The J127 Foundation
- Assets
- $27.6m
- Revenue
- -$1.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Fairfax, VA
- Founding
- 02/2005
- Data as of
- 06/2021
- EIN
- 45-0523312
Organization Overview
The J127 Foundation is located in Fairfax, VA. The organization was established in 2005. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. J127 Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE J127 FOUNDATION SERVES AS A SUPPORTING ORGANIZATION TO THE J127 EDUCATION FOUNDATION. THIS SUPPORT INCLUDES MAKING CONTRIBUTIONS TO THE ORGANIZATION, AS NEEDED, TO SUPPORT ITS MISSION, AND GUARANTEEING DEBT OF THE SUPPORTED ORGANIZATION AS NEEDED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION FUNDED CERTAIN PROFESSIONAL FEES AND ADMINISTRATIVE EXPENSES OF THE SUPPORTED ORGANIZATION DURING JULY 1, 2020 TO JUNE 30, 2021. THE ASSETS OF THE J127 FOUNDATION PROVIDE A GUARANTEE FOR OUTSTANDING BANK LOANS HELD BY THE J127 EDUCATION FOUNDATION. THE J127 FOUNDATION PROVIDES FUNDING FOR UNBUDGETED ONE TIME CAPITAL EXPENDITURES AND EVENTS BY THE J127 EDUCATION FOUNDATION TO KEEP MISSION OPERATIONS FROM BEING HINDERED.
THE FOUNDATION PROVIDES FUNDING TO ASSIST IN THE OPERATIONS OF A CONFERENCE AND RETREAT LEADERSHIP CENTER IN MARYLAND.
THE FOUNDATION FUNDED CERTAIN PROFESSIONAL FEES AND ADMINISTRATIVE EXPENSES OF THE SUPPORTED ORGANIZATION DURING JULY 1, 2020 TO JUNE 30, 2021. THE ASSETS OF THE J127 FOUNDATION PROVIDE A GUARANTEE FOR OUTSTANDING BANK LOANS HELD BY THE J127 EDUCATION FOUNDATION. THE J127 FOUNDATION PROVIDES FUNDING FOR UNBUDGETED ONE TIME CAPITAL EXPENDITURES AND EVENTS BY THE J127 EDUCATION FOUNDATION TO KEEP MISSION OPERATIONS FROM BEING HINDERED.
THE FOUNDATION PROVIDES FUNDING TO ASSIST IN THE OPERATIONS OF A CONFERENCE AND RETREAT LEADERSHIP CENTER IN MARYLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Klaassen Chairman | OfficerTrustee | 2 | $0 |
Teresa Klaassen Vice Chairman | OfficerTrustee | 1 | $0 |
Stephen Roberson Director Of Finance | Officer | 5 | $0 |
Christin Soly Secretary (non Voting) | Officer | 10 | $0 |
Leslie Hortum Director | Trustee | 0.5 | $0 |
Amy Feather 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,932 |
| Investment income | $611,815 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,388,896 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$1,770,149 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $83,883 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $928 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $520 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $114,656 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,791 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $53,378 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,178 |
| Insurance | $10,951 |
| All other expenses | $0 |
| Total functional expenses | $372,966 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $302,814 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,300,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $19,656,545 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,335,199 |
| Total assets | $27,594,558 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $5,334,986 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,333,617 |
| Total liabilities | $17,668,603 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $9,925,955 |
| Total liabilities and net assets/fund balances | $27,594,558 |
Grants Awarded
Over the last fiscal year, The J127 Foundation has awarded $36,761 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Fairfax, VA PURPOSE: MATCHING GRANT FOR PARENT TEACHER ORGANIZATION | $21,778 |
Washington, DC PURPOSE: GENERAL OPERATIONS | $14,983 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
King Farm Presbyterian Retirement Rockville, MD | $301,432,870 | $34,783,503 |
Arbor Acres United Methodist Retirement Community Inc Winstonsalem, NC | $155,220,604 | $40,394,713 |
Chapel Hill Residential Retirement Center Inc Chapel Hill, NC | $120,640,930 | $31,949,437 |
Stoddard Baptist Global Care Washington, DC | $21,239,255 | $34,652,539 |
Carolina Village Inc Hendersonville, NC | $124,169,436 | $34,185,742 |
Galloway Ridge Inc Pittsboro, NC | $130,866,786 | $36,150,184 |
Kenton Housing Inc Latonia, KY | $68,380,829 | $31,745,821 |
Village At Orchard Ridge Inc Frederick, MD | $155,766,299 | $22,895,299 |
Virginia Lutheran Homes Inc Roanoke, VA | $83,707,371 | $28,580,430 |
The Lutheran Village At Millers Grant Inc Westminster, MD | $146,336,066 | $23,586,793 |
Mercy Ridge Inc Timonium, MD | $148,105,442 | $23,349,399 |
Maryland Masonic Homes Ltd Cockeysville, MD | $7,522,127 | $24,357,243 |