Telluride Foundation FY2020 filing

Tax-deductible

Telluride, CO501(c)(3)Since 2000Recreation & SportsEIN 84-1530768Revenue $7.9M in FY2020

On file with the IRStelluridefoundation.orgPo Box 4222, 81435-4222 · Telluride, COTax-exempt since Dec 2000Publicly supported charity — 170(b)(1)(A)(vi)

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The Telluride Foundation is committed to enriching the quality of life of the residents, visitors and workforce of the Telluride region. The Foundation does this by developing and supporting initiatives and making direct investments that maximize benefit to all, nurture self-reliance, and create meaningful change.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$195K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
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
3 of 5
filings with a surplus
Average surplus $293K a year · 5% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$195K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 9.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $55K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$3.8M
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
33
of 34 voting members
Looks good: 33 of 34 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.9M
Spent
$6.6M
To programs
92%
Net assets
$15.2M
By yearFY2020–FY2024
Revenue
$7.9M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$7.9M
FY2021$5.8M
FY2022$3.7M
FY2023$5.6M
FY2024$6.9M
Expenses
$6.6M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$6.6M
FY2021$6.1M
FY2022$4.9M
FY2023$5.2M
FY2024$5.8M
Net assets
$15.2M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$15.2M
FY2021$14.7M
FY2022$13.1M
FY2023$14.2M
FY2024$15.8M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 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 Dec 2000.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $6.0M Management & general 5% · $339K Fundraising 3% · $208K

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

34 people listed on the 990; $195K paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$195,129Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Jason Corzine’s $238K as President & CEO is at the 90th percentile of top reported officer pay among 1842 $1–10M recreation & sports 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 · 6 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jason Corzine$237,722$231,532$201,476——
Paul Major———$184,500$195,129
Elaine Demas$161,302$135,219———
April Montgomery$131,314$125,061———
Annemarie Jodlowski$110,904————
Paul Major Resigned 3312022——$72,197——

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 Telluride 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 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Enriches the Telluride region's quality of life by funding local initiatives, supporting self-reliance, and providing capacity-building training and resources to regional nonprofits.

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Provided by the organization

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2 programs · $6.0M · in their own filed words · FY2020
01

Education and Consulting

The foundation conducts workshops and technical assistance for nonprofits to increase their capacity, capabilities, efficiency and effectiveness. Since the foundation's inception, it has provided over 475 hours of free or subsidized workshops and technical assistance to regional nonprofits the foundation works directly with donors and…

$3.2Mprogram expense
02

Grants and Assistance Programs

Community and special initiative grants funded by unrestricted gifts from generous donors, the foundation has awarded over $25 million since its inception in 2000 annually the community grants program awards over $1 million through a competitive grants program to eligible 501(c)(3) nonprofits that serve the people of san miguel, ouray…

