Fullmer Legacy Foundation

South Jordan, UT · Public charity (501(c)(3)) · Youth Development

✓ Tax-deductible
Revenue
$2.1M
-20% vs prior year
Spent
$162K
To programs
44%
Net assets
$7.2M
By yearFY2020–FY2024
Revenue
$2.1M
FY2024▼ -20%
Revenue by fiscal year
FY2020$30K
FY2022$333K
FY2023$2.6M
FY2024$2.1M
Expenses
$162K
FY2024▼ -46%
Expenses by fiscal year
FY2020$24K
FY2022$90K
FY2023$297K
FY2024$162K
Net assets
$7.2M
FY2024▲ +33%
Net assets by fiscal year
FY2020$21K
FY2022$2.9M
FY2023$5.4M
FY2024$7.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CFullmer Legacy Foundation
EINHdr · item D82-4314086
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 2022
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CSouth Jordan, UT
NTEE classificationIRS BMFYouth Development (O50)

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.44 Management & general $0.53 Fundraising $0.02
Program services44%$71K
Management & general53%$86K
Fundraising2%$4K
Total functional expensesLn 25$162K

Financial health

Is it on solid ground?

Program efficiency
44%
of spending reaches programs▼ -48% vs prior filing year
Operating runway
47.2mo
months of highly liquid reserves at operating expense rate▼ -65% vs prior filing year
Surplus margin
+92%
revenue over expenses, this year▲ +4% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$7.2M
FY2024▲ +30%
Total assets by fiscal year
FY2020$21K
FY2022$2.9M
FY2023$5.6M
FY2024$7.2M
Total liabilities
$2K
FY2024▼ -98%
Total liabilities by fiscal year
FY2020$0
FY2022$47
FY2023$108K
FY2024$2K
Revenue less expensesPt I · Ln 19$1.9M
Total assetsPt X · Ln 16$7.2M
Program-expense ratioPt IX · col B44%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 49

Balance Sheet

Part X · end of year
CashLn 1$635K
Total assetsLn 16$7.2M
Total liabilitiesLn 26$2K
Total net assetsLn 32$7.2M
Months of cash on handcomputed47.2

Statement of Revenue

Part VIII
Contributions & grants$2.0M · 95%
Investment income$110K · 5%
Contributions & grants95%$2.0M
Investment income5%$110K
— government grantsLn 1e$1.0M
Total revenueLn 12$2.1M

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $635K · Operating expenses/yr $162K
47.2 months
Where the money goes
Program services
Program services $71K · Total expenses $162K
44%
Management & General
Management & general $86K · Total expenses $162K
53%
Fundraising
Fundraising $4K · Total expenses $162K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $11K · Solicited contributions (3-yr avg) $941K
$0.01 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $2.0M · Total revenue $2.1M
95%
Government reliance
Government grants $1.0M · Total revenue $2.1M
48%
Earned-income share
Program service revenue $0 · Total revenue $2.1M
0%
Investment reliance
Investment income $110K · Total revenue $2.1M
+5%
Program self-sufficiency
Program service revenue $0 · Total expenses $162K
0%
Growth & trend
Revenue growth (YoY)
This year $2.1M · Prior year $2.6M
-20%
Revenue CAGR
FY2020 $30K · FY2024 $2.1M
+188%
Net-asset trend (YoY)
End of year $7.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.1M · Expenses $162K
+92%
Liabilities-to-Assets
Total liabilities — · Total assets $7.2M
—
Net-asset ratio
Net assets $7.2M · Total assets $7.2M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $7.2M
0%
People & payroll
Highest Reported Total Compensation
Individual Michelle Bogdan-Holt · Reported title Executive Dir. · Highest reported compensation $78K · Total expenses $162K
48%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $78K · Total expenses $162K
48%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 44%——
Overhead ratio 53%——
Fundraising cost ratio 0.2%——
Revenue growth -20%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 0.04%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Dir.
$78,000Pt VII · Sec A
President Chair
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Michelle Bogdan-Holt’s $78K as Executive Dir. is at the 11th 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.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022
Michelle Bogdan-Holt$78,000——
Christine Clark—$16,500$24,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Fullmer Legacy Foundation executive salaries →

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Governance & Policies

Part VI
  • 10Voting board membersPt VI · Ln 1a
  • 9Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2Yes

Mission and programs

What it does.

Teaches underprivileged youth discipline, sportsmanship, and resilience through boxing.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $71K of program spending, described in the organization's own filed words · FY2024.
01

The utah legislature budgeted $2,000,000 to be used to build an operating facility that will have a boxing gym. The building will be built on government land which is being leased to the foundation for 50 years below FMV. Actual paid lease expense each year is $1.

$71Kprogram expense

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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 · funders on record
Grants received · FY2024
Daniels FundFY2024$500K
Total grants receivedfrom 3 funders$510K
See all 3 funders →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest Viewing $2.1M$162K-20% 990 PDF
FY2023 $2.6M$297K+681% 990 PDF
FY2022 $333K$90K×11 990 PDF
FY2021 Not on file
FY2020 $30K$24K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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