Porchlight Foundation Inc
- Assets
- $729.4k
- Revenue
- $66.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 03/2001
- Data as of
- 12/2021
- EIN
- 39-1980214
Organization Overview
Porchlight Foundation Inc is located in Madison, WI. The organization was established in 2001. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Porchlight 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, Porchlight Foundation Inc generated $66.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $6.2k during the year ending 12/2021. 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
TO SUPPORT PORCHLIGHT, INC. IN PROVIDING LOW-COST HOUSING ASSISTANCE AND RELATED SUPPORT SERVICES TO THOSE IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PORCHLIGHT FOUNDATION, INC. IS COMMITTED TO PROVIDING LOW-INCOME HOUSING ASSISTANCE AND RELATED SUPPORT SERVICES TO THOSE IN NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Mortenson Vice President | OfficerTrustee | 1 | $0 |
Luann Quella Treasurer | OfficerTrustee | 1 | $0 |
Jeff Femrite President | OfficerTrustee | 1 | $0 |
Karla Thennes Secretary | OfficerTrustee | 1 | $0 |
Mark Consigny Director | Trustee | 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 | $6,592 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,592 |
| Total Program Service Revenue | $0 |
| Investment income | $25,412 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $34,298 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $66,302 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $6,190 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $6,190 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,448 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $702,943 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $729,391 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $729,391 |
| 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 | $729,391 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Porchlight Foundation Inc has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Initatives Inc Chicago, IL | $14,770,458 | $3,114,149 |
S A Y Detroit Southfield, MI | $10,220,382 | $4,947,599 |
Lss Foundation Inc West Allis, WI | $32,868,828 | $1,061,850 |
Edward And Hannah M Rutledge Charities Inc Chippewa Falls, WI | $0 | $2,022,116 |
Episcopal Homes Foundation Of Minnesota St Paul, MN | $22,682,263 | $1,436,533 |
Wheda Foundation Inc Madison, WI | $1,008,183 | $1,000,000 |
A Hole In The Roof Foundation Southfield, MI | $248,794 | $866,547 |
Housing Action Coalition Of Waukesha County Inc Waukesha, WI | $1,671,468 | $1,634,041 |
Western Home Foundation Cedar Falls, IA | $4,665,350 | $1,131,480 |
Home Builders Association Of Greater Lansing Lansing, MI | $235,721 | $346,621 |
Southwest Iowa Housing Trust Fund Inc Atlantic, IA | $249,762 | $246,759 |
Waterloo Housing Trust Fund Waterloo, IA | $75,553 | $195,062 |