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Chad a Jacobs Memorial Foundation

Tax-deductible

Westport, CT501(c)(3)Foundations & GrantmakersEIN 27-2884884Revenue $73K in FY2024

On file with the IRScajfoundation.org6 Sleigh Rdg, 06880-5065 · Westport, CTTax-exempt since Jan 2011Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the Chad a. Jacobs Memorial Foundation is to fund academic and athletic scholarships to children with financial need who live in the surrounding community.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
1 of 5
filings with a surplus
Average deficit $20K a year · 43% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 8.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $5K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$73K
+76% vs prior year
Spent
$69K
To programs
97%
Net assets
$461K
By yearFY2020–FY2024
Revenue
$73K
FY2024▲ +76%
Tap a bar for its year
Revenue by fiscal year
FY2020$41K
FY2021$39K
FY2022$38K
FY2023$41K
FY2024$73K
Expenses
$69K
FY2024▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$74K
FY2021$62K
FY2022$57K
FY2023$68K
FY2024$69K
Net assets
$461K
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$524K
FY2021$521K
FY2022$421K
FY2023$442K
FY2024$461K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2011.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $67K Management & general 3% · $2K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Tom Ryan
Assistant Chair
$0Pt VII · Sec A
Don Jacobs
Board Member
$0Pt VII · Sec A
Ginny Jacobs
Board Member
$0Pt VII · Sec A
Scott Santarella
Board Member
$0Pt VII · Sec A
Brendon Frey
Board Member
$0Pt VII · Sec A
Joseph Teklits
Board Member
$0Pt VII · Sec A
Douglas Tinkler
Board Member
$0Pt VII · Sec A
See Chad a Jacobs Memorial Foundation 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

Provides scholarships for local children with financial need to pursue academics and athletics.

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Provided by the organization

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1 program · $67K · in their own filed words · FY2024
01

The mission of the chad a. Jacobs memorial foundation is to fund academic and athletic scholarships to children with financial need who live in the surrounding community.

$67Kprogram expense

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 · FY2024
John Patrick Flanagan FoundationFY2024$5K
Foundation Source Charitable Foundation INCFY2024$150
Total grants receivedfrom 2 funders$5K
Grants paid · 13 grants · $297K · 2020–2024
Wonderland Wizards Youth Hockey Association INCCT · FY2024$36,548
Unitemized GrantFY2024$28,525
Wonderland Wizards Youth Hockey Association INCCT · FY2023$43,707
Act of KindnessFY2023$6,150
UconnFY2023$6,000
Wonderland Wizards Youth Hockey Association INCCT · FY2022$28,056
Act of KindnessFY2022$26,844
Wonderland Wizards Youth Hockey Association INCCT · FY2021$34,792
Act of KindnessFY2021$15,308
Seize the DayFY2021$5,750
Wonderland Wizards Youth Hockey Association INCCT · FY2020$30,025
Seize the DayFY2020$20,000
Act of KindnessFY2020$15,200

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$73K
Ln 12
Gifts and grantsLn 1h$71K
Investment incomeLn 3$17K
Money outPt IX
$69K
Ln 25
Programscol B$67K
Managementcol C$2K
Owns and owesPt X
$461K
net assets · Ln 32
Cash and savingsLn 1–2$47K
Total assetsLn 16$461K
LiabilitiesLn 26$0
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$71K
Noncash giftsLn 1g$9K
Fundraising eventsLn 1c$48K
Investment incomeLn 3$17K
Gains on assetsLn 7−$493
Total revenueLn 12$73K
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$46K
Cash and savings togetherLn 1–2$47K
InvestmentsLn 11–13$414K
Total assetsLn 16$461K
LiabilitiesLn 26$0
Net assetsLn 32$461K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$16K$47K
InvestmentsLn 11–13$426K$414K
Total assetsLn 16$442K$461K
LiabilitiesLn 26$0$0
Net assetsLn 32$442K$461K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K$2K
Grants to domestic individualsLn 2$65K$65K
Office expensesLn 13$2K$2K
Total functional expensesLn 25$69K$67K$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $73K$69K$4K$461K 990 PDF
FY2023 $41K$68K−$27K$442K 990 PDF
FY2022 $38K$57K−$19K$421K 990 PDF
FY2021 $39K$62K−$24K$521K 990 PDF
FY2020 $41K$74K−$33K$524K 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 FY2024 990 (6 parts)
Part I · Summary $72,751 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $31,247$70,801
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $10,100$17,029
I-11 Other revenuePrior year $0−$15,079
I-12 Total revenuePrior year $41,347$72,751
I-13 Grants and similar amounts paidPrior year $65,857$67,073
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,587$2,135
I-18 Total expensesPrior year $68,444$69,208
I-19 Revenue less expensesPrior year −$27,097$3,543
Part VI · Governance 13 of 13 board members independent, 4 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $72,751 across 8 lines filed
VIII-1c Fundraising events$47,994
VIII-1f All other contributions, gifts and grants$22,807
VIII-1g Noncash contributions (included above)$9,000
VIII-1h Total contributions, gifts and grants$70,801
VIII-3 Investment incomeRelated to mission $17,522$17,522
VIII-7 Net gain or loss on sales of assetsRelated to mission −$493−$493
VIII-8 Net income from fundraising eventsExcluded from tax −$15,079−$15,079
VIII-12 Total revenueRelated to mission $17,029 · Unrelated business $0 · Excluded from tax −$15,079$72,751
Part IX · Statement of functional expenses $69,208 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $2,000$2,000
IX-2 Grants to domestic individualsPrograms $65,073$65,073
IX-13 Office expensesManagement $2,135$2,135
IX-25 Total functional expensesPrograms $67,073 · Management $2,135 · Fundraising $0$69,208
Part X · Balance sheet $461,185 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $939$1,544
X-2 Savings and temporary cash investmentsStart of year $14,668$45,950
X-12 Other securitiesStart of year $426,105$413,691
X-16 Total assetsStart of year $441,712$461,185
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $441,712$461,185
X-33 Total liabilities and net assetsStart of year $441,712$461,185
Part XI · Reconciliation of net assets $461,185 net assets at year end
XI-1 Total revenue$72,751
XI-2 Total expenses$69,208
XI-3 Revenue less expenses$3,543
XI-4 Net assets at start of year$441,712
XI-5 Net unrealized gains (losses) on investments$15,930
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$461,185

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

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