Lightning Foundation INC FY2022 filing

Tax-deductible

Tampa, FL501(c)(3)Since 1998EducationEIN 59-3542305

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The Lightning Foundation is dedicated to investing its resources and leadership for the enrichment of the people of tampa bay, focusing on meeting basic human needs and enhancing lives.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$169K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $1.3M a year · 25% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$169K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
13 mo
of spending, in cash
Looks good: 13.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $163K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$578K
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.1M
+129% vs prior year
Spent
$3.3M
To programs
73%
Net assets
$3.3M
By yearFY2021–FY2024
Revenue
$7.1M
FY2022▲ +129%
Revenue by fiscal year
FY2021$3.1M
FY2022$7.1M
FY2023$5.4M
FY2024$5.6M
FY2024$9.2M
Expenses
$3.3M
FY2022▲ +33%
Expenses by fiscal year
FY2021$2.5M
FY2022$3.3M
FY2023$5.0M
FY2024$5.1M
FY2024$8.6M
Net assets
$3.3M
FY2022▲ +675%
Net assets by fiscal year
FY2021−$571K
FY2022$3.3M
FY2023$3.7M
FY2024$4.1M
FY2024$4.8M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1999.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $2.4M Management & general 27% · $891K

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

8 people listed on the 990; $169K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Executive Director
$169,386Pt VII · Sec A
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Elizabeth Frazier’s $374K as Executive Director is at the 98th percentile of top reported officer pay among 3395 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Elizabeth Frazier$373,981$203,305$200,364$169,386—
Jassen Cullimore$195,340$148,715$117,200——
Mathieu Garon$192,057$144,984$109,111——
Sarah Costello$150,281————
Joshua Dreith$141,314————
Elizabeth Frazier————$41,537

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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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 15aYes

Programs and updates

Invests resources and leadership to advance Tampa Bay's people.

Provided by the organization

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3 program services account for $2.4M of program spending, described in the organization's own filed words · FY2021.
01

The lightning foundation is pleased to support hundreds of different non-profits and programs each year throughoutthe community that benefit those in need. A few examples are listed here:the lightning foundation purchases of charity event sponsorships and tables at dozens of non-profits each year, and also donates over 2,000 signed items…

$2.3Mprogram expense
02

Hockey Camps

Lightning made hockey is designed to give youth hockey players of all ages and skill levels the opportunity to experience, learn, and enjoy the game of hockey through a series of camps and clinics held year round.

$104Kprogram expense
03

Lightning Community Heroes

Lightning owner jeff vinik, along with his wife penny, launched the community heroes initiatives at the beginning of the 2011-12 season to distribute $10m to deserving non-profits throughout the tampa bay community.

