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Canvas Foundation

Tax-deductible

Lone Tree, CO501(c)(3)Foundations & Grantmakers EIN 81-1755475Revenue $260K in FY2024

On file with the IRS9990 Park Meadows Dr, 80124-6739 · Lone Tree, COTax-exempt since Mar 2016Publicly supported — 509(a)(2)

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Canvas foundation's mission is to share our hearts with our communities through a focus on schools, families, military, and first responders. Our goal is to support and nurture these critical areas in order to make a lasting footprint in our communities. The Foundation will offer scholarships to students to help them further their education and community grants to local schools and non-profit organizations who have demonstrated character, leadership and ethical values. The Foundation will also provide other charitable activities and programs that reflect the interests of the communities we serve. These funds are intended to create long-term relationships between Canvas Foundation and the recipients, who we hope will continue to help US continue to promote our focus on schools, families, military, and first responders in our surrounding communities.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Run by 7 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
4 of 4
filings with a surplus
Average surplus $41K a year · 16% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
23 mo
of spending, in cash
Looks good: 22.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $106K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$260K
+15% vs prior year
Spent
$220K
To programs
96%
Net assets
$417K
By yearFY2020–FY2024
Revenue
$260K
FY2024▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2020$139K
FY2021$229K
FY2022$297K
FY2023$226K
FY2024$260K
Expenses
$220K
FY2024▲ +16%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$177K
FY2022$260K
FY2023$189K
FY2024$220K
Net assets
$417K
FY2024▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$251K
FY2021$303K
FY2022$340K
FY2023$377K
FY2024$417K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2016.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $212K Management & general 4% · $8K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Steve Ferrero
Vice Chairman
$0Pt VII · Sec A
Ben Greiving
Secretary
$0Pt VII · Sec A
Colleen Knoll
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Ben Metzger
Director
$0Pt VII · Sec A
Laura Black
Director
$0Pt VII · Sec A
See Canvas Foundation 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

Supports schools, families, military, and first responders with scholarships and community grants.

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Provided by the organization

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2 programs · $212K · in their own filed words · FY2024
01

Donations to support our pillars of schools, family, military and first responders.

$158Kprogram expense
02

Scholarhips to support higher education for students

$54Kprogram 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
Public Service Credit UnionFY2024$105K
Otter Cares FoundationFY2024$500
Xcel Energy FoundationFY2024$150
Total grants receivedfrom 3 funders$106K
See all 3 funders →
Grants paid · 21 grants · $733K · 2021–2024
Unitemized GrantFY2024$53,500
Children's Hospital Colorado FoundationCO · FY2024$50,000
Special Olympics ColoradoCO · FY2024$25,000
Colorado Veterans ProjectCO · FY2024$10,000
Colorado State University-Pueblo FoundationCO · FY2024$6,473
Unitemized GrantFY2023$55,000
Children's Hospital Colorado FoundationCO · FY2023$50,155
Special Olympics ColoradoCO · FY2023$50,000
Colorado Veterans ProjectCO · FY2023$10,000
American National Red Cross & Its Constituent Chapters and BranchesDC · FY2022$100,000
Special Olympics ColoradoCO · FY2022$57,000
Unitemized GrantFY2022$46,500
Children's Hospital Colorado FoundationCO · FY2022$31,912
Its a Calling FoundationCO · FY2022$10,000
Unitemized GrantFY2021$44,500
Children's Hospital Colorado FoundationCO · FY2021$40,000
Aurora Public Schools FoundationCO · FY2021$37,500
Colorado Veterans ProjectCO · FY2021$20,000
See all 21 grants →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$260K
Ln 12
Gifts and grantsLn 1h$295K
Investment incomeLn 3$433
Money outPt IX
$220K
Ln 25
Programscol B$212K
Managementcol C$8K
Owns and owesPt X
$417K
net assets · Ln 32
Cash and savingsLn 1–2$417K
Total assetsLn 16$417K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$295K
Fundraising eventsLn 1c$122K
Investment incomeLn 3$433
Total revenueLn 12$260K
Assets in detailPt X, end of year
CashLn 1$417K
Cash and savings togetherLn 1–2$417K
Total assetsLn 16$417K
LiabilitiesLn 26$0
Net assetsLn 32$417K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
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
LineStart FY24End FY24
Cash and savingsLn 1–2$393K$417K
Total assetsLn 16$393K$417K
LiabilitiesLn 26$16K$0
Net assetsLn 32$377K$417K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$158K$158K
Grants to domestic individualsLn 2$54K$54K
Other expenses (24a–d)Ln 24$8K$8K
Total functional expensesLn 25$220K$212K$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $260K$220K$40K$417K 990 PDF
FY2023 $226K$189K$37K$377K 990 PDF
FY2022 $297K$260K$37K$340K 990 PDF
FY2021 $229K$177K$52K$303K 990 PDF
FY2020 $139K$251K 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 FY2024 990 (6 parts)
Part I · Summary $260,044 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $183,283$294,977
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $392$433
I-11 Other revenuePrior year $42,767−$35,366
I-12 Total revenuePrior year $226,442$260,044
I-13 Grants and similar amounts paidPrior year $189,155$211,973
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 $0$8,370
I-18 Total expensesPrior year $189,155$220,343
I-19 Revenue less expensesPrior year $37,287$39,701
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $260,044 across 7 lines filed
VIII-1c Fundraising events$121,551
VIII-1d Related organizations$105,202
VIII-1f All other contributions, gifts and grants$68,224
VIII-1h Total contributions, gifts and grants$294,977
VIII-3 Investment incomeExcluded from tax $433$433
VIII-8 Net income from fundraising eventsExcluded from tax −$35,366−$35,366
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$34,933$260,044
Part IX · Statement of functional expenses $220,343 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $158,473$158,473
IX-2 Grants to domestic individualsPrograms $53,500$53,500
IX-24 Other expenses (24a–d)Management $8,370$8,370
IX-25 Total functional expensesPrograms $211,973 · Management $8,370 · Fundraising $0$220,343
Part X · Balance sheet $416,520 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $393,183$416,520
X-16 Total assetsStart of year $393,183$416,520
X-26 Total liabilitiesStart of year $16,364$0
X-32 Total net assets or fund balancesStart of year $376,819$416,520
X-33 Total liabilities and net assetsStart of year $393,183$416,520
Part XI · Reconciliation of net assets $416,520 net assets at year end
XI-1 Total revenue$260,044
XI-2 Total expenses$220,343
XI-3 Revenue less expenses$39,701
XI-4 Net assets at start of year$376,819
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$416,520

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

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