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W&s Charitable Foundation INC FY2020 filing

Tax-deductible

Ramsey, NJ501(c)(3)Foundations & GrantmakersEIN 26-1490941Revenue −$40K in FY2020

On file with the IRSxmasjam.com500b Lake St, 07446-1357 · Ramsey, NJTax-exempt since Jun 2009Publicly supported — 509(a)(2)

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December benefit concert to support habitat for humanity and other Charitable organizations.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2020 · 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
1 of 4
filings with a surplus
Average deficit $16K a year · 14% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
728 mo
of spending, in cash
Looks good: 728.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$40K
Spent
$8K
To programs
0%
Net assets
$456K
By yearFY2020–FY2024
Revenue
−$40K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020−$40K
FY2021−$17K
FY2022$295K
FY2023$248K
FY2024$5K
Expenses
$8K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$8K
FY2021$485
FY2022$298K
FY2023$246K
FY2024Not on file
Net assets
$456K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$456K
FY2021$438K
FY2022$434K
FY2023$437K
FY2024$422K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2009.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $8K

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

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See W&s Charitable Foundation INC 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Organizes a benefit concert to support Habitat for Humanity and other charities.

Questions for W&s Charitable Foundation INC

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Provided by the organization

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1 program · in their own filed words · FY2020
01

The foundation normally holds a christmas benefit concert in december every year. However, the foundation did not hold a concert in 2020 but instead continued to sell merchandise and accept DONATIONS.PROCEEDS from the concert and sale of merchandise are designated for habitat for HUMANITY.THE concert is an annual event and musicians…

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Charlottesville Area Community FoundationFY2023$20K
Total grants receivedfrom 1 funder$20K
Grants paid · 4 grants · $510K · 2022–2023
Asheville Area Habitat for Humanity INCNC · FY2023$115,000
Beloved AshevilleNC · FY2023$115,000
Asheville Area Habitat for Humanity INCNC · FY2022$140,000
Beloved AshevilleNC · FY2022$140,000

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$40K
Ln 12
Gifts and grantsLn 1h$5K
Money outPt IX
$8K
Ln 25
Managementcol C$8K
Owns and owesPt X
$456K
net assets · Ln 32
Cash and savingsLn 1–2$462K
Total assetsLn 16$462K
LiabilitiesLn 26$6K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5K
Gains on assetsLn 7−$44K
Total revenueLn 12−$40K
Assets in detailPt X, end of year
CashLn 1$462K
Cash and savings togetherLn 1–2$462K
Total assetsLn 16$462K
LiabilitiesLn 26$6K
Net assetsLn 32$456K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
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 FY20End FY20
Cash and savingsLn 1–2$508K$462K
Total assetsLn 16$513K$462K
LiabilitiesLn 26$9K$6K
Net assetsLn 32$504K$456K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$7K$7K
Office expensesLn 13$365$365
Total functional expensesLn 25$8K$0$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $5K$422K 990 PDF
FY2023 $248K$246K$2K$437K 990 PDF
FY2022 $295K$298K−$3K$434K 990 PDF
FY2021 −$17K$485−$18K$438K 990 PDF
FY2020 Viewing −$40K$8K−$48K$456K 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 −$40,208 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $52,729$5,000
I-9 Program service revenue$0
I-10 Investment incomePrior year $16,260−$43,744
I-11 Other revenuePrior year −$61,947−$1,464
I-12 Total revenuePrior year $7,042−$40,208
I-13 Grants and similar amounts paidPrior year $10,000$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $8,872$7,615
I-18 Total expensesPrior year $18,872$7,615
I-19 Revenue less expensesPrior year −$11,830−$47,823
Part VI · Governance 1 of 3 board members independent, 5 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
VI-2 Family or business relationship among officers or directorsYes
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
Part VIII · Statement of revenue −$40,208 across 5 lines filed
VIII-1f All other contributions, gifts and grants$5,000
VIII-1h Total contributions, gifts and grants$5,000
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$43,744−$43,744
VIII-8 Net income from fundraising eventsExcluded from tax −$1,464−$1,464
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$45,208−$40,208
Part IX · Statement of functional expenses $7,615 across 2 lines filed
IX-11c Accounting feesManagement $7,250$7,250
IX-13 Office expensesManagement $365$365
IX-25 Total functional expensesPrograms $0 · Management $7,615 · Fundraising $0$7,615
Part X · Balance sheet $462,348 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $507,901$462,228
X-4 Accounts receivableStart of year $5,119$120
X-16 Total assetsStart of year $513,020$462,348
X-17 Accounts payable and accrued expensesStart of year $9,349$6,500
X-26 Total liabilitiesStart of year $9,349$6,500
X-27 Net assets without donor restrictionsStart of year $503,671$455,848
X-32 Total net assets or fund balancesStart of year $503,671$455,848
X-33 Total liabilities and net assetsStart of year $513,020$462,348
Part XI · Reconciliation of net assets $455,848 net assets at year end
XI-1 Total revenue−$40,208
XI-2 Total expenses$7,615
XI-3 Revenue less expenses−$47,823
XI-4 Net assets at start of year$503,671
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$455,848

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

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