2022-09-12T11:45:13-04:00 2021-12-31 201690699 GLOBAL TAX & BUSINESS SERVICES LLC 1422 CAMDEN HIGHWAY SUMTER SC 29153 990 2021-01-01 471259796 LOUVON FAMILY FOUNDATION LOUV PO BOX 2395 SUMTER SC 29150 JAMES V WILSON SR PRESIDENT 8037731838 2022-05-09 true JAMES WILSON XXX-XX-XXXX VIOLET SMITH EA P00296578 8037748000 2022-09-12 0 00 AAL1 IAL1 2021 2023-04-26 12:10:37Z JAMES V WILSON SR 227014 false X X 2014 SC IS TO ENCOURAGE, SUPPORT AND CONDUCT PROGRAMS AND ACTIVITIES THAT OPEN OPPORTUNITIES AND CREATE PATHWAYS TO IMPROVED QUALITY OF LIFE FOR INDIVIDUALS AND FAMILIES THAT HAVE NOT BEEN ABLE TO FULLY BENEFIT FROM THE AMERICAN DREAM 7 7 0 0 0 198272 0 0 28742 227014 65932 0 0 0 0 41561 107493 119521 514575 630095 0 514575 630095 IS TO ENCOURAGE, SUPPORT AND CONDUCT PROGRAMS AND ACTIVITIES THAT OPEN OPPORTUNITIES AND CREATE PATHWAYS TO IMPROVED QUALITY OF LIFE FOR INDIVIDUALS AND FAMILIES THAT HAVE NOT BEEN ABLE TO FULLY BENEFIT FROM THE AMERICAN DREAM false false 96446 TO IMPROVE QUALITY OF LIFE FOR INDIVIDUALS AND FAMILIES IN SUMTER COUNTY AND THE OUTLYING COUNTIES. TO INCLUDE THE SCHOOLS YWCA CHURCHES AND ENDOWMENTS. 4720 CHRISTMAS FOR 18 FAMLIES IN THE COMMUNITY 831 COATS FOR KIDS IS A PROGRAM GIVES BRAND NEW COATS TO CHILDREN IN THE COMMUNITY 101997 true false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 0 0 true 0 false false false false false false false false false false false false false false false false false false X 7 7 false false false false false false false true true false false false true true true true true true true false SC X JAMES V WILSON SR 8039837448 PO BOX 2395 SUMTER SC 29150 X LC FREDRICK TREASURER 5.00 5.00 X 0 0 0 ANDERSON THOMAS SECRETARY 2.00 2.00 X 0 0 0 LEROY STAGGERS CURRICULUM ADVISOR 2.00 2.00 X 0 0 0 ERIN J WILSONJAMES VICE BOARDPRESIDENT 10.00 10.00 X 0 0 0 JAMES V WILSON SR BOARD CHAIR 10.00 10.00 X 0 0 0 SHELIA J BRADSHAW BOARD MEMBER 2.00 2.00 X 0 0 0 RODNEY RICHBURG BOARD MEMBER 2.00 2.00 X 0 0 0 0 0 0 0 false false false 198272 198272 28742 28742 28742 28742 227014 28742 0 0 X 64617 64617 1315 1315 875 875 75 75 200 200 6853 4722 2131 6593 6593 1453 1453 TAXES 18690 18690 JOHNSON HEATING & AIR HVAC 635 635 JANITORIAL 1200 1200 TELECOMMUNICATIONS 897 897 4090 800 3290 107493 101997 5496 0 52640 180377 10977 10977 30037 424354 15650 450958 408704 514575 630095 0 0 X 514575 630095 514575 630095 514575 630095 X 119521 -4001 X false false X 56912 146437 44814 87315 192875 528353 56912 146437 44814 87315 192875 528353 211842 316511 2000 7200 31722 40922 569275 0.55600 0.81750 X false 18000 18000 401074 401074 5280 15650 -10370 408704 SECURITY DEPOSITS Unrelated business income explanation Part V line 3b THE ENTITY HAS PURCHASED HOMES AND RENOVATED THEM TO PROVIDE HOUSING AT BELOW FAIR MARKET RENTS. THE INCOME GENERATED FROM THESES PROPERITIES WILL BE USED FOR THE TAX EXEMPT PURPOSE OF THE LOUVON FAMILY FOUNDATION. Members or stockholder classes and rights Part VI line 6 NA Form 990 governing body review Part VI line 11 EACH BOARD MEMBER WAS GIVEN A COPY OF THE 2021 990 FOR THEIR REVIEW BEFORE FILING Conflict of interest policy compliance Part VI line 12c ARTICLE VII FOUND IN THE BYLAWS FOR LOU VON FAMILY FOUNDATION DETAILS THEIR POLICY ON CONFLICT OF INTEREST. ANY DIRECTOR,OFFICER OR KEY EMPLOYEE WHO HAS AN INTEREST IN A CONTRACT OR OTHER TRANSACTION PRESENTED TO THE BOARD OF DIRECTORS