Civic Intelligence

Knothole Foundation Knothole Foundation

990 • Fiscal year 2020 • EIN 82-4726399

Jan 01, 2020 to Dec 31, 2020 • Filed on May 20, 2022

Organization ProfileWWW.KNOTHOLECAROLINAS.ORG
7531 Tuckaseegee RoadCharlotte, NC 28214

(704) 904-8715

Siviq Scores

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

Liabilities / Assets

70th percentile

0.41x

Higher debt load relative to assets than 70% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

90th percentile

2.73x

Higher debt load relative to revenue than 90% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

94th percentile

68%

Higher net margin than 94% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

24th percentile

$35,385

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

77th percentile

23%

Faster asset growth than 77% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

94th percentile

103%

Faster revenue growth than 94% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$5,007,868

Up $933,003 (+23%) from 2019

Net Assets

Up

$2,976,380

Up $545,444 (+22%) from 2019

Liabilities

Up

$2,031,488

Up $387,559 (+24%) from 2019

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin94th percentile

Revenue

Up

$745,289

Up $377,572 (+103%) from 2019

Expenses

Down

$236,932

Down $1,699,870 (-88%) from 2019

Net Income

Up

$508,357

Up $2,077,442 (+132%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2018: $582,715Liabilities 2018: $0Net Assets 2018: $582,7152018Assets 2019: $4,074,865Liabilities 2019: $1,643,929Net Assets 2019: $2,430,9362019Assets 2020: $5,007,868Liabilities 2020: $2,031,488Net Assets 2020: $2,976,3802020Assets 2021: $5,600,052Liabilities 2021: $2,010,954Net Assets 2021: $3,589,0982021Assets 2022: $5,718,511Liabilities 2022: $1,938,659Net Assets 2022: $3,779,8522022Assets 2023: $6,530,822Liabilities 2023: $2,530,552Net Assets 2023: $4,000,2702023Assets 2024: $6,398,033Liabilities 2024: $2,265,440Net Assets 2024: $4,132,5932024Assets 2025: $6,772,766Liabilities 2025: $2,190,447Net Assets 2025: $4,582,3192025

Highlighted filing

2020

Assets$5,007,868
Liabilities$2,031,488
Net Assets$2,976,380
Open 2020 Filing

Operations Trend

Revenue Growth94th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2018: $141,100Expenses 2018: $385Net Income 2018: $140,7152018Revenue 2019: $367,717Expenses 2019: $1,936,802Net Income 2019: -$1,569,0852019Revenue 2020: $745,289Expenses 2020: $236,932Net Income 2020: $508,3572020Revenue 2021: $1,057,411Expenses 2021: $444,693Net Income 2021: $612,7182021Revenue 2022: $870,455Expenses 2022: $708,788Net Income 2022: $161,6672022Revenue 2023: $1,144,364Expenses 2023: $923,946Net Income 2023: $220,4182023Revenue 2024: $1,198,252Expenses 2024: $1,065,929Net Income 2024: $132,3232024Revenue 2025: $998,496Expenses 2025: $548,770Net Income 2025: $449,7262025

Highlighted filing

2020

Revenue$745,289
Expenses$236,932
Net Income$508,357
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 20, 2022
Return Version
2020v4.0
Gross Receipts
$810,848
Mission and Program Overview

Mission

Knothole's mission is to promote the sport of baseball in underserved communities and to create life opportunities for underserved youth by providing access to facilities, education, health and wellness protocols.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,335,576$4,452,765▲ $1,117,189
Pledges and Grants Receivable$395,000$410,400▲ $15,400
Cash and Non-Interest-Bearing Accounts$314,289$114,703▼ $199,586
Total Assets$4,074,865$5,007,868▲ $933,003
Other Assets Total$30,000$30,000→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,643,929$2,031,488▲ $387,559
Total Liabilities$1,643,929$2,031,488▲ $387,559
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,430,936$2,976,380▲ $545,444
Total Net Assets Fund Balance$2,430,936$2,976,380▲ $545,444
Total Liabilities and Net Assets / Fund Balance$4,074,865$5,007,868▲ $933,003

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,552,421$114,602$2,667,023
Leasehold Improvements$1,457,344$76,703$1,534,047
Land$443,000-$443,000
Compensation and Service Providers
Top Officer Pay24th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Morris MaddenSecretaryPT$35,385$35,385

Board Members and Trustees

NameTitle
Jeff SchaefferOfficer
Alan BarnesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$662,244
Program Service Revenue
$75,587
Investment Income
$0
Other Revenue
$7,458
All Other Contributions
$662,244
Change in Net Assets
$508,357
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$236,932
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$143,838--$143,838
Interest$40,642--$40,642
Occupancy$23,367--$23,367
Advertising$18,777--$18,777
Insurance$5,338--$5,338
Information Technology-$4,970-$4,970
Total Functional Expenses$231,962$4,970$0$236,932
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$17,500
Fundraising Direct Expenses$1,423
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Celebrity Softb$17,500$17,500$1,423$16,077
Total Events$17,500$17,500$1,423$16,077
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
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
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 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
The Knothole Foundation Inc
EIN
82-4726399
Address
7531 TUCKASEEGEE ROAD, CHARLOTTE, NC 28214

Signing Officer

Name
Alan Barnes
Title
Treasurer
Phone
7049048715
Signed
2022-05-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeff Schaeffer
Formed
2018
Legal Domicile
Nc
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
10

Preparer

Firm
Welker Mojsej & Delvecchio Cpas LLC
Address
1200 JEFFERSON RD STE 300, ROCHESTER, NY 14623-3158
Preparer
Anthony Delvecchio CPA
Phone
5852921041
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Knothole's mission is to promote the sport of baseball in underserved communities and to create life opportunities for underserved youth by providing access to facilities, education, health and wellness protocols.”

