Power Foundation Inc
- Assets
- $2.8m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 6
- Location
- Piedmont, SC
- Founding
- 01/2011
- Data as of
- 12/2021
- EIN
- 27-3284156
Organization Overview
Power Foundation Inc is located in Piedmont, SC. The organization was established in 2011. According to its NTEE Classification (X84) the organization is classified as: Religious Radio, under the broad grouping of Religion-Related and related organizations. As of 12/2023, Power Foundation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Power 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 12/2021, Power Foundation Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 7.0% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING THE DEVELOPMENT AND SUSTAINMENT OF CHRISTIAN RADIO BROADCASTING. THE ORGANIZAION HAS CONSTRUCTED A NETWORK OF RADIO STATIONS TO BROADCAST CHRISTIAN CONTENT UNDER THE NAME THE LIFE FM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTING THE DEVELOPMENT AND SUSTAINMENT OF CHRISTAIN RADIO BROADCASTING. THE ORGANIZATAION HAS CONSTRUCTED A NETWORK OF RADIO STATIONS THAT BROADCAST CHRISTIAN CONTENT UNDER THE NAME THE LIFE FM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Bliss Director | Trustee | 1 | $0 |
Mark Mcclure President | Trustee | 1 | $0 |
John Trent Counsel | Trustee | 0 | $0 |
Jim Robinson Director | Officer | 40 | $0 |
Carolyn Mcclure Robinson Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,101,086 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,020 |
| 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 | $1,686,399 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $285,362 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,510 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,518 |
| Fees for services: Accounting | $5,971 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $120,499 |
| Advertising and promotion | $129,573 |
| Office expenses | $23,378 |
| Information technology | $10,779 |
| Royalties | $0 |
| Occupancy | $93,821 |
| Travel | $4,796 |
| 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 | $80,175 |
| Insurance | $12,205 |
| All other expenses | $0 |
| Total functional expenses | $1,172,906 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,910 |
| Savings and temporary cash investments | $336,139 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,962 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,869,271 |
| Other assets | $3,102 |
| Total assets | $2,773,175 |
| Accounts payable and accrued expenses | $51,027 |
| 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 | $12,519 |
| Unsecured mortgages and notes payable | $44,426 |
| Other liabilities | $0 |
| Total liabilities | $107,972 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,665,203 |