A Better Chance In Lower Merion Inc
- Assets
- $1.3m
- Revenue
- $425.1k
- Investments
- $183.1k
- Employees
- 5
- Location
- Ardmore, PA
- Founding
- 12/1973
- Data as of
- 06/2023
- EIN
- 23-1917466
Organization Overview
A Better Chance In Lower Merion Inc is located in Ardmore, PA. The organization was established in 1973. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. As of 06/2023, A Better Chance In Lower Merion Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. A Better Chance In Lower Merion 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, A Better Chance In Lower Merion Inc generated $425.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.3% each year . All expenses for the organization totaled $311.8k during the year ending 06/2023. While expenses have increased by 14.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BETTER LEARNING OPPORTUNITIES AND ATMOSPHERE FOR HIGH SCHOOL STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING FOR 8 - 10 HIGH SCHOOL STUDENTS IN ORDER FOR THEM TO RECEIVE BETTER LEARNING OPPORTUNITIES IN A BETTER ATMOSPHERE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Holstad Board Member | Trustee | 1 | $0 |
Jane Alavi Board Member | Trustee | 1 | $0 |
Paul Elcock Board Member | Trustee | 1 | $0 |
John Emery Board Member | Trustee | 1 | $0 |
Deashawn Goddard Board Member | Trustee | 1 | $0 |
Paula Singer Board Member | Trustee | 1 | $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 | $396,441 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $396,441 |
| Total Program Service Revenue | $0 |
| Investment income | $28,704 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $425,145 |
| 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 | $102,447 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,669 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,413 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,205 |
| Advertising and promotion | $0 |
| Office expenses | $665 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $976 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,360 |
| Insurance | $11,778 |
| All other expenses | $72,952 |
| Total functional expenses | $311,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,671 |
| Savings and temporary cash investments | $827,996 |
| Pledges and grants receivable | $110,000 |
| Accounts receivable, net | $0 |
| 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 | $9,244 |
| Net Land, buildings, and equipment | $94,105 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $183,078 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $71,533 |
| Total assets | $1,339,627 |
| Accounts payable and accrued expenses | $5,085 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,085 |
| Net assets without donor restrictions | $1,224,542 |
| Net assets with donor restrictions | $110,000 |
| 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 | $1,339,627 |