$2.8Mprogram 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 · FY2025
Total grants receivedfrom 4 funders$55K
See all 4 funders →
Grants paid · 276 grants · $11.6M · 2020–2024
Unitemized GrantFY2024$565,265
Unitemized GrantFY2024$229,563
Bright FuturesCO · FY2024$227,500
Tri-County Health NetworkCO · FY2024$111,680
Bethany CollegeFY2024$80,000
Norwood Fire Protection District Ems ServiceFY2024$71,465
Ridgway School District R-2FY2024$65,000
Rollins CollegeFL · FY2024$50,000
Home Trust of Ouray CountyCO · FY2024$50,000
Mountainfilm Ltd 01-01-94CO · FY2024$45,000
Fresh Food HubFY2024$45,000
San Miguel Resource CenterCO · FY2024$40,000
San Miguel Mentoring ProgramCO · FY2024$32,500
See all 276 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$7.9M
Ln 12
Gifts and grantsLn 1h$7.5M
Fees for servicesLn 2g$300K
Investment incomeLn 3$111K
Money outPt IX
$6.6M
Ln 25
Programscol B$6.0M
Managementcol C$339K
Fundraisingcol D$208K
Owns and owesPt X
$15.2M
net assets · Ln 32
Cash and savingsLn 1–2$5.3M
Total assetsLn 16$19.0M
LiabilitiesLn 26$3.8M
PeoplePt VI, VII
34
listed · VII A
PaidVII A1
Voting boardVI 1a34
IndependentVI 1b33
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.5M
Government grantsLn 1e$1.1M
Fees for servicesLn 2g$300K
Investment incomeLn 3$111K
Total revenueLn 12$7.9M
Assets in detailPt X, end of year
CashLn 1$11K
SavingsLn 2$5.3M
Cash and savings togetherLn 1–2$5.3M
InvestmentsLn 11–13$6.7M
Land, buildings, equipmentLn 10c$964K
Other assetsLn 15$0
Total assetsLn 16$19.0M
LiabilitiesLn 26$3.8M
Net assetsLn 32$15.2M
OperationsPt I, VI
EmployeesI 59
VolunteersI 655
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$2.9M$5.3M
InvestmentsLn 11–13$5.5M$6.7M
Land, buildings, equipmentLn 10c$416K$964K
Total assetsLn 16$15.4M$19.0M
LiabilitiesLn 26$2.4M$3.8M
Net assetsLn 32$13.0M$15.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.9M$1.9M
Grants to domestic individualsLn 2$908K$908K
Pay of current officers, directors and key staffLn 5$188K$113K$19K$56K
Other salaries and wagesLn 7$475K$398K$37K$40K
Pension plan contributionsLn 8$20K$16K$2K$3K
Other employee benefitsLn 9$190K$147K$16K$28K
Payroll taxesLn 10$47K$36K$4K$7K
Legal feesLn 11b$22K$19K$3K
Accounting feesLn 11c$91K$55K$33K$3K
Investment management feesLn 11f$221K$199K$22K
Other fees for servicesLn 11g$1.8M$1.8M
Advertising and promotionLn 12$21K$21K
Office expensesLn 13$139K$105K$10K$24K
Information technologyLn 14$86K$69K$6K$11K
OccupancyLn 16$134K$127K$2K$4K
TravelLn 17$16K$14K$393$1K
Conferences, conventions and meetingsLn 19$12K$10K$662$1K
InterestLn 20$34K$30K$1K$2K
Depreciation, depletion and amortizationLn 22$42K$22K$10K$10K
InsuranceLn 23$12K$5K$7K$157
Other expenses (24a–d)Ln 24$183K$166K$17K
Total functional expensesLn 25$6.6M$6.0M$339K$208K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $6.9M$5.8M$1.1M$15.8M 990 PDF
FY2023 $5.6M$5.2M$365K$14.2M 990 PDF
FY2022 $3.7M$4.9M−$1.1M$13.1M 990 PDF
FY2021 $5.8M$6.1M−$282K$14.7M 990 PDF
FY2020 Viewing $7.9M$6.6M$1.4M$15.2M 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 (6 parts)
Part I · Summary $7,940,167 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,624,526$7,528,667
I-9 Program service revenuePrior year $543,965$300,470
I-10 Investment incomePrior year $61,345$111,030
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $4,229,836$7,940,167
I-13 Grants and similar amounts paidPrior year $1,872,938$2,837,750
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $947,523$919,937
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,920,304$2,802,759
I-18 Total expensesPrior year $4,740,765$6,560,446
I-19 Revenue less expensesPrior year −$510,929$1,379,721
Part VI · Governance 33 of 34 board members independent, no flags
VI-1a Voting members of the governing body34
VI-1b Independent voting members33
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $7,940,167 across 6 lines filed
VIII-1e Government grants$1,099,439
VIII-1f All other contributions, gifts and grants$6,429,228
