It Works Gives Back Foundation Inc
- Assets
- $73.6k
- Revenue
- $44.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Palmetto, FL
- Founding
- 03/2015
- Data as of
- 12/2023
- 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 12/2023, It Works Gives Back Foundation Inc generated $44.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (20.3%) each year. All expenses for the organization totaled $68.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, It Works Gives Back Foundation Inc has awarded 70 individual grants totaling $1,844,542. 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
2023
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 TEN NONPROFIT 501(C)(3) ORGANIZATIONS WITH $62,000 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 |
Kristin Pentecost Director | Trustee | 2 | $0 |
Amanda Clark Director | Trustee | 2 | $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 | $42,719 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,719 |
| Total Program Service Revenue | $0 |
| Investment income | $2,161 |
| 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 | $44,880 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $62,000 |
| 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 | $1,747 |
| Fees for services: Accounting | $1,535 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,455 |
| 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 | $1,857 |
| Total functional expenses | $68,594 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,646 |
| Savings and temporary cash investments | $57,905 |
| 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 | $0 |
| Total assets | $73,551 |
| 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 | $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 | $73,551 |
| Total liabilities and net assets/fund balances | $73,551 |
Grants Awarded
Over the last fiscal year, It Works Gives Back Foundation Inc has awarded $62,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDREN'S CUP PURPOSE: TO BRING CHILDREN OUT OF THE CYCLE OF POVERTY TO BECOME CONTRIBUTORS TO THEIR COMMUNITIES AS LEADERS AND BUSINESS PEOPLE. | $12,000 |
GARY SINISE FOUNDATION PURPOSE: VETERANS SUPPORT | $10,000 |
SELAH FREEDOM INC PURPOSE: TO BRING SOLUTIONS TO SURVIVORS OF SEX TRAFFICKING AND EXPLOITATION. | $10,000 |
SAMARITANS PURSE PURPOSE: GENERAL SUPPORT | $10,000 |
HOPE FAMILY SERVICES PURPOSE: TO PROMOTE SAFETY, STRENGTH AND WELL-BEING FOR VICTIMS AND SURVIVORS OF DOMESTIC VIOLENCE AND THEIR CHILDREN IN MANATEE COUNTY (FLORIDA). | $10,000 |
THE PAYTON WRIGHT FOUNDATION PURPOSE: FINANCIALLY ASSISTS FAMILIES WHO HAVE CHILDREN BEING TREATED FOR CANCER OF THE BRAIN AND SPINAL CORD. PROGRAMS INCLUDE THE GAS CARD PROGRAM, FAMILY FINANCIAL ASSISTANCE PROGRAM, AND THE PAYTON'S ANGELS PROGRAM. | $10,000 |