Bbc Foundation Inc
- Assets
- $6.7m
- Revenue
- $953.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Clarks Summit, PA
- Founding
- 01/1998
- Data as of
- 05/2022
- EIN
- 23-2732238
Organization Overview
Bbc Foundation Inc is located in Clarks Summit, PA. The organization was established in 1998. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bbc 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 05/2022, Bbc Foundation Inc generated $953.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $267.6k during the year ending 05/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
RAISE FUNDS FOR RELATED UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAISE FUNDS AND MANAGE ENDOWMENTS FOR RELATED UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Benefiel Board Member | Trustee | 1 | $0 |
James Lytle Board Member | Trustee | 5 | $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 | $98,898 |
| Noncash contributions included in lines 1a–1f | $50,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $98,898 |
| Total Program Service Revenue | $0 |
| Investment income | $146,044 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $707,916 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $953,305 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $200,888 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $267,574 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,998 |
| Savings and temporary cash investments | $269,183 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $80,849 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,575,268 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $768,973 |
| Total assets | $6,714,271 |
| Accounts payable and accrued expenses | $5,800 |
| 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 | $1,480,000 |
| Other liabilities | $2,996,993 |
| Total liabilities | $4,482,793 |
| Net assets without donor restrictions | -$648,802 |
| Net assets with donor restrictions | $2,880,280 |
| 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 | $6,714,271 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bbc Foundation Inc has recieved totaling $14,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Wabash County Inc North Manchester, IN PURPOSE: GENERAL PURPOSE | $14,000 |
Endowment Analysis
| Beg. Balance | $2,852,004 |
| Earnings | -$164,943 |
| Net Contributions | $53,000 |
| Other Expense | $101,411 |
| Ending Balance | $2,638,650 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Ahava Foundation Kearny, NJ | $69,246,321 | $13,538,690 |
The Rona Jaffe Foundation Dix Hills, NY | $31,757,116 | $2,944,285 |
Lostand Foundation Inc Cold Spring, NY | $0 | $2,083,089 |
Enterprise Foundation Tr New York, NY | $11,495,685 | $0 |
Shoreland Foundation Inc Lloyd Harbor, NY | $17,307,030 | $9,179,290 |
Gerald And Janet Carrus Foundation Wilmington, DE | $5,331,179 | $423,703 |
Summit Foundation Inc Getzville, NY | $1,308,590 | $48,121 |
Dale Kutnick And Laura Gordon Kutnick Foundation Inc Pennington, NJ | $16,101,991 | $2,420,688 |
Roe Foundation Inc New York, NY | $4,790,106 | $5,727,059 |
Dreams R Us Foundation Shoreham, NY | $16,620,968 | $1,291,461 |
Virginia Cretella Mars Foundation New York, NY | $17,242,277 | $1,956,099 |
Ira M Resnick Foundation Inc New York, NY | $804,882 | $1,000,085 |