Clover Foundation
- Assets
- $2.2m
- Revenue
- -$308.9k
- Investments
- $0.0
- Employees
- 0
- Location
- New Orleans, LA
- Founding
- 08/2014
- Data as of
- 06/2022
- EIN
- 46-3082856
Organization Overview
Clover Foundation is located in New Orleans, LA. The organization was established in 2014. According to its NTEE Classification (P21) the organization is classified as: American Red Cross, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clover Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION SERVES AS THE SUPPORTING ORGANIZATION TO CLOVER NOLA, INC., A LOUISIANA NON-PROFIT CORPORATION. THE FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLOVER FOUNDATION SERVES AS THE SUPPORTING ORGANIZATION OF CLOVER NOLA, INC. THE CLOVER FOUNDATION WAS ESTABLISHED TO SUPPORT FUTURE PROGRAMMATIC GROWTH AND ENCOURAGE INNOVATION OF CLOVER NOLA AS WELL AS PROVIDE SECURITY FOR UNANTICIPATED EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheldon F Skip Brechtel President | OfficerTrustee | 0.5 | $0 |
Katherine Gelderman Director | Trustee | 0.25 | $0 |
Margaret Montgomery-Richard Secretary | OfficerTrustee | 0.5 | $0 |
Kit Fritchie Treasurer | OfficerTrustee | 0.25 | $0 |
Bill Hammack Director | Trustee | 0.25 | $0 |
Keith H Liederman Director/ceo | OfficerTrustee | 0.25 | $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 | $103,174 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $103,174 |
| Total Program Service Revenue | $0 |
| Investment income | $5,892 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$417,973 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$308,907 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $215 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $41 |
| Total functional expenses | $256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,590,920 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $386,293 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $252,214 |
| Total assets | $2,229,427 |
| Accounts payable and accrued expenses | $25,349 |
| 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 | $968,562 |
| Total liabilities | $993,911 |
| Net assets without donor restrictions | $1,235,516 |
| 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 | $2,229,427 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cen-Tex Family Services Inc Bastrop, TX | $3,405,425 | $8,078,104 |
Our Daily Bread Of Tangipahoa Hammond, LA | $1,415,931 | $5,559,124 |
Heart Of Texas Foundation College Of Ministry Bellville, TX | $2,059,123 | $868,070 |
Institutes For Human Being Inc Oxford, MS | $55,811 | $204,800 |
Main Street Ozark Inc Ozark, AR | $50,566 | $0 |
Clover Foundation New Orleans, LA | $2,229,427 | -$308,907 |