Powercross
- Assets
- $3.3m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 15
- Location
- Statesville, NC
- Founding
- 06/2008
- Data as of
- 08/2023
- EIN
- 14-1989435
Organization Overview
Powercross is located in Statesville, NC. The organization was established in 2008. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 08/2023, Powercross employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Powercross 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 08/2023, Powercross generated $2.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 22.6% each year . All expenses for the organization totaled $2.3m during the year ending 08/2023. While expenses have increased by 21.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SPREAD THE LIFE-CHANGING WORD OF CHRIST INTO OUR COMMUNITY, THROUGH ATHLETIC OUTREACH, CHRISTIAN DISCIPLESHIP, COLLEGE READINESS, LIFE SKILL TRAINING, AND FREE MEAL PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POWER CROSS PROVIDES FREE HOT MEALS DAILY TO YOUNG MEN IN OUR COMMUNITY WHO PRIMARILY LIVE IN FOOD INSECURE HOMES. WE SERVED APPROXIMATELY 81,000 FREE MEALS IN 2022-2023
TRANSPORTATION- A KEY PORTION OF THE POWER CROSS PROGRAM IS PROVIDING TRANSPORTATION TO OUR PARTICIPANTS. THE FLEET MANAGMENT OF POWER CROSS PROVIDES THOUSANDS OF MILES OF TRANSPORTATION ANNUALLY.
ATHLETIC TRAINING AND DEVELOPMENT- WE PROVIDE ATHLETIC TEAMS AND TRAINING FOR YOUNG MEN IN BASEBALL, BASKETBALL, WRESTLING, AND FOOTBALL. PROVIDING TRAINING, EQUIPMENT, ASSISTANCE WITH RECRUITING AND FREE CAMPS AND CLINICS YEAR ROUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Storment Co-Founder | OfficerTrustee | 55 | $74,651 |
Natalie Storment Co-Founder | OfficerTrustee | 55 | $74,651 |
Cory Knight Daily Operations Director | Officer | 50 | $60,918 |
Matthew Murdock Statesville Director | Officer | 50 | $46,619 |
Damoin J Parsons Salisbury Director | Officer | 50 | $13,558 |
Matthew Redmond Board Of Directors | Trustee | 0 | $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 | $2,585,114 |
| Noncash contributions included in lines 1a–1f | $15,380 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,585,114 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $2,585,114 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $270,397 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $654,944 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $152,834 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,943 |
| Fees for services: Accounting | $18,510 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $229,737 |
| Advertising and promotion | $105,148 |
| Office expenses | $51,365 |
| Information technology | $35,400 |
| Royalties | $0 |
| Occupancy | $90,071 |
| Travel | $24,556 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,080 |
| Interest | $1,590 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $93,425 |
| Insurance | $59,580 |
| All other expenses | $0 |
| Total functional expenses | $2,254,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130,328 |
| Savings and temporary cash investments | $1,528,757 |
| 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 | $1,652,089 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,311,174 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $3,311,174 |
| Total liabilities and net assets/fund balances | $3,311,174 |