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Lees Summit Educational Foundation INC FY2023 filing

Tax-deductible

Lees Summit, MO501(c)(3)Foundations & Grantmakers EIN 43-1615117Revenue $832K in FY2023

On file with the IRSlsedfoundation.com301 Ne Tudor Rd, 64086-5702 · Lees Summit, MOTax-exempt since Feb 1993Publicly supported charity — 170(b)(1)(A)(vi)

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The lee's Summit Educational Foundation promotes excellence in education by awarding gifts, grants and scholarships to Educational areas within the lee's Summit r-7 school district that are effective, essential and in need of additional funding. We DO that by generating and guiding philanthropic resources through personal and corporate contributions, planned giving, and events.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $454K a year · 45% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Plus $7.9M in investments, Pt X · Ln 11–13
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$209K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$832K
-11% vs prior year
Spent
$668K
To programs
80%
Net assets
$7.8M
By yearFY2020–FY2025
Revenue
$832K
FY2023▼ -11%
Tap a bar for its year
Revenue by fiscal year
FY2020$934K
FY2021$1.2M
FY2022$939K
FY2023$832K
FY2024$917K
FY2025$1.2M
Expenses
$668K
FY2023▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$488K
FY2021$416K
FY2022$660K
FY2023$668K
FY2024$543K
FY2025$504K
Net assets
$7.8M
FY2023▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.7M
FY2021$8.1M
FY2022$7.2M
FY2023$7.8M
FY2024$8.8M
FY2025$10.1M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1993.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $537K Management & general 17% · $116K Fundraising 2% · $14K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Mike Chiles
Director
$0Pt VII · Sec A
Sid Douglas
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Trish Frevert
Secretary
$0Pt VII · Sec A
Jim Green
Director
$0Pt VII · Sec A
Tom Jackson
Treasurer
$0Pt VII · Sec A
Rosalie Newkirk
Vice Preside
$0Pt VII · Sec A
See Lees Summit Educational 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Awards grants and scholarships to support effective and essential educational programs in Lee's Summit schools.

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Provided by the organization

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3 programs · $537K · in their own filed words · FY2022
01

The organization provided funds to the lee's summit r-7 school district for technology and other special needs in the classrooms.

$383Kprogram expense
02

The organization provided scholarships to graduating seniors across the lee's summit r-7 school district.

$89Kprogram expense
03

Peak grants to the lee's summit r-7 school district are competitive classroom grants that promote excellence and knowledge.

$64Kprogram 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
Greater Kansas City Community FoundationFY2024$8K
Total grants receivedfrom 1 funder$8K
Grants paid · 12 grants · $861K · 2019–2024
Unitemized GrantFY2024$93,050
R-7 School DistrictFY2024$45,555
Unitemized GrantFY2023$97,160
R-7 School DistrictFY2023$60,608
Unitemized GrantFY2022$89,200
R-7 School DistrictFY2022$64,315
Unitemized GrantFY2021$87,250
R-7 School DistrictFY2021$63,727
Unitemized GrantFY2020$58,750
R-7 School DistrictFY2020$51,925
Unitemized GrantFY2019$83,250
R-7 School DistrictFY2019$66,578

