Nema Foundation Inc
- Assets
- $33.7m
- Revenue
- $22.6m
- Investments
- $5.0m
- Employees
- 6
- Location
- Sarasota, FL
- Founding
- 07/2011
- Data as of
- 12/2022
- EIN
- 27-4357830
Organization Overview
Nema Foundation Inc, operating under the name Dba Provisionbridge, is located in Sarasota, FL. The organization was established in 2011. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Dba Provisionbridge employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dba Provisionbridge 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, Dba Provisionbridge generated $22.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $28.9m during the year ending 12/2022. While expenses have increased by 14.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVISIONBRIDGE EXISTS TO PROVIDE AN EASY, TAX-EFFICIENT WAY FOR INDIVIDUALS, FAMILIES AND ORGANIZATIONS TO GIVE CHARITABLY TO ORGANIZATIONS THAT PROVIDE CARE FOR THOSE IN NEED. DIFFICULT TIMES, RISING MEDICAL COSTS, NATURAL DISASTERS, AND OTHER PROBLEMS HAVE LEFT MORE AND MORE FAMILIES IN NEED OF FINANCIAL ASSISTANCE AND MORE FAMILIES AND ORGANIZATIONS WANTING TO HELP. RECOGNIZING THESE NEEDS LED A TEAM OF DEDICATED LEADERS IN THE NONPROFIT COMMUNITY TO START PROVISION BRIDGE. IN 2011, PROVISIONBRIDGE RECEIVED ITS DETERMINATION LETTER FROM THE IRS AS A 501-C3 ORGANIZATION, WITH THE GOAL OF HELPING MORE PEOPLE GIVE TO MEET THE NEEDS IN THEIR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEMA FOUNDATION (PROVISIONBRIDGE)EXISTS TO SUPPORT 501(C)(3) CHARITABLE ORGANIZATIONS FROM DONOR ADVISED FUNDS, WHICH ENABLE DONORS TO CONTRIBUTE ASSETS AND THEN RECOMMEND GRANTS FROM THE FUND TO CHARITIES THAT PROVIDE CARE FOR THOSE IN NEED. PROVISIONBRIDGE PERSONNEL ASSESS AND QUALIFY GRANTEES; THEREFORE, THE COSTS ASSOCIATED WITH THESE ACTIVITIES ARE INCLUDED IN THE PROGRAM SERVICES COMPONENT OF EXPENSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cheryl Green Exec. Dir./p | Trustee | 35 | $54,000 |
Mary Whitlock Secretary | Officer | 30 | $45,500 |
David Michael Franklin Director | Trustee | $0 | |
Brittany Green Director | Trustee | $0 | |
Terry Parker Director | Trustee | $0 | |
Jeff Whitlock Director | Trustee | $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 | $22,098,078 |
| Noncash contributions included in lines 1a–1f | $2,863,852 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,098,078 |
| Total Program Service Revenue | $0 |
| Investment income | $617,426 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$156,402 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,559,102 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $28,504,987 |
| 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. | $99,500 |
| Compensation of current officers, directors, key employees. | $19,900 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $124,168 |
| 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 | $38,439 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $112,528 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $20,177 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,165 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $29 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,228 |
| All other expenses | $0 |
| Total functional expenses | $28,947,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $852,737 |
| Savings and temporary cash investments | $6,553,859 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $147,492 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $21,182,560 |
| Investments—other securities | $4,979,377 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $33,716,025 |
| Accounts payable and accrued expenses | $25,070 |
| 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 | $0 |
| Total liabilities | $25,070 |
| Net assets without donor restrictions | $33,690,955 |
| 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 | $33,716,025 |
Grants Awarded
Over the last fiscal year, Nema Foundation Inc has awarded $10,424,922 in support to 34 organizations.
| Grant Recipient | Amount |
|---|---|
CAFE 1040 INC PURPOSE: SUPPORT 501(C)(3) CHARITABLE ORG | $12,000 |
BRIDGEWAY CHRISTIAN ACADEMY PURPOSE: SUPPORT 501(C)(3) CHARITABLE ORG | $105,000 |
CAPITOL COMMISSION PURPOSE: SUPPORT 501(C)(3) CHARITABLE ORG | $143,000 |
CONVERGE WORLDWIDE PURPOSE: SUPPORT 501(C)(3) CHARITABLE ORG | $10,000 |
CBMC INC PURPOSE: SUPPORT 501(C)(3) CHARITABLE ORG | $256,500 |
FAITH ASCENT MINISTRIES PURPOSE: SUPPORT 501(C)(3) CHARITABLE ORG | $10,000 |