2040 Foundation Inc
- Assets
- $107.9m
- Revenue
- -$421.1k
- Investments
- $84.0m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 46-3891359
Organization Overview
2040 Foundation Inc is located in Charlotte, NC. The organization was established in 2014. 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. 2040 Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2015, 2040 Foundation Inc has awarded 62 individual grants totaling $88,381,615. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ACCELERATE AMERICA'S CLEAN ENERGY FUTURE WITH CONSERVATIVE SOLUTIONS.
Describe the Organization's Program Activity:
THROUGH FINANCIAL ASSISTANCE AND EDUCATIONAL PROGRAMS, 2040 FOUNDATION INC PROVIDED EXTENSIVE RESEARCH AND ANALYSIS TO THE GENERAL PUBLIC, PROVIDED INSIGHTS TO FEDERAL AND STATE GOVERNMENT POLICY MAKERS ON THE BENEFITS OF CLEAN ENERGY SOLUTIONS, ENHANCED THE ABILITY OF FAITH-BASED PUBLIC CHARITIES TO SCALE UP THEIR SOCIAL IMPACT, AND SUPPORTED CLEAN ENERGY PROGRAMS BY PROVIDING FINANCIAL SUPPORT TO OTHER PUBLIC CHARITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay W Faison President | OfficerTrustee | 5 | $0 |
Matthew Eby Board Member | Trustee | 2 | $0 |
Bill Clements Board Member | Trustee | 2 | $0 |
Rich Powell Board Member | Trustee | 2 | $0 |
Dana Ring Board Member | Trustee | 2 | $0 |
Mark T Bruinooge Chief Financial Officer | Officer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Watermark Services Llc Financial Advisory, Accounting And Gener | 12/30/22 | $1,085,776 |
Anthro Marketing | 12/30/22 | $258,461 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $352,161 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$805,641 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$421,090 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,806,571 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $39,755 |
| Fees for services: Accounting | $70,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $970,930 |
| Fees for services: Other | $314,061 |
| Advertising and promotion | $0 |
| Office expenses | $1,220 |
| Information technology | $20,226 |
| Royalties | $0 |
| Occupancy | $6,714 |
| Travel | $40,975 |
| 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 | $10,263 |
| All other expenses | $0 |
| Total functional expenses | $17,286,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,598,179 |
| Savings and temporary cash investments | $2 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $363 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,681,787 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $88,495 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,784,968 |
| Investments—other securities | $84,046,052 |
| Investments—program-related | $1,354,881 |
| Intangible assets | $0 |
| Other assets | $8,313,302 |
| Total assets | $107,868,029 |
| Accounts payable and accrued expenses | $125,575 |
| 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 | $59,512 |
| Total liabilities | $185,087 |
| Net assets without donor restrictions | $107,682,942 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $107,868,029 |
Grants Awarded
Over the last fiscal year, 2040 Foundation Inc has awarded $15,806,571 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
CLEARPATH INC PURPOSE: Support for Clean Energy Innovation Initiatives | $2,712,196 |
THE NATIONAL CHRISTIAN FOUNDATION PURPOSE: Support Faith Based Initiatives | $120,000 |
GOLDMAN SACHS PHILANTHROPY FUND PURPOSE: Support of Community Initiatives | $5,621,000 |
COOL EFFECT INC PURPOSE: To reduce greenhouse gas emissions | $50,005 |
1ST STREET FOUNDATION PURPOSE: TO MAKE CLIMATE RISK ACCESSIBLE, EASY TO UNDERSTAND AND ACTIONABLE FOR INDIVIDUALS, GOVERNMENTS, AND INDUSTRY. | $4,500,000 |
AMERICAN FLOOD COALITION PURPOSE: Support of Community Initiatives | $2,112,120 |