Broomtree Foundation
- Assets
- $3.6m
- Revenue
- $122.3k
- Investments
- $3.2m
- Employees
- 0
- Location
- Cornelius, NC
- Founding
- 05/2015
- Data as of
- 11/2023
- EIN
- 46-1592255
Organization Overview
Broomtree Foundation is located in Cornelius, NC. The organization was established in 2015. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Broomtree 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 11/2023, Broomtree Foundation generated $122.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (26.7%) each year. All expenses for the organization totaled $257.9k during the year ending 11/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Broomtree Foundation has awarded 58 individual grants totaling $1,710,267. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory Provenzano Director | 0 | $0 | |
Sheryl Provenzano Director | 0 | $0 | |
Autumn Provenzano Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $141,993 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$19,724 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $122,269 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $25,911 |
| Contributions, gifts, grants paid | $232,000 |
| Total expenses and disbursements | $257,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2 |
| Savings and temporary cash investments | $490,411 |
| 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 | $3,150,955 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,641,368 |
| 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, Broomtree Foundation has awarded $232,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
FREEDOM HOUSE CHURCH PURPOSE: TO FURTHER CHRISTIAN MINISTRIES | $25,000 |
CROSS EXAMINED ORG PURPOSE: TO FURTHER CHRISTIAN MINITRIES | $50,000 |
MULTIPLY CHURCH ORG PURPOSE: TO FURTHER CHRISTIAN MINISTRIES | $65,000 |
FAITH MEMORIAL BAPTIST CHURCH PURPOSE: TO FURTHER CHRISTIAN MINITRIES | $35,000 |
THRIVE WORSHIP CENTER PURPOSE: TO FUTHER CHRISTIAN MINITRIES | $50,000 |
ABOVE AND BEYOND PURPOSE: IMPROVE AFTERSCHOOL PROGRAMS | $2,500 |