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Jubilee Foundation INC FY2022 filing

Kensington, MDUnknown exempt organization EIN 52-1698505Revenue $896K in FY2022

On file with the IRSjubileemd.org10408 Montgomery Avenue · Kensington, MD

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To support Jubilee association of maryland, INC.

33¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $349K a year · 68% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
33%
of spending
Concern: 33% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$141K
27% of total assets
Looks good: liabilities are 27% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$896K
+14% vs prior year
Spent
$55K
To programs
33%
Net assets
$373K
By yearFY2020–FY2023
Revenue
$896K
FY2022▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2020$363K
FY2021$784K
FY2022$896K
FY2023$16K
Expenses
$55K
FY2022▼ -89%
Tap a bar for its year
Expenses by fiscal year
FY2020$105K
FY2021$481K
FY2022$55K
FY2023$23K
Net assets
$373K
FY2022▼ -86%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.0M
FY2021$2.6M
FY2022$373K
FY2023$0

From the FY2022 Form 990 (year ending June 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

33 cents of each dollar spent went to programs.

Program services 33% · $18K Management & general 65% · $36K Fundraising 2% · $1K

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 (FY2021); the FY2022 filing did not itemize Part VII
Benjamin Apt
President
$0Pt VII · Sec A
Paul Sexton
Vice President
$0Pt VII · Sec A
Chris Urban
Treasurer
$0Pt VII · Sec A
Gal Mesika
Secretary
$0Pt VII · Sec A
Joan Fidler
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Steve Brent
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Jubilee 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 15aNo

Programs and updates

Supports the Jubilee Association of Maryland, Inc.

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Provided by the organization

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1 program · $18K · in their own filed words · FY2021
01

To provide support to jubilee association of maryland, inc. In the form of grants and provide rental residences for use by the association's personal support (PS) clients.

$18Kprogram 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 · FY2020
Greater Washington Community FoundationFY2020$20K
Total grants receivedfrom 1 funder$20K
Grants paid · 3 grants · $503K · 2019–2020
The Jubilee Association of Maryland INCMD · FY2020$397,436
The Jubilee Association of Maryland INCMD · FY2019$52,700
The Jubilee Association of Maryland INCMD · FY2019$52,700

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$896K
Ln 12
Gifts and grantsLn 1h$813K
Investment incomeLn 3$60K
Fees for servicesLn 2g$24K
Money outPt IX
$55K
Ln 25
Programscol B$18K
Managementcol C$36K
Fundraisingcol D$1K
Owns and owesPt X
$373K
net assets · Ln 32
Cash and savingsLn 1–2$16K
Total assetsLn 16$514K
LiabilitiesLn 26$141K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$813K
Noncash giftsLn 1g$426K
Fundraising eventsLn 1c$28K
Fees for servicesLn 2g$24K
Investment incomeLn 3$60K
Gains on assetsLn 7−$26K
Total revenueLn 12$896K
Assets in detailPt X, end of year
SavingsLn 2$16K
Cash and savings togetherLn 1–2$16K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$498K
Total assetsLn 16$514K
LiabilitiesLn 26$141K
Net assetsLn 32$373K
OperationsPt I, VI
EmployeesI 50
VolunteersI 618
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
LineStart FY22End FY22
Cash and savingsLn 1–2$253K$16K
InvestmentsLn 11–13$1.9M$0
Land, buildings, equipmentLn 10c$155K$498K
Total assetsLn 16$2.6M$514K
LiabilitiesLn 26$0$141K
Net assetsLn 32$2.6M$373K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$4K$4K
Investment management feesLn 11f$6K$6K
Office expensesLn 13$1K$64$1K
OccupancyLn 16$626$626
Payments to affiliatesLn 21$25K$25K
Depreciation, depletion and amortizationLn 22$10K$10K
Other expenses (24a–d)Ln 24$7K$7K$200
Total functional expensesLn 25$55K$18K$36K$1K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $16K$23K−$7K$0 990 PDF
FY2022 Viewing $896K$55K$840K$373K 990 PDF
FY2021 $784K$481K$302K$2.6M 990 PDF
FY2020 $363K$105K$259K$2.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants M · Noncash O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $895,704 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $680,289$812,605
I-9 Program service revenuePrior year $23,400$23,517
I-10 Investment incomePrior year $106,396$60,412
I-11 Other revenuePrior year −$26,562−$830
I-12 Total revenuePrior year $783,523$895,704
I-13 Grants and similar amounts paidPrior year $397,436$0
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 $83,867$55,283
I-18 Total expensesPrior year $481,303$55,283
I-19 Revenue less expensesPrior year $302,220$840,421
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $895,704 across 9 lines filed
VIII-1c Fundraising events$27,500
VIII-1f All other contributions, gifts and grants$785,105
VIII-1g Noncash contributions (included above)$426,000
VIII-1h Total contributions, gifts and grants$812,605
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $23,517$23,517
VIII-3 Investment incomeExcluded from tax $86,040$86,040
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$25,628−$25,628
VIII-8 Net income from fundraising eventsExcluded from tax −$830−$830
VIII-12 Total revenueRelated to mission $23,517 · Unrelated business $0 · Excluded from tax $59,582$895,704
Part IX · Statement of functional expenses $55,283 across 7 lines filed
IX-11b Legal feesManagement $4,160$4,160
IX-11f Investment management feesManagement $6,323$6,323
IX-13 Office expensesManagement $64 · Fundraising $1,216$1,280
IX-16 OccupancyPrograms $626$626
IX-21 Payments to affiliatesManagement $24,970$24,970
IX-22 Depreciation, depletion and amortizationPrograms $10,485$10,485
IX-24 Other expenses (24a–d)Programs $7,239 · Management $200$7,439
IX-25 Total functional expensesPrograms $18,350 · Management $35,717 · Fundraising $1,216$55,283
Part X · Balance sheet $513,609 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $252,666$15,864
X-3 Pledges and grants receivableStart of year $329,651$0
X-4 Accounts receivableStart of year $650$0
X-10c Land, buildings and equipment, netStart of year $154,930$497,745
X-11 Publicly traded securitiesStart of year $1,869,728$0
X-16 Total assetsStart of year $2,607,625$513,609
X-17 Accounts payable and accrued expenses$830
X-25 Other liabilitiesStart of year $0$140,219
X-26 Total liabilitiesStart of year $0$141,049
X-27 Net assets without donor restrictionsStart of year $1,118,798$372,560
X-28 Net assets with donor restrictionsStart of year $1,488,827$0
X-32 Total net assets or fund balancesStart of year $2,607,625$372,560
X-33 Total liabilities and net assetsStart of year $2,607,625$513,609
Part XI · Reconciliation of net assets $372,560 net assets at year end
XI-1 Total revenue$895,704
XI-2 Total expenses$55,283
XI-3 Revenue less expenses$840,421
XI-4 Net assets at start of year$2,607,625
XI-5 Net unrealized gains (losses) on investments−$417,940
XI-9 Other changes in net assets−$2,657,546
XI-10 Net assets at end of year$372,560

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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