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Lace Foundation FY2020 filing

Tax-deductible

Wayne, IL501(c)(3)Foundations & GrantmakersEIN 81-3846692

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.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
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
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
23 mo
of spending, in cash
Looks good: 22.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$11K
Spent
$8K
To programs
73%
Net assets
$145K
By yearFY2020–FY2025
Revenue
$11K
FY2020
Revenue by fiscal year
FY2020$11K
FY2021$18K
FY2022$9K
FY2023$37K
FY2024$42K
FY2025$19K
Expenses
$8K
FY2020
Expenses by fiscal year
FY2020$8K
FY2021$10K
FY2022$13K
FY2023$24K
FY2024$20K
FY2025$6K
Net assets
$145K
FY2020
Net assets by fiscal year
FY2020$145K
FY2021$157K
FY2022$133K
FY2023$159K
FY2024$188K
FY2025$220K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

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

73 cents of each dollar spent went to programs.

Program services 73% · $6K Management & general 27% · $2K

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

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 →

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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 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.

Provided by the organization

This section is blank until Lace Foundation claims this page.

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

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$11K
Ln 12
Gifts and grantsLn 1h$6K
Investment incomeLn 3$5K
Money outPt IX
$8K
Ln 25
Programscol B$6K
Managementcol C$2K
Owns and owesPt X
$145K
net assets · Ln 32
Cash and savingsLn 1–2$15K
Total assetsLn 16$145K
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$6K
Investment incomeLn 3$5K
Gains on assetsLn 7$2K
Total revenueLn 12$11K
Assets in detailPt X, end of year
CashLn 1$15K
Cash and savings togetherLn 1–2$15K
InvestmentsLn 11–13$130K
Total assetsLn 16$145K
LiabilitiesLn 26$0
Net assetsLn 32$145K
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 FY20End FY20
Cash and savingsLn 1–2$17K$15K
InvestmentsLn 11–13$118K$130K
Total assetsLn 16$134K$145K
LiabilitiesLn 26$0$0
Net assetsLn 32$134K$145K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$6K$6K
Legal feesLn 11b$450$450
Accounting feesLn 11c$750$750
Investment management feesLn 11f$918$918
Other fees for servicesLn 11g$51$51
Total functional expensesLn 25$8K$6K$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $19K$6K$13K$220K 990 PDF
FY2024 $42K$20K$22K$188K 990 PDF
FY2023 $37K$24K$13K$159K 990 PDF
FY2022 $9K$13K−$4K$133K 990 PDF
FY2021 $18K$10K$8K$157K 990 PDF
FY2020 Viewing $11K$8K$3K$145K 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 FY2020 990 (4 parts)
Part VIII · Statement of revenue $11,055 across 5 lines filed
VIII-1f All other contributions, gifts and grants$6,000
VIII-1h Total contributions, gifts and grants$6,000
VIII-3 Investment incomeRelated to mission $3,120$3,120
VIII-7 Net gain or loss on sales of assetsRelated to mission $1,935$1,935
VIII-12 Total revenueRelated to mission $5,055$11,055
Part IX · Statement of functional expenses $7,953 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $5,784$5,784
IX-11b Legal feesManagement $450$450
IX-11c Accounting feesManagement $750$750
IX-11f Investment management feesManagement $918$918
IX-11g Other fees for servicesManagement $51$51
IX-25 Total functional expensesPrograms $5,784 · Management $2,169 · Fundraising $0$7,953
Part X · Balance sheet $145,402 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $16,959$15,188
X-11 Publicly traded securitiesStart of year $117,503$130,214
X-16 Total assetsStart of year $134,462$145,402
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $134,462$145,402
X-32 Total net assets or fund balancesStart of year $134,462$145,402
X-33 Total liabilities and net assetsStart of year $134,462$145,402
Part XI · Reconciliation of net assets $145,402 net assets at year end
XI-1 Total revenue$11,055
XI-2 Total expenses$7,953
XI-3 Revenue less expenses$3,102
XI-4 Net assets at start of year$134,462
XI-5 Net unrealized gains (losses) on investments$7,838
XI-10 Net assets at end of year$145,402

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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