2024-11-13T09:25:14-06:00 2023-12-31 991856619 GRANT THORNTON ADVISORS LLC 171 N CLARK ST STE 200 CHICAGO IL 60601 990 2023-01-01 721461140 LIFEBOAT INC LIFE 3187420711 1 CAESARS PALACE DRIVE LAS VEGAS NV 89109 RICARDO CORNEJO TREASURER 3187420711 2024-11-13 1 1 BRIDGET T ROCHE P00666837 3128560200 2023 2024-10-15 13:58:12Z CAESARS CARES LISA MURRAY 1 CAESARS PALACE DRIVE LAS VEGAS NV 89109 56434 0 X CAESARS.COM/CARES X 1999 LA EMERGENCY RELIEF FUND FOR CAESARS EMPLOYEES AND THEIR FAMILIES SUFFERING FROM CATASTROPHES OR HARDSHIPS. 5 5 0 9 0 0 122226 56434 0 0 0 0 0 0 122226 56434 434827 284635 0 0 0 0 0 0 0 6434 12838 441261 297473 -319035 -241039 2333226 2087087 5100 0 2328126 2087087 EMERGENCY RELIEF FUND FOR CAESARS EMPLOYEES AND THEIR FAMILIES SUFFERING FROM CATASTROPHES OR HARDSHIPS. 0 0 289557 284635 IN 2023, LIFEBOAT CONTINUED TO SUPPORT ITS PHILANTHROPIC MISSION AND WAS ABLE TO SUCCESSFULLY PROVIDE $284,635 IN GRANTS TO APPLICANTS WHO WERE EXPERIENCING FINANCIAL STRESS DUE TO HARDSHIPS. 289557 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 AL AR CA FL GA HI IL KS KY MD MA MI MN MS NH NJ NM NY NC OR PA RI SC TN UT VA WV WI X RICARDO CORNEJO - TREASURER 7028843471 1 CAESARS PALACE DRIVE LAS VEGAS NV 89109 X ANNETTE AGUIRRE TRUSTEE 2.00 0.00 X 0 0 0 CRAIG FJELSTED TRUSTEE 2.00 0.00 X 0 0 0 AMY MILDREN TRUSTEE 2.00 0.00 X 0 0 0 HEATHER RAPP TRUSTEE 2.00 0.00 X 0 0 0 RICHARD WEBER TRUSTEE 2.00 0.00 X 0 0 0 GREG PALK PRESIDENT 12.00 0.00 X 0 0 0 RICARDO CORNEJO TREASURER 12.00 0.00 X 0 0 0 REED HORSLEY SECRETARY (AS OF 4/13/2023) 12.00 0.00 X 0 0 0 LISA MURRAY ADMINISTRATOR (AS OF 4/13/2023) 12.00 0.00 X 0 0 0 0 0 0 0 0 0 0 0 56434 56434 56434 0 0 0 284635 284635 12838 4922 7916 297473 289557 7916 0 2270406 2038412 62820 48675 2333226 2087087 5100 0 5100 0 X 2328126 2087087 2328126 2087087 2333226 2087087 -241039 0 X 0 0 0 X 1602916 2872834 122226 56434 4654410 1602916 2872834 122226 56434 4654410 3143268 1511142 4522 9247 13769 4668179 0.32370 0.31580 X THE MISSION OF LIFEBOAT, INC. IS TO PROVIDE EMERGENCY RELIEF FOR CAESARS EMPLOYEES AND THEIR FAMILIES SUFFERING FROM CATASTROPHES OR HARDSHIPS. LIFEBOAT, INC. RELIES UPON THE GENEROSITY OF PUBLIC DONORS TO CONTINUE ITS IMPORTANT WORK. HISTORICALLY, THE ORGANIZATION HAS RECEIVED LARGE DONATIONS FROM A SMALL CLASS OF DONORS, BUT THE ORGANIZATION'S GOAL IS TO DIMINISH ITS RELIANCE UPON THIS MODEL AND EXPAND ITS FUNDRAISING REACH INTO THE PUBLIC SECTOR. LIFEBOAT, INC. UNDERSTANDS THE NEED TO MEET THE PUBLIC SUPPORT TEST. TO THAT END, IT IS CONTINUALLY ATTEMPTING TO GENERATE NEW SOURCES OF FUNDRAISING, BOTH THROUGH BROAD DONOR APPEALS AND TARGETED SOLICITATIONS. INTERNAL REVENUE CODE REGULATION 1.170A-9T LISTS SEVERAL CRITERIA WHICH INDICATE FACTS AND CIRCUMSTANCES SUPPORTING AN ORGANIZATION'S CONTINUED PUBLIC CHARITY STATUS DESPITE NOT MEETING THE 33 1/3 SUPPORT TEST. THOSE CRITERIA ARE AS FOLLOWS: 1. ATTRACTION OF PUBLIC SUPPORT - IN THE PAST FEW YEARS, LIFEBOAT, INC. HAS SOUGHT TO EXPAND ITS FUNDRAISING CAPABILITIES IN ORDER TO GENERATE GREATER PUBLIC SUPPORT. THESE ACTIVITIES TARGET PROSPECTIVE DONORS WHO SUPPORT THE MISSION AND PROGRAMS OF THE ORGANIZATION. LIFEBOAT, INC.'S EFFORTS TO EXPAND ITS DONOR BASE HAVE ACHIEVED SOME SUCCESS IN SPREADING THE ORGANIZATION'S MISSION AND REACH; HOWEVER, THE ORGANIZATION'S PUBLIC SUPPORT TEST CONTINUES TO DIMINISH DESPITE ITS BEST EFFORTS TO SECURE ADDITIONAL FUNDING SOURCES. 