Civic Intelligence

Knothole Foundation Knothole Foundation

990 • Fiscal year 2023 • EIN 82-4726399

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 03, 2024

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

73rd percentile

0.39x

Higher debt load relative to assets than 73% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

91st percentile

2.21x

Higher debt load relative to revenue than 91% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

74th percentile

19%

Higher net margin than 74% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

25th percentile

$40,000

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

70th percentile

14%

Faster asset growth than 70% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

79th percentile

31%

Faster revenue growth than 79% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$6,530,822

Up $812,311 (+14%) from 2022

Net Assets

Up

$4,000,270

Up $220,418 (+5.8%) from 2022

Liabilities

Up

$2,530,552

Up $591,893 (+31%) from 2022

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin74th percentile

Revenue

Up

$1,144,364

Up $273,909 (+31%) from 2022

Expenses

Up

$923,946

Up $215,158 (+30%) from 2022

Net Income

Up

$220,418

Up $58,751 (+36%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth70th 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

2023

Assets$6,530,822
Liabilities$2,530,552
Net Assets$4,000,270
Open 2023 Filing

Operations Trend

Revenue Growth79th 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

2023

Revenue$1,144,364
Expenses$923,946
Net Income$220,418
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 3, 2024
Return Version
2023v5.0
Gross Receipts
$1,144,364
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$5,417,233$5,531,643▲ $114,410
Pledges and Grants Receivable$160,000$660,000▲ $500,000
Cash and Non-Interest-Bearing Accounts$138,278$179,395▲ $41,117
Inventories for Sale or Use$3,000$159,784▲ $156,784
Total Assets$5,718,511$6,530,822▲ $812,311
Liabilities
Deferred Revenue-$1,837,517-
Mortgage Notes Payable Secured by Investment Property$1,938,659$645,392▼ $1,293,267
Accounts Payable and Accrued Expenses-$47,643-
Total Liabilities$1,938,659$2,530,552▲ $591,893
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,779,852$4,000,270▲ $220,418
Total Net Assets Fund Balance$3,779,852$4,000,270▲ $220,418
Total Liabilities and Net Assets / Fund Balance$5,718,511$6,530,822▲ $812,311

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,072,331$914,521$5,986,852
Land$443,000-$443,000
Equipment$16,312$24,942$41,254
Compensation and Service Providers
Top Officer Pay25th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Morris MaddenSecretaryPT$40,000$40,000

Board Members and Trustees

NameTitle
Tashia CoeExecutive Co
Tj LewisExecutive Co
Jeff SchaefferOfficer
Alan BarnesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$567,989
Program Service Revenue
$576,375
Investment Income
$0
Other Revenue
$0
All Other Contributions
$405,506
Change in Net Assets
$220,418

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,144,364
Total Revenue per Audited Statements
$1,144,364
Total Revenue per Form 990
$1,144,364
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$923,946
Total Fundraising Expense$34,134
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$268,575--$268,575
Interest$34,090--$34,090
Advertising--$29,623$29,623
Other Expenses$26,156$21,602$4,511$26,156
Insurance$22,525--$22,525
Information Technology$9,907$8,105-$18,012
All Other Expenses$7,265--$7,265
Office Expenses-$4,104-$4,104
Total Functional Expenses$831,447$58,365$34,134$923,946

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$923,946
Total Expenses per Audited Statements$923,946
Total Expenses per Form 990$923,946
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
Audit committee
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

“The 990 is reviewed by the treasurer and board before filing.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Knothole Foundation
EIN
82-4726399
Phone
7049048715
Address
7531 TUCKASEEGEE ROAD, CHARLOTTE, NC 28214

Signing Officer

Name
Alan Barnes
Title
Treasurer
Phone
7049048715
Signed
2024-06-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alan Barnes
Formed
2018
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
8

Preparer

Firm
DAVIES GOLDSTEIN & ASSOCIATES CPA'S
Address
PO BOX 156, MATTHEWS, NC 28106
Preparer
Jeffrey I Goldstein
Phone
7046840555
Supplemental Narrative

Additional Explanations

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

“Programming continued to scale significantly as the number of youth playing affiliated on teams increased as did the number of youth introduced to baseball (1,700), many for the first time, through camps and clinics conducted at the dream fields and in community. Key events were also planned and executed (i.e. 4th annual hbcu camp/showcase; 2nd annual westside story spring break tournament; national night out in partnership with cmpd; back to school event for over 200 students). Education continued to be imbedded in the fabric of baseball-themed activities (as measured by books distribute; of reading hours; % players engaged in reading). Affordable access continued to be an area of focus with over 90% of costs subsidized for player participation on teams and cost per participant hour driven lower.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROGRAMMING CONTINUED TO SCALE SIGNIFICANTLY AS THE NUMBER OF YOUTH PLAYING AFFILIATED ON TEAMS INCREASED AS DID THE NUMBER OF YOUTH INTRODUCED TO BASEBALL (1,700), MANY FOR THE FIRST TIME, THROUGH CAMPS AND CLINICS CONDUCTED AT THE DREAM FIELDS AND IN COMMUNITY. KEY EVENTS WERE ALSO PLANNED AND EXECUTED (I.E. 4TH ANNUAL HBCU CAMP/SHOWCASE; 2ND ANNUAL WESTSIDE STORY SPRING BREAK TOURNAMENT; NATIONAL NIGHT OUT IN PARTNERSHIP WITH CMPD; BACK TO SCHOOL EVENT FOR OVER 200 STUDENTS). EDUCATION CONTINUED TO BE IMBEDDED IN THE FABRIC OF BASEBALL-THEMED ACTIVITIES (AS MEASURED BY BOOKS DISTRIBUTE; OF READING HOURS; % PLAYERS ENGAGED IN READING). AFFORDABLE ACCESS CONTINUED TO BE AN AREA OF FOCUS WITH OVER 90% OF COSTS SUBSIDIZED FOR PLAYER PARTICIPATION ON TEAMS AND COST PER PARTICIPANT HOUR DRIVEN LOWER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS REVIEWED BY THE TREASURER AND BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1CAROLINAS METRO INC
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/ReturnTs02024-06-20T12:28:12-04:00
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ReturnHeader/TaxPeriodBeginDt02023-01-01

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,530,822
Liabilities
$2,530,552
Net assets
$4,000,270
Revenue
$1,144,364
Expenses
$923,946
Net income
$220,418
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