Foundation For Financial Freedom And Entrepreneurship Inc
- Assets
- $798.8k
- Revenue
- $355.6k
- Investments
- $639.8k
- Employees
- 0
- Location
- Birmingham, AL
- Founding
- 02/2015
- Data as of
- 12/2022
- EIN
- 46-0818266
Organization Overview
Foundation For Financial Freedom And Entrepreneurship Inc is located in Birmingham, AL. The organization was established in 2015. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Financial Freedom And Entrepreneurship 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, Foundation For Financial Freedom And Entrepreneurship Inc generated $355.6k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $190.3k during the year ending 12/2022. While expenses have increased by 4.3% per year over the past 4 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.
Since 2020, Foundation For Financial Freedom And Entrepreneurship Inc has awarded 80 individual grants totaling $592,500. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ESTABLISH, MAINTAIN AND OPERATE PROGRAMS WHICH SUPPORT ENTREPRENEURSHIP AND TO SUPPORT AND MAKE DONATIONS/CONTRIBUTIONS TO OR ON BEHALF OF OTHER ORGANIZATIONS RECOGNIZED AS SECTION 501(C)(3) ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stewart H Welch III President | 1 | $0 | |
C Gregory Weyandt Secretary | 1 | $0 | |
Kimberly R Reynolds Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $333,661 |
| Interest on Savings | $18,216 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,481 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $215 |
| Total Revenue | $355,573 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $238 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7 |
| Total operating and administrative expenses | $1,275 |
| Contributions, gifts, grants paid | $189,000 |
| Total expenses and disbursements | $190,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $101,488 |
| Savings and temporary cash investments | $0 |
| 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 | $57,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $798,815 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Foundation For Financial Freedom And Entrepreneurship Inc has awarded $189,000 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY PURPOSE: MEDICAL | $1,000 |
BIG OAK RANCH PURPOSE: COMMUNITY | $1,000 |
ALZHEIMER'S OF CENTRAL ALABAMA PURPOSE: HEALTH & MEDICAL | $3,500 |
ADDICTION PREVENTION COALITION PURPOSE: MEDICAL SUPPORT ORGANIZATION | $2,500 |
BIRMINGHAM MUSIC CLUB PURPOSE: COMMUNITY FAMILY | $500 |
BIRMINGHAM ZOO PURPOSE: COMMUNITY | $500 |