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Limestone Area Community Foundation INC

Tax-deductible

Athens, AL501(c)(3)Since 1992Foundations & GrantmakersEIN 63-1074254Revenue $45K in FY2024

On file with the IRSlimestoneareacommunityfoundation.com419 S Marion St, 35611-2507 · Athens, ALTax-exempt since Dec 1992Publicly supported charity — 170(b)(1)(A)(vi)

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The organization uses funds to award grants to projects which benefit a broad segment of the population, serve citizens whose needs are not met by existing services, address Community issues, have potential for future support, promote volunteer involvement, and improve the quality of life in Limestone county.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Run by 27 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
1 of 3
filings with a surplus
Average deficit $10K a year · 14% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
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 · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$45K
-38% vs prior year
Spent
$132K
To programs
95%
Net assets
$700K
By yearFY2021–FY2024
Revenue
$45K
FY2024▼ -38%
Tap a bar for its year
Revenue by fiscal year
FY2021$83K
FY2022$65K
FY2022$3K
FY2024$74K
FY2024$45K
Expenses
$132K
FY2024▲ +44%
Tap a bar for its year
Expenses by fiscal year
FY2021$57K
FY2022$103K
FY2022$8K
FY2024$92K
FY2024$132K
Net assets
$700K
FY2024▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2021$755K
FY2022$717K
FY2022$713K
FY2024$645K
FY2024$700K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1992.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $126K Management & general 5% · $7K

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

22 people listed on the 990.

Part VII, Section A · reportable compensation
Dana Henry
Board 2nd Vice President
$0Pt VII · Sec A
Denver Betts
Board Vice President
$0Pt VII · Sec A
Kadaija Madden
Board Treasurer
$0Pt VII · Sec A
Kimberly Bell
Board President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Beth Patton
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Limestone Area Community 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

Helps public charities and activities that benefit Athens and Limestone County.

Questions for Limestone Area Community Foundation INC

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Provided by the organization

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1 program · $126K · in their own filed words · FY2024
01

Support other 501(c)(3) organizations within the athens and limestone county area by providing funding for specific projects, needs, etc.

$126Kprogram 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 · FY2024
Community Foundation of Greater HuntsvilleFY2024$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 4 grants · $72K · 2024–2024
Unitemized GrantFY2024$27,750
Sleep in Heavenly Peace INCID · FY2024$25,945
Auburn UniversityFY2024$11,250
John C Calhoun State Community CollegeFY2024$6,750

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$45K
Ln 12
Gifts and grantsLn 1h$34K
Investment incomeLn 3$11K
Money outPt IX
$132K
Ln 25
Programscol B$126K
Managementcol C$7K
Owns and owesPt X
$700K
net assets · Ln 32
Cash and savingsLn 1–2$38K
Total assetsLn 16$700K
LiabilitiesLn 26$0
PeoplePt VI, VII
22
listed · VII A
PaidVII A0
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$34K
Investment incomeLn 3$11K
Gains on assetsLn 7−$9K
Total revenueLn 12$45K
Assets in detailPt X, end of year
CashLn 1$25K
SavingsLn 2$13K
Cash and savings togetherLn 1–2$38K
InvestmentsLn 11–13$662K
Land, buildings, equipmentLn 10c$310
Other assetsLn 15$0
Total assetsLn 16$700K
LiabilitiesLn 26$0
Net assetsLn 32$700K
OperationsPt I, VI
EmployeesI 50
VolunteersI 627
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 FY24End FY24
Cash and savingsLn 1–2$41K$38K
InvestmentsLn 11–13$604K$662K
Land, buildings, equipmentLn 10c$310$310
Total assetsLn 16$645K$700K
LiabilitiesLn 26$0$0
Net assetsLn 32$645K$700K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$54K$54K
Accounting feesLn 11c$2K$2K
Investment management feesLn 11f$7K$7K
Other fees for servicesLn 11g$2K$0$2K$0
Office expensesLn 13$522$261$261
Information technologyLn 14$12K$10K$2K
Other expenses (24a–d)Ln 24$55K$55K$218
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$132K$126K$7K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $74K$92K−$18K$645K 990 PDF
FY2023 Not on file
FY2022 $65K$103K−$38K$717K 990 PDF
FY2021 $83K$57K$26K$755K 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 FY2024 990 (6 parts)
Part I · Summary $45,399 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $42,000$34,478
I-9 Program service revenue$0
I-10 Investment incomePrior year $31,760$10,921
I-11 Other revenue$0
I-12 Total revenuePrior year $73,760$45,399
I-13 Grants and similar amounts paid$53,695
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $92,139$78,753
I-18 Total expensesPrior year $92,139$132,448
I-19 Revenue less expensesPrior year −$18,379−$87,049
Part VI · Governance 21 of 21 board members independent, 3 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
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 $45,399 across 5 lines filed
VIII-1f All other contributions, gifts and grants$34,478
VIII-1h Total contributions, gifts and grants$34,478
VIII-3 Investment incomeExcluded from tax $20,053$20,053
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$9,132−$9,132
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $10,921$45,399
Part IX · Statement of functional expenses $132,448 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $53,695$53,695
IX-11c Accounting feesManagement $2,000$2,000
IX-11f Investment management feesPrograms $6,933$6,933
IX-11g Other fees for servicesPrograms $0 · Management $1,850 · Fundraising $0$1,850
IX-13 Office expensesPrograms $261 · Management $261$522
IX-14 Information technologyPrograms $9,600 · Management $2,400$12,000
IX-24 Other expenses (24a–d)Programs $55,230 · Management $218$55,448
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $125,719 · Management $6,729 · Fundraising $0$132,448
Part X · Balance sheet $700,288 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $12,850$24,558
X-2 Savings and temporary cash investmentsStart of year $28,366$12,999
X-10c Land, buildings and equipment, netStart of year $310$310
X-12 Other securitiesStart of year $603,828$662,421
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $645,354$700,288
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $645,354$700,288
X-32 Total net assets or fund balancesStart of year $645,354$700,288
X-33 Total liabilities and net assetsStart of year $645,354$700,288
Part XI · Reconciliation of net assets $700,288 net assets at year end
XI-1 Total revenue$45,399
XI-2 Total expenses$132,448
XI-3 Revenue less expenses−$87,049
XI-4 Net assets at start of year$645,354
XI-5 Net unrealized gains (losses) on investments$49,281
XI-9 Other changes in net assets$92,702
XI-10 Net assets at end of year$700,288

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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