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King Solomon Humanitarian Foundatio FY2021 filing

Bridgewater, MAUnknown exempt organizationEIN 04-6128271Revenue $48K in FY2021

On file with the IRSthebridgectr.org470 Pine Street · Bridgewater, MA

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To promote the general welfare of challenged persons. Especially challenged children, regardless of race, religion or national origin. To encourage and assist them to receive the best therapeutic and recreational services available. To promote better public understanding of their problems and cooperate with the public, private and religious agencies in the furtherance of these ends to associate with similiar organizations in this cause.

Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $163K a year · 124% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $61K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$232K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 24 voting members
Looks good: 24 of 24 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$48K
-84% vs prior year
Spent
$249K
To programs
0%
Net assets
$1.1M
By yearFY2020–FY2022
Revenue
$48K
FY2021▼ -84%
Tap a bar for its year
Revenue by fiscal year
FY2020$300K
FY2021$48K
FY2022$48K
Expenses
$249K
FY2021▼ -59%
Tap a bar for its year
Expenses by fiscal year
FY2020$602K
FY2021$249K
FY2022$35K
Net assets
$1.1M
FY2021▼ -15%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.1M
FY2022$0

From the FY2021 Form 990 (year ending September 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $249K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

24 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Neal Andelman
Board Member
$0Pt VII · Sec A
Andrew Bank
Board Member
$0Pt VII · Sec A
Barry Bernstein
Board Member
$0Pt VII · Sec A
Amanda Cort
Board Member
$0Pt VII · Sec A
Jason Cort
Board Member
$0Pt VII · Sec A
Ron Cort
Vice Preside
$0Pt VII · Sec A
John Dalimonte
Board Member
$0Pt VII · Sec A
David Deloury
Vice Preside
$0Pt VII · Sec A
See King Solomon Humanitarian Foundatio 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps challenged children access therapeutic and recreational services, promoting understanding and cooperation.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

The organization provides year round recreational therapeutic and educational activities for handicapped individuals at its facility in bridgewater, ma. These activities include a summer camp, horseback riding and other programs. The organization serves approximately 150 clients annually.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2020
Fidelity Investments Charitable Gift FundFY2020$50K
Dcu for KidsFY2020$10K
Total grants receivedfrom 2 funders$61K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$48K
Ln 12
Other incomeLn 4–11$39K
Gifts and grantsLn 1h$9K
Investment incomeLn 3$3
Money outPt IX
$249K
Ln 25
Managementcol C$249K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$42K
Total assetsLn 16$1.3M
LiabilitiesLn 26$232K
PeoplePt VI, VII
24
listed · VII A
PaidVII A0
Voting boardVI 1a24
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$9K
Investment incomeLn 3$3
Other incomeLn 4–11$39K
Total revenueLn 12$48K
Assets in detailPt X, end of year
CashLn 1$42K
Cash and savings togetherLn 1–2$42K
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$1.3M
LiabilitiesLn 26$232K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 569
VolunteersI 65
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$124K$42K
Land, buildings, equipmentLn 10c$1.4M$1.2M
Total assetsLn 16$1.6M$1.3M
LiabilitiesLn 26$277K$232K
Net assetsLn 32$1.3M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$16K$16K
Other fees for servicesLn 11g$1K$1K
Advertising and promotionLn 12$2K$2K
OccupancyLn 16$21K$21K
TravelLn 17$930$930
InterestLn 20$1K$1K
Depreciation, depletion and amortizationLn 22$180K$180K
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$12K$12K
Total functional expensesLn 25$249K$0$249K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $48K$35K$12K$0 990 PDF
FY2021 Viewing $48K$249K−$201K$1.1M 990 PDF
FY2020 $300K$602K−$302K$1.3M 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 FY2021 990 (6 parts)
Part I · Summary $47,873 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $115,063$9,091
I-9 Program service revenuePrior year $170,841$0
I-10 Investment incomePrior year $6$3
I-11 Other revenuePrior year $14,430$38,779
I-12 Total revenuePrior year $300,340$47,873
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $195,157$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $407,044$248,503
I-18 Total expensesPrior year $602,201$248,503
I-19 Revenue less expensesPrior year −$301,861−$200,630
Part VI · Governance 24 of 24 board members independent, 1 to look at
VI-1a Voting members of the governing body24
VI-1b Independent voting members24
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $47,873 across 6 lines filed
VIII-1f All other contributions, gifts and grants$9,091
VIII-1h Total contributions, gifts and grants$9,091
VIII-3 Investment incomeExcluded from tax $3$3
VIII-8 Net income from fundraising eventsExcluded from tax $12,750$12,750
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $26,029$26,029
VIII-12 Total revenueExcluded from tax $38,782$47,873
Part IX · Statement of functional expenses $248,503 across 9 lines filed
IX-11c Accounting feesManagement $15,750$15,750
IX-11g Other fees for servicesManagement $1,047$1,047
IX-12 Advertising and promotionManagement $2,447$2,447
IX-16 OccupancyManagement $20,806$20,806
IX-17 TravelManagement $930$930
IX-20 InterestManagement $1,431$1,431
IX-22 Depreciation, depletion and amortizationManagement $179,993$179,993
IX-23 InsuranceManagement $13,602$13,602
IX-24 Other expenses (24a–d)Management $12,497$12,497
IX-25 Total functional expensesPrograms $0 · Management $248,503 · Fundraising $0$248,503
Part X · Balance sheet $1,331,915 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $123,530$42,255
X-4 Accounts receivableStart of year $22,210$38,699
X-9 Prepaid expenses and deferred chargesStart of year $2,505$1,440
X-10c Land, buildings and equipment, netStart of year $1,429,513$1,249,521
X-16 Total assetsStart of year $1,577,758$1,331,915
X-17 Accounts payable and accrued expensesStart of year $107,097$64,070
X-19 Deferred revenueStart of year $27,285$25,099
X-25 Other liabilitiesStart of year $143,100$143,100
X-26 Total liabilitiesStart of year $277,482$232,269
X-27 Net assets without donor restrictionsStart of year $1,197,298$996,568
X-28 Net assets with donor restrictionsStart of year $102,978$103,078
X-32 Total net assets or fund balancesStart of year $1,300,276$1,099,646
X-33 Total liabilities and net assetsStart of year $1,577,758$1,331,915
Part XI · Reconciliation of net assets $1,099,646 net assets at year end
XI-1 Total revenue$47,873
XI-2 Total expenses$248,503
XI-3 Revenue less expenses−$200,630
XI-4 Net assets at start of year$1,300,276
XI-10 Net assets at end of year$1,099,646

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

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