Tom Tom Foundation
- Assets
- $119.4k
- Revenue
- $507.2k
- Investments
- $0.0
- Employees
- 8
- Location
- Charlottesville, VA
- Founding
- 03/2014
- Data as of
- 06/2021
- EIN
- 46-2048771
Organization Overview
Tom Tom Foundation is located in Charlottesville, VA. The organization was established in 2014. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Tom Tom Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tom Tom 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 06/2021, Tom Tom Foundation generated $507.2k 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 (3.5%) each year. All expenses for the organization totaled $381.2k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (6.6%) per year over the past 7 years. 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 CELEBRATE AND EMPOWER THE FOUNDERS OF CREATIVE, CIVIC, AND ENTREPRENEURIAL PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2020, THE TOM TOM FOUNDATION CANCELLED ITS IN-PERSON EVENTS DUE TO THE COVID-19 PANDEMIC. THE FOUNDATION PIVOTED TO AN ONLINE FORMAT FOR A SERIES OF ROUNDTABLES, CONFERENCES, AND SUMMITS. THESE PROGRAMS FEATURED OVER 100 DIGITAL SESSIONS ACROSS 23 WEEKS, HIGHLIGHTING 263 LEADERS FROM COMMUNITIES ACROSS THE COUNTRY. OVER 3,840 IMPACT MAKERS PARTICIPATED. PROGRAM THESE CONTINUED TO HIGHLIGHT ISSUES OF CIVIC FLOURISHING AND ALSO OFFERED A FOCUS ON BUILDING CULTURE AND COMMUNITY FOR THE CITY OF CHARLOTTESVILLE. THE TOM TOM FOUNDATION RECEIVED $73,947 IN NON-CASH DONATIONS IN THE FORM OF SERVICES, DISCOUNTS, AND SPACE USE FROM BUSINESS, EDUCATIONAL, AND GOVERNMENT INSTITUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Beyer Executive Director | Officer | 40 | $55,567 |
Richard Beyer Trustee | Trustee | 1 | $0 |
John E Harding Trustee | Trustee | 1 | $0 |
Peter Caramanis Trustee | Trustee | 1 | $0 |
Paul G Beckert Trustee | Trustee | 1 | $0 |
Blake Hurt President | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $502,801 |
| Investment income | $840 |
| 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 | $507,188 |
| Statement of Expenses | |
|---|---|
| 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. | $55,567 |
| Compensation to disqualified persons | $187,467 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $884 |
| Other employee benefits | $18,847 |
| Payroll taxes | $18,055 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,751 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,675 |
| Advertising and promotion | $10,155 |
| Office expenses | $3,638 |
| Information technology | $8,785 |
| Royalties | $0 |
| Occupancy | $32,844 |
| Travel | $75 |
| 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 | $1,089 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $381,151 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,777 |
| 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 | $14,988 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $119,408 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $60,109 |
| 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 | $309,505 |
| Total liabilities | $369,614 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$250,206 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Tom Tom Foundation has recieved totaling $1,217.
| Awarding Organization | Amount |
|---|---|
Tesco Foundation Richmond, VA PURPOSE: OPERATIONS | $1,200 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $17 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Confederation Of Indian Industry Arlington, VA | $74,359,377 | $45,402,839 |
Roof Above Inc Charlotte, NC | $96,652,711 | $36,113,591 |
Ukraine House Dc Foundation Inc Washington, DC | $1,061,730 | $19,720,781 |
Chinese Culture And Community Service Center Inc Gaithersburg, MD | $7,709,480 | $10,886,588 |
Association Of Science-Technology Centers Incorporated Washington, DC | $7,016,883 | $7,242,482 |
National Indian Gaming Association Washington, DC | $8,458,922 | $8,172,394 |
Saudi Arabian U S Business Council Inc Vienna, VA | $3,546,346 | $2,319,248 |
Nashville International Center For Empowerment Nashville, TN | $897,200 | $2,966,739 |
Qatar-America Institute Washington, DC | $5,645,634 | $216,792 |
National Italian American Foundation Inc Washington, DC | $11,046,552 | $2,585,652 |
Arab Center Washington Inc Washington, DC | $1,324,287 | $2,306,023 |
Afro-American Cultural Center Inc Charlotte, NC | $10,610,750 | $1,926,817 |