Civic Intelligence

Life Ring Foundation

990 • Fiscal year 2022 • EIN 27-0927269

Jan 01, 2022 to Dec 31, 2022 • Filed on Jul 26, 2023

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

58th percentile

0.00x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.00x

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

65th percentile

15%

Higher net margin than 65% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

40th percentile

-3.6%

Faster asset growth than 40% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2022

Revenue Growth

86th percentile

117%

Faster revenue growth than 86% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2022

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$216,961

Down $16,672 (-7.1%) from 2020

Net Assets

Down

$216,961

Down $16,672 (-7.1%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin65th percentile

Revenue

Up

$101,106

Up $79,647 (+371%) from 2020

Expenses

Up

$85,757

Up $14,317 (+20%) from 2020

Net Income

Up

$15,349

Up $65,330 (+131%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth40th 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

2022

Assets$216,961
Liabilities$0
Net Assets$216,961
Open 2022 Filing

Operations Trend

Revenue Growth86th 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

2022

Revenue$101,106
Expenses$85,757
Net Income$15,349
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 26, 2023
Return Version
2022v5.0
Gross Receipts
$101,106
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 tax-exempt organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$242,394$201,951▼ $40,443
Cash and Non-Interest-Bearing Accounts$5,580$15,010▲ $9,430
Total Assets$247,974$216,961▼ $31,013
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$247,974$216,961▼ $31,013
Total Net Assets Fund Balance$247,974$216,961▼ $31,013
Total Liabilities and Net Assets / Fund Balance$247,974$216,961▼ $31,013
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Kelly S WoolwinePresident
Richard E WoolwineDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$93,291
Program Service Revenue
$0
Investment Income
$7,815
Other Revenue
$0
All Other Contributions
$93,291
Change in Net Assets
$15,349
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$69,387
Other Expenses$16,370
Total Fundraising Expense$7,200
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$69,387--$69,387
Information Technology-$7,645-$7,645
Advertising--$7,200$7,200
Fees for Service Investment Mgmnt Fees-$959-$959
Office Expenses-$316-$316
Fees for Services Legal-$250-$250
Total Functional Expenses$69,387$9,170$7,200$85,757
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Childrens Cancer Therapy Dev InstBeaverton, OR501c3Hepatablastoma Rese$25,000
Virginia Tech FoundationBlacksburg, VA501c3General Support$15,500
Helping HandsRoanoke, VA501c3Utility Assistance$14,387
Va Western Educational FoundationRoanoke, VA501c3Scholarship$12,000
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
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

Form 990, Page 6, Part VI, Line 2

“Richard woolwine kelly woolwine director president brothers”

Form 990, Page 6, Part VI, Line 8A

“The board meets regularly to discuss organizations that will be funded and conflicts of interest. They also review all financial and tax information.”

Form 990, Page 6, Part VI, Line 8B

“THERE ARE NO COMMITTEES.”

Form 990, Page 6, Part VI, Line 11B

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

Form 990, Page 6, Part VI, Line 19

“The foundation's governing documents and financial statements are available upon request. These documents can be requested by mail, telephone or e- mail.”

Filing and Contact Details

Filer

Filer Name
Life Ring Foundation
EIN
27-0927269
Phone
5409041732
Address
3846 ELECTRIC ROAD, ROANOKE, VA 24018

Signing Officer

Name
Kelly S Woolwine
Title
President
Phone
5409041732
Signed
2023-07-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kelly S Woolwine
Formed
2009
Legal Domicile
Va
Voting Board Members
2
Independent Board Members
1
Employees
0
Volunteers
2

Preparer

Firm
Anderson & Reed Llp
Address
1515 FRANKLIN RD SW, ROANOKE, VA 24016-5206
Preparer
Michael R Bell
Phone
5403444333
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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/ExplanationTxt0RICHARD WOOLWINE KELLY WOOLWINE DIRECTOR PRESIDENT BROTHERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MEETS REGULARLY TO DISCUSS ORGANIZATIONS THAT WILL BE FUNDED AND CONFLICTS OF INTEREST. THEY ALSO REVIEW ALL FINANCIAL AND TAX INFORMATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE NO COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS PROVIDED TO THE PRESIDENT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THESE DOCUMENTS CAN BE REQUESTED BY MAIL, TELEPHONE OR E- MAIL.
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0247974
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0216961
IRS990/TotalProgramServiceExpensesAmt069387
IRS990/TotalRevenueGrp/ExclusionAmt07815
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0101106
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0247974
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0216961
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0WWW.LIFERINGFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KELLY S WOOLWINE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05409041732
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-07-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LIFE RING FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0LIFE
ReturnHeader/Filer/EIN0270927269
ReturnHeader/Filer/PhoneNum05409041732
ReturnHeader/Filer/USAddress/AddressLine1Txt03846 ELECTRIC ROAD
ReturnHeader/Filer/USAddress/CityNm0ROANOKE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd024018
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0540617257
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ANDERSON & REED LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01515 FRANKLIN RD SW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ROANOKE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0240165206
ReturnHeader/PreparerPersonGrp/PhoneNum05403444333
ReturnHeader/PreparerPersonGrp/PreparationDt02023-07-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL R BELL
ReturnHeader/ReturnTs02023-08-09T15:14:03-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KELLY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WOOLWINE
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$216,961
Liabilities
$0
Net assets
$216,961
Revenue
$101,106
Expenses
$85,757
Net income
$15,349
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