Civic Intelligence

Ladies Empowerment and Action Program Inc.

990 • Fiscal year 2019 • EIN 27-0193483

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 30, 2020

3141 SW 8th StreetMiami, FL 33135

(954) 456-5992

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

39th percentile

0.01x

Higher debt load relative to assets than 39% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

33rd percentile

0.00x

Higher debt load relative to revenue than 33% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

43rd percentile

1.2%

Higher net margin than 43% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

77th percentile

$72,000

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 11.3% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

73rd percentile

16%

Faster asset growth than 73% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

91st percentile

86%

Faster revenue growth than 91% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Up

$248,327

Up $33,831 (+16%) from 2018

Net Assets

Up

$246,232

Up $31,736 (+15%) from 2018

Liabilities

Up

$2,095

Up $2,095 from 2018

Revenue

Up

$635,429

Up $293,127 (+86%) from 2018

Expenses

Up

$627,495

Up $359,396 (+134%) from 2018

Net Income

Down

$7,934

Down $66,269 (-89%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2018: $214,496Liabilities 2018: $0Net Assets 2018: $214,4962018Assets 2019: $248,327Liabilities 2019: $2,095Net Assets 2019: $246,2322019Assets 2020: $356,040Liabilities 2020: $2,489Net Assets 2020: $353,5512020Assets 2021: $476,459Liabilities 2021: $6,527Net Assets 2021: $469,9322021Assets 2022: $1,032,667Liabilities 2022: $368,441Net Assets 2022: $664,2262022Assets 2023: $1,333,922Liabilities 2023: $360,392Net Assets 2023: $973,5302023Assets 2024: $1,323,614Liabilities 2024: $501,417Net Assets 2024: $822,1972024

Highlighted filing

2019

Assets$248,327
Liabilities$2,095
Net Assets$246,232

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2018: $342,302Expenses 2018: $268,099Net Income 2018: $74,2032018Revenue 2019: $635,429Expenses 2019: $627,495Net Income 2019: $7,9342019Revenue 2020: $659,830Expenses 2020: $552,511Net Income 2020: $107,3192020Revenue 2021: $886,204Expenses 2021: $769,823Net Income 2021: $116,3812021Revenue 2022: $1,255,671Expenses 2022: $1,061,377Net Income 2022: $194,2942022Revenue 2023: $1,547,782Expenses 2023: $1,238,478Net Income 2023: $309,3042023Revenue 2024: $1,216,242Expenses 2024: $1,367,574Net Income 2024: -$151,3322024

Highlighted filing

2019

Revenue$635,429
Expenses$627,495
Net Income$7,934
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 30, 2020
Return Version
2019v5.0
Gross Receipts
$649,021
Mission and Program Overview

Mission

For every incarcerated women who is committed to change to have the opportunity and tools to achieve her full potential. Leap empowers incarcerated women to transcend their past and successfully re-enter society by providing transformational education, entrepreneurial training and mentorship. We serve as a model,voice and advocate for the power of rehabilitation over retribution.

Leap is dedicated to helping incarcerated women transcend their past. Our goal is to provide graduates with the tools and support necessary to sustain themselves post-release by establishing their own small business or obtaining employment. The efforts made by leap help to rejuvinate the local workforce, lessens the strain on local resources, helps reduce crime in our communities and reduces recidivism.we are the only non-profit agency in all of florida to focus on women in prison using a holistic entrepreneurship model.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$113,319$122,926▲ $9,607
Pledges and Grants Receivable$57,500$50,000▼ $7,500
Inventories for Sale or Use-$34,380-
Land, Buildings, and Equipment, Net$22,289$16,048▼ $6,241
Intangible Assets-$13,460-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$214,496$248,327▲ $33,831
Other Assets Total$21,388$11,513▼ $9,875
Liabilities
Other Liabilities-$1,695-
Accounts Payable and Accrued Expenses-$400-
Total Liabilities$0$2,095▲ $2,095
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$214,496$246,232▲ $31,736
Total Net Assets Fund Balance$214,496$246,232▲ $31,736
Total Liabilities and Net Assets / Fund Balance$214,496$248,327▲ $33,831

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$16,048-$16,048
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Mahlia LindquistExecutive Director & Board MemberFT$72,000$72,000

Board Members and Trustees

NameTitle
Yvette BravoBoard President
Gustavo CastilloBoard Member
Holly WoodburyBoard Member
Shed BorenBoard Member
Tom BowmanBoard Member
Rebecca BrownBoard Secretary
Gemma GarciaBoard Treasurer
Silvana RoncalBoard Vice Pres
Revenue and Support

Revenue Composition

Contributions and Grants
$459,185
Program Service Revenue
$159,155
Investment Income
$0
Other Revenue
$17,089
All Other Contributions
$459,185
Change in Net Assets
$7,934

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeReported Amount
Clothing and Household Goods$155,955
Books and Publications$350
Total Noncash Contributions$156,305

