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Cherokee Crossroads Foundation INC

Tax-deductible

Dallas, TX501(c)(3)Foundations & Grantmakers EIN 42-1729036Revenue $1.6M in FY2024

On file with the IRS8111 Westchester Dr Ste 600, 75225-6142 · Dallas, TXTax-exempt since Nov 2009Publicly supported charity — 170(b)(1)(A)(vi)

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Put on a music festival to raise funds for grants to 501(c)3 organizations.

501(c)(3) charity; gifts are tax-deductible.
15¢ 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
2 of 5
filings with a surplus
Average deficit $25K a year · 2% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
15%
of spending
Concern: 15% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
−$25K
-3% of total assets
Looks good: liabilities are -3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
+9% vs prior year
Spent
$1.5M
To programs
15%
Net assets
$954K
By yearFY2020–FY2024
Revenue
$1.6M
FY2024▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$436K
FY2021$1.3M
FY2022$1.3M
FY2023$1.4M
FY2024$1.6M
Expenses
$1.5M
FY2024▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$372K
FY2021$1.4M
FY2022$1.4M
FY2023$1.5M
FY2024$1.5M
Net assets
$954K
FY2024▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2021$965K
FY2022$902K
FY2023$842K
FY2024$954K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2009.

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

Where the money goes

15 cents of each dollar spent went to programs.

Program services 15% · $214K Management & general 3% · $40K Fundraising 83% · $1.2M

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Renee Lorenz
Director
$0Pt VII · Sec A
Clay Kutch
Director
$0Pt VII · Sec A

Scott Beasley JR’s $30K as President is at the 3rd percentile of top reported officer pay among 1691 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Cherokee Crossroads 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 15aYes

Programs and updates

Presents a music festival, raising funds for grants to other nonprofits.

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Provided by the organization

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1 program · $214K · in their own filed words · FY2024
01

Donated funds to 501(c)3 organizations

$214Kprogram 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
Donor Advised Charitable Giving INCFY2024$15K
Total grants receivedfrom 1 funder$15K
Grants paid · 111 grants · $1.3M · 2020–2024
Cherokee Home for ChildrenTX · FY2024$60,000
Family Gateway INCTX · FY2024$35,000
Dallas Children's Advocacy CenterTX · FY2024$25,000
Big Brothers Big Sisters of AmericaFL · FY2024$15,000
Cherokee Volunteer Fire Department INCTX · FY2024$15,000
Salesmanship Club of DallasTX · FY2024$10,000
American National Red Cross & Its Constituent Chapters and BranchesDC · FY2024$5,000
Hero Community Program INCMD · FY2024$5,000
Lifesavers FoundationTX · FY2024$5,000
Texas Scottish Rite Hospital for Crippled ChildrenTX · FY2024$5,000
North Texas Food BankTX · FY2024$5,000
Make-A-Wish Foundation of North TexasTX · FY2024$2,500
Grant-A-Starr FoundationOR · FY2024$2,500
Hope Supply CoTX · FY2024$2,500
Chinn Guitar Project INCFY2024$2,500
S M Wright FoundationTX · FY2024$2,500
St Jude Children's Research Hospital INCTN · FY2024$2,500
Children's Medical Center FoundationTX · FY2024$2,500
See all 111 grants →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$1.5M
Other incomeLn 4–11$53K
Money outPt IX
$1.5M
Ln 25
Programscol B$214K
Managementcol C$40K
Fundraisingcol D$1.2M
Owns and owesPt X
$954K
net assets · Ln 32
Cash and savingsLn 1–2$319K
Total assetsLn 16$928K
LiabilitiesLn 26−$25K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Fundraising eventsLn 1c$1.5M
Other incomeLn 4–11$53K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$319K
Cash and savings togetherLn 1–2$319K
Land, buildings, equipmentLn 10c$589K
Total assetsLn 16$928K
LiabilitiesLn 26−$25K
Net assetsLn 32$954K
OperationsPt I, VI
EmployeesI 50
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 FY24End FY24
Cash and savingsLn 1–2$248K$319K
Land, buildings, equipmentLn 10c$614K$589K
Total assetsLn 16$913K$928K
LiabilitiesLn 26$71K−$25K
Net assetsLn 32$842K$954K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$214K$214K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$31K$31K
OccupancyLn 16$417K$417K
Depreciation, depletion and amortizationLn 22$25K$25K
InsuranceLn 23$19K$19K
Other expenses (24a–d)Ln 24$752K$7K$745K
Total functional expensesLn 25$1.5M$214K$40K$1.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.6M$1.5M$112K$954K 990 PDF
FY2023 $1.4M$1.5M−$60K$842K 990 PDF
FY2022 $1.3M$1.4M−$63K$902K 990 PDF
FY2021 $1.3M$1.4M−$176K$965K 990 PDF
FY2020 $436K$372K$64K$1.1M 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 $1,571,996 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,402,514$1,519,372
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $38,031$52,624
I-12 Total revenuePrior year $1,440,545$1,571,996
I-13 Grants and similar amounts paidPrior year $217,000$214,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,283,865$1,245,955
I-18 Total expensesPrior year $1,500,865$1,459,955
I-19 Revenue less expensesPrior year −$60,320$112,041
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 payYes
Part VIII · Statement of revenue $1,571,996 across 5 lines filed
Lines not itemized here account for $52,624 of total revenue; see the IRS return.
VIII-1c Fundraising events$1,485,612
VIII-1f All other contributions, gifts and grants$33,760
VIII-1h Total contributions, gifts and grants$1,519,372
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $52,624 · Unrelated business $0 · Excluded from tax $0$1,571,996
Part IX · Statement of functional expenses $1,459,955 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $214,000$214,000
IX-11c Accounting feesManagement $2,066$2,066
IX-11g Other fees for servicesManagement $30,653$30,653
IX-16 OccupancyFundraising $417,324$417,324
IX-22 Depreciation, depletion and amortizationFundraising $24,712$24,712
IX-23 InsuranceFundraising $19,142$19,142
IX-24 Other expenses (24a–d)Management $7,099 · Fundraising $744,959$752,058
IX-25 Total functional expensesPrograms $214,000 · Management $39,818 · Fundraising $1,206,137$1,459,955
Part X · Balance sheet $928,298 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $248,010$318,918
X-4 Accounts receivableStart of year $50,850$20,350
X-10c Land, buildings and equipment, netStart of year $613,742$589,030
X-16 Total assetsStart of year $912,602$928,298
X-17 Accounts payable and accrued expensesStart of year $70,938−$25,407
X-26 Total liabilitiesStart of year $70,938−$25,407
X-27 Net assets without donor restrictionsStart of year $49,706$161,747
X-28 Net assets with donor restrictionsStart of year $791,958$791,958
X-32 Total net assets or fund balancesStart of year $841,664$953,705
X-33 Total liabilities and net assetsStart of year $912,602$928,298
Part XI · Reconciliation of net assets $953,705 net assets at year end
XI-1 Total revenue$1,571,996
XI-2 Total expenses$1,459,955
XI-3 Revenue less expenses$112,041
XI-4 Net assets at start of year$841,664
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$953,705

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

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