Lf Summits INC: FY2022 Nonprofit Profile & Form 990 (EIN 81-0852571)

Revenue by fiscal year
FY2020	$373K
FY2021	$468K
FY2022	$596K
FY2023	$0
FY2024	$0

Expenses by fiscal year
FY2020	$343K
FY2021	$240K
FY2022	$916K
FY2023	$0
FY2024	$0

Net assets by fiscal year
FY2020	$1.1M
FY2021	$1.4M
FY2022	$1.1M
FY2023	$1.1M
FY2024	$1.1M

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.

99%

Program services 99% · $911K Management & general 1% · $5K

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

1 person listed on the 990.

Part VII, Section A · reportable compensation

James Zemlin

Executive Director

$0Pt VII · Sec A

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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

Organizes a conference focused on open source networking software.

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Provided by the organization

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1 program · $911K · in their own filed words · FY2022

01

The organization held its annual open networking summit conference.

$911Kprogram expense

By the numbers

The FY2022 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$596K

Ln 12

Fees for servicesLn 2g$596K

Money outPt IX

$916K

Ln 25

Programscol B$911K

Managementcol C$5K

Owns and owesPt X

$1.1M

net assets · Ln 32

Total assetsLn 16$1.1M

LiabilitiesLn 26$0

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a1

IndependentVI 1b1

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$596K

Total revenueLn 12$596K

Assets in detailPt X, end of year

Total assetsLn 16$1.1M

LiabilitiesLn 26$0

Net assetsLn 32$1.1M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Total assetsLn 16	$1.4M	$1.1M
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$1.4M	$1.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Legal feesLn 11b	$2K		$2K
Accounting feesLn 11c	$3K		$3K
TravelLn 17	$8K	$8K
Conferences, conventions and meetingsLn 19	$902K	$902K
All other expensesLn 24e	$607		$607
Total functional expensesLn 25	$916K	$911K	$5K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$0	$0	$0	$1.1M	990 PDF
FY2023	$0	$0	$0	$1.1M	990 PDF
FY2022 Viewing	$596K	$916K	−$320K	$1.1M	990 PDF
FY2021	$468K	$240K	$228K	$1.4M	990 PDF
FY2020	$373K	$343K	$30K	$1.1M	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 FY2022 990 (6 parts)

Part I · Summary $595,703 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $468,361$595,703

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $468,361$595,703

I-13 Grants and similar amounts paidPrior year $0$0

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 $240,448$915,839

I-18 Total expensesPrior year $240,448$915,839

I-19 Revenue less expensesPrior year $227,913−$320,136

Part VI · Governance 1 of 1 board members independent, 4 to look at

VI-1a Voting members of the governing body1

VI-1b Independent voting members1

VI-12a Written conflict of interest policyNo

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

Part VIII · Statement of revenue $595,703 across 2 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $595,703$595,703

VIII-12 Total revenueRelated to mission $595,703 · Unrelated business $0 · Excluded from tax $0$595,703

Part IX · Statement of functional expenses $915,839 across 5 lines filed

IX-11b Legal feesManagement $1,925$1,925

IX-11c Accounting feesManagement $2,650$2,650

IX-17 TravelPrograms $8,408$8,408

IX-19 Conferences, conventions and meetingsPrograms $902,249$902,249

IX-24e All other expensesManagement $607$607

IX-25 Total functional expensesPrograms $910,657 · Management $5,182 · Fundraising $0$915,839

Part X · Balance sheet $1,051,584 assets, 6 lines filed

X-4 Accounts receivableStart of year $1,371,720$1,051,584

X-16 Total assetsStart of year $1,371,720$1,051,584

X-26 Total liabilitiesStart of year $0$0

X-27 Net assets without donor restrictionsStart of year $1,371,720$1,051,584

X-32 Total net assets or fund balancesStart of year $1,371,720$1,051,584

X-33 Total liabilities and net assetsStart of year $1,371,720$1,051,584

Part XI · Reconciliation of net assets $1,051,584 net assets at year end

XI-1 Total revenue$595,703

XI-2 Total expenses$915,839

XI-3 Revenue less expenses−$320,136

XI-4 Net assets at start of year$1,371,720

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$1,051,584

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Lf Summits INC FY2022 filing

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