The Loss Prevention Foundation
- Assets
- $1.4m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 3
- Location
- Charlotte, NC
- Founding
- 02/2008
- Data as of
- 12/2021
- EIN
- 20-5822618
Organization Overview
The Loss Prevention Foundation is located in Charlotte, NC. The organization was established in 2008. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2021, Loss Prevention Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loss Prevention Foundation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Loss Prevention Foundation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $880.2k during the year ending 12/2021. While expenses have increased by 4.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
A NON-PROFIT FOUNDATION CREATED FOR THE BENEFIT AND ADVANCEMENT OF THE LOSS PREVENTION COMMUNITY PRIMARILY THROUGH EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CERTIFICATION COURSES AND TRAINING TO MEMBERS AND OTHER BENEFITS TO THE LOSS PREVENTION COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Sullivan President | OfficerTrustee | 50 | $270,000 |
Frank Johns Chairman | OfficerTrustee | 2.5 | $0 |
Paul Jones Vice Chairman | OfficerTrustee | 1.5 | $0 |
Mark Stinde Treasurer | OfficerTrustee | 1 | $0 |
Oscar Arango Member | Trustee | 0.5 | $0 |
Jason Coren Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
David L Phillips Services Consulting | 12/30/17 | $62,894 |
Strongside Principles Course Development | 12/30/17 | $38,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,388,695 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,400,701 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $270,000 |
| Compensation of current officers, directors, key employees. | $67,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $221,398 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,886 |
| Payroll taxes | $18,581 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $106,553 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,030 |
| Travel | $10,561 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,741 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,416 |
| Insurance | $2,434 |
| All other expenses | $25,779 |
| Total functional expenses | $880,180 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,327,318 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $51,268 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,996 |
| Net Land, buildings, and equipment | $2,367 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,382,949 |
| Accounts payable and accrued expenses | $75 |
| Grants payable | $0 |
| Deferred revenue | $307,786 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $57,250 |
| Total liabilities | $365,111 |
| Net assets without donor restrictions | $1,017,838 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,382,949 |
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