Laces 4 Love

Tax-deductible

North Augusta, SC501(c)(3)Foundations & GrantmakersEIN 26-0462971

Provide shoes for needy elementary school children in various counties within the state of south carolina.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 4 volunteers and 1 employee.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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 deficit $2K a year · 11% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3K
34% of total assets
Looks good: liabilities are 34% of assets; 50% or less.
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
$14K
-44% vs prior year
Spent
$14K
To programs
100%
Net assets
$5K
By yearFY2020–FY2024
Revenue
$14K
FY2024▼ -44%
Revenue by fiscal year
FY2020$25K
FY2021$14K
FY2022$18K
FY2023$25K
FY2024$14K
Expenses
$14K
FY2024▼ -51%
Expenses by fiscal year
FY2020$23K
FY2021$19K
FY2022$25K
FY2023$28K
FY2024$14K
Net assets
$5K
FY2024▲ +14%
Net assets by fiscal year
FY2020$19K
FY2021$14K
FY2022$7K
FY2023$5K
FY2024$5K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Exemption reinstated (2010-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Jun 2014.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $14K

Form 990 Part IX, line 25. Every line is in By the numbers.

Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation
Chariman
$0Pt VII · Sec A
See Laces 4 Love 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

Gives shoes to elementary school children in need across South Carolina.

Provided by the organization

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2 program services account for $14K of program spending, described in the organization's own filed words · FY2024.
01

Provided children with shoes in aiken, edgefield, mccormick, saluda, barnwell and lexington counties with the state of south carolina. We distributed approximately 1800 pairs of shoes

$14Kprogram expense
02

Provide shoes for needy elementary school children with several south carolina counties

Pt IX · col B

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By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$14K
Ln 12
Gifts and grantsLn 1h$14K
Money outPt IX
$14K
Ln 25
Programscol B$14K
Owns and owesPt X
$5K
net assets · Ln 32
Cash and savingsLn 1–2$8K
Total assetsLn 16$8K
LiabilitiesLn 26$3K
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$14K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Total revenueLn 12$14K
Assets in detailPt X, end of year
CashLn 1$8K
SavingsLn 2$0
Cash and savings togetherLn 1–2$8K
InvestmentsLn 11–13$0
Other assetsLn 15$0
Total assetsLn 16$8K
LiabilitiesLn 26$3K
Net assetsLn 32$5K
OperationsPt I, VI
EmployeesI 51
VolunteersI 64
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$7K$8K
InvestmentsLn 11–13$0$0
Total assetsLn 16$7K$8K
LiabilitiesLn 26$3K$3K
Net assetsLn 32$5K$5K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$5K$5K
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$0$0$0$0
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$7K$7K$0$0
Pension plan contributionsLn 8$0$0$0$0
Other employee benefitsLn 9$0$0$0$0
Payroll taxesLn 10$510$510$0$0
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$0$0$0$0
Accounting feesLn 11c$0$0$0$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$0$0$0$0
Other fees for servicesLn 11g$0$0$0$0
Advertising and promotionLn 12$0$0$0$0
Office expensesLn 13$41$41$0$0
Information technologyLn 14$848$848$0$0
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$0$0$0$0
TravelLn 17$0$0$0$0
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$0$0$0$0
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$14K$14K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $14K$14K$616$5K 990 PDF
FY2023 $25K$28K−$2K$5K 990 PDF
FY2022 $18K$25K−$7K$7K 990 PDF
FY2021 $14K$19K−$5K$14K 990 PDF
FY2020 $25K$23K$3K$19K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $14,151 across 9 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$14,151
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$14,151
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$14,151
Part IX · Statement of functional expenses $13,535 across 26 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $5,469$5,469
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $0 · Fundraising $0$0
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $6,667 · Management $0 · Fundraising $0$6,667
IX-8 Pension plan contributionsPrograms $0 · Management $0 · Fundraising $0$0
IX-9 Other employee benefitsPrograms $0 · Management $0 · Fundraising $0$0
IX-10 Payroll taxesPrograms $510 · Management $0 · Fundraising $0$510
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11c Accounting feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-12 Advertising and promotionPrograms $0 · Management $0 · Fundraising $0$0
IX-13 Office expensesPrograms $41 · Management $0 · Fundraising $0$41
IX-14 Information technologyPrograms $848 · Management $0 · Fundraising $0$848
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $0 · Management $0 · Fundraising $0$0
IX-17 TravelPrograms $0 · Management $0 · Fundraising $0$0
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$0
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $13,535 · Management $0 · Fundraising $0$13,535
Part X · Balance sheet $7,828 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $7,212$7,828
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $7,212$7,828
X-17 Accounts payable and accrued expensesStart of year $2,668$2,668
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $2,668$2,668
X-32 Total net assets or fund balancesStart of year $4,544$5,160
X-33 Total liabilities and net assetsStart of year $7,212$7,828
Part XI · Reconciliation of net assets $5,160 net assets at year end
XI-1 Total revenue$14,151
XI-2 Total expenses$13,535
XI-3 Revenue less expenses$616
XI-4 Net assets at start of year$4,544
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,160

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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