The J127 Foundation: FY2021 Nonprofit Profile & Form 990 (EIN 45-0523312)

Revenue by fiscal year
FY2020	$288K
FY2021	−$1.8M
FY2022	$102K
FY2023	−$249K
FY2024	$1.1M
FY2025	$13.2M

Expenses by fiscal year
FY2020	$691K
FY2021	$373K
FY2022	$258K
FY2023	$284K
FY2024	$340K
FY2025	$340K

Net assets by fiscal year
FY2020	$11.0M
FY2021	$9.9M
FY2022	$8.5M
FY2023	$8.9M
FY2024	$10.0M
FY2025	$22.9M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2005.

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

Where the money goes

51 cents of each dollar spent went to programs.

51%

49%

Program services 51% · $190K Management & general 49% · $183K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Paul Klaassen

Chairman

$0Pt VII · Sec A

Teresa Klaassen

Vice Chairman

$0Pt VII · Sec A

Kathleen Dezio

Director

$0Pt VII · Sec A

Amy Feather

Director

$0Pt VII · Sec A

Leslie Hortum

Director

$0Pt VII · Sec A

Christin Soly

Secretary (non Voting)

$0Pt VII · Sec A

Stephen Roberson

Director of Finance

$0Pt VII · Sec A

See The J127 Foundation 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 15aNo

Programs and updates

Provides financial and debt guarantees to support educational initiatives.

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Provided by the organization

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2 programs · $190K · in their own filed words · FY2020

01

The foundation provides funding to assist in the operations of a conference and retreat leadership center in maryland.

$106Kprogram expense

02

The foundation funded certain professional fees and administrative expenses of the supported organization during july 1, 2020 to june 30, 2021. The assets of the j127 foundation provide a guarantee for outstanding bank loans held by the j127 education foundation.

$84Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking

Grants paid · 11 grants · $420K · 2019–2024

Merritt Academy Parent Teacher OrganizationVA · FY2024$77,229

Appletree PTOVA · FY2024$19,819

First Steps Academy Parent Teacher OrgFY2024$16,225

First Steps Academy Parent Teacher OrgFY2023$49,415

Merritt Academy Parent Teacher OrganizationVA · FY2023$43,263

Appletree PTOVA · FY2023$21,703

Merritt Academy Parent Teacher OrganizationVA · FY2022$43,023

Appletree PTOVA · FY2022$20,860

Merritt Academy Parent Teacher OrganizationVA · FY2021$10,728

Merritt Academy Parent Teacher OrganizationVA · FY2020$83,883

The J127 Education FoundationVA · FY2019$33,459

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

−$1.8M

Ln 12

Investment incomeLn 3$612K

Fees for servicesLn 2g$7K

Money outPt IX

$373K

Ln 25

Programscol B$190K

Managementcol C$183K

Owns and owesPt X

$9.9M

net assets · Ln 32

Cash and savingsLn 1–2$303K

Total assetsLn 16$27.6M

LiabilitiesLn 26$17.7M

PeoplePt VI, VII

7

listed · VII A

PaidVII A0

Voting boardVI 1a5

IndependentVI 1b3

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$7K

Investment incomeLn 3$612K

Gains on assetsLn 7−$2.4M

Total revenueLn 12−$1.8M

Assets in detailPt X, end of year

CashLn 1$303K

Cash and savings togetherLn 1–2$303K

InvestmentsLn 11–13$19.7M

Other assetsLn 15$5.3M

Total assetsLn 16$27.6M

LiabilitiesLn 26$17.7M

Net assetsLn 32$9.9M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

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

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$106K	$303K
InvestmentsLn 11–13	$15.7M	$19.7M
Total assetsLn 16	$24.0M	$27.6M
LiabilitiesLn 26	$13.1M	$17.7M
Net assetsLn 32	$11.0M	$9.9M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$84K	$84K
Management feesLn 11a	$928		$928
Accounting feesLn 11c	$520		$520
Investment management feesLn 11f	$115K		$115K
Office expensesLn 13	$7K		$7K
OccupancyLn 16	$53K	$53K
Depreciation, depletion and amortizationLn 22	$39K	$39K
InsuranceLn 23	$11K	$11K
Other expenses (24a–d)Ln 24	$63K	$2K	$61K
Total functional expensesLn 25	$373K	$190K	$183K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$13.2M	$340K	$12.8M	$22.9M	990 PDF
FY2024	$1.1M	$340K	$732K	$10.0M	990 PDF
FY2023	−$249K	$284K	−$533K	$8.9M	990 PDF
FY2022	$102K	$258K	−$156K	$8.5M	990 PDF
FY2021 Viewing	−$1.8M	$373K	−$2.1M	$9.9M	990 PDF
FY2020	$288K	$691K	−$402K	$11.0M	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 FY2021 990 (6 parts)

Part I · Summary −$1,770,149 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $48,554$6,932

I-10 Investment incomePrior year $239,942−$1,777,081

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $288,496−$1,770,149

I-13 Grants and similar amounts paidPrior year $33,459$83,883

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 $657,067$289,083

I-18 Total expensesPrior year $690,526$372,966

I-19 Revenue less expensesPrior year −$402,030−$2,143,115

Part VI · Governance 3 of 5 board members independent, 2 to look at

VI-1a Voting members of the governing body5

VI-1b Independent voting members3

VI-2 Family or business relationship among officers or directorsYes

VI-15a Process for setting top official's payNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue −$1,770,149 across 4 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,932$6,932

VIII-3 Investment incomeExcluded from tax $611,815$611,815

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$2,388,896−$2,388,896

VIII-12 Total revenueRelated to mission $6,932 · Unrelated business $0 · Excluded from tax −$1,777,081−$1,770,149

Part IX · Statement of functional expenses $372,966 across 9 lines filed

IX-1 Grants to domestic organizationsPrograms $83,883$83,883

IX-11a Management feesManagement $928$928

IX-11c Accounting feesManagement $520$520

IX-11f Investment management feesManagement $114,656$114,656

IX-13 Office expensesManagement $6,791$6,791

IX-16 OccupancyPrograms $53,378$53,378

IX-22 Depreciation, depletion and amortizationPrograms $39,178$39,178

IX-23 InsurancePrograms $10,951$10,951

IX-24 Other expenses (24a–d)Programs $2,119 · Management $60,562$62,681

IX-25 Total functional expensesPrograms $189,509 · Management $183,457 · Fundraising $0$372,966

Part X · Balance sheet $27,594,558 assets, 8 lines filed

Asset lines not itemized here account for $2,300,000; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $105,702$302,814

X-11 Publicly traded securitiesStart of year $15,706,926$19,656,545

X-15 Other assetsStart of year $3,299,995$5,335,199

X-16 Total assetsStart of year $24,041,572$27,594,558

X-25 Other liabilitiesStart of year $9,773,023$12,333,617

X-26 Total liabilitiesStart of year $13,073,018$17,668,603

X-32 Total net assets or fund balancesStart of year $10,968,554$9,925,955

X-33 Total liabilities and net assetsStart of year $24,041,572$27,594,558

Part XI · Reconciliation of net assets $9,925,955 net assets at year end

XI-1 Total revenue−$1,770,149

XI-2 Total expenses$372,966

XI-3 Revenue less expenses−$2,143,115

XI-4 Net assets at start of year$10,968,554

XI-5 Net unrealized gains (losses) on investments$1,112,388

XI-8 Prior period adjustments−$11,872

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$9,925,955

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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The J127 Foundation FY2021 filing

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 The J127 Foundation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV