Laces EIN 20-8293882 Form 990 (PDF) Claim this org

Laces FY2022 filing

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Form 990 for the fiscal year ending June 2022 (IRS tax year 2021).


Mentors at-risk youth using sports for social, emotional, and physical support. For fiscal year 2022 it reported $366K in revenue, $399K in expenses, and $167K in net assets.Pt I

Type
Unknown exempt organization · Nonprofit
Location
Takoma Park, MD
Website
www.laces.org
Filings
5 on file (2020–2022)
Revenue
$366KFY2022
Expenses
$399K
Net assets
$167K
People
5
Filings
5
Updates
0
More identity details & actions ⌄
EIN  20-8293882 Unknown exempt organization Takoma Park, MD
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →
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Size
<$100K
What they do
Mentors at-risk youth using sports for social, emotional, and physical support.
Leadership
Seren Fryatt · Director
Money in and out
$366K revenue, $399K expenses
Bottom line
-9% surplus margin
Reported financial activity · FY2022
Total revenue
$366K
Pt VIII · Ln 12
Total expenses
$399K
Pt IX · Ln 25
Net assets
$167K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$33K
Where spending went · Part IX cols B–D
Program services $0.76 Management & general $0.16 Fundraising $0.08
Surplus margin
-9%
revenue over expenses, this year
Program spending
76%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$366K
FY2022▲ +12%
Expenses
$399K
FY2022▲ +67%
Total assets
$190K
FY2022▼ -11%
Total liabilities
$23K
FY2022▼ -8%
Revenue less expensesPt I · Ln 19−$33K
Total assetsPt X · Ln 16$190K
Program-expense ratioPt IX · col B76%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLaces
EINHdr · item D20-8293882
Principal addressHdr · item CTakoma Park, MD
WebsiteHdr · item Jwww.laces.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFpending

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Director
$0Pt 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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Mission & Programs · Part III

Where the work happens

3 program services account for $304K of program spending, described in the organization's own filed words · FY2021.
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.

$225Kprogram 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.

$56Kprogram expense
03

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

$23Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants100%$366K
Investment income$12
Other revenue$439
— government grantsLn 1e$95K
Total revenueLn 12$366K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.76 Management & general $0.16 Fundraising $0.08
Program services76%$304K
Management & general16%$62K
Fundraising8%$33K
Total functional expensesLn 25$399K

Balance Sheet

Part X · end of year
CashLn 1$177K
Total assetsLn 16$190K
Total liabilitiesLn 26$23K
Total net assetsLn 32$167K
Months of cash on handcomputed5.3

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $177K · Operating expenses/yr $399K
5.3 months
Where the money goes
Program services
Program services $304K · Total expenses $399K
76%
Management & General
Management & general $62K · Total expenses $399K
16%
Fundraising
Fundraising $33K · Total expenses $399K
8%
Cost to raise $1
Fundraising expense (3-yr avg) $39K · Solicited contributions (3-yr avg) $277K
$0.14 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $366K · Total revenue $366K
100%
Government reliance
Government grants $95K · Total revenue $366K
26%
Earned-income share
Program service revenue $0 · Total revenue $366K
0%
Investment reliance
Investment income $12 · Total revenue $366K
<0.01%
Program self-sufficiency
Program service revenue $0 · Total expenses $399K
0%
Growth & trend
Revenue growth (YoY)
This year $366K · Prior year $328K
+12%
Net-asset trend (YoY)
End of year $167K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $366K · Expenses $399K
-9%
Liabilities-to-Assets
Total liabilities — · Total assets $190K
Net-asset ratio
Net assets $167K · Total assets $190K
88%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $190K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Seren Fryatt · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $399K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $55K · Total expenses $399K
14%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 76%
Overhead ratio 16%
Fundraising cost ratio 9%
Revenue growth 12%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$555 revenue · ⤓ 990 PDF
FY2024$121K revenue · ⤓ 990 PDF
FY2023not on file
FY2022$366K revenue · viewing · ⤓ 990 PDF
FY2021$328K revenue · ⤓ 990 PDF
FY2020$251K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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