Life Restoration Network
- Assets
- $127.6k
- Revenue
- $385.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Carrollton, TX
- Founding
- 11/2018
- Data as of
- 12/2021
- EIN
- 82-3297557
Organization Overview
Life Restoration Network is located in Carrollton, TX. The organization was established in 2018. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Life Restoration Network employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life Restoration Network 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 12/2021, Life Restoration Network generated $385.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (8.9%) each year. All expenses for the organization totaled $346.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 4 years. 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
THROUGH OUR UNIQUE BOXING PROGRAM OUR COACHES, MENTORS AND EDUCATORS CONNECT TO OUR CITY'S YOUTH, EMPOWERING OUR STUDENTS TO GREATER HEALTH, FITNESS, AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH OUR UNIQUE BOXING PROGRAM OUR COACHES, MENTORS AND EDUCATORS CONNECT TO OUR CITY'S YOUTH, EMPOWERING OUR STUDENTS TO GREATER HEALTH, FITNESS, AND EDUCATION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy L Bolos Treasurer | OfficerTrustee | $0 | |
Steven P Bolos President | OfficerTrustee | $0 | |
Thomas Hunt Executive Di | Officer | $0 | |
April R Woods Secretary | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $244,813 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $128,372 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $373,185 |
| Total Program Service Revenue | $19,895 |
| 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 | -$7,992 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $385,088 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,789 |
| 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 | $70,507 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,382 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,200 |
| 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 | $84,665 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $2,163 |
| Royalties | $0 |
| Occupancy | $124,030 |
| Travel | $1,442 |
| 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 | $13,766 |
| All other expenses | $9,031 |
| Total functional expenses | $346,017 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,664 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70,000 |
| 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 | $37,922 |
| Total assets | $127,586 |
| Accounts payable and accrued expenses | $8,265 |
| 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 | $40,932 |
| Total liabilities | $49,197 |
| Net assets without donor restrictions | $78,389 |
| 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 | $127,586 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Life Restoration Network has recieved totaling $28,075.
| Awarding Organization | Amount |
|---|---|
Insurance Industry Charitable Foundation Inc Los Angeles, CA PURPOSE: HEALTH/SAFETY | $10,000 |
Bolos Foundation Carrollton, TX PURPOSE: LEADERSHIP DEVELOPMENT FOR YOUTH | $10,000 |
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $8,075 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sugar Bowl Louisiana Superdome New Orleans, LA | $66,510,603 | $18,207,173 |
United States Bowling Congress Inc Arlington, TX | $43,212,080 | $16,821,741 |
Spirit Golf Association The Woodlands, TX | $13,402,948 | $7,337,039 |
Houston Marathon Committee Houston, TX | $3,423,788 | $6,041,457 |
North American Prospect Hockey League Dallas, TX | $969,762 | $3,250,253 |
Ibc Youth Bowling Inc Arlington, TX | $4,392,185 | $2,638,582 |
Dallas White Rock Marathon Dallas, TX | $935,538 | $2,152,497 |
Cowtown Marathon Inc Fort Worth, TX | $1,036,518 | $2,018,808 |
New Orleans Bowl Inc Metairie, LA | $2,170,693 | $2,129,324 |
Town And Country Optimist Foundation Austin, TX | $1,110,634 | $1,534,736 |
United States Bowling Congress Inc Bryan, TX | $908,410 | $1,160,070 |
Amateur Athletic Union Of The United States Inc Edmond, OK | $749,676 | $1,164,829 |