Beautify Loretto INC FY2024 filing

Tax-deductible

Elizabethtown, KY501(c)(3)Since 2018EnvironmentEIN 83-0828498Revenue $5K in FY2024

On file with the IRS418 Deer Lake Rd, 42701-6984 · Elizabethtown, KYTax-exempt since Aug 2018Publicly supported charity — 170(b)(1)(A)(vi)

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To improve the appearance of the city of Loretto, kentucky, thereby helping to enrich the lives of the people who live there. Also, to develop and pursue initiatives that promote beautification of the city, while supporting endeavors that enrich family life, promote economic develpment and strengthen community pride.

501(c)(3) charity; gifts are tax-deductible.
11¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
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 $95K a year · 80% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
11%
of spending
Concern: 11% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
718 mo
of spending, in cash
Looks good: 718.1 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
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5K
+9% vs prior year
Spent
$6K
To programs
11%
Net assets
$915K
By yearFY2020–FY2025
Revenue
$5K
FY2024▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$225K
FY2021$227K
FY2022$228K
FY2023$4K
FY2024$5K
FY2025$27K
Expenses
$6K
FY2024▲ +53%
Tap a bar for its year
Expenses by fiscal year
FY2020$15K
FY2021$48K
FY2022$59K
FY2023$4K
FY2024$6K
FY2025$12K
Net assets
$915K
FY2024-0.1%
Tap a bar for its year
Net assets by fiscal year
FY2020$568K
FY2021$746K
FY2022$916K
FY2023$916K
FY2024$915K
FY2025$930K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 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 Aug 2018.

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

Where the money goes

11 cents of each dollar spent went to programs.

Program services 11% · $650 Management & general 84% · $5K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
See Beautify Loretto INC 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

Beautifies the city to enrich residents' lives through beautification initiatives.

Questions for Beautify Loretto INC

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Provided by the organization

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1 program · $650 · in their own filed words · FY2024
01

Clean up beautification of loretto

$650program expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$5K
Ln 12
Gifts and grantsLn 1h$5K
Investment incomeLn 3$17
Money outPt IX
$6K
Ln 25
Programscol B$650
Managementcol C$5K
Owns and owesPt X
$915K
net assets · Ln 32
Cash and savingsLn 1–2$348K
Total assetsLn 16$915K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5K
Fundraising eventsLn 1c$946
Investment incomeLn 3$17
Total revenueLn 12$5K
Assets in detailPt X, end of year
CashLn 1$348K
Cash and savings togetherLn 1–2$348K
Land, buildings, equipmentLn 10c$567K
Total assetsLn 16$915K
LiabilitiesLn 26$0
Net assetsLn 32$915K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$443K$348K
Land, buildings, equipmentLn 10c$473K$567K
Total assetsLn 16$916K$915K
LiabilitiesLn 26$0$0
Net assetsLn 32$916K$915K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$530$530
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$120$120
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$325$325
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$968$968
Other expenses (24a–d)Ln 24$3K$650$2K
All other expensesLn 24e$689$689
Total functional expensesLn 25$6K$650$5K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $27K$12K$15K$930K 990 PDF
FY2024 Viewing $5K$6K−$1K$915K 990 PDF
FY2023 $4K$4K$543$916K 990 PDF
FY2022 $228K$59K$169K$916K 990 PDF
FY2021 $227K$48K$179K$746K 990 PDF
FY2020 $225K$15K$210K$568K 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 FY2024 990 (6 parts)
Part I · Summary $4,737 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,322$4,720
I-9 Program service revenue$0
I-10 Investment incomePrior year $36$17
I-11 Other revenue$0
I-12 Total revenuePrior year $4,358$4,737
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,815$5,823
I-18 Total expensesPrior year $3,815$5,823
I-19 Revenue less expensesPrior year $543−$1,086
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $4,737 across 5 lines filed
VIII-1c Fundraising events$946
VIII-1f All other contributions, gifts and grants$3,774
VIII-1h Total contributions, gifts and grants$4,720
VIII-3 Investment income$17
VIII-12 Total revenue$4,737
Part IX · Statement of functional expenses $5,823 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $530$530
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expensesManagement $120$120
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsManagement $325$325
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsuranceManagement $968$968
IX-24 Other expenses (24a–d)Programs $650 · Management $2,288$3,191
IX-24e All other expensesManagement $689$689
IX-25 Total functional expensesPrograms $650 · Management $4,920 · Fundraising $0$5,823
Part X · Balance sheet $915,168 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $442,816$348,476
X-10c Land, buildings and equipment, netStart of year $473,438$566,692
X-16 Total assetsStart of year $916,254$915,168
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $916,254$915,168
X-33 Total liabilities and net assetsStart of year $916,254$915,168
Part XI · Reconciliation of net assets $915,168 net assets at year end
XI-1 Total revenue$4,737
XI-2 Total expenses$5,823
XI-3 Revenue less expenses−$1,086
XI-4 Net assets at start of year$916,254
XI-10 Net assets at end of year$915,168

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

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