Laces
- Assets
- $213.1k
- Revenue
- $328.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Takoma Park, MD
- Founding
- 01/2008
- Data as of
- 06/2021
- 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. As of 06/2021, Laces employed 2 individuals. 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 06/2021, Laces generated $328.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $239.4k during the year ending 06/2021. While expenses have increased by 2.1% per year over the past 6 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
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.
PROVIDED 100 REFUGEE YOUTH WITH VIRTUAL SOCCER CAMPS AND CLINICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Seren Fryatt Director | OfficerTrustee | 40 | $50,000 |
Cash Graner Chairman Of Board | OfficerTrustee | 1 | $0 |
Scott Smalstig Secretary | OfficerTrustee | 1 | $0 |
Sonya Funna Director | Trustee | 1 | $0 |
Sonia Moldovan Director | Trustee | 1 | $0 |
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 | $309,808 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $309,808 |
| Total Program Service Revenue | $0 |
| Investment income | $17 |
| 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 | $328,338 |
| 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. | $51,918 |
| Compensation of current officers, directors, key employees. | $10,630 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,186 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,973 |
| 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 | $7,458 |
| Advertising and promotion | $1,490 |
| Office expenses | $5,865 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,612 |
| Travel | $2,417 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,113 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,835 |
| Insurance | $3,292 |
| All other expenses | $65,081 |
| Total functional expenses | $239,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $203,040 |
| 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 | $5,363 |
| Net Land, buildings, and equipment | $4,680 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $213,083 |
| Accounts payable and accrued expenses | $6,350 |
| 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 | $18,513 |
| Other liabilities | $0 |
| Total liabilities | $24,863 |
| Net assets without donor restrictions | $188,220 |
| 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 | $213,083 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Laces has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Emerson-Griffin-Toring Private Foundation Bend, OR PURPOSE: EDUCATION | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Operation Blessing International Relief & Development Corp Virginia Beach, VA | $46,516,514 | $96,480,836 |
World Relief Corp Of National Association Of Evangelicals Baltimore, MD | $37,205,019 | $88,134,638 |
World Central Kitchen Incorporated Washington, DC | $115,400,907 | $122,852,447 |
Relief International Inc Washington, DC | $18,093,145 | $70,140,451 |
Blumont Global Development Inc Arlington, VA | $10,315,810 | $52,380,007 |
Halo Trust Usa Inc Washington, DC | $9,736,478 | $47,613,594 |
Results For Development Institute Inc Washington, DC | $16,759,449 | $40,353,687 |
Lutheran World Relief Inc Baltimore, MD | $72,287,667 | $69,634,457 |
Christian Relief Services Charities Inc Alexandria, VA | $4,032,952 | $38,457,221 |
International Orthodox Christian Charities Inc Baltimore, MD | $21,145,773 | $37,778,660 |
United Palestinian Appeal Inc Washington, DC | $6,253,375 | $30,902,975 |
Christian Relief Services Charities Inc Alexandria, VA | $1,058,086 | $23,184,836 |