Civic Intelligence

Life Ring Foundation

990 • Fiscal year 2020 • EIN 27-0927269

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

Organization Profilewww.liferingfoundation.org
3846 Electric RoadRoanoke, VA 24018

(540) 904-1732

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

4th percentile

-233%

Higher net margin than 4% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

21st percentile

-18%

Faster asset growth than 21% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

19th percentile

-55%

Faster revenue growth than 19% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets55th percentile

Assets

Down

$233,633

Down $49,981 (-18%) from 2019

Net Assets

Down

$233,633

Down $49,981 (-18%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin4th percentile

Revenue

Down

$21,459

Down $26,510 (-55%) from 2019

Expenses

Up

$71,440

Up $7,241 (+11%) from 2019

Net Income

Down

-$49,981

Down $33,751 (-208%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2012: $31,090Liabilities 2012: $0Net Assets 2012: $31,0902012Assets 2013: $28,217Liabilities 2013: $0Net Assets 2013: $28,2172013Assets 2016: $273,545Liabilities 2016: $0Net Assets 2016: $273,5452016Assets 2017: $417,231Liabilities 2017: $0Net Assets 2017: $417,2312017Assets 2018: $271,789Liabilities 2018: $0Net Assets 2018: $271,7892018Assets 2019: $283,614Liabilities 2019: $0Net Assets 2019: $283,6142019Assets 2020: $233,633Liabilities 2020: $0Net Assets 2020: $233,6332020Assets 2022: $216,961Liabilities 2022: $0Net Assets 2022: $216,9612022Assets 2023: $308,491Liabilities 2023: $0Net Assets 2023: $308,4912023Assets 2024: $1,859,132Liabilities 2024: $2,083Net Assets 2024: $1,857,0492024

Highlighted filing

2020

Assets$233,633
Liabilities$0
Net Assets$233,633
Open 2020 Filing

Operations Trend

Revenue Growth19th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2012: $230,2412012Revenue 2013: $329,121Expenses 2013: $331,212Net Income 2013: -$2,0912013Revenue 2016: $120,577Expenses 2016: $213,312Net Income 2016: -$92,7352016Revenue 2017: $333,027Expenses 2017: $201,665Net Income 2017: $131,3622017Revenue 2018: $16,066Expenses 2018: $142,656Net Income 2018: -$126,5902018Revenue 2019: $47,969Expenses 2019: $64,199Net Income 2019: -$16,2302019Revenue 2020: $21,459Expenses 2020: $71,440Net Income 2020: -$49,9812020Revenue 2022: $101,106Expenses 2022: $85,757Net Income 2022: $15,3492022Revenue 2023: $692,792Expenses 2023: $608,076Net Income 2023: $84,7162023Revenue 2024: $1,812,983Expenses 2024: $342,119Net Income 2024: $1,470,8642024

Highlighted filing

2020

Revenue$21,459
Expenses$71,440
Net Income-$49,981
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.0
Gross Receipts
$47,823
Mission and Program Overview

Mission

The Foundation was created to provide charitable and emergency assistance to individuals and tax-exempt organizations. The foundation intends to fund scholarships for individuals to attend Virginia Tech and possibily other higher learning institutions.

The Foundation was created to provide charitable and emergency assistance to individuals and taxexempt organizations

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$283,614$233,633▼ $49,981
Investments in Publicly Traded Securities$202,685$204,361▲ $1,676
Savings and Temporary Cash Investments$35,431$27,682▼ $7,749
Cash and Non-Interest-Bearing Accounts$45,498$1,590▼ $43,908
Total Assets$283,614$233,633▼ $49,981
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$283,614$233,633▼ $49,981
Total Liabilities and Net Assets / Fund Balance$283,614$233,633▼ $49,981
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Kelly S WoolwinePresident
Richard E WoolwineDirector
Sarah F WilsonExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$17,338
Program Service Revenue
$0
Investment Income
$4,121
Other Revenue
$0
All Other Contributions
$17,338
Change in Net Assets
$-49,981
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$59,630
Other Expenses$11,810
Total Fundraising Expense$7,200
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$59,630--$59,630
Advertising--$7,200$7,200
Information Technology-$3,000-$3,000
Fees for Services Accounting-$1,180-$1,180
Office Expenses-$217-$217
Fees for Services Legal-$213-$213
Total Functional Expenses$59,630$4,610$7,200$71,440
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Cincinnati Children's HospCincinnati, OH501c3Heptoblastoma research$30,000
Children's Miracle NetworkRoanoke, VA501c3Cure Kids Cancer Radiothon$10,000
Va Tech FoundationBlacksburg, VA501c3General support$5,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 2

“Kelly and Richard Woolwine, both directors, are brothers.”

Part VI Line 8A

“The Board meets regularly to discuss organizations that will be funded and”

Part VI Line 8A

“conflicts of interest. They also review all financial and tax information.”

Part VI Line 8B

“There are no committees.”

Part VI Line 11B

“Form 990 is provided to the President prior to filing.”

Part VI Line 19

“The Foundation's governing documents and financial statements are available”

Part VI Line 19

“upon request. These documents can be requested by mail, telephone or email.”

Filing and Contact Details

Filer

Filer Name
Life Ring Foundation
EIN
27-0927269
In Care Of
% Kelly S Woolwine
Phone
5409041732
Address
3846 Electric Road, Roanoke, VA 24018

Signing Officer

Name
Kelly S Woolwine
Title
President
Phone
5409041732
Signed
2021-11-12

Organization Details

Principal Officer
Kelly S Woolwine
Formed
2009
Legal Domicile
Va
Voting Board Members
2
Independent Board Members
1
Employees
0
Volunteers
2
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Kelly and Richard Woolwine, both directors, are brothers.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board meets regularly to discuss organizations that will be funded and
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2conflicts of interest. They also review all financial and tax information.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3There are no committees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Form 990 is provided to the President prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Foundation's governing documents and financial statements are available
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6upon request. These documents can be requested by mail, telephone or email.
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt021459
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0283614
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0233633
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 18168
IRS990/USAddress/CityNm0Roanoke
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd024014
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0www.liferingfoundation.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd01
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0KELLY S WOOLWINE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum05409041732
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Life Ring Foundation
ReturnHeader/Filer/BusinessNameControlTxt0LIFE
ReturnHeader/Filer/EIN0270927269
ReturnHeader/Filer/InCareOfNm0% Kelly S Woolwine
ReturnHeader/Filer/PhoneNum05409041732
ReturnHeader/Filer/USAddress/AddressLine1Txt03846 Electric Road
ReturnHeader/Filer/USAddress/CityNm0Roanoke
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd024018
ReturnHeader/ReturnTs02021-11-12T09:43:04-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KELLY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WOOLWINE
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$233,633
Liabilities
$0
Net assets
$233,633
Revenue
$21,459
Expenses
$71,440
Net income
-$49,981
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.86$0.00$1.86$1.81$0.34$1.47
2023Detailed filing. Detailed filing data is available for this year.$0.31$0.00$0.31$0.69$0.61$0.08
2022Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$0.10$0.09$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.23$0.00$0.23$0.02$0.07$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.28$0.00$0.28$0.05$0.06$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.02$0.14$0.13
2017Detailed filing. Detailed filing data is available for this year.$0.42$0.00$0.42$0.33$0.20$0.13
2016Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.12$0.21$0.09
2013Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.33$0.33$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.03$0.00$0.03$0.23