It Works Gives Back Foundation Inc
- Assets
- $157.7k
- Revenue
- $209.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Palmetto, FL
- Founding
- 03/2015
- Data as of
- 12/2021
- EIN
- 46-4384553
Organization Overview
It Works Gives Back Foundation Inc is located in Palmetto, FL. The organization was established in 2015. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. It Works Gives Back 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.
For the year ending 12/2021, It Works Gives Back Foundation Inc generated $209.2k 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 (7.0%) each year. All expenses for the organization totaled $183.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, It Works Gives Back Foundation Inc has awarded 66 individual grants totaling $1,932,849. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S MISSION CONSISTS OF DISTRIBUTING FUNDS AND ASSETS TO PUBLIC CHARITIES QUALIFYING UNDER INTERNAL REVENUE SECTION 501(C)(3). THE DISTRIBUTION OF FUNDS TO TAX EXEMPT PUBLIC CHARITIES IS FOR THE PURPOSE OF IMPROVING AND BENEFITTING SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FUTHERANCE OF ITS EXEMPT PURPOSE, THE FOUNDATION FUNDED FIFTEEN NONPROFIT 501(C)(3) ORGANIZATIONS WITH $139,247 OF CONTRIBUTIONS. SEE SCHEDULE I FOR A DETAILED LIST OF PUBLIC CHARITIES WHICH RECEIVED CONTRIBUTIONS FROM THE IT WORKS GIVES BACK FOUNDATION, INC. OF GREATER THAN $5,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cindy Pentecost Director, President, Treas | OfficerTrustee | 1.5 | $0 |
Amanda Clark Director | Trustee | 2 | $0 |
Kristin Pentecost Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $63,180 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $145,983 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $209,163 |
| Total Program Service Revenue | $0 |
| Investment income | $64 |
| 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 | $209,227 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $139,247 |
| 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 | $37,224 |
| Fees for services: Accounting | $5,406 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $1,192 |
| Total functional expenses | $183,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,916 |
| Savings and temporary cash investments | $90,699 |
| 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 | $1,095 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $157,710 |
| Accounts payable and accrued expenses | $1,292 |
| 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 | $1,292 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $156,418 |
| Total liabilities and net assets/fund balances | $157,710 |
Grants Awarded
Over the last fiscal year, It Works Gives Back Foundation Inc has awarded $115,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Sarasota, FL PURPOSE: TO BRING SOLUTIONS TO SURVIVORS OF SEX TRAFFICKING AND EXPLOITATION. | $25,000 |
Keller, TX PURPOSE: TO BRING CHILDREN OUT OF THE CYCLE OF POVERTY TO BECOME CONTRIBUTORS TO THEIR COMMUNITIES AS LEADERS AND BUSINESS PEOPLE. | $25,000 |
Boone, NC PURPOSE: GENERAL SUPPORT | $25,000 |
Bradenton, FL PURPOSE: TO ASSIST INDIVIDUALS TO LIVE INDEPENDENTLY BY PROVIDING NUTRITION AND CARING, SUPPORTING SERVICES. | $15,000 |
Nashville, TN PURPOSE: VETERANS SUPPORT | $15,000 |
Dallas, TX PURPOSE: GENERAL SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that It Works Gives Back Foundation Inc has recieved totaling $716.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $716 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Childrens Healthcare Charity Inc Palm Beach Gardens, FL | $5,074,981 | $9,745,793 |
Don And Angie Seta Foundation Boca Raton, FL | $0 | $7,457,065 |
The Savannah Community Foundation Inc Savannah, GA | $54,173,792 | $9,998,384 |
National Cancer Assistance Foundation Inc Daytona Beach, FL | $587,584 | $4,501,111 |
The Giving Kitchen Initiative Inc Atlanta, GA | $5,202,127 | $3,829,430 |
The Ironman Foundation Inc Tampa, FL | $9,463,048 | $2,918,187 |
Norcross Foundation Inc Jacksonville, FL | $12,948,336 | $5,280,220 |
All Star Childrens Foundation Inc Sarasota, FL | $12,316,461 | $3,561,174 |
Point Gammon Foundation Palm Beach, FL | $4,923,051 | $4,318,443 |
The Charlie & Moll Anderson Foundation Florence, AL | $11,730,320 | $5,057,663 |
Little Kings And Queens Inc Buford, GA | $180,816 | $1,313,209 |
Latham Foundation Atlanta, GA | $1,091,516 | $917,015 |