Foundation for Lovejoy Schools

Tax-deductible

Allen, TX501(c)(3)EducationEIN 81-0625033Revenue $820K in FY2024

On file with the IRSfoundationforlovejoyschools.org259 Country Club Rd, 75002-7643 · Allen, TXTax-exempt since Jun 2004Publicly supported charity — 170(b)(1)(A)(vi)

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Charitable and educational benefits to Lovejoy isd

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Run by 75 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
3 of 4
filings with a surplus
Average surplus $33K a year · 4% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 11.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
12
named funders · $162K
Looks good: 12 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$595K
47% of total assets
Looks good: liabilities are 47% 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
$820K
-3% vs prior year
Spent
$821K
To programs
82%
Net assets
$665K
By yearFY2020–FY2024
Revenue
$820K
FY2024▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2020$677K
FY2022$996K
FY2023$845K
FY2024$820K
Expenses
$821K
FY2024+0.3%
Tap a bar for its year
Expenses by fiscal year
FY2020$651K
FY2022$916K
FY2023$819K
FY2024$821K
Net assets
$665K
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$505K
FY2022$598K
FY2023$638K
FY2024$665K

From the FY2024 Form 990 (year ending June 2024) · 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 Jun 2004.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $675K Management & general 4% · $36K Fundraising 13% · $110K

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

21 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Foundation for Lovejoy Schools 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

Provides charitable and educational benefits to Lovejoy ISD students and schools.

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Provided by the organization

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1 program · $675K · in their own filed words · FY2023
01

Provided teacher and classroom grants to further professional education of teachers serving lovejoy isd schools, which educate approximately 4,000 elementary, junior and high school students.

$675Kprogram 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
See all 12 funders →
Grants paid · 4 grants · $2.7M · 2019–2023
Lovejoy IsdFY2023$675,310
Lovejoy IsdFY2022$675,149
Lovejoy IsdFY2021$784,343
Lovejoy IsdFY2019$537,164

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$820K
Ln 12
Other incomeLn 4–11$469K
Gifts and grantsLn 1h$302K
Investment incomeLn 3$49K
Money outPt IX
$821K
Ln 25
Programscol B$675K
Managementcol C$36K
Fundraisingcol D$110K
Owns and owesPt X
$665K
net assets · Ln 32
Cash and savingsLn 1–2$809K
Total assetsLn 16$1.3M
LiabilitiesLn 26$595K
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$302K
Investment incomeLn 3$49K
Other incomeLn 4–11$469K
Gains on assetsLn 7$0
Total revenueLn 12$820K
Assets in detailPt X, end of year
CashLn 1$809K
SavingsLn 2$0
Cash and savings togetherLn 1–2$809K
InvestmentsLn 11–13$447K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$1.3M
LiabilitiesLn 26$595K
Net assetsLn 32$665K
OperationsPt I, VI
EmployeesI 50
VolunteersI 675
Fiscal year endsHeaderJune
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 FY24End FY24
Cash and savingsLn 1–2$827K$809K
InvestmentsLn 11–13$391K$447K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$1.2M$1.3M
LiabilitiesLn 26$582K$595K
Net assetsLn 32$638K$665K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$675K$675K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$120K$21K$99K
Legal feesLn 11b$0
Accounting feesLn 11c$6K$6K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$5K$5K
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$12K$2K$11K
All other expensesLn 24e$67$67
Total functional expensesLn 25$821K$675K$36K$110K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $820K$821K−$949$665K 990 PDF
FY2023 $845K$819K$26K$638K 990 PDF
FY2022 $996K$916K$80K$598K 990 PDF
FY2021 Not on file
FY2020 $677K$651K$26K$505K 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 $820,043 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $364,064$301,742
I-9 Program service revenue$0
I-10 Investment incomePrior year $20,893$49,409
I-11 Other revenuePrior year $460,110$468,892
I-12 Total revenuePrior year $845,067$820,043
I-13 Grants and similar amounts paidPrior year $675,149$675,310
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $143,559$145,682
I-18 Total expensesPrior year $818,708$820,992
I-19 Revenue less expensesPrior year $26,359−$949
Part VI · Governance 21 of 21 board members independent, 1 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
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 $820,043 across 8 lines filed
VIII-1f All other contributions, gifts and grants$301,742
VIII-1h Total contributions, gifts and grants$301,742
VIII-3 Investment incomeExcluded from tax $49,409$49,409
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$468,892
VIII-12 Total revenueExcluded from tax $49,409$820,043
Part IX · Statement of functional expenses $820,992 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $675,310$675,310
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management feesManagement $21,144 · Fundraising $98,987$120,131
IX-11b Legal fees$0
IX-11c Accounting feesManagement $6,500$6,500
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technologyManagement $4,836$4,836
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsuranceManagement $1,750$1,750
IX-24 Other expenses (24a–d)Management $1,775 · Fundraising $10,623$12,398
IX-24e All other expensesManagement $67$67
IX-25 Total functional expensesPrograms $675,310 · Management $36,072 · Fundraising $109,610$820,992
Part X · Balance sheet $1,259,900 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $827,273$808,866
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $1,514$4,172
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $391,264$446,862
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $1,220,051$1,259,900
X-17 Accounts payable and accrued expensesStart of year $834$1,854
X-18 Grants payableStart of year $565,796$593,443
X-26 Total liabilitiesStart of year $582,135$595,297
X-27 Net assets without donor restrictionsStart of year $573,005$595,474
X-28 Net assets with donor restrictionsStart of year $64,911$69,129
X-32 Total net assets or fund balancesStart of year $637,916$664,603
X-33 Total liabilities and net assetsStart of year $1,220,051$1,259,900
Part XI · Reconciliation of net assets $664,603 net assets at year end
XI-1 Total revenue$820,043
XI-2 Total expenses$820,992
XI-3 Revenue less expenses−$949
XI-4 Net assets at start of year$637,916
XI-5 Net unrealized gains (losses) on investments$27,636
XI-10 Net assets at end of year$664,603

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

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