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Faholo Foundation INC FY2020 filing

Tax-deductible

Baltimore, MD501(c)(3)Since 1998Foundations & Grantmakers EIN 62-6041423Revenue $139K in FY2020

On file with the IRS11 East Mount Royal Ave 2nd Floor, 21202-5513 · Baltimore, MDTax-exempt since Jun 1959Supporting organization — 509(a)(3)

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The primary mission and exempt purpose of the Faholo Foundation, INC. Is to support the charitable purpose of the baltimore community Foundation, INC. Through the distribution of grants to non-profit organizations.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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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 deficit $58K a year · 70% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Plus $1.1M in investments, Pt X · Ln 11–13
Looks good: 4.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1K
0.1% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 3 voting members
Worth a look: 1 of 3 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$139K
Spent
$133K
To programs
94%
Net assets
$1.1M
By yearFY2020–FY2025
Revenue
$139K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$139K
FY2021$71K
FY2022$139K
FY2023$30K
FY2024$78K
FY2025$42K
Expenses
$133K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$133K
FY2021$208K
FY2022$132K
FY2023$137K
FY2024$177K
FY2025$59K
Net assets
$1.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2021$1.0M
FY2022$716K
FY2023$681K
FY2024$545K
FY2025$556K

From the FY2020 Form 990 · 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 Jun 1959.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $125K Management & general 6% · $8K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Faholo 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Distributes grants to support Baltimore community non-profits.

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Provided by the organization

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1 program · $125K · in their own filed words · FY2020
01

To carry out the purpose of the baltimore community foundation, inc. By receiving and administering funds, performing planning and other functions, and otherwise providing assistance.

$125Kprogram 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 · FY2023
Baltimore Community Foundation INCFY2023$6K
Total grants receivedfrom 1 funder$6K
Grants paid · 6 grants · $800K · 2020–2025
Baltimore Community Foundation INCMD · FY2025$50,000
Baltimore Community Foundation INCMD · FY2024$170,000
Baltimore Community Foundation INCMD · FY2023$130,000
Baltimore Community Foundation INCMD · FY2022$125,000
Baltimore Community Foundation INCMD · FY2021$200,000
Baltimore Community Foundation INCMD · FY2020$125,000

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$139K
Ln 12
Investment incomeLn 3$139K
Money outPt IX
$133K
Ln 25
Programscol B$125K
Managementcol C$8K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$46K
Total assetsLn 16$1.1M
LiabilitiesLn 26$1K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$139K
Gains on assetsLn 7$75K
Total revenueLn 12$139K
Assets in detailPt X, end of year
CashLn 1$688
SavingsLn 2$45K
Cash and savings togetherLn 1–2$46K
InvestmentsLn 11–13$1.1M
Total assetsLn 16$1.1M
LiabilitiesLn 26$1K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 61
Fiscal year endsHeaderDecember
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 FY20End FY20
Cash and savingsLn 1–2$50K$46K
InvestmentsLn 11–13$837K$1.1M
Total assetsLn 16$886K$1.1M
LiabilitiesLn 26$1K$1K
Net assetsLn 32$885K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$125K$125K
Accounting feesLn 11c$3K$3K
Other expenses (24a–d)Ln 24$5K$5K
Total functional expensesLn 25$133K$125K$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $42K$59K−$17K$556K 990 PDF
FY2024 $78K$177K−$99K$545K 990 PDF
FY2023 $30K$137K−$107K$681K 990 PDF
FY2022 $139K$132K$7K$716K 990 PDF
FY2021 $71K$208K−$137K$1.0M 990 PDF
FY2020 Viewing $139K$133K$5K$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 $138,607 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $45,023$138,607
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $45,023$138,607
I-13 Grants and similar amounts paidPrior year $55,000$125,000
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 $7,151$8,184
I-18 Total expensesPrior year $62,151$133,184
I-19 Revenue less expensesPrior year −$17,128$5,423
Part VI · Governance 1 of 3 board members independent, 2 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members1
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 $138,607 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $63,841$63,841
VIII-7 Net gain or loss on sales of assetsExcluded from tax $74,766$74,766
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $138,607$138,607
Part IX · Statement of functional expenses $133,184 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $125,000$125,000
IX-11c Accounting feesManagement $2,835$2,835
IX-24 Other expenses (24a–d)Management $5,349$5,349
IX-25 Total functional expensesPrograms $125,000 · Management $8,184 · Fundraising $0$133,184
Part X · Balance sheet $1,100,476 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $8,664$688
X-2 Savings and temporary cash investmentsStart of year $40,836$45,123
X-11 Publicly traded securitiesStart of year $559,450$442,797
X-12 Other securitiesStart of year $277,092$611,868
X-16 Total assetsStart of year $886,042$1,100,476
X-17 Accounts payable and accrued expensesStart of year $1,108$1,316
X-26 Total liabilitiesStart of year $1,108$1,316
X-27 Net assets without donor restrictionsStart of year $884,934$1,099,160
X-32 Total net assets or fund balancesStart of year $884,934$1,099,160
X-33 Total liabilities and net assetsStart of year $886,042$1,100,476
Part XI · Reconciliation of net assets $1,099,160 net assets at year end
XI-1 Total revenue$138,607
XI-2 Total expenses$133,184
XI-3 Revenue less expenses$5,423
XI-4 Net assets at start of year$884,934
XI-5 Net unrealized gains (losses) on investments$208,803
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,099,160

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

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