Lift Foundation: Nonprofit Profile, Financials & Form 990 (EIN 38-1845192)

Revenue by fiscal year
FY2020	$243K
FY2021	$1.2M
FY2022	$2.6M
FY2023	$3.6M
FY2024	$495K

Expenses by fiscal year
FY2020	$305K
FY2021	$664K
FY2022	$762K
FY2023	$878K
FY2024	$723K

Net assets by fiscal year
FY2020	$2.3M
FY2021	$3.7M
FY2022	$5.7M
FY2023	$8.4M
FY2024	$8.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1967.

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

Where the money goes

97 cents of each dollar spent went to programs.

97%

Program services 97% · $698K Management & general 3% · $25K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation

Carole McNees

President

$0Pt VII · Sec A

David Anderson

Vice Preside

$0Pt VII · Sec A

Dee Velkoff

Treasurer

$0Pt VII · Sec A

Daniel McGlinn

Secretary

$0Pt VII · Sec A

Artrella Cohn

Director

$0Pt VII · Sec A

Stacey Randolph-Ledbetter

Director

$0Pt VII · Sec A

Steve Hassevoort

Director

$0Pt VII · Sec A

Michael Williams

Director

$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

Provides safe and affordable housing for families with limited income.

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Provided by the organization

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2 programs · $698K · in their own filed words · FY2024

01

Providing housing to persons of a low or moderate income. Providing a neighborhood network center to aid in self sufficiency.

$613Kprogram expense

02

Housing development and support

$85Kprogram 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 · FY2023

Kalamazoo Community FoundationFY2023$25K

Total grants receivedfrom 1 funder$25K

Grants paid · 5 grants · $165K · 2020–2024

Interfaith Homes of Kalamazoo INCMI · FY2024$29,603

Interfaith Homes of Kalamazoo INCMI · FY2023$51,599

1211 S WestnedgeFY2023$28,928

Interfaith Homes of Kalamazoo INCMI · FY2020$39,964

Kalamazoo Push for LearningFY2020$15,000

By the numbers

The FY2024 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$495K

Ln 12

Fees for servicesLn 2g$414K

Investment incomeLn 3$49K

Gifts and grantsLn 1h$29K

Money outPt IX

$723K

Ln 25

Programscol B$698K

Managementcol C$25K

Owns and owesPt X

$8.2M

net assets · Ln 32

Cash and savingsLn 1–2$1.8M

Total assetsLn 16$9.2M

LiabilitiesLn 26$1.0M

PeoplePt VI, VII

9

listed · VII A

PaidVII A0

Voting boardVI 1a11

IndependentVI 1b11

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$29K

Fees for servicesLn 2g$414K

Investment incomeLn 3$49K

Other incomeLn 4–11$4K

Total revenueLn 12$495K

Assets in detailPt X, end of year

CashLn 1$1.7M

SavingsLn 2$157K

Cash and savings togetherLn 1–2$1.8M

Land, buildings, equipmentLn 10c$6.4M

Other assetsLn 15$44K

Total assetsLn 16$9.2M

LiabilitiesLn 26$1.0M

Net assetsLn 32$8.2M

OperationsPt I, VI

EmployeesI 50

VolunteersI 611

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$2.1M	$1.8M
Land, buildings, equipmentLn 10c	$6.7M	$6.4M
Total assetsLn 16	$9.5M	$9.2M
LiabilitiesLn 26	$1.1M	$1.0M
Net assetsLn 32	$8.4M	$8.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$30K	$30K
Other salaries and wagesLn 7	$75K	$63K	$12K
Management feesLn 11a	$35K	$35K
Legal feesLn 11b	$12K	$8K	$4K
Accounting feesLn 11c	$11K	$4K	$7K
Other fees for servicesLn 11g	$49K	$49K
Advertising and promotionLn 12	$793	$780	$13
Office expensesLn 13	$31K	$29K	$2K
OccupancyLn 16	$130K	$130K
InterestLn 20	$16K	$16K
Depreciation, depletion and amortizationLn 22	$263K	$263K
InsuranceLn 23	$37K	$37K
Other expenses (24a–d)Ln 24	$35K	$35K
All other expensesLn 24e	$83	$83
Total functional expensesLn 25	$723K	$698K	$25K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$495K	$723K	−$227K	$8.2M	990 PDF
FY2023	$3.6M	$878K	$2.7M	$8.4M	990 PDF
FY2022	$2.6M	$762K	$1.8M	$5.7M	990 PDF
FY2021	$1.2M	$664K	$491K	$3.7M	990 PDF
FY2020	$243K	$305K	−$62K	$2.3M	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 $495,144 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $3,055,996$28,899

