Philanthropy Tank Inc
- Assets
- $297.7k
- Revenue
- $451.7k
- Investments
- $0.0
- Employees
- 5
- Location
- West Palm Beach, FL
- Founding
- 01/2016
- Data as of
- 12/2019
- EIN
- 46-3206074
Organization Overview
Philanthropy Tank Inc is located in West Palm Beach, FL. The organization was established in 2016. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2019, Philanthropy Tank Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Philanthropy Tank 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 12/2019, Philanthropy Tank Inc generated $451.7k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 71.7% each year . All expenses for the organization totaled $429.7k during the year ending 12/2019. While expenses have increased by 64.2% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
PHILANTHROPY TANK, INC. CONDUCTS A NUMBER OF ACTIVITIES FOCUSED ON INCREASING BOTH THE AMOUNT AND EFFICIENCY OF PHILANTHROPIC GIVING AND PLANNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PHILANTHROPY TANK-PALM BEACH INVITES TEENAGE STUDENTS TO APPLY FOR FUNDING AND MENTORSHIP TO ESTABLISH A PROGRAM THAT WILL ADDRESS A PROBLEM IN THEIR COMMUNITY. THE PROGRAM EMPOWERS AND EQUIPS STUDENTS TO DEVELOP AND EXECUTE SUSTAINABLE INITIATIVES AND SOLUTIONS TO SOLVE THOSE PROBLEMS AND CREATE MEANINGFUL CHANGE.
PHILANTHROPY TANK-BALTIMORE INVITES TEENAGE STUDENTS TO APPLY FOR FUNDING AND MENTORSHIP TO ESTABLISH A PROGRAM THAT WILL ADDRESS A PROBLEM IN THEIR COMMUNITY. THE PROGRAM EMPOWERS AND EQUIPS STUDENTS TO DEVELOP AND EXECUTE SUSTAINABLE INITIATIVES AND SOLUTIONS TO SOLVE THOSE PROBLEMS AND CREATE MEANINGFUL CHANGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Brand Started May 2019 Executive Director - Palm Beach | Officer | 40 | $62,540 |
Joann Levy Started Sept 2019 Executive Director - Baltimore | Officer | 40 | $36,913 |
Carolyn Kost Thru May Executive Director | Officer | 40 | $29,846 |
William Meyer Secretary | OfficerTrustee | 1 | $0 |
Michael L Kohner Treasurer & Past-President | OfficerTrustee | 3 | $0 |
Richard M Flah Vice President | OfficerTrustee | 1 | $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 | $451,742 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $451,742 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $451,742 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $58,210 |
| 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. | $129,300 |
| Compensation of current officers, directors, key employees. | $6,465 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,658 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,742 |
| Payroll taxes | $12,721 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,775 |
| Fees for services: Accounting | $5,053 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,097 |
| Advertising and promotion | $68,431 |
| Office expenses | $4,637 |
| Information technology | $11,326 |
| Royalties | $0 |
| Occupancy | $7,055 |
| Travel | $3,036 |
| 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 | $0 |
| Insurance | $513 |
| All other expenses | $0 |
| Total functional expenses | $429,666 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $283,353 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,378 |
| Total assets | $297,731 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $189,016 |
| Net assets with donor restrictions | $108,715 |
| 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 | $297,731 |
Grants Awarded
Over the last fiscal year, Philanthropy Tank Inc has awarded $30,934 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
AMAZON MARKETPLACE PURPOSE: LITTLE ANGELS, STEM LAB, MAYAN GIRLS SUPPLIES | $9,161 |
APPLE INC PURPOSE: LITTLE ANGELS IPADS | $7,550 |
CONNISTON MIDDLE SCHOOL PURPOSE: SURFACE 71 FILTERS | $7,223 |
Delray Beach, FL PURPOSE: SHOES 2 U PROGRAM | $7,000 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Philanthropy Tank Inc has recieved totaling $188,200.
| Awarding Organization | Amount |
|---|---|
Volo Foundation West Palm Beach, FL PURPOSE: GENERAL | $100,000 |
Childrens Healthcare Charity Inc Palm Beach Gardens, FL PURPOSE: GENERAL SUPPORT | $25,200 |
Footlick Family Foundation Inc Pikesville, MD PURPOSE: GENERAL FUNDS | $12,500 |
T Rowe Price Foundation Baltimore, MD PURPOSE: YOUTH OPPORTUNITY | $10,000 |
Thalheimer-Eurich Charitable Fund Inc Baltimore, MD PURPOSE: PHILANTHROPY TANK BALTIMORE | $10,000 |
The United Way Of Central Maryland Inc Baltimore, MD PURPOSE: DESIGNATED AND OR GRANTED IN SUPPORT OF AGENCY PROGRAMS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mightycause Charitable Foundation Marianna, FL | $5,250,687 | $68,928,948 |
Tim Tebow Foundation Inc Jacksonville, FL | $44,406,420 | $40,166,030 |
In Touch Foundation Inc Atlanta, GA | $84,991,538 | $40,474,859 |
Elaine Nicpon Marieb Charitable Foundation Naples, FL | $63,080,385 | $8,696,635 |
The Florida Concrete Masonry Education Council Inc Gainesville, FL | $2,957,826 | $3,367,750 |
Parents With A Purpose Inc Atlanta, GA | $315,977 | $2,301,377 |
Global Generosity Inc Alpharetta, GA | $2,653,838 | $2,877,884 |
Jk And Db Gulley Mem Tuw J K Gulley Tr Orlando, FL | $0 | $486,471 |
Recovery Research Network Foundation Inc Atlantis, FL | $303,889 | $1,495,637 |
Geo Group Foundation Inc Boca Raton, FL | $194,115 | $1,477,065 |
Lake Oconee Academy Foundation Inc Greensboro, GA | $20,544,289 | $963,837 |
Alabama Symphony Endowment Birmingham, AL | $18,611,694 | $1,402,512 |