Power Foundation Inc
- Assets
- $2.4m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 7
- Location
- Piedmont, SC
- Founding
- 01/2011
- Data as of
- 12/2020
- 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 12/2021, Power Foundation Inc employed 7 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 12/2020, Power Foundation Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $1.2m during the year ending 12/2020. While expenses have increased by 8.1% per year over the past 6 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
2020
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Robinson Secretary | Officer | 1 | $0 |
Jim Robinson President | Officer | 40 | $0 |
Mark Mcclure Director | Trustee | 1 | $0 |
Elizabeth K Mcclure Director | Trustee | 40 | $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 | $1,485,011 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,485,011 |
| Total Program Service Revenue | $422,995 |
| Investment income | $177 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,700 |
| Net Gain/Loss on Asset Sales | $12,290 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,926,173 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $27,590 |
| 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. | $24,790 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $133,917 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,224 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,124 |
| Fees for services: Accounting | $6,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $181,371 |
| Advertising and promotion | $63,283 |
| Office expenses | $22,025 |
| Information technology | $84,768 |
| Royalties | $45,339 |
| Occupancy | $204,441 |
| Travel | $7,086 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $303 |
| Interest | $16,610 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $89,508 |
| Insurance | $11,768 |
| All other expenses | $225,504 |
| Total functional expenses | $1,169,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,418 |
| Savings and temporary cash investments | $13,526 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,062 |
| 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 | $537,816 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,749,271 |
| Other assets | $3,102 |
| Total assets | $2,390,195 |
| Accounts payable and accrued expenses | $53,232 |
| 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 | $35,753 |
| Unsecured mortgages and notes payable | $199,700 |
| Other liabilities | $0 |
| Total liabilities | $288,685 |
| Net assets without donor restrictions | $2,101,510 |
| 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 | $2,390,195 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Power Foundation Inc has recieved totaling $30,355.
| Awarding Organization | Amount |
|---|---|
Bill And Connie Timmons Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $30,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $355 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bible Broadcasting Network Incorporated Charlotte, NC | $94,578,344 | $19,453,419 |
Christian Research Institute Inc Charlotte, NC | $3,392,199 | $4,551,124 |
Delmarva Education Association Winston Salem, NC | $5,513,140 | $1,268,919 |
Power Foundation Inc Piedmont, SC | $2,390,195 | $1,926,173 |
Augusta Radio Fellowship Institute Inc Grovetown, GA | $10,451,546 | $1,051,845 |
Proclaim My Work Inc Dahlonega, GA | $2,497,591 | $306,292 |
C2a This Week Inc Raleigh, NC | $22,797 | $251,871 |
Gospel Broadcasting Inc Dobson, NC | $174,195 | $237,312 |
Mediatrix Sc Inc Greer, SC | $492,612 | $166,875 |
Word Christian Broadcasting Inc Douglasville, GA | $576,412 | $192,110 |
Charlotte Advent Media Corporation Charlotte, NC | $835,947 | $151,059 |
88 5 The Truth Inc Columbus, GA | $287,969 | $0 |