Frvbc Foundation

Tax-deductible

Englewood, CO501(c)(3)Since 2004Recreation & SportsEIN 20-2138865Revenue $224K in FY2024

On file with the IRS8480 Upland Drivesuite 100, 80112-0000 · Englewood, COTax-exempt since Sep 2006Publicly supported — 509(a)(2)

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To provide financial assistance for families in need of assistance for skills camps as well as participation in the front range volleyball club. This includes offering camps at no cost for players.

501(c)(3) charity; gifts are tax-deductible.
64¢ of each $1 spent went to programs.
Run by 4 volunteers and 1 employee.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
1 of 5
filings with a surplus
Average deficit $315K a year · 62% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$88K
to officers and key staff · 51% of spending
Top officer’s pay higher than 88% of similar orgs
Concern: pay to officers and key staff is 51% of spending; over 30%.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $369K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$86
0.02% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$224K
-68% vs prior year
Spent
$172K
To programs
64%
Net assets
$386K
By yearFY2020–FY2024
Revenue
$224K
FY2024▼ -68%
Tap a bar for its year
Revenue by fiscal year
FY2020$656K
FY2021$625K
FY2022$215K
FY2023$357K
FY2024$708K
FY2024$224K
Expenses
$172K
FY2024▼ -48%
Tap a bar for its year
Expenses by fiscal year
FY2020$997K
FY2021$1.1M
FY2022$1.2M
FY2023$514K
FY2024$333K
FY2024$172K
Net assets
$386K
FY2024▲ +16%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.5M
FY2021$1.0M
FY2022$81K
FY2023−$76K
FY2024$332K
FY2024$386K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2006.

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

Where the money goes

64 cents of each dollar spent went to programs.

Program services 64% · $110K Management & general 36% · $62K

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

4 people listed on the 990; $88K paid to officers and key staff.

Part VII, Section A · reportable compensation
Board Member
$87,500Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

James Miret’s $88K as Board Member is at the 88th percentile of top reported officer pay among 1016 $100K–1M recreation & sports 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Kathleen K Rogness—————$175,678
James Miret$87,500$175,000————
James K Miret——$134,615$168,269$46,944$159,100

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 Frvbc 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 15aNo

Programs and updates

Fund youth development programs and grant funds to a Front Range volleyball club.

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Provided by the organization

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1 program · $110K · in their own filed words · FY2024
01

FRVBC foundation provides financial assistance to families in need to ensure that young athletes have access to high-quality volleyball training and development opportunities. Through this initiative, eligible participants receive support to attend skills camps and participate in programs offered by the front range volleyball club.

$110Kprogram 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 · FY2023
Total grants receivedfrom 1 funder$369K
Grants paid · 4 grants · $1.4M · 2019–2022

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$224K
Ln 12
Investment incomeLn 3$217K
Fees for servicesLn 2g$8K
Money outPt IX
$172K
Ln 25
Programscol B$110K
Managementcol C$62K
Owns and owesPt X
$386K
net assets · Ln 32
Cash and savingsLn 1–2$68K
Total assetsLn 16$386K
LiabilitiesLn 26$86
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$8K
Investment incomeLn 3$217K
Gains on assetsLn 7$216K
Total revenueLn 12$224K
Assets in detailPt X, end of year
CashLn 1$57K
SavingsLn 2$11K
Cash and savings togetherLn 1–2$68K
Other assetsLn 15$224K
Total assetsLn 16$386K
LiabilitiesLn 26$86
Net assetsLn 32$386K
OperationsPt I, VI
EmployeesI 51
VolunteersI 64
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$17K$68K
Total assetsLn 16$335K$386K
LiabilitiesLn 26$3K$86
Net assetsLn 32$332K$386K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$150K$100K$49K
Payroll taxesLn 10$12K$8K$4K
Accounting feesLn 11c$2K$1K$878
Office expensesLn 13$5K$5K
Information technologyLn 14$2K$2K
Other expenses (24a–d)Ln 24$1K$405$668
Total functional expensesLn 25$172K$110K$62K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $708K$333K$375K$332K 990 PDF
FY2023 $357K$514K−$158K−$76K 990 PDF
FY2022 $215K$1.2M−$965K$81K 990 PDF
FY2021 $625K$1.1M−$488K$1.0M 990 PDF
FY2020 $656K$997K−$341K$1.5M 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 FY2024 990 (6 parts)
Part I · Summary $224,366 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $368,973$0
I-9 Program service revenuePrior year $50,470$7,863
I-10 Investment incomePrior year $288,464$216,503
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $707,907$224,366
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $212,322$161,399
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $120,661$10,684
I-18 Total expensesPrior year $332,983$172,083
I-19 Revenue less expensesPrior year $374,924$52,283
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $224,366 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,863$7,863
VIII-3 Investment incomeExcluded from tax $3$3
VIII-7 Net gain or loss on sales of assetsExcluded from tax $216,500$216,500
VIII-12 Total revenueRelated to mission $7,863 · Unrelated business $0 · Excluded from tax $216,503$224,366
Part IX · Statement of functional expenses $172,083 across 6 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $100,165 · Management $49,335$149,500
IX-10 Payroll taxesPrograms $7,971 · Management $3,928$11,899
IX-11c Accounting feesPrograms $1,120 · Management $878$1,998
IX-13 Office expensesManagement $5,462$5,462
IX-14 Information technologyManagement $2,151$2,151
IX-24 Other expenses (24a–d)Programs $405 · Management $668$1,073
IX-25 Total functional expensesPrograms $109,661 · Management $62,422 · Fundraising $0$172,083
Part X · Balance sheet $386,201 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $5,999$56,921
X-2 Savings and temporary cash investmentsStart of year $10,984$10,986
X-9 Prepaid expenses and deferred chargesStart of year $61,050$61,050
X-14 Intangible assetsStart of year $33,428$33,428
X-15 Other assetsStart of year $223,816$223,816
X-16 Total assetsStart of year $335,277$386,201
X-17 Accounts payable and accrued expensesStart of year $3,398$86
X-26 Total liabilitiesStart of year $3,398$86
X-27 Net assets without donor restrictionsStart of year $331,879$386,115
X-32 Total net assets or fund balancesStart of year $331,879$386,115
X-33 Total liabilities and net assetsStart of year $335,277$386,201
Part XI · Reconciliation of net assets $386,115 net assets at year end
XI-1 Total revenue$224,366
XI-2 Total expenses$172,083
XI-3 Revenue less expenses$52,283
XI-4 Net assets at start of year$331,879
XI-8 Prior period adjustments$1,953
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$386,115

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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