P O W E R Foundation Inc
- Assets
- $11.3k
- Revenue
- $23.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- 08/2007
- Data as of
- 12/2023
- EIN
- 26-0343071
Organization Overview
P O W E R Foundation Inc is located in Baltimore, MD. The organization was established in 2007. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. P O W E R 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 12/2023, P O W E R Foundation Inc generated $23.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $17.5k during the year ending 12/2023. While expenses have increased by 1.2% per year over the past 7 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 2016, P O W E R Foundation Inc has awarded 68 individual grants totaling $148,400. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael C Ford Pres, Treas, Director | 5 | $0 | |
Vanessa A Watson-Ford Vice-Pres, Director | 5 | $0 | |
Adriane I Davis Secretary, Director | 1 | $0 | |
Karen Y Bond Director | 1 | $0 | |
William F Kornegay Jr Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $23,000 |
| 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 | $23,000 |
| 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 | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,272 |
| Total operating and administrative expenses | $2,482 |
| Contributions, gifts, grants paid | $15,000 |
| Total expenses and disbursements | $17,482 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,286 |
| 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 | $11,286 |
| 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, P O W E R Foundation Inc has awarded $15,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
A BETTER CHANCE PURPOSE: EDUCATION | $500 |
AMERICAN INDIAN COLLEGE FUND PURPOSE: EDUCATION | $500 |
BALTIMORE EDUCATIONAL SCHOLARSHIP TRUST PURPOSE: EDUCATION | $5,000 |
POSSE FOUNDATION PURPOSE: EDUCATION | $500 |
PREP FOR PREP PURPOSE: EDUCATION | $500 |
ST BENEDICT'S PREPARATORY SCHOOL PURPOSE: EDUCATION | $5,000 |