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 06/2023, Peer Power Foundation Inc employed 300 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 06/2023, Peer Power Foundation Inc generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $4.0m during the year ending 06/2023. While expenses have increased by 9.5% 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
TUTOR AND MENTOR STUDENTS TO BE SUCCESSFUL IN ACADEMICS, SOCIETY AND PRODUCTIVE EMPLOYABLE CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLEASE SEE SCHEDULE O FOR PROGRAM SERVICE ACCOMPLISHMENTS.PEER POWER FOUNDATION DIRECTLY INVESTS IN MID-SOUTH HIGH SCHOOL AND COLLEGE STUDENTS. IT RECRUITS, TRAINS, AND PLACES COLLEGE "SUCCESS COACHES" IN THE CLASSROOM FOR REAL TIME HELP WHEN A STUDENT NEEDS IT. THE COACHES ARE PLACED IN THE MATH, SCIENCE, AND ENGLISH CLASSES WHERE KIDS OFTEN STRUGGLE, BECOME PROBLEMATIC AND WITHDRAW FROM LEARNING AND EVEN DROP OUT OF SCHOOL. SCHOOLS WITH PEER POWER SUCCESS COACHES HAVE AN 8-10% HIGHER GRADUATION RATE. TO BE A SUCCESS COACH IS TO HAVE A MEANINGFUL JOB WHICH REQUIRES SUBSTANTIVE EXPERTISE IN MATH, SCIENCE, AND ENGLISH. ADDITIONALLY, IT REQUIRES A MINDSET OF SERVICE, HUMILITY, AND URGENCY. WE ARE PARTNERS WITH THE TEACHERS, THE SCHOOLS AND PARENTS TO MENTOR, MODEL AND MOTIVATE YOUNG AND VULNERABLE CHILDREN IN SOCIOECONOMICALLY CHALLENGED NEIGHBORHOODS. THE 75% OF STUDENTS WE SERVE ARE IN FAMILIES AT OR BELOW THE FEDERAL POVERTY LEVEL. SINCE 2004 WE HAVE TUTORED MORE THEN 1,600,000 HOURS IMPACTING 35,000 CHILDREN. THE "SUCCESS COACH" IS OFTEN A "FIRST GENERATION COLLEGE STUDENT." PEER POWER'S TRAINING AND CONTINUOUS LEARNING AND ELEARNING MODEL PRODUCES OUTSTANDING RESULTS. OUR SUCCESS COACH GRADUATION RATE IS 84%, THE NATIONAL AVERAGE "FIRST GENERATION COLLEGE STUDENT" RATE IS LESS THAN 40%. COVID-19 THE STUDENTS AND SCHOOLS WE SERVE WERE ABRUPTLY AND SERIOUSLY IMPACTED BY CLOSURE ON MARCH 8, 2020. PEER POWER MADE THE ECONOMIC DECISION TO RETAIN ALL COACHES AND IMMEDIATELY CONTINUE SUPPORT OF TEACHERS AND STUDENTS. EVERYTHING INCLUDING THE SATURDAY ACT PREP PROGRAM, AFTER SCHOOL TUTORING AND COLLEGE ORIENTATION COURSES WERE TRANSITIONED TO VIRTUALLY BUT CONTINUED WITH INDIVIDUAL SUPPORT. THE SPRING VIRTUAL SATURDAY ACT ENROLLED 611 STUDENTS. THE SIX SATURDAY COURSE REQUIRES STUDENTS TO INVEST 3 HOURS EACH SATURDAY. THE PAYOFF IS EACH THE 1200-1800 ENROLLEES LEARN THINKING SKILLS, STUDY HABITS AND DIRECT SUBJECT REVIEW AND EARN MILLIONS OF DOLLARS IN COLLEGE SCHOLARSHIPS. THE PEER POWER INSTITUTE ON THE UNIVERSITY OF MEMPHIS CAMPUS EXPANDED THE HIGH SCHOOL STUDENT OUTREACH TO ALL GRADUATING SHELBY COUNTY SCHOOL SENIORS. IT IS A COMPLETE PARTNER IN UNIVERSITY RECRUITMENT, STUDENT EMPLOYMENT AND RESEARCH. THE COVID CHALLENGE WAS MET BY PEER POWER'S RESOURCEFULNESS, AND WE ARE PREPARED IN THE FUTURE TO SERVE MORE STUDENTS, TEACHERS, PRINCIPALS, AND SCHOOLS. PEER POWER PROGRAMS ARE TARGETED FOR STUDENTS FROM ELEMENTARY SCHOOL THROUGH COLLEGE. THE PROGRAMS INCLUDE: IN CLASS, AFTER SCHOOL, SMALL GROUP, SATURDAY ACT AND SUMMER CAMPS. COVID-19 CLOSED THE SCHOOLS, BUT NOT PEER POWER. WE MIGRATED TO DIRECT TEACHER AND STUDENT HELP THROUGH THE INTERNET.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dow Mcvean Co-Chairperson | OfficerTrustee | 1 | $0 |
Jim Barton Treasurer | OfficerTrustee | 1 | $0 |
Josh Lackie Director | Trustee | 1 | $0 |
Katherine Kaelin Chairperson | OfficerTrustee | 1 | $0 |
Susan Plunkett Director | Trustee | 1 | $0 |
Thomas Nenon Secretary | OfficerTrustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $207,947 |
Related organizations | $0 |
Government grants | $831,950 |
All other contributions, gifts, grants, and similar amounts not included above | $677,978 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,717,875 |
Total Program Service Revenue | $2,222,645 |
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 | -$43,960 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,896,560 |
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. | $431,731 |
Compensation of current officers, directors, key employees. | $19,428 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,781,794 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $238,019 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $21,450 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $123,383 |
Advertising and promotion | $0 |
Office expenses | $154,569 |
Information technology | $6,133 |
Royalties | $0 |
Occupancy | $57,002 |
Travel | $21,883 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $14,112 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $5,465 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $3,982,003 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $797,127 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $198,974 |
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 | $14,242 |
Investments—publicly traded securities | $25,550 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $313,260 |
Total assets | $1,349,153 |
Accounts payable and accrued expenses | $266,821 |
Grants payable | $0 |
Deferred revenue | $36,413 |
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 | $303,234 |
Net assets without donor restrictions | $1,028,399 |
Net assets with donor restrictions | $17,520 |
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 | $1,349,153 |
Over the last fiscal year, The Peer Power Foundation Inc has awarded $203,000 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
UNIVERSITY OF MEMPHIS PURPOSE: TO THE CHARLES D. MCVEAN FOGELMAN PEER POWER FUND AND EXECUTIVE MBA PROGRAM ERIC HARRIS | $28,000 |
UNIVERSITY OF MEMPHIS FOUNDATION PURPOSE: COLLEGE OF ARTS AND SCIENCE TUTOR PROGRAM | $175,000 |