Giving Back Fund Inc
- Assets
- $13.8m
- Revenue
- $28.3m
- Investments
- $1.1m
- Employees
- 24
- Location
- Boston, MA
- Founding
- 07/1997
- Data as of
- 12/2022
- EIN
- 04-3367888
Organization Overview
Giving Back Fund Inc is located in Boston, MA. The organization was established in 1997. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Giving Back Fund Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Giving Back Fund Inc 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, Giving Back Fund Inc generated $28.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $25.6m during the year ending 12/2022. While expenses have increased by 23.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Giving Back Fund Inc has awarded 473 individual grants totaling $14,672,530. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE GIVING BACK FUND (GBF) IS A NATIONAL NON-PROFIT ORGANIZATION WITH A GLOBAL REACH THAT FACILITATES PHILANTHROPIC GIVING BY PROVIDING CONSULTING, MANAGEMENT, AND ADMINISTRATIVE SERVICES UNDER A GOVERNANCE STRUCTURE SIMILAR TO A COMMUNITY FOUNDATION. WITH MORE THAN 250 YEARS OF COMBINED WORLD-CLASS EXPERTISE, OUR TEAM OF PHILANTHROPY PROFESSIONALS HAS HELPED OUR CLIENTS CREATE MORE THAN 750 INDIVIDUAL FOUNDATIONS AND FISCALLY SPONSORED PROJECTS ACROSS THE GLOBE. OUR CLIENTS INCLUDE ATHLETES, ENTERTAINERS, BUSINESS ENTREPRENEURS, CORPORATIONS, AND OTHERS ALL WITH A COMMON GOAL TO MAKE THIS A BETTER WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1. INVISIBLE HANDS----DELIVERED MORE THAN 2 MILLION DELIVERIES OF GROCERIES TO IMMUNOCOMPROMISED ELDERLY IN NYC DURING COVID USING 12,000 VOLUNTEERS! 2. VOICE---WORKED INSIDE OF UKRAINE AND POLAND TO RESCUE AND PROVIDE LIFE AND DEATH RELIEF FOR YOUNG GIRLS AND WOMEN DURING THE UKRAINE WAR WITH RUSSIA!3. NEXUS---GREW TO 6,000 YOUNG PEOPLE IN 70 COUNTRIES AROUND THE WORLD REPRESENTING A COMBINED NET WORTH OF $750 BILLION ALL COMING TOGETHER TO CHANGE THE WORLD FOR THE BETTER. FOCUSING ON ANTI-HUMAN TRAFFICKING, CLIMATE CHANGE, IMPACT INVESTING, STORYTELLING, INDIGENOUS POPULATIONS, AND SO MUCH MORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Prashanth Palakurthi Chairman Of The Board | OfficerTrustee | 2 | $0 |
Charlie Goldwasser Secretary | OfficerTrustee | 1 | $0 |
Craig Szabo Treasurer | OfficerTrustee | 1 | $0 |
David Brand Director | Trustee | 1 | $0 |
Michael Caggiano Director | Trustee | 1 | $0 |
Abhi Goel Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elizabeth Heavener Foundation Consultant | 12/30/19 | $180,945 |
Ebone Gaskins Foundation Consultant | 12/30/19 | $100,081 |
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 | $28,057,770 |
| Noncash contributions included in lines 1a–1f | $500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,057,770 |
| Total Program Service Revenue | $0 |
| Investment income | $6,545 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,422 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,252,124 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,809,711 |
| Grants and other assistance to domestic individuals. | $177,323 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,039,842 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $743,000 |
| Compensation of current officers, directors, key employees. | $505,240 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,280,917 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $101,286 |
| Payroll taxes | $150,717 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $106,821 |
| Fees for services: Accounting | $208,866 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,044,184 |
| Advertising and promotion | $127,353 |
| Office expenses | $307,481 |
| Information technology | $153,493 |
| Royalties | $0 |
| Occupancy | $78,665 |
| Travel | $968,528 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $978,614 |
| Interest | $45 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $81,620 |
| All other expenses | $63,809 |
| Total functional expenses | $25,614,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,541,539 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,774,083 |
| Accounts receivable, net | $424,050 |
| 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 | $20,552 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,061,912 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,640 |
| Total assets | $13,827,776 |
| Accounts payable and accrued expenses | $1,373,900 |
| Grants payable | $0 |
| Deferred revenue | $4,600 |
| 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 | $1,378,500 |
| Net assets without donor restrictions | $1,147,312 |
| Net assets with donor restrictions | $11,301,964 |
| 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 | $13,827,776 |
Grants Awarded
Over the last fiscal year, Giving Back Fund Inc has awarded $1,505,966 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
INTERNATIONAL RESCUE COMMITTEE PURPOSE: TO SUPPORT COVID RELIEF PROGRAMS | $333,333 |
ELIJAH INTERFAITH INSTITUTE USA PURPOSE: GRANT AWARD FOR CONVENING FOR PEACE IN UKRAINE | $50,000 |
EARTH INNOVATION INSTITUTE PURPOSE: GENERAL ASSISTANCE | $265,000 |
SENTINEL FOUNDATION PURPOSE: GENERAL ASSISTANCE | $55,000 |
INVISIBLE HANDS DELIVER PURPOSE: GENERAL ASSISTANCE | $177,739 |
MOTOPARA FOUNDATION INC PURPOSE: FOOD AND MEDICINES | $300,000 |