The 1982 Foundation EIN 87-2345102

The 1982 Foundation

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Converts an old high school into a community center for recreation and support. For fiscal year 2024 it reported $1.4M in revenue, $534K in expenses, and $3.2M in net assets.Pt I

Type
Public charity (501(c)(3)) · Community Development
Location
Grantsville, WV
Website
www.the1982foundation.org
Filings
4 on file (2021–2024)
Revenue
$1.4MFY2024
Expenses
$534K
Net assets
$3.2M
People
8
Filings
4
Updates
0
More identity details & actions ⌄
EIN  87-2345102 Public charity (501(c)(3)) Grantsville, WV
Form 990 (PDF)
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Size
$1–10M
What they do
Converts an old high school into a community center for recreation and support.
Leadership
Jason Cunningham · Finance and HR Director · $75K
Money in and out
$1.4M revenue, $534K expenses
Bottom line
79% program efficiency
Where the money goes · FY2024
Total revenue
$1.4M
Pt VIII · Ln 12
Total expenses
$534K
Pt IX · Ln 25
Net assets
$3.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $841K
Where spending went · Part IX cols B–D
Program services $0.79 Management & general $0.21
Program efficiency
79%
of spending reaches programs▼ -3% vs prior filing year
Operating runway
2.1mo
months of highly liquid reserves at operating expense rate▼ -62% vs prior filing year
Surplus margin
+61%
revenue over expenses, this year▲ +82% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.4M
FY2024▲ +53%
Expenses
$534K
FY2024▼ -10%
Total assets
$6.2M
FY2024-0.4%
Total liabilities
$3.0M
FY2024▼ -22%
Total revenue
$1.4M
Pt VIII · Ln 12
Total expenses
$534K
Pt IX · Ln 25
Net assets
$3.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$841K
Total assetsPt X · Ln 16$6.2M
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service account for $420K of program spending, described in the organization's own filed words · FY2024.
01

To provide support for a community and recreation center for the residents of calhoun county. To provide the youth of calhoun county with athletic equipment to enhance outdoor activities.

$420Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CThe 1982 Foundation
EINHdr · item D87-2345102
Principal addressHdr · item CGrantsville, WV
WebsiteHdr · item Jwww.the1982foundation.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MWV
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S20)
Ruling yearIRS BMFJun 2022

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Finance and HR Director
$75,012Pt VII · Sec A
Board of Advisors
$0Pt VII · Sec A
Board of Advisors
$0Pt VII · Sec A
Vice President/Board
$0Pt VII · Sec A
Board of Advisors
$0Pt VII · Sec A
Treasurer/Board
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
President/Board
$0Pt VII · Sec A

Jason Cunningham’s $75K as Finance and HR Director is at the 9th percentile of top reported officer pay among 2834 $1–10M community 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 · 1 named individual · Part VII

NameFY2024FY2023
Jason Cunningham$75,012$61,090

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.

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Statement of Revenue

Part VIII
Contributions & grants$1.3M · 95%
Investment income$52K · 4%
Other revenue$19K · 1%
Contributions & grants95%$1.3M
Investment income4%$52K
Other revenue1%$19K
Total revenueLn 12$1.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.21
Program services79%$420K
Management & general21%$114K
Total functional expensesLn 25$534K

Balance Sheet

Part X · end of year
CashLn 1$95K
Total assetsLn 16$6.2M
Total liabilitiesLn 26$3.0M
Total net assetsLn 32$3.2M
Months of cash on handcomputed2.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $95K · Operating expenses/yr $534K
2.1 months
Where the money goes
Program services
Program services $420K · Total expenses $534K
79%
Management & General
Management & general $114K · Total expenses $534K
21%
Fundraising
Fundraising $0 · Total expenses $534K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $5K · Solicited contributions (3-yr avg) $1.1M
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.3M · Total revenue $1.4M
95%
Government reliance
Government grants — · Total revenue $1.4M
Earned-income share
Program service revenue $0 · Total revenue $1.4M
0%
Investment reliance
Investment income $52K · Total revenue $1.4M
+4%
Program self-sufficiency
Program service revenue $0 · Total expenses $534K
0%
Growth & trend
Revenue growth (YoY)
This year $1.4M · Prior year $896K
+53%
Net-asset trend (YoY)
End of year $3.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.4M · Expenses $534K
+61%
Liabilities-to-Assets
Total liabilities — · Total assets $6.2M
Net-asset ratio
Net assets $3.2M · Total assets $6.2M
52%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $6.2M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jason Cunningham · Reported title FINANCE AND HR DIRECTOR · Highest reported compensation $75K · Total expenses $534K
14%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $302K · Total expenses $534K
57%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 79%
Overhead ratio 21%
Fundraising cost ratio 0%
Revenue growth 53%
Accounting fee ratio 5%

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.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$224K
Grants paid · 4 grants · $177K · 2022–2024
Unitemized GrantFY2024$50,572
Calhoun Community Center Landlord LLCFY2023$71,069
Unitemized GrantFY2023$46,521
Unitemized GrantFY2022$8,853

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.4M revenue · viewing · ⤓ 990 PDF
FY2023$896K revenue · ⤓ 990 PDF
FY2022$1.3M revenue · ⤓ 990 PDF
FY2021$1.2M revenue · ⤓ 990 PDF

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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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