OF LOUVON FAMILY FOUNDATION INC OR A COMMITTEE THEREOF FOR THE AUTHORIZATION, APPROVAL OR RATIFICAION SHALL MAKE APROMPT AND FULL DISCLOSURE OF HIS INTEREST TO THE BOARD OR EXECUTIVE COMMITTEE PRIOR TO IT ACTING ON SUCH CONTRACT OR TRANSACTION SUCH DISCLOSURE SHALL INCLUDE ANY RELEVANT AND MATERIAL FACT KNOWN TO SUCH PERSON ABOUT THE CONTRACT OR TRANSACTION, WHICH MIGHT REASONABLY BE CONSTRUED TO BE ADVERSE TO THE CORPORATIONS INTEREST. CEO executive director top management comp Part VI line 15a MEMBERS OF THE BOARD OF DIRECTORS OF LOU-VON FAMILY FOUNDATION,INC. SHALL NOT BE COMPENSATED IN ANY CAPACITY OTHER THAN AS A BOARD MEMBER FOR REASONABLE EXPENSES IN THE PERFORMANCE OF PROFESSIONAL SERVICES FOR WHICH COMPENSATION IS NORMALLY PAID. THE BOARD MEMBER SHALL REMOVE HIMSELF OR HERSELF FROM THE VOTING PROCESS WHEN DETERMINATIONS OF COMPENSATION, BENEFITS, ETC. ARE MADE, AND SHALL BE PAID AT A LEVEL OF COMPENSATION/SALARIES REASONABLE FOR THE SERVICES RENDERED. SHOULD THE SERVICES PROVIDED EXTEND BEYOND A THIRTY (30) DAY PERIOD THE BOARD MEMBER SHALL RESIGN FROM THE BOARD OF DIRECTORS. Other officer or key employee compensation Part VI line 15b MEMBERS OF THE BOARD OF DIRECTORS OF LOU-VON FAMILY FOUNDATION INC. SHALL BE COMPENSATED IN ANY CAPACITY OTHER THAN AS A BOARD MEMBER FOR REASONABLE EXPENSES IN THE PERFORMANCE OF PROFESSIONAL SERVICES FOR WHICH COMPENSATION IS NORMALLY PAID. THE BOARD MEMBER SHALL REMOVE HIMSELF OR HERSELF FROM THE VOTING PROCESS WHEN DETERMINATIONS OF COMPENSATION, BENEFITS, ETC. ARE MADE, AND SHALL BE PAID AT A LEVEL OF COMPENSATION/SALARIES REASONABLE FOR THE SERVICES RENDERED. SHOULD THE SERVICES PROVIDED EXTEND BEYOND A THIRTY (30) DAY PERIOD THE BOARD MEMBER SHALL RESIGN FROM THE BOARD OF DIRECTORS. Governing documents etc available to public Part VI line 19 SECTION 6.9. PUBLICATION. NOTICE OF BOARD OF DIRECTORS MEETINGS ALONG WITH OTHER ACTIVITIES OF THE CORPORATION SHALL BE PUBLISHED IN ANY NEWSLETTER OR OTHER DOCUMENT THAT MAY BE PUBLISHED BY THE CORPORATION FOR GENERAL DISTRIBUTIONSECTION 6.10. DULY NOTICED. THE BOARD OF DIRECTORS AND ANY OTHER PERSONS WHO REQUIRE NOTICES OF MEETINGS OF THE BOARD WILL BE DULY NOTIFIED IF NOTICES OF MEETINGS ARE CONTAINED WITHIN REPORTS, NEWSLETTERS, MAGAZINES, MAIL, EMAILS OR ELECTRONIC PUBLICATION IF ADDRESSED OR DELIVERED TO THE ADDRESS ON FILE FOR THAT PERSON WITH THE CORPORATION AT THE TIME OF NOTICE.SECTION 6.11. PUBLIC NOTICE. NOTICE OF THE ANNUAL MEETING OF THE CORPORATION AND OF ANY SPECIAL MEETINGS TO WHICH THE PUBLIC IS TO BE INVITED SHALL BE COMMUNICATED BY A NEWSPAPER GENERAL CIRCULATION. Cessation of or significant change to any program service Part III line 3 DUE TO COVID WE CONDUCTED ALOT OF OUR BUSNESS VIRTUALLY INSTEAD OF IN PERSON. Explanation of why Form 720 was not filed Part V Line 14b NA Explanation of other changes in net assets or fund balances Part XI line 9 THE CHANGE IN NET ASSETS ARE DUE TO THE SALE OF THE 5200 MIDDLETON STREET PROPERTY. IN LINE WITH THE TAX EXEMPT PURPOSE OF THE LVFF,THE PROPERTY WAS SOLD TO A FAMILY THAT HAS NOT BEEN ABLE TO FULLY BENEFIT FROM THE AMERICAN DREAM, WHICH IS TO BE A HOME OWNER IN AMERICA. List of other expenses Part IX line 24e Lawn Maintenance 800.00Rent Parking Utilities 3290.00 Part XI response or note to any line in Part XI Adjustment for Earnest Money for Sale of Asset 5200 Middleton Street