Laces 4 Love: FY2020 Nonprofit Profile & Form 990 (EIN 26-0462971)

Revenue by fiscal year
FY2020	$25K
FY2021	$14K
FY2022	$18K
FY2023	$25K
FY2024	$14K

Expenses by fiscal year
FY2020	$23K
FY2021	$19K
FY2022	$25K
FY2023	$28K
FY2024	$14K

Net assets by fiscal year
FY2020	$19K
FY2021	$14K
FY2022	$7K
FY2023	$5K
FY2024	$5K

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

75 cents of each dollar spent went to programs.

75%

25%

Program services 75% · $17K Management & general 25% · $6K

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

1 person listed on the 990.

Part VII, Section A · reportable compensation

Mark Owens

Chariman

$0Pt VII · Sec A

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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.

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Provided by the organization

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2 programs · $17K · in their own filed words · FY2020

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.

$17Kprogram expense

02

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

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$25K

Ln 12

Gifts and grantsLn 1h$25K

Money outPt IX

$23K

Ln 25

Programscol B$17K

Managementcol C$6K

Owns and owesPt X

$19K

net assets · Ln 32

Cash and savingsLn 1–2$22K

Total assetsLn 16$22K

LiabilitiesLn 26$3K

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a5

IndependentVI 1b3

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$25K

Government grantsLn 1e$0

Noncash giftsLn 1g$0

Fundraising eventsLn 1c$0

Total revenueLn 12$25K

Assets in detailPt X, end of year

CashLn 1$22K

Cash and savings togetherLn 1–2$22K

Total assetsLn 16$22K

LiabilitiesLn 26$3K

Net assetsLn 32$19K

OperationsPt I, VI

EmployeesI 51

VolunteersI 64

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$18K	$22K
Total assetsLn 16	$18K	$22K
LiabilitiesLn 26	$3K	$3K
Net assetsLn 32	$16K	$19K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of disqualified personsLn 6	$0
Other salaries and wagesLn 7	$11K	$5K	$5K
Payroll taxesLn 10	$815	$408	$407
Other expenses (24a–d)Ln 24	$293	$293	$0	$0
All other expensesLn 24e	$11K	$11K
Total functional expensesLn 25	$23K	$17K	$6K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$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 Viewing	$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 FY2020 990 (6 parts)

Part I · Summary $25,480 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $14,707$25,480

I-9 Program service revenue$0

I-10 Investment income$0

I-11 Other revenuePrior year $7,585$0

I-12 Total revenuePrior year $22,292$25,480

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $11,334$11,482

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $15,212$11,176

I-18 Total expensesPrior year $26,546$22,658

I-19 Revenue less expensesPrior year −$4,254$2,822

Part VI · Governance 3 of 5 board members independent, 3 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members3

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $25,480 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$25,480

VIII-1g Noncash contributions (included above)$0

VIII-1h Total contributions, gifts and grants$25,480

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$25,480

Part IX · Statement of functional expenses $22,658 across 5 lines filed

IX-6 Pay of disqualified persons$0

IX-7 Other salaries and wagesPrograms $5,334 · Management $5,333$10,667

IX-10 Payroll taxesPrograms $408 · Management $407$815

IX-24 Other expenses (24a–d)Programs $293 · Management $0 · Fundraising $0$293

IX-24e All other expensesPrograms $10,883$10,883

IX-25 Total functional expensesPrograms $16,918 · Management $5,740 · Fundraising $0$22,658

Part X · Balance sheet $21,544 assets, 6 lines filed

X-1 Cash, non-interest-bearingStart of year $18,453$21,544

X-16 Total assetsStart of year $18,453$21,544

X-17 Accounts payable and accrued expensesStart of year $2,668$2,937

X-26 Total liabilitiesStart of year $2,668$2,937

X-32 Total net assets or fund balancesStart of year $15,785$18,607

X-33 Total liabilities and net assetsStart of year $18,453$21,544

Part XI · Reconciliation of net assets $18,607 net assets at year end

XI-1 Total revenue$25,480

XI-2 Total expenses$22,658

XI-3 Revenue less expenses$2,822

XI-4 Net assets at start of year$15,785

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$18,607

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

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Laces 4 Love FY2020 filing

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