World Fund Inc

Organization Overview

World Fund Inc is located in New York, NY. The organization was established in 1988. According to its NTEE Classification (Q12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. World 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 12/2021, World Fund Inc generated $161.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.6% each year . All expenses for the organization totaled $153.3k during the year ending 12/2021. While expenses have increased by 22.5% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

A BETTER WORLD FUND GIVES GRANTS ANNUALLY TO DESERVING CHARITIES WORKING INTERNATIONALLY AND IN THE UNITED STATES IN THE AREAS OF PEACE, HUNGER, HEALTH, HUMAN RIGHTS, ECOLOGY, EDUCATION, AND ECONOMIC DEVELOPMENT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

IN NOVEMBER 2020, THE BOARD PASSED A RESOLUTION TO DISSOLVE THE ORGANIZATION. IN 2021, ALL ASSETS WERE DONATED TO VARIES NONPROFIT ORGANIZATIONS IN THE UNITED STATES TO CONTINUE FACILITATING, ENCOURAGING, AND FURTHERING WORLD BETTERMENT. IN DECEMBER 2020, THE BOARD APPROVED A TOTAL OF $700,000 DONATION TO 14 DIFFERENT NONPROFIT ORGANIZATION. IN MARCH 2021, ANOTHER $150,000 OF DONATION TO ANOTHER 11 DIFFERENT NONPROFIT ORGANIZATION WAS APPROVED BY THE BOARD. ALL $850,000 WAS PAID OUT IN 2021.AS OF DECEMBER 31, 2021, THE CASH BALANCE OF $9,811 WILL BE USED TO PAY FOR ACCOUNTING, LEGAL, AND FILING FEES RELATED TO THE DISSOLUTION PROCESS. ANY REMAINING CASH WILL BE DONATED TO NONPROFIT ORGANIZATIONS APPROVED BY THE BOARD.


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Board, Officers & Key Employees

Name (title)Compensation
Ronald Jacobs
President
$0
Shanin Coleman
Board Member
$0
Ann M Randolph CPA
Treasurer
$0
Nikisha Gala
Board Member
$0
Allegra Parks
Board Member
$0
Robert T Perry
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$500
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$571
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,071
Total Program Service Revenue$0
Investment income $352
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $159,685
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $161,108

Grants Recieved

Over the last fiscal year, we have identified 1 grants that World Fund Inc has recieved totaling $5,000.

Awarding OrganizationAmount
United Way Of Bergen County

Paramus, NJ

PURPOSE: DONOR DESIGNATION

$5,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$670,168
Earnings$160,037
Admin Expense$1,276
Net Contributions$1,071
Grants$830,000

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