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$832K
Ln 12
Gifts and grantsLn 1h$490K
Investment incomeLn 3$244K
Other incomeLn 4–11$99K
Money outPt IX
$668K
Ln 25
Programscol B$537K
Managementcol C$116K
Fundraisingcol D$14K
Owns and owesPt X
$7.8M
net assets · Ln 32
Cash and savingsLn 1–2$77K
Total assetsLn 16$8.0M
LiabilitiesLn 26$209K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$490K
Noncash giftsLn 1g$70K
Fundraising eventsLn 1c$70K
Investment incomeLn 3$244K
Other incomeLn 4–11$99K
Gains on assetsLn 7$76K
Total revenueLn 12$832K
Assets in detailPt X, end of year
CashLn 1$42K
SavingsLn 2$35K
Cash and savings togetherLn 1–2$77K
InvestmentsLn 11–13$7.9M
Total assetsLn 16$8.0M
LiabilitiesLn 26$209K
Net assetsLn 32$7.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6119
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.1M$77K
InvestmentsLn 11–13$6.3M$7.9M
Total assetsLn 16$7.4M$8.0M
LiabilitiesLn 26$216K$209K
Net assetsLn 32$7.2M$7.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$64K$64K
Grants to domestic individualsLn 2$89K$89K
Management feesLn 11a$71K$71K
Legal feesLn 11b$585$585
Accounting feesLn 11c$15K$15K
Investment management feesLn 11f$18K$18K
Other fees for servicesLn 11g$8K$8K
Office expensesLn 13$816$816
Information technologyLn 14$8K$2K$2K$5K
Other expenses (24a–d)Ln 24$393K$382K$1K$10K
Total functional expensesLn 25$668K$537K$116K$14K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.2M$504K$674K$10.1M 990 PDF
FY2024 $917K$543K$374K$8.8M 990 PDF
FY2023 Viewing $832K$668K$164K$7.8M 990 PDF
FY2022 $939K$660K$278K$7.2M 990 PDF
FY2021 $1.2M$416K$783K$8.1M 990 PDF
FY2020 $934K$488K$447K$6.7M 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 M · Noncash O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $831,976 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $451,523$489,537
I-9 Program service revenue$0
I-10 Investment incomePrior year $406,575$243,811
I-11 Other revenuePrior year $80,550$98,628
I-12 Total revenuePrior year $938,648$831,976
I-13 Grants and similar amounts paidPrior year $150,977$153,515
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $509,459$514,038
I-18 Total expensesPrior year $660,436$667,553
I-19 Revenue less expensesPrior year $278,212$164,423
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $831,976 across 8 lines filed
VIII-1c Fundraising events$69,765
VIII-1f All other contributions, gifts and grants$419,772
VIII-1g Noncash contributions (included above)$69,765
VIII-1h Total contributions, gifts and grants$489,537
VIII-3 Investment incomeExcluded from tax $168,132$168,132
VIII-7 Net gain or loss on sales of assetsRelated to mission $75,679$75,679
VIII-8 Net income from fundraising eventsExcluded from tax $98,628$98,628
VIII-12 Total revenueRelated to mission $75,679 · Excluded from tax $266,760$831,976
Part IX · Statement of functional expenses $667,553 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $64,315$64,315
IX-2 Grants to domestic individualsPrograms $89,200$89,200
IX-11a Management feesManagement $71,062$71,062
IX-11b Legal feesManagement $585$585
IX-11c Accounting feesManagement $14,693$14,693
IX-11f Investment management feesManagement $18,489$18,489
IX-11g Other fees for servicesManagement $7,831$7,831
IX-13 Office expensesManagement $816$816
IX-14 Information technologyPrograms $1,546 · Management $1,546 · Fundraising $4,791$7,883
IX-24 Other expenses (24a–d)Programs $381,878 · Management $1,255 · Fundraising $9,546$392,679
IX-25 Total functional expensesPrograms $536,939 · Management $116,277 · Fundraising $14,337$667,553
Part X · Balance sheet $8,003,244 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $92,333$41,617
X-2 Savings and temporary cash investmentsStart of year $1,052,468$35,294
X-11 Publicly traded securitiesStart of year $6,273,386$6,918,137
X-12 Other securities$1,008,196
X-16 Total assetsStart of year $7,418,187$8,003,244
X-18 Grants payableStart of year $50,593$57,992
X-19 Deferred revenueStart of year $34,100$29,000
X-25 Other liabilitiesStart of year $131,350$122,050
X-26 Total liabilitiesStart of year $216,043$209,042
X-27 Net assets without donor restrictionsStart of year $4,521,958$5,014,839
X-28 Net assets with donor restrictionsStart of year $2,680,186$2,779,363
X-32 Total net assets or fund balancesStart of year $7,202,144$7,794,202
X-33 Total liabilities and net assetsStart of year $7,418,187$8,003,244
Part XI · Reconciliation of net assets $7,794,202 net assets at year end
XI-1 Total revenue$831,976
XI-2 Total expenses$667,553
XI-3 Revenue less expenses$164,423
XI-4 Net assets at start of year$7,202,144
XI-5 Net unrealized gains (losses) on investments$427,635
XI-10 Net assets at end of year$7,794,202

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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