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W&s Charitable Foundation INC FY2021 filing

Tax-deductible

Ramsey, NJ501(c)(3)Foundations & Grantmakers EIN 26-1490941Revenue −$17K in FY2021

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

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FY2021 · 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
10846 mo
of spending, in cash
Looks good: 10846.0 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
$135
0.03% of total assets
Looks good: liabilities are 0% 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
−$17K
+58% vs prior year
Spent
$485
To programs
0%
Net assets
$438K
By yearFY2020–FY2024
Revenue
−$17K
FY2021▲ +58%
Tap a bar for its year
Revenue by fiscal year
FY2020−$40K
FY2021−$17K
FY2022$295K
FY2023$248K
FY2024$5K
Expenses
$485
FY2021▼ -94%
Tap a bar for its year
Expenses by fiscal year
FY2020$8K
FY2021$485
FY2022$298K
FY2023$246K
FY2024Not on file
Net assets
$438K
FY2021▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$456K
FY2021$438K
FY2022$434K
FY2023$437K
FY2024$422K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 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% · $485

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.

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Provided by the organization

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1 program · in their own filed words · FY2021
01

The foundation normally holds a christmas benefit concert in december every year. However, the foundation did not hold a concert in 2021 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 FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$17K
Ln 12
Gifts and grantsLn 1h$15K
Money outPt IX
$485
Ln 25
Managementcol C$485
Owns and owesPt X
$438K
net assets · Ln 32
Cash and savingsLn 1–2$438K
Total assetsLn 16$438K
LiabilitiesLn 26$135
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$15K
Gains on assetsLn 7−$29K
Total revenueLn 12−$17K
Assets in detailPt X, end of year
CashLn 1$438K
Cash and savings togetherLn 1–2$438K
Total assetsLn 16$438K
LiabilitiesLn 26$135
Net assetsLn 32$438K
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 FY21End FY21
Cash and savingsLn 1–2$462K$438K
Total assetsLn 16$462K$438K
LiabilitiesLn 26$6K$135
Net assetsLn 32$456K$438K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Office expensesLn 13$485$485
Total functional expensesLn 25$485$0$485$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 Viewing −$17K$485−$18K$438K 990 PDF
FY2020 −$40K$8K−$48K$456K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary −$17,017 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,000$15,000
I-9 Program service revenue$0
I-10 Investment incomePrior year −$43,744−$28,804
I-11 Other revenuePrior year −$1,464−$3,213
I-12 Total revenuePrior year −$40,208−$17,017
I-13 Grants and similar amounts paid$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 $7,615$485
I-18 Total expensesPrior year $7,615$485
I-19 Revenue less expensesPrior year −$47,823−$17,502
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 −$17,017 across 5 lines filed
VIII-1f All other contributions, gifts and grants$15,000
VIII-1h Total contributions, gifts and grants$15,000
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$28,804−$28,804
VIII-8 Net income from fundraising eventsExcluded from tax −$3,213−$3,213
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$32,017−$17,017
Part IX · Statement of functional expenses $485 across 1 line filed
IX-13 Office expensesManagement $485$485
IX-25 Total functional expensesPrograms $0 · Management $485 · Fundraising $0$485
Part X · Balance sheet $438,481 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $462,228$438,361
X-4 Accounts receivableStart of year $120$120
X-16 Total assetsStart of year $462,348$438,481
X-17 Accounts payable and accrued expensesStart of year $6,500$135
X-26 Total liabilitiesStart of year $6,500$135
X-27 Net assets without donor restrictionsStart of year $455,848$438,346
X-32 Total net assets or fund balancesStart of year $455,848$438,346
X-33 Total liabilities and net assetsStart of year $462,348$438,481
Part XI · Reconciliation of net assets $438,346 net assets at year end
XI-1 Total revenue−$17,017
XI-2 Total expenses$485
XI-3 Revenue less expenses−$17,502
XI-4 Net assets at start of year$455,848
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$438,346

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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