Frvbc Foundation FY2021 filing

Tax-deductible

Englewood, CO501(c)(3)Since 2004Recreation & SportsEIN 20-2138865Revenue $625K in FY2021

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.
80¢ of each $1 spent went to programs.
$47K 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
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
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$47K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 11.5 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
$211K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$625K
-5% vs prior year
Spent
$1.1M
To programs
80%
Net assets
$1.0M
By yearFY2020–FY2024
Revenue
$625K
FY2021▼ -5%
Tap a bar for its year
Revenue by fiscal year
FY2020$656K
FY2021$625K
FY2022$215K
FY2023$357K
FY2024$708K
FY2024$224K
Expenses
$1.1M
FY2021▲ +12%
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
$1.0M
FY2021▼ -32%
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 FY2021 Form 990 (year ending September 2021) · see the original

990 PDF 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 2006.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $891K Management & general 20% · $220K Fundraising 0% · $2K

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; $47K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Board Member
$46,944Pt 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.

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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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2 programs · $891K · in their own filed words · FY2020
01

Youth Development Programs, General/Other

Grants to front range volleyball club, inc. For the furtherance of the tax exempt purpose of that organization. FRVBC foundation provides services to approximately 3,000 athlete participates via volleyball tournaments.

$636Kprogram expense
02

The organization developed proprietary software for managing the crossroads tournament. The software is used to manage other tournaments as well.

$255Kprogram 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 FY2021 990, line by line.

1The main four
Money inPt VIII
$625K
Ln 12
Other incomeLn 4–11$525K
Fees for servicesLn 2g$55K
Gifts and grantsLn 1h$43K
Money outPt IX
$1.1M
Ln 25
Programscol B$891K
Managementcol C$220K
Fundraisingcol D$2K
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$1.3M
LiabilitiesLn 26$211K
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$43K
Government grantsLn 1e$43K
Fees for servicesLn 2g$55K
Investment incomeLn 3$2K
Other incomeLn 4–11$525K
Total revenueLn 12$625K
Assets in detailPt X, end of year
CashLn 1$49K
SavingsLn 2$1.0M
Cash and savings togetherLn 1–2$1.1M
Total assetsLn 16$1.3M
LiabilitiesLn 26$211K
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 51
VolunteersI 64
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$1.8M$1.1M
Total assetsLn 16$1.8M$1.3M
LiabilitiesLn 26$224K$211K
Net assetsLn 32$1.5M$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$607K$607K
Pay of current officers, directors and key staffLn 5$47K$40K$5K$2K
Other salaries and wagesLn 7$41K$24K$17K
Other employee benefitsLn 9$33K$33K
Payroll taxesLn 10$7K$5K$1K
Legal feesLn 11b$50K$50K
Accounting feesLn 11c$9K$9K
Other fees for servicesLn 11g$253K$166K$87K
Office expensesLn 13$5K$5K
Information technologyLn 14$10K$10K
TravelLn 17$4K$4K
InterestLn 20$333$333
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$44K$35K$9K
All other expensesLn 24e$1K$1K
Total functional expensesLn 25$1.1M$891K$220K$2K

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 Viewing $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 FY2021 990 (6 parts)
Part I · Summary $625,440 revenue, 12 lines filed
I-8 Contributions and grants$42,600
I-9 Program service revenuePrior year $50,647$55,200
I-10 Investment incomePrior year −$15,029$2,239
I-11 Other revenuePrior year $620,123$525,401
I-12 Total revenuePrior year $655,741$625,440
I-13 Grants and similar amounts paidPrior year $431,913$606,602
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $247,402$128,238
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $317,600$378,195
I-18 Total expensesPrior year $996,915$1,113,035
I-19 Revenue less expensesPrior year −$341,174−$487,595
Part VI · Governance 4 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $625,440 across 6 lines filed
VIII-1e Government grants$42,600
VIII-1h Total contributions, gifts and grants$42,600
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $55,200$55,200
VIII-3 Investment incomeRelated to mission $2,239$2,239
VIII-8 Net income from fundraising events$525,401
VIII-12 Total revenueRelated to mission $57,439$625,440
Part IX · Statement of functional expenses $1,113,035 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $606,602$606,602
IX-5 Pay of current officers, directors and key staffPrograms $39,903 · Management $4,694 · Fundraising $2,347$46,944
IX-7 Other salaries and wagesPrograms $24,417 · Management $16,668$41,085
IX-9 Other employee benefitsManagement $33,487$33,487
IX-10 Payroll taxesPrograms $5,392 · Management $1,330$6,722
IX-11b Legal feesManagement $49,949$49,949
IX-11c Accounting feesManagement $9,356$9,356
IX-11g Other fees for servicesPrograms $166,146 · Management $86,800$252,946
IX-13 Office expensesManagement $4,538$4,538
IX-14 Information technologyPrograms $9,880$9,880
IX-17 TravelPrograms $3,533$3,533
IX-20 InterestManagement $333$333
IX-23 InsuranceManagement $2,683$2,683
IX-24 Other expenses (24a–d)Programs $35,000 · Management $8,640$43,640
IX-24e All other expensesManagement $1,337$1,337
IX-25 Total functional expensesPrograms $890,873 · Management $219,815 · Fundraising $2,347$1,113,035
Part X · Balance sheet $1,256,818 assets, 11 lines filed
Asset lines not itemized here account for $1,646; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $693,127$48,638
X-2 Savings and temporary cash investmentsStart of year $1,059,860$1,019,499
X-9 Prepaid expenses and deferred charges$187,035
X-16 Total assetsStart of year $1,757,394$1,256,818
X-17 Accounts payable and accrued expensesStart of year $6,329$1,398
X-19 Deferred revenueStart of year $175,000$127,750
X-25 Other liabilitiesStart of year $42,600$81,800
X-26 Total liabilitiesStart of year $223,929$210,948
X-27 Net assets without donor restrictionsStart of year $1,533,465$1,045,870
X-32 Total net assets or fund balancesStart of year $1,533,465$1,045,870
X-33 Total liabilities and net assetsStart of year $1,757,394$1,256,818
Part XI · Reconciliation of net assets $1,045,870 net assets at year end
XI-1 Total revenue$625,440
XI-2 Total expenses$1,113,035
XI-3 Revenue less expenses−$487,595
XI-4 Net assets at start of year$1,533,465
XI-10 Net assets at end of year$1,045,870

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

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