Southmont Foundation INC EIN 22-3146708 Form 990 (PDF) Claim this org

Southmont Foundation INC FY2020 filing

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Develops young men's character, skills, and attitudes for success in college and life. For fiscal year 2020 it reported $278K in revenue, $283K in expenses, and $492K in net assets.Pt I

Type
Public charity (501(c)(3)) · Human Services
Location
South Orange, NJ
Website
www.southmont.net
Filings
5 on file (2020–2020)
Revenue
$278KFY2020
Expenses
$283K
Net assets
$492K
People
8
Filings
5
Updates
0
More identity details & actions ⌄
EIN  22-3146708 Public charity (501(c)(3)) South Orange, NJ
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Develops young men's character, skills, and attitudes for success in college and life.
Leadership
John F Coverdale · President
Money in and out
$278K revenue, $283K expenses
Bottom line
100% program efficiency
Where the money goes · FY2020
Total revenue
$278K
Pt VIII · Ln 12
Total expenses
$283K
Pt IX · Ln 25
Net assets
$492K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$5K
Where spending went · Part IX cols B–D
Program services $1.00
Program efficiency
100%
of spending reaches programs
Operating runway
6.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
-2%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$278K
FY2020
Total revenue
$278K
Pt VIII · Ln 12
Total expenses
$283K
Pt IX · Ln 25
Net assets
$492K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$5K
Total assetsPt X · Ln 16$516K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

1 program service account for $283K of program spending, described in the organization's own filed words · FY2020.
01

Education and character formation for approximately 100 adult men, 70 teenage boys and 30 pre-teenage boys

$283Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSouthmont Foundation INC
EINHdr · item D22-3146708
Principal addressHdr · item CSouth Orange, NJ
WebsiteHdr · item Jwww.southmont.net
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNJ
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P20Z)
Ruling yearIRS BMFNov 1992

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
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
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Program service revenue$174K · 62%
Contributions & grants$104K · 38%
Program service revenue62%$174K
Contributions & grants38%$104K
Total revenueLn 12$278K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$283K
Total functional expensesLn 25$283K

Balance Sheet

Part X · end of year
CashLn 1$142K
Total assetsLn 16$516K
Total liabilitiesLn 26$24K
Total net assetsLn 32$492K
Months of cash on handcomputed6.0

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $142K · Operating expenses/yr $283K
6.0 months
Where the money goes
Program services
Program services $283K · Total expenses $283K
100%
Management & General
Management & general $0 · Total expenses $283K
0%
Fundraising
Fundraising $0 · Total expenses $283K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $104K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $104K · Total revenue $278K
38%
Government reliance
Government grants — · Total revenue $278K
Earned-income share
Program service revenue $174K · Total revenue $278K
62%
Investment reliance
Investment income $0 · Total revenue $278K
0%
Program self-sufficiency
Program service revenue $174K · Total expenses $283K
61%
Growth & trend
Revenue growth (YoY)
This year $278K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $492K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $278K · Expenses $283K
-2%
Liabilities-to-Assets
Total liabilities — · Total assets $516K
Net-asset ratio
Net assets $492K · Total assets $516K
95%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $516K
0%
People & payroll
Highest Reported Total Compensation
Individual John F Coverdale · Reported title President · Highest reported compensation $0 · Total expenses $283K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $283K
0%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Fundraising cost ratio 0%
Investment management fee ratio 0%
Legal fee ratio 0.01%
Accounting fee ratio 0%
Fundraising fee ratio 0%

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
Total grants receivedfrom 1 funder$20K

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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
FY2024 (Latest)$132K revenue · ⤓ 990 PDF
FY2023$113K revenue · ⤓ 990 PDF
FY2022$127K revenue · ⤓ 990 PDF
FY2021$147K revenue · ⤓ 990 PDF
FY2020$278K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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