$19Kprogram expense

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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
See all 5 funders →
Grants paid · 130 grants · $6.8M · 2020–2024
School Board of Hillsborough CountyFY2024$250,000
Pasco Education Foundation INCFL · FY2024$140,000
Pasco Sheriff's Charities INCFL · FY2024$110,000
Usf FoundationFY2024$104,600
Pinellas Community FoundationFL · FY2024$100,000
Calvary Community Clinic INCFL · FY2024$50,000
A Kids Place of Tampa BayFL · FY2024$50,000
See all 130 grants →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$7.1M
Ln 12
Gifts and grantsLn 1h$4.6M
Other incomeLn 4–11$1.7M
Fees for servicesLn 2g$837K
Money outPt IX
$3.3M
Ln 25
Programscol B$2.4M
Managementcol C$891K
Owns and owesPt X
$3.3M
net assets · Ln 32
Cash and savingsLn 1–2$3.7M
Total assetsLn 16$3.9M
LiabilitiesLn 26$578K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.6M
Fundraising eventsLn 1c$104K
Fees for servicesLn 2g$837K
Investment incomeLn 3$38
Other incomeLn 4–11$1.7M
Total revenueLn 12$7.1M
Assets in detailPt X, end of year
CashLn 1$3.7M
Cash and savings togetherLn 1–2$3.7M
Other assetsLn 15$140K
Total assetsLn 16$3.9M
LiabilitiesLn 26$578K
Net assetsLn 32$3.3M
OperationsPt I, VI
EmployeesI 593
VolunteersI 6100
Fiscal year endsHeaderJune
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 FY22End FY22
Cash and savingsLn 1–2$1.7M$3.7M
Total assetsLn 16$1.7M$3.9M
LiabilitiesLn 26$2.3M$578K
Net assetsLn 32−$571K$3.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$637K$637K
Grants and assistance to foreign recipientsLn 3$50K$50K
Pay of current officers, directors and key staffLn 5$171K$43K$128K
Other salaries and wagesLn 7$834K$210K$624K
Payroll taxesLn 10$91K$91K
Accounting feesLn 11c$32K$32K
Advertising and promotionLn 12$117K$117K
Office expensesLn 13$142$142
OccupancyLn 16$94K$94K
TravelLn 17$67K$67K
Other expenses (24a–d)Ln 24$887K$887K
All other expensesLn 24e$346K$239K$108K
Total functional expensesLn 25$3.3M$2.4M$891K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $5.6M$5.1M$481K$4.1M 990 PDF
FY2023 $5.4M$5.0M$438K$3.7M 990 PDF
FY2022 Viewing $7.1M$3.3M$3.8M$3.3M 990 PDF
FY2021 $3.1M$2.5M$611K−$571K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $7,122,611 across 8 lines filed
Lines not itemized here account for $1,212,443 of total revenue; see the IRS return.
VIII-1c Fundraising events$103,811
VIII-1d Related organizations$1,642,704
VIII-1f All other contributions, gifts and grants$2,823,774
VIII-1h Total contributions, gifts and grants$4,570,289
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $509,214$509,214
VIII-3 Investment incomeExcluded from tax $38$38
VIII-8 Net income from fundraising eventsExcluded from tax $830,627$830,627
VIII-12 Total revenueRelated to mission $836,911 · Unrelated business $884,746 · Excluded from tax $830,665$7,122,611
Part IX · Statement of functional expenses $3,327,348 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $636,959$636,959
IX-3 Grants and assistance to foreign recipientsPrograms $50,000$50,000
IX-5 Pay of current officers, directors and key staffPrograms $43,174 · Management $127,937$171,111
IX-7 Other salaries and wagesPrograms $210,439 · Management $623,596$834,035
IX-10 Payroll taxesPrograms $91,440$91,440
IX-11c Accounting feesManagement $32,100$32,100
IX-12 Advertising and promotionPrograms $117,272$117,272
IX-13 Office expensesManagement $142$142
IX-16 OccupancyPrograms $93,504$93,504
IX-17 TravelPrograms $67,311$67,311
IX-24 Other expenses (24a–d)Programs $887,237$887,237
IX-24e All other expensesPrograms $238,661 · Management $107,576$346,237
IX-25 Total functional expensesPrograms $2,435,997 · Management $891,351 · Fundraising $0$3,327,348
Part X · Balance sheet $3,863,407 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,721,435$3,692,445
X-4 Accounts receivableStart of year $13,443$16,368
X-9 Prepaid expenses and deferred chargesStart of year $8,604$14,976
X-15 Other assetsStart of year $0$139,618
X-16 Total assetsStart of year $1,743,482$3,863,407
X-17 Accounts payable and accrued expensesStart of year $234,298$492,829
X-19 Deferred revenueStart of year $57,333$85,280
X-25 Other liabilitiesStart of year $2,023,239$0
X-26 Total liabilitiesStart of year $2,314,870$578,109
X-27 Net assets without donor restrictionsStart of year −$571,388$3,254,690
X-28 Net assets with donor restrictions$30,608
X-32 Total net assets or fund balancesStart of year −$571,388$3,285,298
X-33 Total liabilities and net assetsStart of year $1,743,482$3,863,407
Part XI · Reconciliation of net assets $3,285,298 net assets at year end
XI-1 Total revenue$7,122,611
XI-2 Total expenses$3,327,348
XI-3 Revenue less expenses$3,795,263
XI-4 Net assets at start of year−$571,388
XI-9 Other changes in net assets$61,423
XI-10 Net assets at end of year$3,285,298

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

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