Driving Force Group Inc
- Assets
- $1.3m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 7
- Location
- Rockville, MD
- Founding
- 12/2012
- Data as of
- 12/2022
- EIN
- 45-4641567
Organization Overview
Driving Force Group Inc is located in Rockville, MD. The organization was established in 2012. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Driving Force Group Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Driving Force Group 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 12/2022, Driving Force Group Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $1.7m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Driving Force Group Inc has awarded 16 individual grants totaling $675,955. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
HELP CREATE AND SUPPORT A SOCIETY IN WHICH ALL PEOPLE ARE EQUAL AND TREATED WITH DIGNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WILLIAMS SISTERS FUND/VERIZON YPRC - CREATING EQUITY THROUGH EDUCATION AND PREVENTING AND EASING THE PAIN CAUSED BY SENSELESS ACTS OF VIOLENCE FROM HER HOMETOWN OF COMPTON TO COUNTRIES LIKE KENYA AND JAMAICA. WILLIAMS HAS USED HER PLATFORM AND RESOURCES TO BUILD AND FUND SCHOOLS, TO COMBAT RACISM IN COMMUNITIES, AND TO HEAL THE VICTIMS AND FAMILY MEMBERS OF THOSE AFFECTED BY VIOLENCE.
GERALD WALLACE FUND
WALTON FAMILY FUND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jenny Goldstock Wright CEO | OfficerTrustee | 40 | $363,958 |
George Nemphos President | OfficerTrustee | 2 | $0 |
Isha Price Director | Trustee | 2 | $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 | $1,283,560 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,283,560 |
| Total Program Service Revenue | $561,812 |
| Investment income | $3,540 |
| 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 | $1,848,912 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $245,000 |
| Grants and other assistance to domestic individuals. | $50,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $363,958 |
| Compensation of current officers, directors, key employees. | $33,232 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $139,955 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,904 |
| Payroll taxes | $25,907 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,012 |
| Fees for services: Accounting | $48,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,840 |
| Fees for services: Other | $284,704 |
| Advertising and promotion | $1,646 |
| Office expenses | $14,538 |
| Information technology | $13,836 |
| Royalties | $0 |
| Occupancy | $47,183 |
| Travel | $39,608 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $396 |
| Interest | $8,095 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,926 |
| Insurance | $12,281 |
| All other expenses | $9,885 |
| Total functional expenses | $1,723,642 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $505,621 |
| Savings and temporary cash investments | $6,259 |
| Pledges and grants receivable | $50,000 |
| Accounts receivable, net | $92,581 |
| 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 | $11,433 |
| Net Land, buildings, and equipment | $123,018 |
| Investments—publicly traded securities | $412,721 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,000 |
| Total assets | $1,251,633 |
| Accounts payable and accrued expenses | $84,675 |
| 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 | $147,429 |
| Other liabilities | $0 |
| Total liabilities | $232,104 |
| Net assets without donor restrictions | $381,375 |
| Net assets with donor restrictions | $638,154 |
| 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 | $1,251,633 |
Grants Awarded
Over the last fiscal year, Driving Force Group Inc has awarded $245,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
JUST GOOD BRANDS LLC PURPOSE: SCHOLARSHIP | $50,000 |
NACA-INSPIRED SCHOOLS NETWORK PURPOSE: SCHOLARSHIP | $50,000 |
MOORE PHILANTHROPY IMPACT PURPOSE: SCHOLARSHIP | $50,000 |
PARENT POWER LAB INC PURPOSE: SCHOLARSHIP | $50,000 |
ST LUKE METHODIST CHURCH PURPOSE: SCHOLARSHIP | $45,000 |