The Peer Power Foundation Inc
- Assets
- $1.3m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 190
- Location
- Memphis, TN
- Founding
- 12/2005
- Data as of
- 06/2021
- EIN
- 20-2069907
Organization Overview
The Peer Power Foundation Inc is located in Memphis, TN. The organization was established in 2005. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 06/2021, Peer Power Foundation Inc employed 190 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peer Power 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 06/2021, Peer Power Foundation Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $2.8m during the year ending 06/2021. While expenses have increased by 6.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PEER POWER'S MISSION IS TO INSPIRE AND EMPOWER YOUTH TO TAKE CONTROL OF THEIR ACADEMIC SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PEER POWER FOUNDATION HAS INVESTED MORE THAN $23 MILLION IN EDUCATION SINCE 2004 BY PROVIDING THE OPPORTUNITY FOR ALL CHILDREN TO LEARN THROUGH HIGH DOSAGE TUTORING REGARDLESS OF THEIR ZIP CODE. PEER POWER HAS INVESTED MORE THAN 1.3 MILLION HOURS OF IN-CLASS AND AFTER SCHOOL TUTORING WHILE CREATING MORE THAN 2,000 TUTORING JOBS FOR ACADEMICALLY EXCELLING HIGH SCHOOL AND COLLEGE STUDENTS THAT SERVE AS PEER TUTORS. PEER POWER HIRES, TRAINS, AND PLACES PEER TUTORS IN THE CLASSROOM WHERE STRUGGLING STUDENTS NEED THE HELP MOST. TUTORING SUBJECTS CONSISTOF MATH, ENGLISH, SCIENCE, AND BIOLOGY. STUDENTS WITH PEER POWER TUTORS HAVE HIGHER GRADUATION AND COLLEGE ACCEPTANCE RATES AND STUDENTS ENTERING DIRECTLY INTO THE WORKFORCE AFTER HIGH SCHOOL ARE MORE SKILLED. COLLEGE STUDENTS WHO SERVE AS TUTORS HAVE A 31% HIGHER GRADUATION RATE WHILE THEY'VE ALSO DECREASED THEIR STUDENT DEBT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Sehnert Executive Director | OfficerTrustee | 40 | $159,618 |
Tabitha Glenn Chief Executive Director | OfficerTrustee | 40 | $124,519 |
Dow Mcvean Co-Chairperson | OfficerTrustee | 1 | $0 |
Jim Barton Treasurer | OfficerTrustee | 1 | $0 |
Katherine Kaelin Chairperson | OfficerTrustee | 1 | $0 |
Thomas Nenon Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $115,334 |
| Related organizations | $0 |
| Government grants | $161,575 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,099,528 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,376,437 |
| Total Program Service Revenue | $1,331,132 |
| Investment income | $423 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$30,236 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,677,756 |
| 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. | $335,000 |
| Compensation of current officers, directors, key employees. | $15,075 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,970,090 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $173,135 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $675 |
| Fees for services: Accounting | $20,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $9,226 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $82,820 |
| Advertising and promotion | $56,985 |
| Office expenses | $110,413 |
| Information technology | $4,741 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,019 |
| Interest | $289 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,350 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,817,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,060,180 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $241,615 |
| 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 | $37,588 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,339,383 |
| Accounts payable and accrued expenses | $130,964 |
| Grants payable | $0 |
| Deferred revenue | $48,000 |
| 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 | $178,964 |
| Net assets without donor restrictions | $1,119,199 |
| Net assets with donor restrictions | $41,220 |
| 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 | $1,339,383 |
Grants Awarded
Over the last fiscal year, The Peer Power Foundation Inc has awarded $203,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Memphis, TN PURPOSE: COLLEGE OF ARTS AND SCIENCE TUTOR PROGRAM | $175,000 |
UNIVERSITY OF MEMPHIS PURPOSE: TO THE CHARLES D. MCVEAN FOGELMAN PEER POWER FUND AND EXECUTIVE MBA PROGRAM ERIC HARRIS | $28,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Peer Power Foundation Inc has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Brinkley Foundation Memphis, TN PURPOSE: CHARITABLE | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Duke Corporate Education Durham, NC | $27,489,390 | $18,675,614 |
University Of North Georgia Foundation Inc Dahlonega, GA | $101,168,345 | $9,379,486 |
Cape Fear Tutoring Inc Wilmington, NC | $2,173,027 | $16,040,654 |
Southern Assoc Of Colleges And Schools Commission On Colleges Inc Decatur, GA | $21,107,199 | $13,477,936 |
White Hall Enrichment Advancement Team Hayneville, AL | $52,157 | $11,823,582 |
National Association For College Admission Counseling Inc Arlington, VA | $22,607,858 | $9,863,408 |
North Mississippi Education Consortion University, MS | $2,578,004 | $9,299,460 |
Memphis Education Fund Inc Memphis, TN | $2,536,598 | $5,955,711 |
The Cottage School Educational Resource Center Inc Roswell, GA | $19,413,651 | $9,463,796 |
Pencil Foundation Nashville, TN | $3,991,693 | $7,143,023 |
Edreports Org Inc Durham, NC | $5,799,627 | $6,182,160 |
American School Counselor Association Alexandria, VA | $7,066,172 | $7,522,290 |