Audited Revenue Reconciliation

Revenue per Audited Statements
$635,429
Total Revenue per Audited Statements
$635,429
Total Revenue per Form 990
$635,429
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$367,912
Salaries, Compensation, and Employee Benefits$259,583
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$141,117$26,228-$167,345
Current Officers, Directors, Trustees, and Key Employees$54,000$18,000-$72,000
Occupancy$59,461$7,138-$66,599
All Other Expenses$40,571$10,209-$50,780
Payroll Taxes$16,284$3,954-$20,238
Depreciation Depletion$11,697--$11,697
Other Expenses$11,056--$11,056
Fees for Services Accounting-$9,819-$9,819
Fees for Services Other$5,375--$5,375
Insurance$724$3,680-$4,404
Office Expenses$1,210$1,947-$3,157
Travel$953$72-$1,025
Advertising$634--$634
Conferences and Meetings-$207-$207
Fees for Services Legal-$150-$150
Total Functional Expenses$546,091$81,404$0$627,495

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$627,495
Total Expenses per Audited Statements$627,495
Total Expenses per Form 990$627,495
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$20,634
Fundraising Direct Expenses$13,592
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Second Chance Soiree$20,634$20,634$4,509$16,125
Total Events$20,634$20,634$13,592$7,042
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sales Tax Payable$1,141
Other Liabilities$554
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The board of directors reviews the financial statements and tax return

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The document was sent electronically to all board members and any possible conflicts are required to be disclosedpolicy is reviewed and discussed periodically by board members and disputes disclosed

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Market comparison, review and discussion by board members

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Review and discussion by board members

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Ladies Empowerment & Action Program Inc
EIN
27-0193483
Phone
9544565992
Address
3141 SW 8TH STREET, MIAMI, FL 33135

Signing Officer

Name
Mahlia Lindquist
Title
Exec Director
Signed
2020-06-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mahlia Lindquist
Formed
2009
Legal Domicile
Fl
Voting Board Members
8
Independent Board Members
0
Employees
13
Volunteers
93

