Foundation For A Better Tomorrow Inc
- Assets
- $521.5k
- Revenue
- $51.3k
- Investments
- $494.5k
- Employees
- 0
- Location
- Randallstown, MD
- Founding
- 11/2013
- Data as of
- 12/2023
- EIN
- 46-2659347
Organization Overview
Foundation For A Better Tomorrow Inc is located in Randallstown, MD. The organization was established in 2013. 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. Foundation For A Better Tomorrow 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 12/2023, Foundation For A Better Tomorrow Inc generated $51.3k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $38.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Wilhelm C0-Treasurer | 0 | $0 | |
Lee Wilhelm Co-Treasurer | 0 | $0 | |
Benjamin Wilhelm Director | 0 | $0 | |
Andrea Wilhelm Secretary | 0 | $0 | |
Thomas R Knoche President | 0 | $0 | |
Nadine Knoche Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $30,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $13,455 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,827 |
| Capital Gain Net Income | $7,827 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $51,282 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $15 |
| Taxes | $248 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $2,877 |
| Contributions, gifts, grants paid | $36,000 |
| Total expenses and disbursements | $38,877 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $27,007 |
| 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 | $17,486 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $521,540 |
| 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 A Better Tomorrow Inc has awarded $36,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CHAMA PEAKE LAND ALLIANCE PURPOSE: UNRESTRICTED | $10,000 |
CHURCH OF ST ANDREW THE APOSTLE PURPOSE: UNRESTRICTED | $6,000 |
JEWS UNITED FOR JUSTICE PURPOSE: UNRESTRICTED | $10,000 |
CHIEF AND CALLA BELL SCHOLARSHIP FOUNDATIONS PURPOSE: UNRESTRICTED | $10,000 |