Seven Pearls Foundation Inc
- Assets
- $2.1m
- Revenue
- $168.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Cary, NC
- Founding
- 07/2008
- Data as of
- 12/2020
- EIN
- 20-2063625
Organization Overview
Seven Pearls Foundation Inc is located in Cary, NC. The organization was established in 2008. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seven Pearls Foundation 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 12/2020, Seven Pearls Foundation Inc generated $168.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $145.1k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE SEVEN PEARLS FOUNDATION, INC., PROVIDES SUPPORT OF SIGMA GAMMA RHO SORORITYS PROGRAMS BY PROVIDING SERVICES THAT ADDRESS THE NEEDS OF THE COMMUNITY AND DEVELOPING PARTNERSHIPS THAT ADDRESS THOSE CRITICAL ISSUES IMPACTING THE CITIZENRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION FACILITATED WORKSHOPS THAT FOCUSED ON HEALTHY CHOICES, COLLEGE ADMISSION, COMPLETING SCHOLARSHIP APPLICATIONS AND CONFLICT RESOLUTION. SENIOR DAY WAS SPENT IN A NURSING HOME WHERE ENTERTAINMENT AND REFRESHMENTS WERE PROVIDED AND A GIFT OF CASE(S)OF DISPOSABLE UNDERPANTS WAS PRESENTED. A VISIT WAS ALSO MADE TO THE SHELTER FOR TEEN MOMS AND A GIFT OF CASE(S) OF PULL-UPS FOR THE CHILDREN. DEVELOPED PARTNERSHIPS WITH THE AMERICAN HEART ASSOCIATION AND THE SICKLE CELL DISEASE ASSOCIATION EDUCATING THE COMMUNITY USING VIDEOS AND WRITTEN MANUALS. EACH YEAR THE FOUNDATION SUPPORTS THE NC ROADRUNNERS CANCER MARATHON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lillie Reed Director | Trustee | 10 | $0 |
Mynora Bryant President Emerita | Trustee | 20 | $0 |
Tamarah P Ravenell Director | Trustee | 10 | $0 |
Mary A Randle Vice President | Trustee | 20 | $0 |
Sheila M Parson Secretary | Trustee | 20 | $0 |
Linette Caroselli Presidentceo | Trustee | 30 | $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 | $4,746 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,746 |
| Total Program Service Revenue | $137,067 |
| Investment income | $21 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,578 |
| 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 | $168,412 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $8,091 |
| Royalties | $0 |
| Occupancy | $25,618 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $19,157 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,609 |
| Insurance | $0 |
| All other expenses | $5,065 |
| Total functional expenses | $145,133 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $183,657 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,750 |
| 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 | $1,909,518 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,115,925 |
| Accounts payable and accrued expenses | $10,478 |
| 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 | $357,725 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $368,203 |
| Net assets without donor restrictions | $1,747,722 |
| 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 | $2,115,925 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Seven Pearls Foundation Inc has recieved totaling $246.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $246 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Telamon Corporation Raleigh, NC | $28,971,791 | $85,006,099 |
Pruitt Corporation Employee Welfare Norcross, GA | $5,026,472 | $52,038,649 |
Palmetto Goodwill North Charleston, SC | $100,114,143 | $50,949,954 |
Helping Hands Ministries Inc Tallulah Falls, GA | $3,673,283 | $41,819,921 |
Bremen Food & Clothing Bank Inc Bremen, GA | $515,496 | $35,921,408 |
Navy Marine Coast Guard Residence Foundation Mclean, VA | $169,576,374 | $36,329,894 |
Southwest Georgia Community Action Council Inc Moultrie, GA | $11,357,621 | $35,023,890 |
Mid-Cumberland Human Resource Agency Nashville, TN | $16,634,342 | $31,822,877 |
Must Ministries Inc Marietta, GA | $38,621,848 | $35,481,764 |
Inter-Faith Food Shuttle Raleigh, NC | $8,299,507 | $23,329,525 |
Total Action Against Poverty In Roanoke Valley Roanoke, VA | $8,696,425 | $23,450,227 |
Enrichment Services Program Incorporated Columbus, GA | $4,122,189 | $23,954,834 |