2. PERCENTAGE OF FINANCIAL SUPPORT - LIFEBOAT, INC.'S PUBLIC SUPPORT PERCENTAGE CONTINUES TO EXCEED 10%. THE HIGHER THE PERCENTAGE OF SUPPORT ABOVE THE 10 PERCENT REQUIREMENT OF PARAGRAPH (F)(3)(I) OF 1.170A-9T, THE LESSER WILL BE THE BURDEN OF ESTABLISHING THE PUBLICLY SUPPORTED NATURE OF THE ORGANIZATION THROUGH OTHER FACTORS DESCRIBED IN PARAGRAPH (F)(3), WHILE THE LOWER THE PERCENTAGE, THE GREATER WILL BE THE BURDEN. LIFEBOAT, INC. 'S SUPPORT PERCENTAGE IS LOW BECAUSE IT RECEIVES A HIGH PERCENTAGE OF ITS TOTAL SUPPORT FROM A SMALL CLASS OF DONORS. THE ORGANIZATION IS ATTEMPTING TO CHANGE THIS AND IT RECOGNIZES THAT IT MAY HAVE TO CONSIDER CLASSIFYING ITSELF AS A PRIVATE FOUNDATION IN THE COMING YEARS. 3. SOURCES OF SUPPORT - LIFEBOAT, INC.'S PRIMARY SOURCES OF CONTRIBUTION REVENUE MUST EVOLVE. IN RECENT YEARS, LIFEBOAT, INC. HAS FOCUSED EFFORTS ON A WIDE VARIETY OF INDIVIDUAL DONORS THAT VISIT CAESARS PROPERTIES TO INCREASE ITS BROAD PUBLIC SUPPORT.4. REPRESENTATIVE GOVERNING BODY - LIFEBOAT, INC. HAS A GOVERNING BODY THAT IS BROADLY REPRESENTED. EACH OF THESE FACTORS ARE SIGNIFICANT POSITIVE EVIDENCE OF LIFEBOAT, INC.'S PUBLICLY SUPPORTED NATURE. LIFEBOAT, INC. IS CURRENTLY SEEKING TO INCREASE THE AMOUNT OF DONATIONS IT RECEIVES FROM THE PUBLIC AS EVIDENCED BY THE SEQUENTIAL IMPROVEMENT IN ITS 5 YR PUBLIC SUPPORT TEST RATIO FROM 2022 TO 2023. SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: TANGO CARD REBATE - 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 4,522. 2021 AMOUNT: $ 9,247. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 HARDSHIP ASSISTANCE FOR EMPLOYEES 188 284635 PART I, LINE 2: LIFEBOAT IS A PHILANTHROPIC VEHICLE TO SUPPORT TEAM MEMBERS FACING UNEXPECTED HARDSHIPS AND EMERGENCIES. LIFEBOAT HAS CREATED FUND GUIDELINES IN ORDER TO DETERMINE THE CRITERIA TO PROVIDE ASSISTANCE. WE HAVE DEFINED WHO IS ELIGIBLE AND THE TYPE OF ASSISTANCE AVAILABLE. IN ADDITION ASSISTANCE WILL ONLY BE PAID TO AGENCIES PROVIDING SERVICE. WITHIN THE GUIDELINES IS A STRICT APPLICATION PROCESS, WHICH IS REVIEWED BY ADMINISTRATORS AND BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 2 GREG PALK, REED HORSLEY, RICARDO CORNEJO RIVAS, AND LISA MURRAY HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE DRAFT FORM 990 IS PRESENTED BY THE ACCOUNTING FIRM TO THE GOVERNING BODY, AT THE ORGANIZATION'S BOARD MEETING, FOR APPROVAL BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO ALL TRUSTEES, PRINCIPAL OFFICERS OR MEMBERS OF A COMMITTEE WITH BOARD DELEGATED POWERS. ALL TRUSTEES ARE SENT AN ANNUAL DISCLOSURE QUESTIONNAIRE. DURING THE COURSE OF DOING BUSINESS, IF CONFLICTS ARE SUSPECTED BY ANYONE, THEY ARE ENCOURAGED TO NOTIFY OF THEIR SUSPICIONS. TO ENSURE THE ORGANIZATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED. FORM 990, PART VI, SECTION B, LINE 15 LIFEBOAT INC DOES NOT HAVE EMPLOYEES OF ITS OWN. ALL MANAGEMENT AND ESSENTIAL DUTIES ARE PERFORMED BY CAESARS EMPLOYEES ON A VOLUNTEER BASIS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE FORM 990 IS AVAILABLE TO THE PUBLIC THROUGH GUIDESTAR AND THE IRS WEBSITE.