Laces FY2020 filing

Takoma Park, MDUnknown exempt organization EIN 20-8293882Revenue $251K in FY2020

On file with the IRSlaces.org7006 Carroll Avenue Suite 203 · Takoma Park, MD

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Leverage the power of sport to mentor at-risk youth. Through the power of sports and positive role models we provide social, emotional and physical support for at-risk youth in the united states and around the globe.

71¢ of each $1 spent went to programs.
$50K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $17K a year · 8% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$50K
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
5 mo
of spending, in cash
Looks good: 4.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $17K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$21K
17% of total assets
Looks good: liabilities are 17% 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
$251K
Spent
$269K
To programs
71%
Net assets
$99K
By yearFY2020–FY2025
Revenue
$251K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$251K
FY2021$328K
FY2022$366K
FY2024$121K
FY2025$555
Expenses
$269K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$269K
FY2021$239K
FY2022$399K
FY2024$180K
FY2025$68K
Net assets
$99K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$99K
FY2021$188K
FY2022$167K
FY2024$67K
FY2025$0

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $190K Management & general 13% · $35K Fundraising 16% · $44K

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

5 people listed on the 990; $50K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Director
$50,000Pt VII · Sec A
$0Pt VII · Sec A
Chairman of Board
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2021FY2020
Seren Fryatt$50,000$50,000

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

Mentors at-risk youth using sports for social, emotional, and physical support.

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Provided by the organization

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3 programs · $190K · in their own filed words · FY2019
01

Sponsored soccer leagues that combined sports and mentorship for 200 children between the ages of 10-14 teaching life skills described in our exempt purpose in liberia.

$149Kprogram expense
02

Sponsored soccer leagues that combined sports and mentorship for 145 children between the ages of 10-14 teaching life skills described in our exempt purpose in sierre leone.

$26Kprogram expense
03

Sponsored 100 refugee youth to attend mentorship based sports camps and 20 refugee youth to play in a local soccer league.

$15Kprogram expense

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
See all 5 funders →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$251K
Ln 12
Gifts and grantsLn 1h$250K
Other incomeLn 4–11$1K
Investment incomeLn 3$18
Money outPt IX
$269K
Ln 25
Programscol B$190K
Managementcol C$35K
Fundraisingcol D$44K
Owns and owesPt X
$99K
net assets · Ln 32
Cash and savingsLn 1–2$108K
Total assetsLn 16$120K
LiabilitiesLn 26$21K
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$250K
Investment incomeLn 3$18
Other incomeLn 4–11$1K
Gains on assetsLn 7−$774
Total revenueLn 12$251K
Assets in detailPt X, end of year
CashLn 1$108K
Cash and savings togetherLn 1–2$108K
Land, buildings, equipmentLn 10c$8K
Total assetsLn 16$120K
LiabilitiesLn 26$21K
Net assetsLn 32$99K
OperationsPt I, VI
EmployeesI 54
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$126K$108K
Land, buildings, equipmentLn 10c$3K$8K
Total assetsLn 16$130K$120K
LiabilitiesLn 26$12K$21K
Net assetsLn 32$118K$99K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$50K$16K$4K$30K
Other salaries and wagesLn 7$14K$7K$7K
Payroll taxesLn 10$6K$4K$2K
Other fees for servicesLn 11g$9K$8K$960
Advertising and promotionLn 12$2K$911$609
Office expensesLn 13$3K$2K$1K
OccupancyLn 16$9K$5K$3K
TravelLn 17$2K$1K$810
Conferences, conventions and meetingsLn 19$3K$2K$1K
Depreciation, depletion and amortizationLn 22$2K$2K$711
InsuranceLn 23$3K$2K$1K
Other expenses (24a–d)Ln 24$79K$79K
All other expensesLn 24e$87K$61K$11K$15K
Total functional expensesLn 25$269K$190K$35K$44K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $555$68K−$67K$0 990 PDF
FY2024 $121K$180K−$58K$67K 990 PDF
FY2023 Not on file
FY2022 $366K$399K−$33K$167K 990 PDF
FY2021 $328K$239K$89K$188K 990 PDF
FY2020 Viewing $251K$269K−$18K$99K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $250,756 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $245,004$249,671
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $13−$756
I-11 Other revenuePrior year $55,116$1,841
I-12 Total revenuePrior year $300,133$250,756
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 $58,428$69,978
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $205,815$199,052
I-18 Total expensesPrior year $264,243$269,030
I-19 Revenue less expensesPrior year $35,890−$18,274
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $250,756 across 6 lines filed
VIII-1f All other contributions, gifts and grants$249,671
VIII-1h Total contributions, gifts and grants$249,671
VIII-3 Investment incomeUnrelated business $18$18
VIII-7 Net gain or loss on sales of assetsRelated to mission −$774−$774
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $1,841$1,841
VIII-12 Total revenueRelated to mission −$774 · Unrelated business $1,859 · Excluded from tax $0$250,756
Part IX · Statement of functional expenses $269,030 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $16,248 · Management $4,166 · Fundraising $29,586$50,000
IX-7 Other salaries and wagesPrograms $6,890 · Management $6,889$13,779
IX-10 Payroll taxesPrograms $3,719 · Management $2,480$6,199
IX-11g Other fees for servicesPrograms $8,254 · Management $960$9,214
IX-12 Advertising and promotionPrograms $911 · Management $609$1,520
IX-13 Office expensesPrograms $1,721 · Management $1,145$2,866
IX-16 OccupancyPrograms $5,217 · Management $3,478$8,695
IX-17 TravelPrograms $1,104 · Management $810$1,914
IX-19 Conferences, conventions and meetingsPrograms $1,999 · Management $1,333$3,332
IX-22 Depreciation, depletion and amortizationPrograms $1,658 · Management $711$2,369
IX-23 InsurancePrograms $1,875 · Management $1,250$3,125
IX-24 Other expenses (24a–d)Programs $79,036$79,036
IX-24e All other expensesPrograms $61,066 · Management $11,308 · Fundraising $14,607$86,981
IX-25 Total functional expensesPrograms $189,698 · Management $35,139 · Fundraising $44,193$269,030
Part X · Balance sheet $119,967 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $126,338$107,873
X-9 Prepaid expenses and deferred chargesStart of year $680$4,580
X-10c Land, buildings and equipment, netStart of year $2,907$7,514
X-16 Total assetsStart of year $129,955$119,967
X-17 Accounts payable and accrued expensesStart of year $12,408$2,181
X-24 Unsecured notes and loans payable$18,513
X-26 Total liabilitiesStart of year $12,408$20,694
X-27 Net assets without donor restrictionsStart of year $117,547$99,273
X-32 Total net assets or fund balancesStart of year $117,547$99,273
X-33 Total liabilities and net assetsStart of year $129,955$119,967
Part XI · Reconciliation of net assets $99,273 net assets at year end
XI-1 Total revenue$250,756
XI-2 Total expenses$269,030
XI-3 Revenue less expenses−$18,274
XI-4 Net assets at start of year$117,547
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$99,273

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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