Coolxdad INC FY2023 filing

Tax-deductible

Houston, TX501(c)(3)Since 2021Human ServicesEIN 86-2941115Revenue $237K in FY2023

On file with the IRS2368 Rice Blvd Ste a Pmb 109, 77005-2600 · Houston, TXTax-exempt since Dec 2021Publicly supported charity — 170(b)(1)(A)(vi)

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Coolxdad's mission is to aid and uplift all fathers of color striving to build a better world for their children and serve their communities. Eradication of negative stigmas surounding fathers of color and their children, through fellowship, enlightenment and action.

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

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
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
2 of 2
filings with a surplus
Average surplus $77K a year · 30% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
11%
of spending
Concern: 11% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 9.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $110K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
−$900
-0.7% of total assets
Looks good: liabilities are -1% 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
$237K
Spent
$117K
To programs
11%
Net assets
$135K
By yearFY2023–FY2025
Revenue
$237K
FY2023
Tap a bar for its year
Revenue by fiscal year
FY2023$237K
FY2024$146K
FY2025$272K
FY2025$646K
Expenses
$117K
FY2023
Tap a bar for its year
Expenses by fiscal year
FY2023$117K
FY2024Not on file
FY2025$239K
FY2025$487K
Net assets
$135K
FY2023
Tap a bar for its year
Net assets by fiscal year
FY2023$135K
FY2024$64K
FY2025$97K
FY2025$218K

From the FY2023 Form 990 (year ending February 2023) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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 Dec 2021.

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% · $12K Management & general 89% · $104K

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

1 person listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
See Coolxdad 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

Supports fathers of color to build better futures for their children and communities.

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Provided by the organization

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3 programs · in their own filed words · FY2022
01

We met at Knight's Table a few times this year but maybe the most memorable evening was our June dinner in honor of Father's Day and Juneteenth. Knight's Table dinners are about us the CoolxDad members. They are a time for us to reconnect refocus and remember why we created this intentional community to begin with.

Pt IX · col B
02

CoolxDad and the Montrose Collective partnered for the very first Open Source Community Conversation. The afternoon of learning and celebrating featured mental health and wellness speakers panels on the arts and fatherhood food drinks good music and more all free to the community.

Pt IX · col B
03

Financial Coach Kensley Dougan and leadership coach John Marshall brought their workshops back to our virtual space teaching us how to manage our money to develop generational wealth and manage our wellness to develop generational health.

Pt IX · col B

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
Total grants receivedfrom 2 funders$110K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$237K
Ln 12
Gifts and grantsLn 1h$237K
Money outPt IX
$117K
Ln 25
Programscol B$12K
Managementcol C$104K
Owns and owesPt X
$135K
net assets · Ln 32
Cash and savingsLn 1–2$93K
Total assetsLn 16$134K
LiabilitiesLn 26−$900
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$237K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Total revenueLn 12$237K
Assets in detailPt X, end of year
CashLn 1$93K
SavingsLn 2$0
Cash and savings togetherLn 1–2$93K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$4K
Other assetsLn 15$0
Total assetsLn 16$134K
LiabilitiesLn 26−$900
Net assetsLn 32$135K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderFebruary
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 FY23End FY23
Cash and savingsLn 1–2$15K$93K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$0$4K
Total assetsLn 16$15K$134K
LiabilitiesLn 26$200−$900
Net assetsLn 32$14K$135K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$20K$0$20K$0
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$0$0$0$0
Pension plan contributionsLn 8$0$0$0$0
Other employee benefitsLn 9$0$0$0$0
Payroll taxesLn 10$0$0$0$0
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$0$0$0$0
Accounting feesLn 11c$907$0$907$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$0$0$0$0
Other fees for servicesLn 11g$46K$12K$33K$0
Advertising and promotionLn 12$819$0$819$0
Office expensesLn 13$17K$0$17K$0
Information technologyLn 14$10K$0$10K$0
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$0$0$0$0
TravelLn 17$5K$0$5K$0
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$0$0$0$0
InterestLn 20$0$0$0$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$0$0$0$0
InsuranceLn 23$0$0$0$0
Other expenses (24a–d)Ln 24$17K$0$17K$0
Total functional expensesLn 25$117K$12K$104K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 $272K$239K$33K$97K 990 PDF
FY2024 $146K$64K 990 PDF
FY2023 Viewing $237K$117K$120K$135K 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 (6 parts)
Part I · Summary $236,763 revenue, 12 lines filed
I-8 Contributions and grants$236,763
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$236,763
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$19,995
I-16a Professional fundraising fees$0
I-17 Other expenses$96,617
I-18 Total expenses$116,612
I-19 Revenue less expenses$120,151
Part VI · Governance 3 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $236,763 across 13 lines filed
VIII-1a Federated campaigns$100,000
VIII-1b Membership dues$10,701
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$126,062
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$236,763
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$236,763
Part IX · Statement of functional expenses $116,612 across 26 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $19,995 · Fundraising $0$19,995
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $0 · Management $0 · Fundraising $0$0
IX-8 Pension plan contributionsPrograms $0 · Management $0 · Fundraising $0$0
IX-9 Other employee benefitsPrograms $0 · Management $0 · Fundraising $0$0
IX-10 Payroll taxesPrograms $0 · Management $0 · Fundraising $0$0
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11c Accounting feesPrograms $0 · Management $907 · Fundraising $0$907
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $12,387 · Management $33,322 · Fundraising $0$45,709
IX-12 Advertising and promotionPrograms $0 · Management $819 · Fundraising $0$819
IX-13 Office expensesPrograms $0 · Management $17,285 · Fundraising $0$17,285
IX-14 Information technologyPrograms $0 · Management $9,521 · Fundraising $0$9,521
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $0 · Management $0 · Fundraising $0$0
IX-17 TravelPrograms $0 · Management $4,989 · Fundraising $0$4,989
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$0
IX-20 InterestPrograms $0 · Management $0 · Fundraising $0$0
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $0 · Fundraising $0$0
IX-23 InsurancePrograms $0 · Management $0 · Fundraising $0$0
IX-24 Other expenses (24a–d)Programs $0 · Management $17,387 · Fundraising $0$17,387
IX-25 Total functional expensesPrograms $12,387 · Management $104,225 · Fundraising $0$116,612
Part X · Balance sheet $133,734 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $14,683$92,731
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$36,897
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $0$4,106
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $14,683$133,734
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $200−$900
X-26 Total liabilitiesStart of year $200−$900
X-27 Net assets without donor restrictionsStart of year $14,483$134,634
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $14,483$134,634
X-33 Total liabilities and net assetsStart of year $14,683$133,734
Part XI · Reconciliation of net assets $134,634 net assets at year end
XI-1 Total revenue$236,763
XI-2 Total expenses$116,612
XI-3 Revenue less expenses$120,151
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$134,634

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

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