I-9 Program service revenuePrior year $518,802$413,928

I-10 Investment incomePrior year $15,479$48,631

I-11 Other revenue$3,686

I-12 Total revenuePrior year $3,590,277$495,144

I-13 Grants and similar amounts paidPrior year $80,527$29,603

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $97,317$74,829

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $700,103$618,134

I-18 Total expensesPrior year $877,947$722,566

I-19 Revenue less expensesPrior year $2,712,330−$227,422

Part VI · Governance 11 of 11 board members independent, 2 to look at

VI-1a Voting members of the governing body11

VI-1b Independent voting members11

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-12a Written conflict of interest policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $495,144 across 6 lines filed

Lines not itemized here account for −$91,161 of total revenue; see the IRS return.

VIII-1f All other contributions, gifts and grants$28,899

VIII-1h Total contributions, gifts and grants$28,899

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $505,089$505,089

VIII-3 Investment incomeExcluded from tax $48,631$48,631

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,686$3,686

VIII-12 Total revenueRelated to mission $417,614 · Excluded from tax $48,631$495,144

Part IX · Statement of functional expenses $722,566 across 14 lines filed

IX-1 Grants to domestic organizationsPrograms $29,603$29,603

IX-7 Other salaries and wagesPrograms $62,932 · Management $11,897$74,829

IX-11a Management feesPrograms $34,560$34,560

IX-11b Legal feesPrograms $7,757 · Management $4,040$11,797

IX-11c Accounting feesPrograms $4,140 · Management $6,610$10,750

IX-11g Other fees for servicesPrograms $48,580$48,580

IX-12 Advertising and promotionPrograms $780 · Management $13$793

IX-13 Office expensesPrograms $28,622 · Management $2,272$30,894

IX-16 OccupancyPrograms $129,759$129,759

IX-20 InterestPrograms $16,473$16,473

IX-22 Depreciation, depletion and amortizationPrograms $262,565$262,565

IX-23 InsurancePrograms $36,690$36,690

IX-24 Other expenses (24a–d)Programs $35,190$35,190

IX-24e All other expensesPrograms $83$83

IX-25 Total functional expensesPrograms $697,734 · Management $24,832 · Fundraising $0$722,566

Part X · Balance sheet $9,230,435 assets, 14 lines filed

Asset lines not itemized here account for $743,494; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $1,836,082$1,662,131

X-2 Savings and temporary cash investmentsStart of year $239,681$156,902

X-4 Accounts receivableStart of year $24,526$172,278

X-9 Prepaid expenses and deferred chargesStart of year $14,849$14,942

X-10c Land, buildings and equipment, netStart of year $6,684,333$6,436,945

X-15 Other assetsStart of year $34,800$43,743

X-16 Total assetsStart of year $9,544,717$9,230,435

X-17 Accounts payable and accrued expensesStart of year $49,726$36,433

X-19 Deferred revenueStart of year $10,712$4,395

X-25 Other liabilitiesStart of year $34,800$29,196

X-26 Total liabilitiesStart of year $1,130,905$1,044,045

X-27 Net assets without donor restrictionsStart of year $8,388,812$8,186,390

X-32 Total net assets or fund balancesStart of year $8,413,812$8,186,390

X-33 Total liabilities and net assetsStart of year $9,544,717$9,230,435

Part XI · Reconciliation of net assets $8,186,390 net assets at year end

XI-1 Total revenue$495,144

XI-2 Total expenses$722,566

XI-3 Revenue less expenses−$227,422

XI-4 Net assets at start of year$8,413,812

XI-10 Net assets at end of year$8,186,390

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

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Lift Foundation

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Lift Foundation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV