Innovating Worthy Projects
- Assets
- $5.2m
- Revenue
- $345.7k
- Investments
- $5.1m
- Employees
- 0
- Location
- Green Cove Springs, FL
- Founding
- 06/1967
- Data as of
- 08/2023
- EIN
- 22-6083636
Organization Overview
Innovating Worthy Projects is located in Green Cove Springs, FL. The organization was established in 1967. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Innovating Worthy Projects 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, Innovating Worthy Projects generated $345.7k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 32.3% each year . All expenses for the organization totaled $349.2k during the year ending 08/2023. While expenses have increased by 3.5% per year over the past 4 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.
Since 2020, Innovating Worthy Projects has awarded 121 individual grants totaling $752,773. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Edward Packer Chairman/president | 10 | $48,000 | |
Howard Packer ESQ Trustee | 15 | $31,250 | |
Stephen P Weiss Secretary | 1 | $0 | |
Richard W Culbertson Jr Treasurer | 1 | $0 | |
Jeffrey Packer Chairman | 1 | $0 | |
Emily Zappa Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $186,232 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $159,435 |
| Capital Gain Net Income | $159,435 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $345,667 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $79,250 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $26 |
| Taxes | $6,963 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $17,334 |
| Total operating and administrative expenses | $172,886 |
| Contributions, gifts, grants paid | $176,360 |
| Total expenses and disbursements | $349,246 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,544 |
| 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 | $4,320,990 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $19,715 |
| Total assets | $5,161,184 |
| 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 | $24,221 |
| Total liabilities | $24,221 |
Grants Awarded
Over the last fiscal year, Innovating Worthy Projects has awarded $176,360 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
AARON'S ACES PURPOSE: PROVIDE PARTIAL SCHOLARSHIPS FOR 18 PARTICIPANTS AT CAMP | $9,000 |
BRIDGE II SPORTS PURPOSE: PURCHASE YOUTH SIZED RACING WHEELCHAIRS, SPORTS SPECIFIC - TRACK & FIELD | $10,000 |
CAMP RISE ABOVE PURPOSE: TO PROVIDE FOR PROGRAM ACTIVITY COSTS AND CAMPERSHIPS FOR PARTICIPANTS | $10,000 |
DANNY DID FOUNDATION PURPOSE: TO PURCHASE 13 SEIZURE DETECTING DEVICES FOR FAMILIES IN NEED | $10,000 |
DISABILITY EMPOWHER NETWORK INC PURPOSE: EMPOWHER CAMP: A LEADERSHIP PROGRAM FOR GIRLS WITH DISABILITIES | $10,000 |
DOWN SYNDROME ASSOCIATION OF DELAWARE PURPOSE: DAYS OF SUMMER: INCLUSIVE CAMP FOR CHILDREN WITH DOWN SYNDROME | $10,000 |