Pyramid Peak Foundation
- Assets
- $178.8m
- Revenue
- $983.6k
- Investments
- $174.0m
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 08/2012
- Data as of
- 12/2022
- EIN
- 45-3444341
Organization Overview
Pyramid Peak Foundation is located in Memphis, TN. The organization was established in 2012. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, 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. Pyramid Peak Foundation 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, Pyramid Peak Foundation generated $983.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (74.3%) each year. All expenses for the organization totaled $15.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
THE FOUNDATION PERFORMS NO DIRECT CHARITABLE ACTIVITIES. THE EXEMPT PURPOSE IS CARRIED OUT VIA CONTRIBUTIONS TO EXISTING CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James R Boyd Director | 2 | $0 | |
Melissa R Russell Cfo/treasurer | 40 | $237,823 | |
O Mason Hawkins President/director | 10 | $0 | |
Andrew R Mccarroll Director | 2 | $0 | |
Sherry D Crane Business Manager | 40 | $105,500 | |
Michelle Armstrong Instruction Support | 40 | $200,267 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Edspace Consulting | 12/30/20 | $150,000 |
Health And Education Consultants Llc | 12/30/20 | $140,000 |
Miriam Dean Stokes Brown | 12/30/20 | $88,070 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,871 |
| Dividends & Interest | $1,322,165 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$342,450 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $983,586 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $237,823 |
| Other employee salaries and wages | $305,767 |
| Pension plans, employee benefits | $215,043 |
| Interest | $0 |
| Taxes | $32,658 |
| Depreciation | $57,300 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,555 |
| Printing and publications | $355 |
| Other expenses | $799,294 |
| Total operating and administrative expenses | $1,719,852 |
| Contributions, gifts, grants paid | $13,850,000 |
| Total expenses and disbursements | $15,569,852 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,683,725 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $62,974,440 |
| Net Land, buildings, and equipment | $435,036 |
| Other assets | $706,406 |
| Total assets | $178,837,976 |
| Accounts payable and accrued expenses | $10,237 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,237 |
Grants Awarded
Over the last fiscal year, Pyramid Peak Foundation has awarded $77,630,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY FDN OF GREATER MEMPHIS PURPOSE: VARIOUS | $77,380,000 |
PROJECT GRAD USA PURPOSE: EDUCATION | $250,000 |