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.
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 |
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 |