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510 Foundation FY2020 filing

Tax-deductible

Nashville, TN501(c)(3)Since 2012Foundations & Grantmakers EIN 45-5352900Revenue $269K in FY2020

On file with the IRS510 Woodland St, 37206-4210 · Nashville, TNTax-exempt since Sep 2014Publicly supported charity — 170(b)(1)(A)(vi)

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The corporation is organized for religious, charitable and educational purposes to fund programs in support of local ministries of nashville first church of the nazarene and other exempt organizations that benefit communities in middle tennessee.

501(c)(3) charity; gifts are tax-deductible.
69¢ 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
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
2 of 6
filings with a surplus
Average surplus $1K a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Plus $1.2M in investments, Pt X · Ln 11–13
Fine: 2.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $100K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$122K
10% of total assets
Looks good: liabilities are 10% 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
$269K
Spent
$322K
To programs
69%
Net assets
$1.1M
By yearFY2020–FY2025
Revenue
$269K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$269K
FY2021$809K
FY2022$485K
FY2023$1.2M
FY2024$1.1M
FY2025$964K
Expenses
$322K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$322K
FY2021$525K
FY2022$678K
FY2023$921K
FY2024$1.3M
FY2025$1.0M
Net assets
$1.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2021$1.4M
FY2022$1.2M
FY2023$1.4M
FY2024$1.4M
FY2025$1.3M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 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 Sep 2014.

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

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $224K Management & general 29% · $95K Fundraising 1% · $4K

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
David Haynes
President
$0Pt VII · Sec A
Eric Jans
Secretary
$0Pt VII · Sec A
Stephen Reed
Treasurer
$0Pt VII · Sec A
Patrick Clemens
Board Member
$0Pt VII · Sec A
Kevin Ulmet
Board Member
$0Pt VII · Sec A
Gerald Quick
Board Member
$0Pt VII · Sec A
Verlyn Steward
Board Member
$0Pt VII · Sec A
Don Twining
Board Member
$0Pt VII · Sec A
See 510 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds local ministries and charitable programs benefiting Middle Tennessee communities.

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Provided by the organization

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3 programs · $224K · in their own filed words · FY2020
01

East nashville life (a ministry of nashville first church of the nazarene to the east nashville community) - 510 foundation granted funds to provide outreach services including counseling, recreation, food and household supplies to needy individuals and families, language, art and music lessons.

$142Kprogram expense
02

Nashville First Church of the Nazarene

Support of various ministries of nashville first church of the nazarene.

$49Kprogram expense
03

Cheryl's list (a division of the corporation) provides beds, new bedding and used furniture to needy individuals and families in the nashville community.

$33Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Rockefeller Philanthropy Advisors INCFY2024$100K
Total grants receivedfrom 1 funder$100K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$269K
Ln 12
Investment incomeLn 3$147K
Gifts and grantsLn 1h$122K
Money outPt IX
$322K
Ln 25
Programscol B$224K
Managementcol C$95K
Fundraisingcol D$4K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$61K
Total assetsLn 16$1.2M
LiabilitiesLn 26$122K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$122K
Investment incomeLn 3$147K
Total revenueLn 12$269K
Assets in detailPt X, end of year
CashLn 1$21K
SavingsLn 2$40K
Cash and savings togetherLn 1–2$61K
InvestmentsLn 11–13$1.2M
Total assetsLn 16$1.2M
LiabilitiesLn 26$122K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$147K$61K
InvestmentsLn 11–13$1.0M$1.2M
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$13K$122K
Net assetsLn 32$1.2M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$5K$5K
Investment management feesLn 11f$8K$8K
Other expenses (24a–d)Ln 24$225K$144K$81K
All other expensesLn 24e$84K$80K$4K
Total functional expensesLn 25$322K$224K$95K$4K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $964K$1.0M−$63K$1.3M 990 PDF
FY2024 $1.1M$1.3M−$198K$1.4M 990 PDF
FY2023 $1.2M$921K$231K$1.4M 990 PDF
FY2022 $485K$678K−$194K$1.2M 990 PDF
FY2021 $809K$525K$284K$1.4M 990 PDF
FY2020 Viewing $269K$322K−$53K$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 FY2020 990 (6 parts)
Part I · Summary $269,071 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $371,688$121,698
I-9 Program service revenue$0
I-10 Investment incomePrior year $207,473$147,373
I-11 Other revenue$0
I-12 Total revenuePrior year $579,161$269,071
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $375,561$322,325
I-18 Total expensesPrior year $375,561$322,325
I-19 Revenue less expensesPrior year $203,600−$53,254
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction 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
Part VIII · Statement of revenue $269,071 across 4 lines filed
VIII-1f All other contributions, gifts and grants$121,698
VIII-1h Total contributions, gifts and grants$121,698
VIII-3 Investment incomeRelated to mission $147,373$147,373
VIII-12 Total revenueRelated to mission $147,373$269,071
Part IX · Statement of functional expenses $322,325 across 4 lines filed
IX-11c Accounting feesManagement $5,000$5,000
IX-11f Investment management feesManagement $8,304$8,304
IX-24 Other expenses (24a–d)Programs $143,858 · Management $81,493$225,351
IX-24e All other expensesPrograms $79,891 · Fundraising $3,779$83,670
IX-25 Total functional expensesPrograms $223,749 · Management $94,797 · Fundraising $3,779$322,325
Part X · Balance sheet $1,243,067 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $55,798$21,448
X-2 Savings and temporary cash investmentsStart of year $91,238$39,977
X-11 Publicly traded securitiesStart of year $1,040,160$1,181,642
X-16 Total assetsStart of year $1,187,196$1,243,067
X-17 Accounts payable and accrued expensesStart of year $12,873$121,998
X-26 Total liabilitiesStart of year $12,873$121,998
X-27 Net assets without donor restrictionsStart of year $1,174,323$1,121,069
X-32 Total net assets or fund balancesStart of year $1,174,323$1,121,069
X-33 Total liabilities and net assetsStart of year $1,187,196$1,243,067
Part XI · Reconciliation of net assets $1,121,069 net assets at year end
XI-1 Total revenue$269,071
XI-2 Total expenses$322,325
XI-3 Revenue less expenses−$53,254
XI-4 Net assets at start of year$1,174,323
XI-10 Net assets at end of year$1,121,069

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

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