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Lotus Supporting Foundation INC

Tax-deductible

Miami, FL501(c)(3)HousingEIN 81-0783068

The organization was formed to secure the financial stability and long-term viability of the sundari foundation, INC.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Run by 5 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
0 of 5
filings with a surplus
Average deficit $674K a year · 372% of revenue · last 5 filings
Concern: a surplus in 0 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
2 mo
of spending, in cash
Fine: 2.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$22.6M
122% of total assets
Concern: liabilities are 122% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$182K
+2% vs prior year
Spent
$1.5M
To programs
99%
Net assets
−$4.0M
By yearFY2020–FY2024
Revenue
$182K
FY2024▲ +2%
Revenue by fiscal year
FY2020$175K
FY2021$188K
FY2022$182K
FY2023$178K
FY2024$182K
Expenses
$1.5M
FY2024▲ +18%
Expenses by fiscal year
FY2020$385K
FY2021$274K
FY2022$760K
FY2023$1.3M
FY2024$1.5M
Net assets
−$4.0M
FY2024▼ -51%
Net assets by fiscal year
FY2020−$872K
FY2021−$958K
FY2022−$1.5M
FY2023−$2.7M
FY2024−$4.0M

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 Feb 2016.

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% · $1.5M Management & general 1% · $19K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Constance Collins
President/Di
$0Pt VII · Sec A
Julie Lotspeich
Secty, Treas
$0Pt VII · Sec A
$0Pt VII · Sec A
John Sumberg
Vice Pres/Di
$0Pt VII · Sec A
$0Pt VII · Sec A
See Lotus Supporting 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 15aYes

Programs and updates

Ensures the financial stability and long-term viability of the Sundari Foundation.

Provided by the organization

This section is blank until Lotus Supporting Foundation INC claims this page.

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1 program service account for $1.5M of program spending, described in the organization's own filed words · FY2024.
01

Lotus supporting foundation, inc. Is a 501(C)(3)SUPPORTING foundation for the sundari foundation, inc. And its initiatives, including the lotus women's shelter and its redevelopment and expansion in the lotus village project as well as the planned development and the children's village at lotus village. Lotus supporting foundation, inc.

$1.5Mprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $200K · 2022–2024
Sundari Foundation INCFL · FY2024$100,000
Sundari Foundation INCFL · FY2022$100,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$182K
Ln 12
Investment incomeLn 3$182K
Other incomeLn 4–11$25
Money outPt IX
$1.5M
Ln 25
Programscol B$1.5M
Managementcol C$19K
Owns and owesPt X
−$4.0M
net assets · Ln 32
Cash and savingsLn 1–2$294K
Total assetsLn 16$18.5M
LiabilitiesLn 26$22.6M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$182K
Other incomeLn 4–11$25
Total revenueLn 12$182K
Assets in detailPt X, end of year
CashLn 1$294K
Cash and savings togetherLn 1–2$294K
InvestmentsLn 11–13$60K
Total assetsLn 16$18.5M
LiabilitiesLn 26$22.6M
Net assetsLn 32−$4.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
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 FY24End FY24
Cash and savingsLn 1–2$230K$294K
InvestmentsLn 11–13$60K$60K
Total assetsLn 16$18.5M$18.5M
LiabilitiesLn 26$21.1M$22.6M
Net assetsLn 32−$2.7M−$4.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$100K$100K
Accounting feesLn 11c$19K$19K
Office expensesLn 13$507$507
InterestLn 20$1.4M$1.4M
Other expenses (24a–d)Ln 24$61$61
Total functional expensesLn 25$1.5M$1.5M$19K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $182K$1.5M−$1.4M−$4.0M 990 PDF
FY2023 $178K$1.3M−$1.1M−$2.7M 990 PDF
FY2022 $182K$760K−$578K−$1.5M 990 PDF
FY2021 $188K$274K−$86K−$958K 990 PDF
FY2020 $175K$385K−$210K−$872K 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 (4 parts)
Part VIII · Statement of revenue $181,861 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $181,836$181,836
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $25$25
VIII-12 Total revenueRelated to mission $25 · Excluded from tax $181,836$181,861
Part IX · Statement of functional expenses $1,548,429 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $100,000$100,000
IX-11c Accounting feesManagement $18,600$18,600
IX-13 Office expensesManagement $507$507
IX-20 InterestPrograms $1,429,261$1,429,261
IX-24 Other expenses (24a–d)Management $61$61
IX-25 Total functional expensesPrograms $1,529,261 · Management $19,168 · Fundraising $0$1,548,429
Part X · Balance sheet $18,537,067 assets, 9 lines filed
Asset lines not itemized here account for $18,183,550; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $229,913$293,505
X-12 Other securitiesStart of year $60,012$60,012
X-16 Total assetsStart of year $18,473,475$18,537,067
X-17 Accounts payable and accrued expenses$900
X-25 Other liabilitiesStart of year $115,963$110,044
X-26 Total liabilitiesStart of year $21,139,448$22,569,608
X-27 Net assets without donor restrictionsStart of year −$2,665,973−$4,032,541
X-32 Total net assets or fund balancesStart of year −$2,665,973−$4,032,541
X-33 Total liabilities and net assetsStart of year $18,473,475$18,537,067
Part XI · Reconciliation of net assets −$4,032,541 net assets at year end
XI-1 Total revenue$181,861
XI-2 Total expenses$1,548,429
XI-3 Revenue less expenses−$1,366,568
XI-4 Net assets at start of year−$2,665,973
XI-10 Net assets at end of year−$4,032,541

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

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