Laundrycares Foundation
- Assets
- $196.4k
- Revenue
- $428.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Oakbrook Terrace, IL
- Founding
- 11/2006
- Data as of
- 12/2023
- EIN
- 20-4504242
Organization Overview
Laundrycares Foundation is located in Oakbrook Terrace, IL. The organization was established in 2006. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laundrycares Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Laundrycares Foundation generated $428.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.5% each year . All expenses for the organization totaled $540.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSES OF THE ORGANIZATION ARE: (I) TO COORDINATE THE DISTRIBUTION OF DONATED LAUNDRY SUPPLIES FOR THE PURPOSE OF PROVIDING LAUNDRY SERVICES TO ORGANIZATIONS, FAMILIES AND INDIVIDUALS IN NEED; AND (II) TO OFFER FREE LAUNDRY DAY AT COIN LAUNDRY FACILITIES IN SELECT CITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREE LAUNDRY DAY - PROVIDED FREE LAUNDRY SERVICES TO NEEDY FAMILIES AT LOCAL LAUNDROMATS ACROSS THE COUNTRY. HUNDREDS OF LOADS OF LAUNDRY ARE COMPLETED DURING EACH DAY. THE EVENTS ALSO INCLUDED ACCESS TO CHILDREN'S BOOKS AND LITERACY RESOURCES. ADDITONALLY, THE ORGANIZATION PROVIDING CONSULTING SERVICES TO OTHER WISHING TO SET UP FREE LAUNDRY DAYS TO ASSIST NEEDY FAMILIES WITHIN THEIR CONSTITUENCY.
THE LAUNDRYCARES FOUNDATION, AND THE CLINTON FOUNDATION'S TOO SMALL TO FAIL PROGRAM, WORKED WITH LAKESHORE LEARNING AND SCHOLASTIC TO OFFER FAMILY READ, PLAY & LEARN KITS. THESE ARE UNIQUELY DESIGNED TO CREATE SAFE, FUN, AND ENGAGING PLACES FOR CHILDREN AND FAMILIES IN LAUNDROMATS. "FAMILY READ, PLAY & LEARN" SPACES ARE EQUIPPED WITH LITERACY-RICH MATERIALS TO SUPPORT CHILDREN'S EARLY BRAIN AND LANGUAGE DEVELOPMENT, AND ARE A MEANINGFUL WAY TO SERVE COMMUNITIES AND CUSTOMERS. THE FOUNDATION SELLS THESE KITS TO LAUNDROMATS. EXPENSES ARE NETTED AGAINST REVENUE IN PART VIII.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Grell Chairman | OfficerTrustee | 0.5 | $0 |
James Whitmore Immediate Past Chair | OfficerTrustee | 0.5 | $0 |
Brian Holland Vice President | OfficerTrustee | 0.5 | $0 |
Dennis Diaz Treasurer | OfficerTrustee | 0.5 | $0 |
Paul Hansen Director | Trustee | 0.5 | $0 |
Ted Ristaino Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $366,332 |
| Noncash contributions included in lines 1a–1f | $12,573 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $366,332 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $62,064 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $428,396 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $131,078 |
| Compensation of current officers, directors, key employees. | $43,693 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,792 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,717 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,570 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $125,873 |
| Advertising and promotion | $720 |
| Office expenses | $11,729 |
| Information technology | $35,060 |
| Royalties | $0 |
| Occupancy | $1,860 |
| Travel | $17,555 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,053 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $540,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,428 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $139,000 |
| Accounts receivable, net | $18,999 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$11,029 |
| Total assets | $196,398 |
| Accounts payable and accrued expenses | $38,600 |
| Grants payable | $0 |
| Deferred revenue | $38,226 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $76,826 |
| Net assets without donor restrictions | -$78,139 |
| Net assets with donor restrictions | $197,711 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $196,398 |