Preparer

Firm
Heritage Accounting & Tax Service Inc
Address
5220 SW 64TH AVE, DAVIE, FL 33314
Preparer
Raul De La Campa CPA
Phone
9547975060
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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DIRECTOR & BOARD MEMBER
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IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt07138
IRS990/OccupancyGrp/ProgramServicesAmt059461
IRS990/OccupancyGrp/TotalAmt066599
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01947
IRS990/OfficeExpensesGrp/ProgramServicesAmt01210
IRS990/OfficeExpensesGrp/TotalAmt03157
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt011513
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IRS990/OtherExpensesGrp/Desc0STORE MERCHANDISE
IRS990/OtherExpensesGrp/Desc1PICKUP & DELIVERIES
IRS990/OtherExpensesGrp/Desc2COMPASSION PROJECT
IRS990/OtherExpensesGrp/Desc3PROGRAM SUPPLIES
IRS990/OtherExpensesGrp/ProgramServicesAmt0157356
IRS990/OtherExpensesGrp/ProgramServicesAmt126371
IRS990/OtherExpensesGrp/ProgramServicesAmt219282
IRS990/OtherExpensesGrp/ProgramServicesAmt311056
IRS990/OtherExpensesGrp/TotalAmt0157356
IRS990/OtherExpensesGrp/TotalAmt126371
IRS990/OtherExpensesGrp/TotalAmt219282
IRS990/OtherExpensesGrp/TotalAmt311056
IRS990/OtherLiabilitiesGrp/EOYAmt01695
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt026228
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0141117
IRS990/OtherSalariesAndWagesGrp/TotalAmt0167345
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03954
IRS990/PayrollTaxesGrp/ProgramServicesAmt016284
IRS990/PayrollTaxesGrp/TotalAmt020238
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt057500
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt050000
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0MAHLIA LINDQUIST
IRS990/PriorPeriodAdjustmentsAmt023802
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0453310
IRS990/ProgramServiceRevenueGrp/Desc0THRIFT STORE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0159155
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0159155
IRS990/ProgSrvcAccomActy2Grp/Desc0LEAP HAS PROVIDED TRANSFORMATIONAL EDUCATION, ENTREPRENEURIAL TRAINING AND MENTORSHIP TO WOMEN DURING AND AFTER PRISON SINCE 2009.LEAP IS THE FIRST OF IT'S KIND RE-ENTRY PROGRAM FOR WOMEN OPERATING THE FLORIDA PRISON SYSTEM, AND THE ONLY ENTREPRENEURSHIP BASED PROGRAM DEDICATED TO PREPARING INCARCERATED WOMEN TO RE-ENTER SOCIETY. LEAP RUNS 2 CLASSES PER YEAR, EACH ONE LASTING 5 MONTHS WITH 250+ HOURS OF COURSEWORK IN ENTREPRENEURSHIP, COGNITIVE BEHAVIORAL THERAPY AND TRAUMA INFORMED SUBSTANCE ABUSE. THE INMATES ARE TAUGHT TO CREATE A SMALL BUSINESS, WITH MODULES THAT INCLUDE MARKETING STRATEGIES, PREPARING A BUSINESS PLAN, DAILY BUSINESS MANAGEMENT AND FINANCING. ADDITIONALLY, PARTICIPANTS RECEIVE EMPLOYABILITY SKILLS CLASSES AND COLLABORATE WITH THE CASE MANAGER TO CREATE EXIT PLANS FOR RE-ENTRY INTO THE COMMUNITY. THIS PORTION OF THE PROGRAM INCLUDES RESUME PREPARATION, JOB SEARCH SKILLS/TIPS, CASE STUDIES AND ROLE PLAYING. ADDITIONALLY, LIFE SKILLS TRAINING SUCH AS PARENTING, GOAL SETTING AND DECISION MAKING ARE CRITICAL COMPONENTS OF THE LEARNING EXPERIENCE. THE CLASSROOM INSTRUCTIONS AND MATERIALS ARE DESIGNED TO FOSTER A SPIRIT OF INDEPENDENCE AND INITIATIVE. LEAP'S TARGET POPULATION IS INCARCERATED WOMEN WITHIN 1 YEAR OF RELEASE. THE PROGRAM IS PRESENTED AT HOMESTEAD CORRECTIONAL INSTITUTION IN FLORIDA CITY, FLORIDA.UPON RELEASE, LEAP CONTINUES TO STRENGTHEN OUR PROGRAMMING BY PROVIDING EMPLOYMENT, HOUSING AND A CONTINUUM OF CARE OF SERVICES FROM PRISON FOR UP TO TWO YEARS POST-RELEASE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0161865
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0459185
IRS990/ProgSrvcAccomActy3Grp/Desc0AFTER RELEASE PROGRAM-TO HELP WITH THE RE-ENTRY PROCESS LEAP EMPLOYS THE SERVICES OF A CASE MANAGER WHO WORKS WITH THE PROGRAM PARTICIPANTS IN ORDER TO ASSESS AND IDENTIFY NEEDS AND RESOURCES NEEDED POST RELEASE. IN THE POST-INCARCERATION PERIOD, THE CASE MANAGER FOLLOWS UP WITH THE LEAP GRADUATES. LEAP PROVIDES SUPPORT IN THE AREA OF HOUSING, BUILDING RELATIONSHIPS, FINANCIAL MANAGEMENT AND LIFE SKILLS. LEAP ALSO ACTS AS A "BRIDGE" TO MULTIPLE RESOURCES AND SERVICE PROVIDERS SUPPORTING RE-ENTRY. THESE INCLUDE, BUT ARE NOT LIMITED TO, HOUSING,TRANSPORTATION,MICRO-FINANCING,CONTINUING EDUCATION,CLOTHING,HEALTH,AND SOCIAL SERVICES. THIS SUPPORT CONTINUES FOR A PERIOD OF AT LEAST ONE YEAR AFTER RELEASE. BEYOND THAT POINT,GRADUATES STAY INVOLVED AS LEAP VOLUNTEERS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt034896
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt010047
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IRS990/PYContributionsGrantsAmt0248367
IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt0137321
IRS990/PYProgramServiceRevenueAmt093935
IRS990/PYRevenuesLessExpensesAmt074203
IRS990/PYSalariesCompEmpBnftPaidAmt0130778
IRS990/PYTotalExpensesAmt0268099
IRS990/PYTotalRevenueAmt0342302
IRS990/QuidProQuoContributionsInd0false
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
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IRS990/ReconcilationRevenueExpnssAmt07934
IRS990/RegularMonitoringEnfrcInd0true
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IRS990/RentalIncomeOrLossGrp/RealAmt010047
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0159155
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0248367
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0200281
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt076145
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt029999
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01013977
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IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt093935
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0283771
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IRS990ScheduleA/Total509Grp/TotalAmt01297748
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01297748
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt016048
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0554
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11141
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SALES TAX PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt0635429
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016048
IRS990ScheduleD/TotalExpensesPerForm990Amt0627495
IRS990ScheduleD/TotalLiabilityAmt01695
IRS990ScheduleD/TotalRevenuePerForm990Amt0635429
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0635429
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0627495
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesEvent1Amt054
IRS990ScheduleG/FundraisingEventInformationGrp/CashPrizesTotalEventsAmt054
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IRS990ScheduleG/FundraisingEventInformationGrp/EntertainmentTotalEventsAmt02935
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0SECOND CHANCE SOIREE
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IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt06094
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt020634
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt020634
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IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt04509
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IRS990ScheduleM/BooksAndPublicationsGrp/NonCashCheckboxInd0X
IRS990ScheduleM/BooksAndPublicationsGrp/NoncashContributionsRptF990Amt0350
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IRS990ScheduleM/ClothingAndHouseholdGoodsGrp/NoncashContributionsRptF990Amt0155955
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS REVIEWS THE FINANCIAL STATEMENTS AND TAX RETURN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DOCUMENT WAS SENT ELECTRONICALLY TO ALL BOARD MEMBERS AND ANY POSSIBLE CONFLICTS ARE REQUIRED TO BE DISCLOSEDPOLICY IS REVIEWED AND DISCUSSED PERIODICALLY BY BOARD MEMBERS AND DISPUTES DISCLOSED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MARKET COMPARISON, REVIEW AND DISCUSSION BY BOARD MEMBERS

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