Mtfc INC FY2023 filing

Tax-deductible

Lakewood, WA501(c)(3)Recreation & SportsEIN 20-2689710

To foster national and international amateur sports competition by supporting and developing amateur athletes for national and international amateur fencing competitions.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
2 of 5
filings with a surplus
Average surplus $39K a year · 11% 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
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
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
1
named funder · $34
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2K
0.8% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$334K
-22% vs prior year
Spent
$336K
To programs
89%
Net assets
$288K
By yearFY2020–FY2024
Revenue
$334K
FY2023▼ -22%
Revenue by fiscal year
FY2020$240K
FY2021$428K
FY2022$428K
FY2023$334K
FY2024$307K
Expenses
$336K
FY2023▲ +5%
Expenses by fiscal year
FY2020$253K
FY2021$321K
FY2022$320K
FY2023$336K
FY2024$310K
Net assets
$288K
FY2023▼ -0.7%
Net assets by fiscal year
FY2020$75K
FY2021$182K
FY2022$290K
FY2023$288K
FY2024$285K

From the FY2023 Form 990 · see the original

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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 Feb 2011.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $299K Management & general 11% · $37K

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Member at La
$0Pt VII · Sec A
Member at La
$0Pt VII · Sec A
Member at La
$0Pt VII · Sec A
See Mtfc INC 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

Supports and develops amateur athletes for national and international fencing competitions.

Provided by the organization

This section is blank until Mtfc INC claims this page.

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2 program services account for $299K of program spending, described in the organization's own filed words · FY2023.
01

Providing classes and instruction in fencing and providing a facility and safe environment to learn, practice, and compete in the sport of fencing.

$295Kprogram expense
02

A scholarship fund has been established to provide assistance with fees to participate in fencing programs.

$4Kprogram expense

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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 · FY2023
Total grants receivedfrom 1 funder$34

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$334K
Ln 12
Fees for servicesLn 2g$330K
Investment incomeLn 3$3K
Gifts and grantsLn 1h$2K
Money outPt IX
$336K
Ln 25
Programscol B$299K
Managementcol C$37K
Owns and owesPt X
$288K
net assets · Ln 32
Cash and savingsLn 1–2$282K
Total assetsLn 16$290K
LiabilitiesLn 26$2K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Fees for servicesLn 2g$330K
Investment incomeLn 3$3K
Total revenueLn 12$334K
Assets in detailPt X, end of year
CashLn 1$40K
SavingsLn 2$243K
Cash and savings togetherLn 1–2$282K
Land, buildings, equipmentLn 10c$8K
Total assetsLn 16$290K
LiabilitiesLn 26$2K
Net assetsLn 32$288K
OperationsPt I, VI
EmployeesI 55
VolunteersI 615
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 FY23End FY23
Cash and savingsLn 1–2$288K$282K
Land, buildings, equipmentLn 10c$10K$8K
Total assetsLn 16$298K$290K
LiabilitiesLn 26$8K$2K
Net assetsLn 32$290K$288K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$4K$4K
Other salaries and wagesLn 7$218K$211K$7K
Payroll taxesLn 10$19K$18K$570
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$301$301
Advertising and promotionLn 12$999$999
OccupancyLn 16$48K$48K
InterestLn 20$11$11
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$31K$9K$22K
All other expensesLn 24e$9K$7K$2K
Total functional expensesLn 25$336K$299K$37K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $307K$310K−$3K$285K 990 PDF
FY2023 Viewing $334K$336K−$2K$288K 990 PDF
FY2022 $428K$320K$108K$290K 990 PDF
FY2021 $428K$321K$107K$182K 990 PDF
FY2020 $240K$253K−$13K$75K 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 (4 parts)
Part VIII · Statement of revenue $334,011 across 5 lines filed
Lines not itemized here account for $525 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$1,964
VIII-1h Total contributions, gifts and grants$1,964
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $328,994$328,994
VIII-3 Investment incomeExcluded from tax $2,528$2,528
VIII-12 Total revenueRelated to mission $329,519 · Excluded from tax $2,528$334,011
Part IX · Statement of functional expenses $335,919 across 12 lines filed
IX-2 Grants to domestic individualsPrograms $3,895$3,895
IX-7 Other salaries and wagesPrograms $210,574 · Management $7,250$217,824
IX-10 Payroll taxesPrograms $18,418 · Management $570$18,988
IX-11c Accounting feesManagement $1,935$1,935
IX-11g Other fees for servicesPrograms $301$301
IX-12 Advertising and promotionManagement $999$999
IX-16 OccupancyPrograms $48,102$48,102
IX-20 InterestManagement $11$11
IX-22 Depreciation, depletion and amortizationPrograms $1,895$1,895
IX-23 InsuranceManagement $2,362$2,362
IX-24 Other expenses (24a–d)Programs $9,183 · Management $21,519$30,702
IX-24e All other expensesPrograms $6,897 · Management $2,008$8,905
IX-25 Total functional expensesPrograms $299,265 · Management $36,654 · Fundraising $0$335,919
Part X · Balance sheet $290,280 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $47,943$39,546
X-2 Savings and temporary cash investmentsStart of year $240,131$242,650
X-10c Land, buildings and equipment, netStart of year $9,979$8,084
X-16 Total assetsStart of year $298,053$290,280
X-25 Other liabilitiesStart of year $8,289$2,424
X-26 Total liabilitiesStart of year $8,289$2,424
X-27 Net assets without donor restrictionsStart of year $288,808$282,935
X-28 Net assets with donor restrictionsStart of year $956$4,921
X-32 Total net assets or fund balancesStart of year $289,764$287,856
X-33 Total liabilities and net assetsStart of year $298,053$290,280
Part XI · Reconciliation of net assets $287,856 net assets at year end
XI-1 Total revenue$334,011
XI-2 Total expenses$335,919
XI-3 Revenue less expenses−$1,908
XI-4 Net assets at start of year$289,764
XI-10 Net assets at end of year$287,856

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

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