Libra Future Fund
- Assets
- $0.0
- Revenue
- $31.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Portland, ME
- Founding
- 10/2005
- Data as of
- 12/2020
- EIN
- 20-2402155
Organization Overview
Libra Future Fund is located in Portland, ME. The organization was established in 2005. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Libra Future Fund 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, Libra Future Fund generated $31.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (27.1%) each year. All expenses for the organization totaled $35.8k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (24.2%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Libra Future Fund has awarded 13 individual grants totaling $105,228. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
SIX GRANTS WERE AWARDED TO YOUNG ENTREPRENEURS BETWEEN THE AGES OF EIGHTEEN AND TWENTY-NINE, OR OTHER RECIPIENTS DECIDED ON BY THE BOARD, TO HELP START OR EXPAND THEIR BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erik K Hayward President And Treasurer | 5 | $0 | |
Hayley Griffin Secretary | 2 | $0 | |
Devin Mcneill Director | 2 | $0 | |
Madeleine Purcell Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $31,035 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $31,035 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $1,281 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,365 |
| Total operating and administrative expenses | $4,389 |
| Contributions, gifts, grants paid | $31,410 |
| Total expenses and disbursements | $35,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Libra Future Fund has awarded $31,410 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
BLAIR HILL INN PURPOSE: BUSINESS GRANTS | $10,000 |
PRONOUNCED HUMAN LLC PURPOSE: BUSINESS GRANTS | $5,000 |
RENTSCORE LLC PURPOSE: BUSINESS GRANTS | $5,000 |
STAND ALONE GEAR LLC PURPOSE: BUSINESS GRANTS | $5,000 |
LIEF LLC PURPOSE: BUSINESS GRANTS | $5,000 |
PINELAND FARMS INC PURPOSE: TRANSFER OF FURNITURE UPON DISSOLUTION | $1,410 |