Business For Good Foundation Inc
- Assets
- $385.5k
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Saratoga Springs, NY
- Founding
- Data as of
- 12/2023
- EIN
- 32-0712694
Organization Overview
Business For Good Foundation Inc is located in Saratoga Springs, NY. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Business For Good 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.
Since 2023, Business For Good Foundation Inc has awarded 28 individual grants totaling $1,224,697. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION ENGAGES IN CHARITABLE GRANT-MAKING AND FINANCIAL SUPPORT OF CHARITABLE PROGRAMS OF VARIED TYPES TO SUPPORT INCLUDING ENTREPRENEURIAL SUPPORT FOR MINORITY-OWNED BUSINESSES AND IMPACT GIVING GRANTS TO LOCAL CHARITABLE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENGAGING IN CHARITABLE GRANT-MAKING AND FINANCIAL SUPPORT OF CHARITABLE PROGRAMS OF VARIED TYPES TO SUPPORT INCLUDING ENTREPRENEURIAL SUPPORT FOR MINORITY-OWNED BUSINESSES AND IMPACT GIVING GRANTS TO LOCAL CHARITABLE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa A Mitzen President/treasurer | OfficerTrustee | 1 | $0 |
Edward G Mitzen Vice President | OfficerTrustee | 1 | $0 |
Grace Mitzen Secretary | OfficerTrustee | 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 | $2,102,181 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,102,181 |
| Total Program Service Revenue | $0 |
| 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 | $2,102,181 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,441,401 |
| 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 | $230,922 |
| Fees for services: Legal | $6,892 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,011 |
| Office expenses | $580 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,537 |
| 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 | $0 |
| Insurance | $2,298 |
| All other expenses | $886 |
| Total functional expenses | $1,725,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $365,585 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,885 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $385,470 |
| Accounts payable and accrued expenses | $9,191 |
| 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 | $9,191 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $376,279 |
| Total liabilities and net assets/fund balances | $385,470 |
Grants Awarded
Over the last fiscal year, Business For Good Foundation Inc has awarded $1,224,697 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
ALZHEIMER'S ASSOCIATION PURPOSE: GENERAL NEEDS | $12,500 |
ALLIANCE 180 INC PURPOSE: GENERAL NEEDS | $25,000 |
EVERY MOTHER COUNTS PURPOSE: GENERAL NEEDS | $6,178 |
BLACK THEATRE UNITED PURPOSE: GENERAL NEEDS | $200,000 |
BUILDING ON LOVE INC PURPOSE: GENERAL NEEDS | $10,000 |
CAPITAL REGION CHAMBER FOUNDATION PURPOSE: GENERAL NEEDS | $136,400 |