50can Inc
- Assets
- $12.1m
- Revenue
- $37.1m
- Investments
- $0.0
- Employees
- 67
- Location
- Washington, DC
- Founding
- 03/2011
- Data as of
- 12/2022
- EIN
- 27-3069592
Organization Overview
50can Inc is located in Washington, DC. The organization was established in 2011. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. As of 12/2022, 50can Inc employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 50can 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, 50can Inc generated $37.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 23.9% each year . All expenses for the organization totaled $36.3m during the year ending 12/2022. While expenses have increased by 22.5% per year over the past 8 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 2015, 50can Inc has awarded 110 individual grants totaling $25,219,073. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
50CAN, INC. IS A NOT-FOR-PROFIT ORGANIZATION COMMITTED TO BUILDING THE FUTURE OF AMERICAN EDUCATION BY DELIVERING ON FIVE CORE PROMISES TO THE COUNTRY'S CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FISCAL SPONSORSHIPS50CAN OFFERS FISCAL SPONSORSHIP SERVICES TO PARTNER ORGANIZATIONS THAT WORK WITHIN THE ORGANIZATION'S BELIEVE IN BETTER POLICY FRAMEWORK. TO DATE, THESE RELATIONSHIPS HAVE BEEN OFFERED TO NEW ORGANIZATIONS AWAITING INDEPENDENT 501(C)(3) STATUS OR TO THOSE WHO WANT TO UTILIZE 50CAN'S FINANCIAL AND ADMINISTRATIVE MANAGEMENT.
ADVOCATE FOR POLICY CHANGE50CAN'S EXPERT STAFF TEAMS UP WITH LOCAL ADVOCACY LEADERS TO DEVELOP AND ENACT STUDENT AND FAMILY-CENTERED POLICY CHANGE.
COMMUNICATIONS & MOBILIZATION50CAN HELPS LOCAL LEADERS CREATE A MOVEMENT OF INFORMED CITIZENS THROUGH MEDIA WORK, E-ADVOCACY, PUBLICATIONS, GRAPHIC DESIGN, PARTNERSHIPS WITH LIKE-MINDED CIVIC AND COMMUNITY GROUPS, PHONE BANKS, PETITIONS AND RALLIES. AS A RESULT, 50CAN LEADERS ARE FREQUENTLY FEATURED IN TELEVISION, ONLINE AND PRINT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marc Magee CEO & Treasurer | OfficerTrustee | 40 | $314,179 |
Michael Phillips Chair | OfficerTrustee | 1 | $0 |
Ann Borowiec Director | Trustee | 1 | $0 |
Campbell Brown Director | Trustee | 1 | $0 |
Katherine Haley Director | Trustee | 1 | $0 |
Deepa Javeri Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lavinia Group Llc Academic Services | 12/30/22 | $1,265,000 |
Defcon Consulting Llc Project Management Consulting | 12/30/22 | $130,054 |
Landscape Media Llc Communications Consulting | 12/30/22 | $122,860 |
Whc Consulting Project Management Consulting | 12/30/22 | $137,375 |
Lisa Ruda Project Management Consulting | 12/30/22 | $123,426 |
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 | $33,899,673 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,899,673 |
| Total Program Service Revenue | $3,179,574 |
| Investment income | $197 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,110 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $37,090,533 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,698,911 |
| 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. | $1,051,973 |
| Compensation of current officers, directors, key employees. | $534,833 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,197,047 |
| Pension plan accruals and contributions | $189,248 |
| Other employee benefits | $463,343 |
| Payroll taxes | $463,419 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $91,794 |
| Fees for services: Accounting | $129,864 |
| Fees for services: Lobbying | $527,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,724,527 |
| Advertising and promotion | $245,140 |
| Office expenses | $300,107 |
| Information technology | $448,910 |
| Royalties | $0 |
| Occupancy | $84,646 |
| Travel | $296,923 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $265,045 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,302 |
| Insurance | $54,733 |
| All other expenses | $0 |
| Total functional expenses | $36,341,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,202,909 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,165,597 |
| 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 | $15,360 |
| Prepaid expenses and deferred charges | $49,538 |
| Net Land, buildings, and equipment | $563 |
| Investments—publicly traded securities | $68,455 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $634,760 |
| Total assets | $12,137,182 |
| Accounts payable and accrued expenses | $418,917 |
| 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 | $188,019 |
| Total liabilities | $606,936 |
| Net assets without donor restrictions | $4,085,903 |
| Net assets with donor restrictions | $7,444,343 |
| 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 | $12,137,182 |
Grants Awarded
Over the last fiscal year, 50can Inc has awarded $22,645,911 in support to 86 organizations.
| Grant Recipient | Amount |
|---|---|
DEMOCRACY PREP NEW YORK CHARTER SCHOOLS PURPOSE: TO SUPPORT SUMMERBOOST | $1,184,985 |
SUCCESS ACADEMY CHARTER SCHOOLS PURPOSE: TO SUPPORT SUMMERBOOST | $904,496 |
HARLEM VILLAGE ACADEMIESVILLAGE ACADEMIES NETWORK PURPOSE: TO SUPPORT SUMMERBOOST | $593,520 |
HARLEM CHILDREN'S ZONE PROMISE ACADEMY PURPOSE: TO SUPPORT SUMMERBOOST | $786,800 |
DREAM CHARTER SCHOOL PURPOSE: TO SUPPORT SUMMERBOOST | $2,486,680 |
BROOKLYN PROSPECT CHARTER SCHOOL PURPOSE: TO SUPPORT SUMMERBOOST | $566,160 |