Chad a Jacobs Memorial Foundation EIN 27-2884884

Chad a Jacobs Memorial Foundation

EIN  27-2884884 Public foundation / grantmaker Westport, CT
Form 990 (PDF) Compare with another nonprofit →
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Size
<$100K
What they do
Provides scholarships for local children with financial need to pursue academics and athletics.
Leadership
Karen Jacobs · Chair
Money in and out
$73K revenue, $69K expenses
Bottom line
97% program efficiency

Provides scholarships for local children with financial need to pursue academics and athletics. For fiscal year 2024 it reported $73K in revenue, $69K in expenses, and $461K in net assets.Pt I

Grants paid & assets · FY2024
Total revenue
$73K
Pt VIII · Ln 12
Total expenses
$69K
Pt IX · Ln 25
Net assets
$461K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $4K
Where spending went · Part IX cols B–D
Program services $0.97 Management & general $0.03
Program efficiency
97%
of spending reaches programs▲ +1% vs prior filing year
Operating runway
91.9mo
months of highly liquid reserves at operating expense rate▲ +19% vs prior filing year
Surplus margin
+5%
revenue over expenses, this year▲ +107% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$73K
FY2024▲ +76%
Expenses
$69K
FY2024▲ +1%
Total assets
$461K
FY2024▲ +4%
Total liabilities
$0
FY2024
Total revenue
$73K
Pt VIII · Ln 12
Total expenses
$69K
Pt IX · Ln 25
Net assets
$461K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$4K
Total assetsPt X · Ln 16$461K
Program-expense ratioPt IX · col B97%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413
Mission & Programs · Part III

Where the work happens

1 program service account for $67K of program spending, described in the organization's 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

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CChad a Jacobs Memorial Foundation
EINHdr · item D27-2884884
Principal addressHdr · item CWestport, CT
WebsiteHdr · item Jwww.cajfoundation.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T30)
Ruling yearIRS BMFJan 2011

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b13
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Assistant Chair
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Chad a Jacobs Memorial Foundation executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$71K · 97%
Investment income$17K · 23%
Contributions & grants97%$71K
Investment income23%$17K
Total revenueLn 12$73K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.97 Management & general $0.03
Program services97%$67K
Management & general3%$2K
Total functional expensesLn 25$69K

Balance Sheet

Part X · end of year
CashLn 1$47K
Total assetsLn 16$461K
Total liabilitiesLn 26$0
Total net assetsLn 32$461K
Months of cash on handcomputed8.2

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $461K · Operating expenses (Pt IX) $69K · Less non-cash grants $9K · Cash operating expenses/yr $60K
91.9 months
Where the money goes
Program services
Program services $67K · Total expenses $69K
97%
Management & General
Management & general $2K · Total expenses $69K
3%
Fundraising
Fundraising $0 · Total expenses $69K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $41K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $71K · Total revenue $73K
97%
Government reliance
Government grants — · Total revenue $73K
Earned-income share
Program service revenue $0 · Total revenue $73K
0%
Investment reliance
Investment income $17K · Total revenue $73K
+23%
Program self-sufficiency
Program service revenue $0 · Total expenses $69K
0%
Growth & trend
Revenue growth (YoY)
This year $73K · Prior year $41K
+76%
Revenue CAGR
FY2020 $41K · FY2024 $73K
+15%
Net-asset trend (YoY)
End of year $461K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $73K · Expenses $69K
+5%
Liabilities-to-Assets
Total liabilities — · Total assets $461K
Net-asset ratio
Net assets $461K · Total assets $461K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $414K · Total assets (Pt X, ln 16) $461K
90%
People & payroll
Highest Reported Total Compensation
Individual Karen Jacobs · Reported title CHAIR · Highest reported compensation $0 · Total expenses $69K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $69K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 97%
Overhead ratio 3%
Fundraising cost ratio 0%
Revenue growth 76%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$5K
Grants paid · 13 grants · $297K · 2020–2024
Unitemized GrantFY2024$28,525
Act of KindnessFY2023$6,150
UconnFY2023$6,000
Act of KindnessFY2022$26,844
Act of KindnessFY2021$15,308
Seize the DayFY2021$5,750
Seize the DayFY2020$20,000
Act of KindnessFY2020$15,200

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$73K revenue · viewing · ⤓ 990 PDF
FY2023$41K revenue · ⤓ 990 PDF
FY2022$38K revenue · ⤓ 990 PDF
FY2021$39K revenue · ⤓ 990 PDF
FY2020$41K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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