Laces
- Assets
- $189.8k
- Revenue
- $366.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Takoma Park, MD
- Founding
- 01/2008
- Data as of
- 06/2022
- EIN
- 20-8293882
Organization Overview
Laces is located in Takoma Park, MD. The organization was established in 2008. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laces is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Laces generated $366.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $399.0k during the year ending 06/2022. While expenses have increased by 9.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LEVERAGE THE POWER OF SPORT TO MENTOR AT-RISK YOUTH. THROUGH THE POWER OF SPORTS AND POSITIVE ROLE MODELS WE PROVIDE SOCIAL, EMOTIONAL AND PHYSICAL SUPPORT FOR AT-RISK YOUTH IN THE UNITED STATES AND AROUND THE GLOBE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORED SOCCER LEAGUES THAT COMBINED SPORTS AND MENTORSHIP FOR 200 CHILDREN BETWEEN THE AGES OF 10-14 TEACHING LIFE SKILLS DESCRIBED IN OUR EXEMPT PURPOSE IN LIBERIA.
SPONSORED SOCCER LEAGUES THAT COMBINED SPORTS AND MENTORSHIP FOR 145 CHILDREN BETWEEN THE AGES OF 10-14 TEACHING LIFE SKILLS DESCRIBED IN OUR EXEMPT PURPOSE IN SIERRE LEONE.
SPONSORED 100 REFUGEE YOUTH TO ATTEND MENTORSHIP BASED SPORTS CAMPS AND 20 REFUGEE YOUTH TO PLAY IN A LOCAL SOCCER LEAGUE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Seren Fryatt Director | OfficerTrustee | 40 | $0 |
Scott Smalstig Secretary | OfficerTrustee | 1 | $0 |
Cash Graner Chairman Of Board | OfficerTrustee | 1 | $0 |
Sonya Funna Evelyn Director | Trustee | 1 | $0 |
Dann Tomasson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $94,666 |
| All other contributions, gifts, grants, and similar amounts not included above | $271,025 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $365,691 |
| Total Program Service Revenue | $0 |
| Investment income | $12 |
| 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 | $366,142 |
| 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. | $41,759 |
| Compensation of current officers, directors, key employees. | $11,503 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,426 |
| 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 | $24,456 |
| Advertising and promotion | $1,446 |
| Office expenses | $14,665 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,221 |
| Travel | $1,959 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,145 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,211 |
| Insurance | $3,277 |
| All other expenses | $127,831 |
| Total functional expenses | $399,032 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $177,078 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $12,769 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $189,847 |
| Accounts payable and accrued expenses | $22,917 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $22,917 |
| Net assets without donor restrictions | $166,930 |
| 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 | $189,847 |