Frvbc Foundation FY2023 filing

Tax-deductible

Englewood, CO501(c)(3)Since 2004Recreation & SportsEIN 20-2138865Revenue $357K in FY2023

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.
48¢ of each $1 spent went to programs.
$135K 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

FY2023 · 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
48%
of spending
Concern: 48% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$135K
to officers and key staff · 26% of spending
Worth a look: pay to officers and key staff is 26% of spending; over 20%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
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
$97K
471% of total assets
Concern: liabilities are 471% of assets; over 80%.
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
$357K
+66% vs prior year
Spent
$514K
To programs
48%
Net assets
−$76K
By yearFY2020–FY2024
Revenue
$357K
FY2023▲ +66%
Tap a bar for its year
Revenue by fiscal year
FY2020$656K
FY2021$625K
FY2022$215K
FY2023$357K
FY2024$708K
FY2024$224K
Expenses
$514K
FY2023▼ -56%
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
−$76K
FY2023▼ -194%
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 FY2023 Form 990 (year ending June 2023) · see the original

990 PDF Claim
You’re viewing the FY2023 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

48 cents of each dollar spent went to programs.

Program services 48% · $246K Management & general 19% · $99K Fundraising 33% · $169K

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

3 people listed on the 990; $135K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Board Member
$134,615Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Chairman
$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
  • Loans to or from officersSch L · Pt II1 listed

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 · $246K · in their own filed words · FY2022
01

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

$190Kprogram expense
02

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.

$56Kprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$357K
Ln 12
Other incomeLn 4–11$301K
Fees for servicesLn 2g$56K
Investment incomeLn 3$4
Money outPt IX
$514K
Ln 25
Programscol B$246K
Managementcol C$99K
Fundraisingcol D$169K
Owns and owesPt X
−$76K
net assets · Ln 32
Cash and savingsLn 1–2$21K
Total assetsLn 16$21K
LiabilitiesLn 26$97K
PeoplePt VI, VII
3
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$56K
Investment incomeLn 3$4
Other incomeLn 4–11$301K
Total revenueLn 12$357K
Assets in detailPt X, end of year
CashLn 1$10K
SavingsLn 2$11K
Cash and savings togetherLn 1–2$21K
Total assetsLn 16$21K
LiabilitiesLn 26$97K
Net assetsLn 32−$76K
OperationsPt I, VI
EmployeesI 51
VolunteersI 64
Fiscal year endsHeaderJune
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 FY23End FY23
Cash and savingsLn 1–2$113K$21K
Total assetsLn 16$176K$21K
LiabilitiesLn 26$95K$97K
Net assetsLn 32$81K−$76K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$56K$56K
Pay of current officers, directors and key staffLn 5$135K$45K$45K$45K
Other salaries and wagesLn 7$123K$15K$108K
Other employee benefitsLn 9$17K$17K
Payroll taxesLn 10$19K$3K$4K$12K
Legal feesLn 11b$13K$10K$3K
Accounting feesLn 11c$7K$5K$2K
Other fees for servicesLn 11g$140K$140K
Office expensesLn 13$1K$1K
Information technologyLn 14$2K$2K
TravelLn 17$760$190$190$380
InterestLn 20$211$211
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24−$2K$595−$3K
Total functional expensesLn 25$514K$246K$99K$169K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $708K$333K$375K$332K 990 PDF
FY2023 Viewing $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 FY2023 990 (6 parts)
Part I · Summary $356,690 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $81,800$0
I-9 Program service revenuePrior year $92,452$55,660
I-10 Investment incomePrior year $806$4
I-11 Other revenuePrior year $39,513$301,026
I-12 Total revenuePrior year $214,571$356,690
I-13 Grants and similar amounts paidPrior year $318,616$55,762
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $402,137$293,212
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $458,403$165,474
I-18 Total expensesPrior year $1,179,156$514,448
I-19 Revenue less expensesPrior year −$964,585−$157,758
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 $356,690 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $55,660$55,660
VIII-3 Investment incomeRelated to mission $4$4
VIII-8 Net income from fundraising events$301,026
VIII-12 Total revenueRelated to mission $55,664$356,690
Part IX · Statement of functional expenses $514,448 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $55,762$55,762
IX-5 Pay of current officers, directors and key staffPrograms $44,872 · Management $44,872 · Fundraising $44,872$134,616
IX-7 Other salaries and wagesManagement $15,000 · Fundraising $107,529$122,529
IX-9 Other employee benefitsManagement $16,994$16,994
IX-10 Payroll taxesPrograms $2,970 · Management $4,372 · Fundraising $11,731$19,073
IX-11b Legal feesManagement $9,580 · Fundraising $3,193$12,773
IX-11c Accounting feesManagement $5,269 · Fundraising $1,756$7,025
IX-11g Other fees for servicesPrograms $139,674$139,674
IX-13 Office expensesManagement $1,341$1,341
IX-14 Information technologyPrograms $1,555$1,555
IX-17 TravelPrograms $190 · Management $190 · Fundraising $380$760
IX-20 InterestManagement $211$211
IX-23 InsuranceManagement $4,163$4,163
IX-24 Other expenses (24a–d)Programs $595 · Management −$2,623−$2,028
IX-25 Total functional expensesPrograms $245,618 · Management $99,369 · Fundraising $169,461$514,448
Part X · Balance sheet $20,625 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $113,312$9,646
X-2 Savings and temporary cash investments$10,979
X-16 Total assetsStart of year $176,491$20,625
X-17 Accounts payable and accrued expensesStart of year $20,392$17,108
X-26 Total liabilitiesStart of year $95,206$97,098
X-27 Net assets without donor restrictionsStart of year $81,285−$76,473
X-32 Total net assets or fund balancesStart of year $81,285−$76,473
X-33 Total liabilities and net assetsStart of year $176,491$20,625
Part XI · Reconciliation of net assets −$76,473 net assets at year end
XI-1 Total revenue$356,690
XI-2 Total expenses$514,448
XI-3 Revenue less expenses−$157,758
XI-4 Net assets at start of year$81,285
XI-10 Net assets at end of year−$76,473

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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