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Accelerate Dfw Foundation INC FY2020 filing

Tax-deductible

Fort Worth, TX501(c)(3)Education EIN 75-2824925Revenue $156K in FY2020

On file with the IRSacceleratedfw.org1150 South Fwy, 76104-5064 · Fort Worth, TXTax-exempt since Nov 1999Publicly supported — 509(a)(2)

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The foundations mission is to connect dedicated entrepreneurs in the Dfw area to the resources they need to develop, launch and grow their businesses.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
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 5
filings with a surplus
Average deficit $27K a year · 18% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $11
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$24K
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$156K
Spent
$231K
To programs
99%
Net assets
$85K
By yearFY2020–FY2024
Revenue
$156K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$156K
FY2021$93K
FY2022$187K
FY2023$211K
FY2024$85K
Expenses
$231K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$231K
FY2021$104K
FY2022$188K
FY2023$208K
FY2024$134K
Net assets
$85K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$85K
FY2021$74K
FY2022$73K
FY2023$76K
FY2024$27K

From the FY2020 Form 990 (year ending September 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

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

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $228K Fundraising 1% · $3K

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

12 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Sean Arena
Board Member
$0Pt VII · Sec A
Meghan Wright
Board Member
$0Pt VII · Sec A
David Mack
Board Member
$0Pt VII · Sec A
Rob McClain
Board Member
$0Pt VII · Sec A
Alberto Rios
Vice Pres
$0Pt VII · Sec A
Justin Malone
Chairman of the Board
$0Pt VII · Sec A
Eli Mercer
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A

Jared Sloane’s $68K as CEO & Exec Dir is at the 93rd percentile of top reported officer pay among 146 <$100K 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.

See Accelerate Dfw 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

Connects local entrepreneurs to resources for business development, launch, and growth.

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Provided by the organization

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1 program · $228K · in their own filed words · FY2019
01

The foundation supports entrepreneurship by collaborating with like-minded institutions and businesses to organize events that bring people with an entrepreneurial mindset together through experiential events. The foundation also offers programs that aid entrepreneurs in building their businesses.

$228Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Amazonsmile FoundationFY2023$11
Total grants receivedfrom 1 funder$11

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$156K
Ln 12
Gifts and grantsLn 1h$156K
Money outPt IX
$231K
Ln 25
Programscol B$228K
Fundraisingcol D$3K
Owns and owesPt X
$85K
net assets · Ln 32
Cash and savingsLn 1–2$104K
Total assetsLn 16$109K
LiabilitiesLn 26$24K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$156K
Government grantsLn 1e$50K
Total revenueLn 12$156K
Assets in detailPt X, end of year
CashLn 1$104K
Cash and savings togetherLn 1–2$104K
Land, buildings, equipmentLn 10c$4K
Total assetsLn 16$109K
LiabilitiesLn 26$24K
Net assetsLn 32$85K
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderSeptember
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$161K$104K
Land, buildings, equipmentLn 10c$6K$4K
Total assetsLn 16$168K$109K
LiabilitiesLn 26$8K$24K
Net assetsLn 32$161K$85K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$82K$82K
Advertising and promotionLn 12$33K$30K$3K
Office expensesLn 13$3K$3K
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$94K$94K
All other expensesLn 24e$13K$13K
Total functional expensesLn 25$231K$228K$0$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $85K$134K−$49K$27K 990 PDF
FY2023 $211K$208K$3K$76K 990 PDF
FY2022 $187K$188K−$823$73K 990 PDF
FY2021 $93K$104K−$12K$74K 990 PDF
FY2020 Viewing $156K$231K−$75K$85K 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 $156,012 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $437,256$156,012
I-9 Program service revenue$0
I-10 Investment incomePrior year $33$0
I-11 Other revenue$0
I-12 Total revenuePrior year $437,289$156,012
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $151,035$81,997
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $336,448$149,092
I-18 Total expensesPrior year $487,483$231,089
I-19 Revenue less expensesPrior year −$50,194−$75,077
Part VI · Governance 12 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
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 $156,012 across 4 lines filed
VIII-1e Government grants$50,000
VIII-1f All other contributions, gifts and grants$106,012
VIII-1h Total contributions, gifts and grants$156,012
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$156,012
Part IX · Statement of functional expenses $231,089 across 7 lines filed
IX-7 Other salaries and wagesPrograms $81,997$81,997
IX-12 Advertising and promotionPrograms $30,333 · Fundraising $3,076$33,409
IX-13 Office expensesPrograms $2,836$2,836
IX-22 Depreciation, depletion and amortizationPrograms $2,024$2,024
IX-23 InsurancePrograms $3,096$3,096
IX-24 Other expenses (24a–d)Programs $94,373$94,373
IX-24e All other expensesPrograms $13,354$13,354
IX-25 Total functional expensesPrograms $228,013 · Management $0 · Fundraising $3,076$231,089
Part X · Balance sheet $109,367 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $160,749$103,857
X-9 Prepaid expenses and deferred chargesStart of year $1,715$1,715
X-10c Land, buildings and equipment, netStart of year $5,819$3,795
X-16 Total assetsStart of year $168,283$109,367
X-17 Accounts payable and accrued expensesStart of year $7,771$8,332
X-24 Unsecured notes and loans payable$15,600
X-26 Total liabilitiesStart of year $7,771$23,932
X-27 Net assets without donor restrictionsStart of year $160,512$85,435
X-32 Total net assets or fund balancesStart of year $160,512$85,435
X-33 Total liabilities and net assetsStart of year $168,283$109,367
Part XI · Reconciliation of net assets $85,435 net assets at year end
XI-1 Total revenue$156,012
XI-2 Total expenses$231,089
XI-3 Revenue less expenses−$75,077
XI-4 Net assets at start of year$160,512
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$85,435

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

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