Lees Friends EIN 54-1533488 Form 990 (PDF) Claim this org

Lees Friends FY2023 filing

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Provides emotional and practical support to cancer patients and their families during diagnosis and treatment. For fiscal year 2023 it reported $266K in revenue, $360K in expenses, and $1.8M in net assets.Pt I

Type
Public charity (501(c)(3)) · Nonprofit
Location
Norfolk, VA
Website
www.leesfriends.org
Filings
5 on file (2020–2023)
Revenue
$266KFY2023
Expenses
$360K
Net assets
$1.8M
People
11
Filings
5
Updates
0
More identity details & actions ⌄
EIN  54-1533488 Public charity (501(c)(3)) Norfolk, VA
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Provides emotional and practical support to cancer patients and their families during diagnosis and treatment.
Leadership
Carol Olsen · Executive Di · $70K
Money in and out
$266K revenue, $360K expenses
Bottom line
79% program efficiency
Where the money goes · FY2023
Total revenue
$266K
Pt VIII · Ln 12
Total expenses
$360K
Pt IX · Ln 25
Net assets
$1.8M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$94K
Where spending went · Part IX cols B–D
Program services $0.79 Management & general $0.14 Fundraising $0.07
Program efficiency
79%
of spending reaches programs
Operating runway
59.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
-35%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$266K
FY2023▼ -24%
Expenses
$360K
FY2023▲ +0.8%
Total assets
$1.8M
FY2023▲ +3%
Total liabilities
$15K
FY2023▲ +76%
Total revenue
$266K
Pt VIII · Ln 12
Total expenses
$360K
Pt IX · Ln 25
Net assets
$1.8M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$94K
Total assetsPt X · Ln 16$1.8M
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLees Friends
EINHdr · item D54-1533488
Principal addressHdr · item CNorfolk, VA
WebsiteHdr · item Jwww.leesfriends.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFApr 1990

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Di
$70,051Pt VII · Sec A
President
$0Pt VII · Sec A
Vice-Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Carol Olsen$70,051$66,716$63,538$61,688
Carol Olsen$67,050

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

1 program service account for $283K of program spending, described in the organization's own filed words · FY2023.
01

The organization provides one-on-one emotional support to cancer patients and their families; transportation to hospitals, doctors' offices, laboratories and oncology centers for individuals undergoing cancer treatment, and; financial grants to needy individuals undergoing cancer treatment.

$283Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$185K · 70%
Investment income$81K · 30%
Contributions & grants70%$185K
Investment income30%$81K
Total revenueLn 12$266K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.14 Fundraising $0.07
Program services79%$283K
Management & general14%$52K
Fundraising7%$25K
Total functional expensesLn 25$360K

Balance Sheet

Part X · end of year
CashLn 1$82K
Total assetsLn 16$1.8M
Total liabilitiesLn 26$15K
Total net assetsLn 32$1.8M
Months of cash on handcomputed2.7

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.8M · Operating expenses/yr $360K
59.1 months
Where the money goes
Program services
Program services $283K · Total expenses $360K
79%
Management & General
Management & general $52K · Total expenses $360K
14%
Fundraising
Fundraising $25K · Total expenses $360K
7%
Cost to raise $1
Fundraising expense (3-yr avg) $25K · Solicited contributions (3-yr avg) $215K
$0.11 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $185K · Total revenue $266K
70%
Government reliance
Government grants — · Total revenue $266K
Earned-income share
Program service revenue $0 · Total revenue $266K
0%
Investment reliance
Investment income $81K · Total revenue $266K
+30%
Program self-sufficiency
Program service revenue $0 · Total expenses $360K
0%
Growth & trend
Revenue growth (YoY)
This year $266K · Prior year $349K
-24%
Net-asset trend (YoY)
End of year $1.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $266K · Expenses $360K
-35%
Liabilities-to-Assets
Total liabilities — · Total assets $1.8M
Net-asset ratio
Net assets $1.8M · Total assets $1.8M
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.7M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.8M
94%
People & payroll
Highest Reported Total Compensation
Individual Carol Olsen · Reported title EXECUTIVE DI · Highest reported compensation $70K · Total expenses $360K
19%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $204K · Total expenses $360K
57%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 79%
Overhead ratio 14%
Fundraising cost ratio 14%
Revenue growth -24%
Investment management fee ratio 1%
Accounting fee ratio 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 3 funders$70K
See all 3 funders →
Grants paid · 5 grants · $377K · 2020–2024
Unitemized GrantFY2024$65,941
Unitemized GrantFY2023$90,459
Unitemized GrantFY2022$92,063
Unitemized GrantFY2021$70,117
Unitemized GrantFY2020$58,540

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$347K revenue · ⤓ 990 PDF
FY2023$266K revenue · viewing · ⤓ 990 PDF
FY2022$349K revenue · ⤓ 990 PDF
FY2021$428K revenue · ⤓ 990 PDF
FY2020$317K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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