579,074
XI-3 Revenue less expenses−$337,146
XI-4 Net assets at start of year$2,724,097
XI-9 Other changes in net assets−$266,529
XI-10 Net assets at end of year$2,120,422

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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