VIII-1h Total contributions, gifts and grants$7,528,667
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $300,470$300,470
VIII-3 Investment incomeExcluded from tax $111,030$111,030
VIII-12 Total revenueRelated to mission $300,470 · Unrelated business $0 · Excluded from tax $111,030$7,940,167
Part IX · Statement of functional expenses $6,560,446 across 21 lines filed
IX-1 Grants to domestic organizationsPrograms $1,929,385$1,929,385
IX-2 Grants to domestic individualsPrograms $908,365$908,365
IX-5 Pay of current officers, directors and key staffPrograms $112,746 · Management $18,791 · Fundraising $56,373$187,910
IX-7 Other salaries and wagesPrograms $398,216 · Management $36,996 · Fundraising $39,514$474,726
IX-8 Pension plan contributionsPrograms $15,551 · Management $1,698 · Fundraising $2,918$20,167
IX-9 Other employee benefitsPrograms $146,679 · Management $16,014 · Fundraising $27,526$190,219
IX-10 Payroll taxesPrograms $36,176 · Management $3,950 · Fundraising $6,789$46,915
IX-11b Legal feesPrograms $19,149 · Management $3,076$22,225
IX-11c Accounting feesPrograms $54,546 · Management $33,039 · Fundraising $3,249$90,834
IX-11f Investment management feesPrograms $199,153 · Management $22,311$221,464
IX-11g Other fees for servicesPrograms $1,788,253$1,788,253
IX-12 Advertising and promotionPrograms $21,127$21,127
IX-13 Office expensesPrograms $104,758 · Management $10,095 · Fundraising $24,498$139,351
IX-14 Information technologyPrograms $69,000 · Management $5,912 · Fundraising $11,298$86,210
IX-16 OccupancyPrograms $127,352 · Management $2,468 · Fundraising $4,192$134,012
IX-17 TravelPrograms $14,197 · Management $393 · Fundraising $1,178$15,768
IX-19 Conferences, conventions and meetingsPrograms $10,303 · Management $662 · Fundraising $1,309$12,274
IX-20 InterestPrograms $30,331 · Management $1,284 · Fundraising $1,942$33,557
IX-22 Depreciation, depletion and amortizationPrograms $21,932 · Management $10,173 · Fundraising $10,296$42,401
IX-23 InsurancePrograms $5,309 · Management $6,614 · Fundraising $157$12,080
IX-24 Other expenses (24a–d)Management $165,948 · Fundraising $17,255$183,203
IX-25 Total functional expensesPrograms $6,012,528 · Management $339,424 · Fundraising $208,494$6,560,446
Part X · Balance sheet $18,975,226 assets, 18 lines filed
Asset lines not itemized here account for $1,171,700; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $13,376$10,663
X-2 Savings and temporary cash investmentsStart of year $2,886,210$5,268,926
X-3 Pledges and grants receivableStart of year $5,027,017$4,779,955
X-4 Accounts receivableStart of year $161,325$109,656
X-9 Prepaid expenses and deferred chargesStart of year $30,895$13,001
X-10c Land, buildings and equipment, netStart of year $415,808$964,385
X-11 Publicly traded securitiesStart of year $5,475,196$6,656,940
X-15 Other assetsStart of year $22,625$0
X-16 Total assetsStart of year $15,365,109$18,975,226
X-17 Accounts payable and accrued expensesStart of year $173,728$158,345
X-18 Grants payableStart of year $1,233,480$1,008,469
X-19 Deferred revenueStart of year $7,200$1,250,000
X-25 Other liabilitiesStart of year $1,000,000$1,396,753
X-26 Total liabilitiesStart of year $2,414,408$3,813,567
X-27 Net assets without donor restrictionsStart of year $6,990,315$7,550,404
X-28 Net assets with donor restrictionsStart of year $5,960,386$7,611,255
X-32 Total net assets or fund balancesStart of year $12,950,701$15,161,659
X-33 Total liabilities and net assetsStart of year $15,365,109$18,975,226
Part XI · Reconciliation of net assets $15,161,659 net assets at year end
XI-1 Total revenue$7,940,167
XI-2 Total expenses$6,560,446
XI-3 Revenue less expenses$1,379,721
XI-4 Net assets at start of year$12,950,701
XI-5 Net unrealized gains (losses) on investments$816,955
XI-8 Prior period adjustments$14,282
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$15,161,659

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

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