Civic Intelligence

Lace Foundation C/O Daniel Lace

990 • Fiscal year 2020 • EIN 81-3846692

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 24, 2021

Organization ProfileTHELACEFOUNDATION.ORG
5n445 Billy Burns Rd PO Box 449Wayne, IL 60184

(630) 513-1608

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

77th percentile

28%

Higher net margin than 77% 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

56th percentile

8.1%

Faster asset growth than 56% of similar nonprofits.

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

Revenue Growth

53rd percentile

-10%

Faster revenue growth than 53% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$145,402

Up $10,940 (+8.1%) from 2019

Net Assets

Up

$145,402

Up $10,940 (+8.1%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin77th percentile

Revenue

Down

$11,055

Down $1,268 (-10%) from 2019

Expenses

Up

$7,953

Up $69 (+0.9%) from 2019

Net Income

Down

$3,102

Down $1,337 (-30%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth56th percentile

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

$300K$200K$100K$0Assets 2016: $80,692Liabilities 2016: $0Net Assets 2016: $80,6922016Assets 2017: $107,216Liabilities 2017: $0Net Assets 2017: $107,2162017Assets 2018: $114,136Liabilities 2018: $0Net Assets 2018: $114,1362018Assets 2019: $134,462Liabilities 2019: $0Net Assets 2019: $134,4622019Assets 2020: $145,402Liabilities 2020: $0Net Assets 2020: $145,4022020Assets 2021: $157,228Liabilities 2021: $0Net Assets 2021: $157,2282021Assets 2022: $133,277Liabilities 2022: $0Net Assets 2022: $133,2772022Assets 2023: $158,800Liabilities 2023: $0Net Assets 2023: $158,8002023Assets 2025: $220,440Liabilities 2025: $0Net Assets 2025: $220,4402025

Highlighted filing

2020

Assets$145,402
Liabilities$0
Net Assets$145,402
Open 2020 Filing

Operations Trend

Revenue Growth53rd percentile

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

$100K$50K$0-$50KRevenue 2016: $98,031Expenses 2016: $17,339Net Income 2016: $80,6922016Revenue 2017: $41,840Expenses 2017: $21,062Net Income 2017: $20,7782017Revenue 2018: $26,021Expenses 2018: $7,834Net Income 2018: $18,1872018Revenue 2019: $12,323Expenses 2019: $7,884Net Income 2019: $4,4392019Revenue 2020: $11,055Expenses 2020: $7,953Net Income 2020: $3,1022020Revenue 2021: $17,559Expenses 2021: $10,057Net Income 2021: $7,5022021Revenue 2022: $8,635Expenses 2022: $12,537Net Income 2022: -$3,9022022Revenue 2023: $36,894Expenses 2023: $23,633Net Income 2023: $13,2612023Revenue 2025: $19,340Expenses 2025: $6,211Net Income 2025: $13,1292025

Highlighted filing

2020

Revenue$11,055
Expenses$7,953
Net Income$3,102
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 24, 2021
Return Version
2020v4.0
Gross Receipts
$13,673
Mission and Program Overview

Mission

To operate as an irs 501(c)(3) not-for-profit charitable organization identifying and supporting other i.r.s. 501(c)(3) not-for-profit organiations thet provide programs to alleviate suffering and poverty by taking aim at its root cause, to educate young people in careers, and to respond to specific community needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$117,503$130,214▲ $12,711
Cash and Non-Interest-Bearing Accounts$16,959$15,188▼ $1,771
Total Assets$134,462$145,402▲ $10,940
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$134,462$145,402▲ $10,940
Total Net Assets Fund Balance$134,462$145,402▲ $10,940
Total Liabilities and Net Assets / Fund Balance$134,462$145,402▲ $10,940
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Daniel LacePresident
Mary LaceSecretary
John LaceTreasurer
Bonnie LaceVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$6,000
Program Service Revenue
$0
Investment Income
$5,055
Other Revenue
$0
All Other Contributions
$6,000
Change in Net Assets
$3,102
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$5,784
Other Expenses$2,169
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$5,784--$5,784
Fees for Service Investment Mgmnt Fees-$918-$918
Fees for Services Accounting-$750-$750
Fees for Services Legal-$450-$450
Fees for Services Other-$51-$51
Total Functional Expenses$5,784$2,169$0$7,953
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
Annual disclosure for covered persons
Yes
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
Yes
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

“Daniel lace president husband john lace treasurer son mary lace secretary daughter bonnie lace vice pres. Wife”

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

“Form 990 reviewed and approved by board”

Form 990, Page 6, Part VI, Line 12C

“Compliance reviewed by board”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Lace Foundation
EIN
81-3846692
Phone
6305131608
Address
5N445 BILLY BURNS RD PO BOX 449, WAYNE, IL 60184

Signing Officer

Name
Daniel Lace
Title
President
Phone
6305131608
Signed
2021-03-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Lace
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
John J Russell CPA
Address
800 E NORTHWEST HWY STE 510, PALATINE, IL 60074
Preparer
John J Russell CPA
Phone
8473594300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To operate as an irs 501(c)(3) not-for-profit charitable organization identifying and supporting other i.r.s. 501(c)(3) not-for-profit organiations thet provide programs to alleviate suffering and poverty by taking aim at its root cause, to educate young people in careers, and to respond to specific community needs.”

Form 990, Page 2, Part III, Line 4D

“GRANTS”

Raw XML Appendix298 raw XML fields

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/ExplanationTxt1GRANTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DANIEL LACE PRESIDENT HUSBAND JOHN LACE TREASURER SON MARY LACE SECRETARY DAUGHTER BONNIE LACE VICE PRES. WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 REVIEWED AND APPROVED BY BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPLIANCE REVIEWED BY BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JOHN J RUSSELL CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0800 E NORTHWEST HWY STE 510
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PALATINE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060074
ReturnHeader/PreparerPersonGrp/PhoneNum08473594300
ReturnHeader/PreparerPersonGrp/PreparationDt02021-03-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN J RUSSELL CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-04-19T11:38:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DANIEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LACE
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$145,402
Liabilities
$0
Net assets
$145,402
Revenue
$11,055
Expenses
$7,953
Net income
$3,102
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.20$0.00$2.20$0.19$0.06$0.13
2023Summary only. Only limited summary data is available for this year.$1.59$0.00$1.59$0.37$0.24$0.13
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.33$0.00$1.33$0.09$0.13$0.04
2021Summary only. Only limited summary data is available for this year.$1.57$0.00$1.57$0.18$0.10$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$0.11$0.08$0.03
2019Summary only. Only limited summary data is available for this year.$1.34$0.00$1.34$0.12$0.08$0.04
2018Summary only. Only limited summary data is available for this year.$1.14$0.00$1.14$0.26$0.08$0.18
2017Summary only. Only limited summary data is available for this year.$1.07$0.00$1.07$0.42$0.21$0.21
2016Summary only. Only limited summary data is available for this year.$0.81$0.00$0.81$0.98$0.17$0.81