Provision Trust Inc
- Assets
- $13.0m
- Revenue
- $736.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Knoxville, TN
- Founding
- 07/2019
- Data as of
- 12/2022
- EIN
- 27-2029644
Organization Overview
Provision Trust Inc is located in Knoxville, TN. The organization was established in 2019. 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. Provision Trust 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 12/2022, Provision Trust Inc generated $736.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (8.3%) each year. All expenses for the organization totaled $202.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (24.4%) per year over the past 5 years. 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
IN FURTHERANCE OF THE MISSIONS AND VISIONS OF NCCF AND GLOBAL GENEROSITY, PROVISION TRUST ENGAGES IN TWO PRIMARY OPERATIONS. FIRST, IT IS A GRANT-MAKING ENTITY. PROVISION TRUST UTILIZES A GRANT APPLICATION PROCESS WHEREBY APPLICANTS PROVIDE CERTAIN REQUESTED INFORMATION FOR REVIEW BY THE BOARD OF DIRECTORS. THE BOARD CONSIDERS EACH GRANT REQUEST AND DETERMINES, BY A MAJORITY VOTE, WHETHER OR NOT TO APPROVE A GRANT. GRANTS ARE ONLY MADER TO ORGANIZATIONS WHOSE ACTIVITIES ARE CONSISTENT WITH THE MISSION AND VALUES OF NCCF AND GLOBAL GENEROSITY. IN ADDITION TO IT'S GRANT MAKING OPERATIONS, PROVISION TRUST IS CURRENTLY A MEMBER OF FOUR NONPROFIT ENTITIES WHOSE FOCUS IS ON CANCER AWARENESS, RESEARCH AND TREATMENT WHICH IS CONSISTENT WITH THE CHARITABLE VISIONS OF THE SUPPORTED ORGANIZATIONS AND PROVISION TRUST. PROVISION TRUST PROVIDES FINANCIAL SUPPORT TO THESE ORGANIZATIONS BY EXTENDING LOANS FOR OPERATIONAL LIQUIDITY FOR QUALITY PATIENT CARE AND BY LEASING CERTAIN MEDICAL EQUIPMENT FOR T
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FURTHERANCE OF THE MISSIONS AND VISIONS OF NCCF AND GLOBAL GENEROSITY, PROVISION TRUST ENGAGES IN TWO PRIMARY OPERATIONS. FIRST, IT IS A GRANT-MAKING ENTITY. PROVISION TRUST UTILIZES A GRANT APPLICATION PROCESS WHEREBY APPLICANTS PROVIDE CERTAIN REQUESTED INFORMATION FOR REVIEW BY THE BOARD OF DIRECTORS. THE BOARD CONSIDERS EACH GRANT REQUEST AND DETERMINES, BY A MAJORITY VOTE, WHETHER OR NOT TO APPROVE A GRANT. GRANTS ARE ONLY MADER TO ORGANIZATIONS WHOSE ACTIVITIES ARE CONSISTENT WITH THE MISSION AND VALUES OF NCCF AND GLOBAL GENEROSITY. IN ADDITION TO IT'S GRANT MAKING OPERATIONS, PROVISION TRUST IS CURRENTLY A MEMBER OF FOUR NONPROFIT ENTITIES WHOSE FOCUS IS ON CANCER AWARENESS, RESEARCH AND TREATMENT WHICH IS CONSISTENT WITH THE CHARITABLE VISIONS OF THE SUPPORTED ORGANIZATIONS AND PROVISION TRUST. PROVISION TRUST PROVIDES FINANCIAL SUPPORT TO THESE ORGANIZATIONS BY EXTENDING LOANS FOR OPERATIONAL LIQUIDITY FOR QUALITY PATIENT CARE AND BY LEASING CERTAIN MEDICAL EQUIPMENT FOR THEIR OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Douglass President | OfficerTrustee | 1 | $0 |
Daryl Heald Director | Trustee | 1 | $0 |
David Wills Director | Trustee | 1 | $0 |
Anne Swartz Secretary | Officer | 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 | $614 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $614 |
| Total Program Service Revenue | $135,846 |
| Investment income | $0 |
| 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 | $736,514 |
| 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 | $29,829 |
| Fees for services: Accounting | $9,919 |
| 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 | $161,903 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $202,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,867 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,532,581 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,430,411 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,957,020 |
| Total assets | $13,010,879 |
| Accounts payable and accrued expenses | $30,516 |
| 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 | $8,756,902 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,787,418 |
| Net assets without donor restrictions | $4,223,461 |
| Net assets with donor restrictions | $0 |
| 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 | $13,010,879 |
Grants Awarded
Over the last fiscal year, Provision Trust Inc has awarded $770,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL CHRISTIAN FOUNDATION PURPOSE: PATIENT ASSISTANCE | $20,000 |
THE PROTON THERAPY CENTER PURPOSE: PATIENT ASSISTANCE | $750,000 |