Underdog Foundation
- Assets
- $459.4k
- Revenue
- $6.9k
- Investments
- $314.5k
- Employees
- 2
- Location
- Island Pond, VT
- Founding
- 03/2002
- Data as of
- 12/2022
- EIN
- 03-0368814
Organization Overview
Underdog Foundation is located in Island Pond, VT. The organization was established in 2002. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Underdog Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Underdog 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 12/2022, Underdog Foundation generated $6.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (14.2%) each year. All expenses for the organization totaled $243.7k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE UNDERDOG FOUNDATION ("THE FOUNDATION") THROUGH ITS GRANT MAKING, COMMUNITY INVESTMENT, TECHNICAL ASSISTANCE AND STRATEGIC PARTNERSHIPS PROVIDES MENTORING AND TECHNICAL EXPERTISE TO SUPPORT NON-PROFIT ORGANIZATIONS DOING IMPORTANT WORK IN OUR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UNDERDOG FOUNDATION'S PROGRAM IN 2022 WAS TO PROVIDE TECHNICAL ASSISTANCE, GRANTS, MENTORING AND COMMUNITY INVESTMENTS IN ORDER TO FURTHER OUR CHARITABLE MISSION, ALL OF WHICH IS CONSISTENT WITH THAT OF OUR SUPPORTED ORGANIZATION. THIS COMMUNITY DEVELOPMENT, JOB CREATION, STRATEGIC PARTNERSHIP AND IMPACT/COMMUNITY INVESTMENT WORK WAS THE PROGRAM FOR 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Berge President/sec | OfficerTrustee | 32 | $135,000 |
Alisa Gravitz Chairman | OfficerTrustee | 0.6 | $0 |
Drummond Pike Director | Trustee | 0.6 | $0 |
Joel Solomon Director | Trustee | 0.6 | $0 |
Lauri Thompson Treasurer | OfficerTrustee | 0.6 | $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 | $0 |
| Investment income | $3,416 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,873 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,500 |
| 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. | $135,000 |
| Compensation of current officers, directors, key employees. | $20,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,588 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,590 |
| Payroll taxes | $10,679 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,616 |
| Fees for services: Accounting | $7,259 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $325 |
| Advertising and promotion | $0 |
| Office expenses | $3,028 |
| Information technology | $7,679 |
| Royalties | $0 |
| Occupancy | $8,150 |
| Travel | $20,476 |
| 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 | $0 |
| Insurance | $454 |
| All other expenses | $672 |
| Total functional expenses | $243,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,720 |
| Savings and temporary cash investments | $112,191 |
| 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 | $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 | $314,473 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,018 |
| Total assets | $459,402 |
| Accounts payable and accrued expenses | $295 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $295 |
| Net assets without donor restrictions | $459,107 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $459,402 |
Grants Awarded
Over the last fiscal year, Underdog Foundation has awarded $62,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY FOOD CUPBOARD PURPOSE: Program Support | $25,000 |
PEOPLE POWER INITIATIVE PURPOSE: Program Support | $21,475 |
TIDES FOUNDATION PURPOSE: Program Support | $7,000 |
UNTOURS FOUNDATION PURPOSE: Program Support | $9,025 |