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Lace Foundation

Tax-deductible

Wayne, IL501(c)(3)Foundations & Grantmakers EIN 81-3846692Revenue $19K in FY2025Latest return filed Feb 16, 2026

On file with the IRSthelacefoundation.orgWayne, ILTax-exempt since Nov 2016Publicly supported charity — 170(b)(1)(A)(vi)

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To operate as an irs 501(c)(3) not-for-profit charitable organization identifying and supporting other I.r.s. 501(c)(3) not-for-profit organiations thet provide programs to alleviate suffering and poverty by taking aim at its root cause, to educate young people in careers, and to respond to specific community needs.

Form 990 Part I, line 1, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 81-3846692) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
55¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $9K a year · 41% of revenue · last 6 filings
A surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
55%
of spending
55% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
60.4 mo
of spending, in cash
Plus $189K in investments, Pt X · Ln 11–13
60.4 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Liabilities are 0% of assets.
Pt X · Ln 26
Independent board members
4
of 4 voting members
4 of 4 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$19K
-54% vs prior year
Spent
$6K
To programs
55%
Net assets
$220K
By yearFY2020–FY2025
Revenue
$19K
FY2025▼ -54%
Tap a bar for its year
Revenue by fiscal year
FY2020$11K
FY2021$18K
FY2022$9K
FY2023$37K
FY2024$42K
FY2025$19K
Expenses
$6K
FY2025▼ -69%
Tap a bar for its year
Expenses by fiscal year
FY2020$8K
FY2021$10K
FY2022$13K
FY2023$24K
FY2024$20K
FY2025$6K
Net assets
$220K
FY2025▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020$145K
FY2021$157K
FY2022$133K
FY2023$159K
FY2024$188K
FY2025$220K

From the FY2025 Form 990 · see the original

Give Follow Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2016.

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

Where the money goes

55 cents of each dollar spent went to programs.

Program services 55% · $3K Management & general 45% · $3K

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

Something off? Claim to add context

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Bonnie Lace
Vice Preside
$0Pt VII · Sec A
Daniel Lace
President
$0Pt VII · Sec A
John Lace
Treasurer
$0Pt VII · Sec A
Mary Lace
Secretary
$0Pt VII · Sec A
See Lace Foundation executive salaries →

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 fighting poverty, educating youth, and meeting community needs.

Questions for Lace Foundation

Tap to ask. Lace Foundation sees how many people are interested.

Your first name shows with your question. Lace Foundation answers here, for everyone.

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 · $23K · 2023–2024
Compassion International IncorporatedCO · FY2024$13,164
Compassion International IncorporatedCO · FY2023$9,650

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$19K
Ln 12
Gifts and grantsLn 1h$10K
Investment incomeLn 3$5K
Other incomeLn 4–11$4K
Money outPt IX
$6K
Ln 25
Programscol B$3K
Managementcol C$3K
Owns and owesPt X
$220K
net assets · Ln 32
Cash and savingsLn 1–2$31K
Total assetsLn 16$220K
LiabilitiesLn 26$0
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$10K
Investment incomeLn 3$5K
Other incomeLn 4–11$4K
Gains on assetsLn 7$4K
Total revenueLn 12$19K
Assets in detailPt X, end of year
CashLn 1$31K
Cash and savings togetherLn 1–2$31K
InvestmentsLn 11–13$189K
Total assetsLn 16$220K
LiabilitiesLn 26$0
Net assetsLn 32$220K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
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 FY25End FY25
Cash and savingsLn 1–2$17K$31K
InvestmentsLn 11–13$172K$189K
Total assetsLn 16$188K$220K
LiabilitiesLn 26$0$0
Net assetsLn 32$188K$220K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$3K$3K
Legal feesLn 11b$450$450
Accounting feesLn 11c$905$905
Investment management feesLn 11f$1K$1K
Other fees for servicesLn 11g$85$85
Total functional expensesLn 25$6K$3K$3K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Feb 16, 2026 $19K$6K$13K$220K 990 PDF
FY2024Filed with the IRS Mar 20, 2025 $42K$20K$22K$188K 990 PDF
FY2023Filed with the IRS Mar 28, 2024 $37K$24K$13K$159K 990 PDF
FY2022Filed with the IRS Mar 6, 2023 $9K$13K−$4K$133K 990 PDF
FY2021Filed with the IRS Apr 25, 2022 $18K$10K$8K$157K 990 PDF
FY2020Filed with the IRS Apr 19, 2021 $11K$8K$3K$145K 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2025 990
Part I · Summary $19,340 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $37,597$10,000
I-9 Program service revenue$0
I-10 Investment incomePrior year $4,544$9,340
I-11 Other revenue$0
I-12 Total revenuePrior year $42,141$19,340
I-13 Grants and similar amounts paidPrior year $17,498$3,399
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,564$2,812
I-18 Total expensesPrior year $20,062$6,211
I-19 Revenue less expensesPrior year $22,079$13,129
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 $19,340 across 5 lines filed
VIII-1f All other contributions, gifts and grants$10,000
VIII-1h Total contributions, gifts and grants$10,000
VIII-3 Investment incomeRelated to mission $5,344$5,344
VIII-7 Net gain or loss on sales of assetsRelated to mission $3,996$3,996
VIII-12 Total revenueRelated to mission $9,340$19,340
Part IX · Statement of functional expenses $6,211 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $3,399$3,399
IX-11b Legal feesManagement $450$450
IX-11c Accounting feesManagement $905$905
IX-11f Investment management feesManagement $1,372$1,372
IX-11g Other fees for servicesManagement $85$85
IX-25 Total functional expensesPrograms $3,399 · Management $2,812 · Fundraising $0$6,211
Part X · Balance sheet $220,440 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $16,904$31,277
X-11 Publicly traded securitiesStart of year $171,568$189,163
X-16 Total assetsStart of year $188,472$220,440
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $188,472$220,440
X-32 Total net assets or fund balancesStart of year $188,472$220,440
X-33 Total liabilities and net assetsStart of year $188,472$220,440
Part XI · Reconciliation of net assets $220,440 net assets at year end
XI-1 Total revenue$19,340
XI-2 Total expenses$6,211
XI-3 Revenue less expenses$13,129
XI-4 Net assets at start of year$188,472
XI-5 Net unrealized gains (losses) on investments$18,839
XI-10 Net assets at end of year$220,440

Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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