Form 990, Page 2, Part III, Line 2

“Part vi 8a - the knothole board formallly met serveral times in 2020 and informally on numerous occasions. Meeting results were documented via formalized board meeting minutes as well as informally by capturing decisions and actions in follow up email part vi 11a-the 990 filing was discussed with the board in advance and then distributed to the board for revew prior to final submission part vi 19 - all relevent corporate documents (i.e. 990 filing, 1023 filing, financial statements, business plan) available upon request. No known conflicts of interests exists, but a formalized policy has not yet been finalized. Part vii a 1a. - morris madden (knothole foundation secretary) was compensated 35,385 by the carolinas metro inc. (a related non-profit entity) part iii-2 in 2020, we initiated execution of camps and clinics, and community events with related lifed skills and education support. While this was impacted by covid related precautions, this was new in 2020 as in previous years, activities were focused on the development of the filed complex part iii - line 4d - other program services expense of 143,838 is depreciation on the field complex.”

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

“Completed construction of field which is utilized to pursue organizations mission”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 480”

Raw XML Appendix367 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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IRS990/ProgSrvcAccomActy2Grp/Desc0WE INITIATED EXECUTION OF CAMPS AND CLINICS, AND COMMUNITY EVENTS WITH RELATED LIFE COACHING SKILLS AND EDUCATION SUPPORT. THE VOLUME OF PROGRAMMING AND RELATED VOUNTEER AND OTHER COMMUNITY RESOURCES WERE SIGNIFICANTLY IMPACTED BY COVID, HOWEVER WE DID ESTABLISH THE FOUNDATIONAL BASELINE. ONE OF THE KEY ACTIVITIES IN SUPPORT OF THIS IS THE MAINTENANCE AND OPERATIONS OF THE FIELDS AND FACILITY, INCLUDING THE EDUCATION CENTER.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0KNOTHOLE'S MISSION IS TO PROMOTE THE SPORT OF BASEBALL IN UNDERSERVED COMMUNITIES AND TO CREATE LIFE OPPORTUNITIES FOR UNDERSERVED YOUTH BY PROVIDING ACCESS TO FACILITIES, EDUCATION, HEALTH AND WELLNESS PROTOCOLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PART VI 8A - THE KNOTHOLE BOARD FORMALLLY MET SERVERAL TIMES IN 2020 AND INFORMALLY ON NUMEROUS OCCASIONS. MEETING RESULTS WERE DOCUMENTED VIA FORMALIZED BOARD MEETING MINUTES AS WELL AS INFORMALLY BY CAPTURING DECISIONS AND ACTIONS IN FOLLOW UP EMAIL PART VI 11A-THE 990 FILING WAS DISCUSSED WITH THE BOARD IN ADVANCE AND THEN DISTRIBUTED TO THE BOARD FOR REVEW PRIOR TO FINAL SUBMISSION PART VI 19 - ALL RELEVENT CORPORATE DOCUMENTS (I.E. 990 FILING, 1023 FILING, FINANCIAL STATEMENTS, BUSINESS PLAN) AVAILABLE UPON REQUEST. NO KNOWN CONFLICTS OF INTERESTS EXISTS, BUT A FORMALIZED POLICY HAS NOT YET BEEN FINALIZED. PART VII A 1A. - MORRIS MADDEN (KNOTHOLE FOUNDATION SECRETARY) WAS COMPENSATED 35,385 BY THE CAROLINAS METRO INC. (A RELATED NON-PROFIT ENTITY) PART III-2 IN 2020, WE INITIATED EXECUTION OF CAMPS AND CLINICS, AND COMMUNITY EVENTS WITH RELATED LIFED SKILLS AND EDUCATION SUPPORT. WHILE THIS WAS IMPACTED BY COVID RELATED PRECAUTIONS, THIS WAS NEW IN 2020 AS IN PREVIOUS YEARS, ACTIVITIES WERE FOCUSED ON THE DEVELOPMENT OF THE FILED COMPLEX PART III - LINE 4D - OTHER PROGRAM SERVICES EXPENSE OF 143,838 IS DEPRECIATION ON THE FIELD COMPLEX.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPLETED CONSTRUCTION OF FIELD WHICH IS UTILIZED TO PURSUE ORGANIZATIONS MISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOOK / TAX DEPRECIATION DIFFERENCE 480
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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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
$5,007,868
Liabilities
$2,031,488
Net assets
$2,976,380
Revenue
$745,289
Expenses
$236,932
Net income
$508,357
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.77$2.19$4.58$1.00$0.55$0.45
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.40$2.27$4.13$1.20$1.07$0.13
2023Detailed filing. Detailed filing data is available for this year.$6.53$2.53$4.00$1.14$0.92$0.22
2022Detailed filing. Detailed filing data is available for this year.$5.72$1.94$3.78$0.87$0.71$0.16
2021Detailed filing. Detailed filing data is available for this year.$5.60$2.01$3.59$1.06$0.44$0.61
2020Detailed filing. Detailed filing data is available for this year.$5.01$2.03$2.98$0.75$0.24$0.51
2019Summary only. Only limited summary data is available for this year.$4.07$1.64$2.43$0.37$1.94$1.57
2018Summary only. Only limited summary data is available for this year.$0.58$0.00$0.58$0.14$0.00$0.14