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Lift Foundation FY2020 filing

Tax-deductible

Portage, MI501(c)(3)Human ServicesEIN 38-1845192Revenue $243K in FY2020

On file with the IRStheliftfoundation.org2725 Airview Blvd Ste 202, 49002-1805 · Portage, MITax-exempt since Mar 1967Supporting organization — 509(a)(3)

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Provide housing for low income families.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
3 of 5
filings with a surplus
Average surplus $941K a year · 59% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
101 mo
of spending, in cash
Looks good: 100.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.0M
31% of total assets
Looks good: liabilities are 31% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$243K
Spent
$305K
To programs
93%
Net assets
$2.3M
By yearFY2020–FY2024
Revenue
$243K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$243K
FY2021$1.2M
FY2022$2.6M
FY2023$3.6M
FY2024$495K
Expenses
$305K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$305K
FY2021$664K
FY2022$762K
FY2023$878K
FY2024$723K
Net assets
$2.3M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.3M
FY2021$3.7M
FY2022$5.7M
FY2023$8.4M
FY2024$8.2M

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 Mar 1967.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $285K Management & general 7% · $20K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
Dee Velkoff
President
$0Pt VII · Sec A
David F Anderson
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Carole McNees
Treasurer
$0Pt VII · Sec A
Jodi Milks
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$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 · $285K · in their own filed words · FY2020
01

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

$242Kprogram expense
02

Development of new hud property

$43Kprogram 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 FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$243K
Ln 12
Fees for servicesLn 2g$194K
Gifts and grantsLn 1h$32K
Investment incomeLn 3$17K
Money outPt IX
$305K
Ln 25
Programscol B$285K
Managementcol C$20K
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$2.6M
Total assetsLn 16$3.3M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$32K
Fees for servicesLn 2g$194K
Investment incomeLn 3$17K
Total revenueLn 12$243K
Assets in detailPt X, end of year
CashLn 1$2.6M
Cash and savings togetherLn 1–2$2.6M
InvestmentsLn 11–13−$92K
Total assetsLn 16$3.3M
LiabilitiesLn 26$1.0M
Net assetsLn 32$2.3M
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
LineStart FY20End FY20
Cash and savingsLn 1–2$1.4M$2.6M
InvestmentsLn 11–13−$79K−$92K
Total assetsLn 16$2.4M$3.3M
LiabilitiesLn 26$34K$1.0M
Net assetsLn 32$2.3M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$70K$70K
Legal feesLn 11b$49K$43K$6K
Accounting feesLn 11c$9K$9K
Office expensesLn 13$5K$5K
Other expenses (24a–d)Ln 24$172K$172K
Total functional expensesLn 25$305K$285K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $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 Viewing $243K$305K−$62K$2.3M 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 $242,743 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$31,775
I-9 Program service revenuePrior year $377,651$193,800
I-10 Investment incomePrior year $33,246$17,168
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $410,897$242,743
I-13 Grants and similar amounts paidPrior year $0$69,954
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 $99,341$235,255
I-18 Total expensesPrior year $99,341$305,209
I-19 Revenue less expensesPrior year $311,556−$62,466
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 $242,743 across 5 lines filed
VIII-1f All other contributions, gifts and grants$31,775
VIII-1h Total contributions, gifts and grants$31,775
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $193,800$193,800
VIII-3 Investment incomeRelated to mission $12,471 · Excluded from tax $4,697$17,168
VIII-12 Total revenueRelated to mission $206,271 · Unrelated business $0 · Excluded from tax $4,697$242,743
Part IX · Statement of functional expenses $305,209 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $69,954$69,954
IX-11b Legal feesPrograms $43,175 · Management $5,620$48,795
IX-11c Accounting feesManagement $9,235$9,235
IX-13 Office expensesManagement $4,993$4,993
IX-24 Other expenses (24a–d)Programs $172,232$172,232
IX-25 Total functional expensesPrograms $285,361 · Management $19,848 · Fundraising $0$305,209
Part X · Balance sheet $3,269,310 assets, 10 lines filed
Asset lines not itemized here account for $382,406; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,393,439$2,566,865
X-4 Accounts receivableStart of year $405,702$411,588
X-13 Program-related investmentsStart of year −$79,248−$91,549
X-16 Total assetsStart of year $2,352,773$3,269,310
X-17 Accounts payable and accrued expensesStart of year $5,400$13,178
X-25 Other liabilitiesStart of year $28,775$1,000,000
X-26 Total liabilitiesStart of year $34,175$1,013,178
X-27 Net assets without donor restrictionsStart of year $2,318,598$2,256,132
X-32 Total net assets or fund balancesStart of year $2,318,598$2,256,132
X-33 Total liabilities and net assetsStart of year $2,352,773$3,269,310
Part XI · Reconciliation of net assets $2,256,132 net assets at year end
XI-1 Total revenue$242,743
XI-2 Total expenses$305,209
XI-3 Revenue less expenses−$62,466
XI-4 Net assets at start of year$2,318,598
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,256,132

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

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