Cincinnati Cyclones Foundation FY2023 filing

Tax-deductible

Cincinnati, OH501(c)(3)Since 2017Youth DevelopmentEIN 81-4716430

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To promote physical health, teamwork, education and life skills for children and youth, primarily in the greater Cincinnati community.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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 5
filings with a surplus
Average surplus $44K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
23 mo
of spending, in cash
Looks good: 23.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$85K
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$686K
+6% vs prior year
Spent
$473K
To programs
100%
Net assets
$829K
By yearFY2020–FY2024
Revenue
$686K
FY2023▲ +6%
Revenue by fiscal year
FY2020$120K
FY2021$325K
FY2022$645K
FY2023$686K
FY2024$624K
FY2024$2.0M
Expenses
$473K
FY2023▲ +7%
Expenses by fiscal year
FY2020$61K
FY2021$190K
FY2022$442K
FY2023$473K
FY2024$1.0M
FY2024$2.5M
Net assets
$829K
FY2023▲ +34%
Net assets by fiscal year
FY2020$279K
FY2021$414K
FY2022$617K
FY2023$829K
FY2024$443K
FY2024$27K

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2017.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $472K Management & general 0% · $1K

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

Something off? The org can add a note here. Request edit privileges.

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President & Director
$0Pt VII · Sec A
Treasurer & Director
$0Pt VII · Sec A
Secretary & Director
$0Pt VII · Sec A

Frank Banham’s $76K as President is at the 10th percentile of top reported officer pay among 1552 $1–10M youth development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Cincinnati Cyclones 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

Empowers children and youth with health, teamwork, education, and life skills.

Provided by the organization

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1 program · $472K · in their own filed words · FY2022
01

Provide hockey equipment, instruction and training, and donated ice rink time to and for the benefit of children.

$472Kprogram 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
Total grants receivedfrom 1 funder$15K
Grants paid · 3 grants · $41K · 2023–2024
Unitemized GrantFY2024$24,102
Unitemized GrantFY2023$9,512

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$686K
Ln 12
Gifts and grantsLn 1h$375K
Other incomeLn 4–11$204K
Fees for servicesLn 2g$107K
Money outPt IX
$473K
Ln 25
Programscol B$472K
Managementcol C$1K
Owns and owesPt X
$829K
net assets · Ln 32
Cash and savingsLn 1–2$914K
Total assetsLn 16$914K
LiabilitiesLn 26$85K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$375K
Fees for servicesLn 2g$107K
Other incomeLn 4–11$204K
Total revenueLn 12$686K
Assets in detailPt X, end of year
CashLn 1$914K
Cash and savings togetherLn 1–2$914K
Other assetsLn 15$260
Total assetsLn 16$914K
LiabilitiesLn 26$85K
Net assetsLn 32$829K
OperationsPt I, VI
EmployeesI 50
VolunteersI 680
Fiscal year endsHeaderJune
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 FY23End FY23
Cash and savingsLn 1–2$623K$914K
Total assetsLn 16$624K$914K
LiabilitiesLn 26$7K$85K
Net assetsLn 32$617K$829K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$13K$13K
Other salaries and wagesLn 7$24K$24K
Legal feesLn 11b$2K$2K$400
Office expensesLn 13$3K$2K$555
InsuranceLn 23$2K$1K$364
Other expenses (24a–d)Ln 24$430K$430K$38
Total functional expensesLn 25$473K$472K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $624K$1.0M−$386K$443K 990 PDF
FY2023 Viewing $686K$473K$213K$829K 990 PDF
FY2022 $645K$442K$203K$617K 990 PDF
FY2021 $325K$190K$135K$414K 990 PDF
FY2020 $120K$61K$58K$279K 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $685,951 across 5 lines filed
Lines not itemized here account for $666 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$374,879
VIII-1h Total contributions, gifts and grants$374,879
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $107,038$107,038
VIII-8 Net income from fundraising eventsExcluded from tax $203,368$203,368
VIII-12 Total revenueRelated to mission $107,038 · Unrelated business $0 · Excluded from tax $204,034$685,951
Part IX · Statement of functional expenses $473,249 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $12,707$12,707
IX-7 Other salaries and wagesPrograms $24,172$24,172
IX-11b Legal feesPrograms $1,600 · Management $400$2,000
IX-13 Office expensesPrograms $2,220 · Management $555$2,775
IX-23 InsurancePrograms $1,454 · Management $364$1,818
IX-24 Other expenses (24a–d)Programs $429,739 · Management $38$429,777
IX-25 Total functional expensesPrograms $471,892 · Management $1,357 · Fundraising $0$473,249
Part X · Balance sheet $913,814 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $623,386$913,554
X-15 Other assetsStart of year $260$260
X-16 Total assetsStart of year $623,646$913,814
X-17 Accounts payable and accrued expensesStart of year $5,031$15,387
X-25 Other liabilitiesStart of year $2,080$69,190
X-26 Total liabilitiesStart of year $7,111$84,577
X-27 Net assets without donor restrictionsStart of year $616,535$829,237
X-32 Total net assets or fund balancesStart of year $616,535$829,237
X-33 Total liabilities and net assetsStart of year $623,646$913,814
Part XI · Reconciliation of net assets $829,237 net assets at year end
XI-1 Total revenue$685,951
XI-2 Total expenses$473,249
XI-3 Revenue less expenses$212,702
XI-4 Net assets at start of year$616,535
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$829,237

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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