Bread Inc
- Assets
- $29.4m
- Revenue
- $761.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 12/2008
- Data as of
- 06/2021
- EIN
- 26-3407327
Organization Overview
Bread Inc is located in Washington, DC. The organization was established in 2008. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Bread 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 06/2021, Bread Inc generated $761.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.0% each year . All expenses for the organization totaled $44.2k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE BREAD, INC. IS TO PROVIDE FINANCIAL SUPPORT BY RAISING, MANAGING, AND DISTRIBUTING FUNDS ON BEHALF OF BREAD FOR THE CITY, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BREAD INC PROVIDE FINANCIAL SUPPORT BY RAISING, MANAGING, AND DISTRIBUTING FUNDS ON BEHALF OF BREAD FOR THE CITY INC (BFC) SO THAT BFC CAN CONTINUE TO PROVIDE VULNERABLE RESIDENTS OF WASHINGTON, DC. WITH COMPREHENSIVE SERVICES INCLUDING FOOD, CLOTHING, MEDICAL CARE, LEGAL, AND SOCIAL SERVICES IN AN ATMOSPHERE OF DIGNITY AND RESPECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Fee Vice Preside | OfficerTrustee | 2 | $0 |
Donald Friedman Secretary | OfficerTrustee | 2 | $0 |
Paul R Taskier President | OfficerTrustee | 1 | $0 |
Derek Thomas Treasurer | OfficerTrustee | 1 | $0 |
George Jones CEO | Officer | 10 | $0 |
Fatou Toure CFO | Officer | 10 | $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 | $760,706 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $760,706 |
| Total Program Service Revenue | $0 |
| Investment income | $1,081 |
| 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 | $761,787 |
| 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 | $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 | $4,936 |
| Advertising and promotion | $0 |
| Office expenses | $220 |
| 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 | -$86 |
| Insurance | $0 |
| All other expenses | $39,177 |
| Total functional expenses | $44,247 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $100,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,947,324 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,327,014 |
| Total assets | $29,424,338 |
| Accounts payable and accrued expenses | $386,091 |
| 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 | $23,444,124 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,295 |
| Total liabilities | $23,858,510 |
| Net assets without donor restrictions | $5,428,718 |
| Net assets with donor restrictions | $137,110 |
| 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 | $29,424,338 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bread Inc has recieved totaling $9,430.
| Awarding Organization | Amount |
|---|---|
Perkins Coie Foundation Seattle, WA PURPOSE: 2021 GOOD HOPE GALA (VIRTUAL EVENT), 2021 GOOD APPLE DINNER | $9,430 |
Endowment Analysis
| Beg. Balance | $50,000 |
| Ending Balance | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Richman Family Foundation Inc Baltimore, MD | $21,774,672 | $824,650 |
Venture Philanthropy Partners Inc Washington, DC | $4,166,381 | $6,325,429 |
Commonwealth Foundation V Richmond, VA | $38,532,929 | $6,620,642 |
Commonwealth Foundation Iv Richmond, VA | $38,533,029 | $6,621,693 |
R E B Foundation Richmond, VA | $74,287,615 | $7,129,947 |
Wythe-Bland Foundation Wytheville, VA | $49,336,372 | $2,855,357 |
National Heritage Foundation Inc Ashburn, VA | $4,189,529 | $1,236,211 |
Community First-Americas Charities Chantilly, VA | $570,100 | $1,672,923 |
Goodwill Works Of The Chesapeake Inc Baltimore, MD | $1,182,746 | $1,594,900 |
Pearlstone Family Fund Inc Baltimore, MD | $27,474,431 | $1,852,005 |
Wolasky Family Foundation Inc Baltimore, MD | $222,511 | $1,503,292 |
Tjf Holdings Llc Virginia Beach, VA | $0 | -$43,095 |