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Charley Foundation INC FY2023 filing

Tax-deductible

Nashville, TN501(c)(3)Youth DevelopmentEIN 77-0601841Revenue $161K in FY2023

On file with the IRScharleyfoundation.orgPo Box 120126, 37212-0126 · Nashville, TNTax-exempt since Oct 2003Publicly supported — 509(a)(2)

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Provides support to charitable agencies addressing the critical needs of children and improve the quality of life of children in need

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
3 of 5
filings with a surplus
Average deficit $9K a year · 8% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: -0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$97K
111% of total assets
Concern: liabilities are 111% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$161K
+23% vs prior year
Spent
$156K
To programs
92%
Net assets
−$9K
By yearFY2020–FY2024
Revenue
$161K
FY2023▲ +23%
Tap a bar for its year
Revenue by fiscal year
FY2020$63K
FY2021$49K
FY2022$131K
FY2023$161K
FY2024$133K
Expenses
$156K
FY2023▲ +158%
Tap a bar for its year
Expenses by fiscal year
FY2020$71K
FY2021$179K
FY2022$61K
FY2023$156K
FY2024$113K
Net assets
−$9K
FY2023▲ +32%
Tap a bar for its year
Net assets by fiscal year
FY2020$46K
FY2021−$84K
FY2022−$14K
FY2023−$9K
FY2024$11K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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 Oct 2003.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $143K Management & general 8% · $13K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Rodney James
Treasurer
$0Pt VII · Sec A
Melissa James
Secretary
$0Pt VII · Sec A

Bridgette Tatum’s $1K as Director is at the 1st percentile of top reported officer pay among 1993 $100K–1M youth development 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 Charley 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

Supports charities helping children with critical needs and improving their lives.

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Provided by the organization

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1 program · $143K · in their own filed words · FY2023
01

Through donations, sponsorships and fundraising events, funds are distributed to qualified non-profit organizations who share the mission to improve the lives of children

$143Kprogram 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
American Online Giving Foundation INCFY2024$5K
Total grants receivedfrom 1 funder$5K
Grants paid · 29 grants · $452K · 2020–2024
St Jude Children's Research Hospital INCTN · FY2024$26,500
Our Kids CenterFY2024$20,000
Wo Smith Music SchoolFY2024$10,000
Center for Courageous KidsFY2024$10,000
Boxing Resource CenterTN · FY2024$10,000
Hearts2honduras INCTN · FY2024$7,500
Country Music Hall of Fame & MuseumFY2024$7,000
American Diabetes Association INCVA · FY2024$7,000
Individual RecipientFY2023$58,000
Semper Fi & America's FundVA · FY2023$50,000
Monroe Harding INCTN · FY2023$13,000
Folds of HonorFY2023$11,000
Boxing Resource CenterTN · FY2023$11,000
Boys and Girls Club of AmericaIN · FY2022$20,000
Individual RecipientFY2022$8,000
The Onsite FoundationFY2022$8,000
Hearts 2 HondurasFY2022$5,200
Monroe Carell Children's HospitalFY2021$40,000
See all 29 grants →

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$161K
Ln 12
Gifts and grantsLn 1h$164K
Money outPt IX
$156K
Ln 25
Programscol B$143K
Managementcol C$13K
Owns and owesPt X
−$9K
net assets · Ln 32
Cash and savingsLn 1–2−$4K
Total assetsLn 16$88K
LiabilitiesLn 26$97K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$164K
Total revenueLn 12$161K
Assets in detailPt X, end of year
CashLn 1−$4K
Cash and savings togetherLn 1–2−$4K
Other assetsLn 15$92K
Total assetsLn 16$88K
LiabilitiesLn 26$97K
Net assetsLn 32−$9K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY23End FY23
Cash and savingsLn 1–2−$11K−$4K
Total assetsLn 16$135K$88K
LiabilitiesLn 26$149K$97K
Net assetsLn 32−$14K−$9K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$143K$143K
Accounting feesLn 11c$1K$1K
Other fees for servicesLn 11g$129$129
Office expensesLn 13$2K$2K
InterestLn 20$9K$9K
Total functional expensesLn 25$156K$143K$13K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $133K$113K$20K$11K 990 PDF
FY2023 Viewing $161K$156K$4K−$9K 990 PDF
FY2022 $131K$61K$70K−$14K 990 PDF
FY2021 $49K$179K−$130K−$84K 990 PDF
FY2020 $63K$71K−$8K$46K 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 FY2023 990 (6 parts)
Part I · Summary $160,578 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $57,371$164,285
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $73,670−$3,707
I-12 Total revenuePrior year $131,041$160,578
I-13 Grants and similar amounts paidPrior year $50,450$143,300
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 $10,104$12,828
I-18 Total expensesPrior year $60,554$156,128
I-19 Revenue less expensesPrior year $70,487$4,450
Part VI · Governance 4 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $160,578 across 4 lines filed
VIII-1f All other contributions, gifts and grants$164,285
VIII-1h Total contributions, gifts and grants$164,285
VIII-8 Net income from fundraising eventsExcluded from tax −$3,707−$3,707
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$3,707$160,578
Part IX · Statement of functional expenses $156,128 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $143,300$143,300
IX-11c Accounting feesManagement $1,040$1,040
IX-11g Other fees for servicesManagement $129$129
IX-13 Office expensesManagement $2,206$2,206
IX-20 InterestManagement $9,453$9,453
IX-25 Total functional expensesPrograms $143,300 · Management $12,828 · Fundraising $0$156,128
Part X · Balance sheet $88,089 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year −$10,965−$4,005
X-15 Other assetsStart of year $145,978$92,094
X-16 Total assetsStart of year $135,013$88,089
X-17 Accounts payable and accrued expensesStart of year $45,000$72,400
X-25 Other liabilitiesStart of year $103,774$25,000
X-26 Total liabilitiesStart of year $148,774$97,400
X-32 Total net assets or fund balancesStart of year −$13,761−$9,311
X-33 Total liabilities and net assetsStart of year $135,013$88,089
Part XI · Reconciliation of net assets −$9,311 net assets at year end
XI-1 Total revenue$160,578
XI-2 Total expenses$156,128
XI-3 Revenue less expenses$4,450
XI-4 Net assets at start of year−$13,761
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$9,311

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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