Backpacks For Life Inc
- Assets
- $420.8k
- Revenue
- $332.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Jersey City, NJ
- Founding
- 11/2014
- Data as of
- 12/2022
- EIN
- 47-1281873
Organization Overview
Backpacks For Life Inc is located in Jersey City, NJ. The organization was established in 2014. According to its NTEE Classification (T19) the organization is classified as: Support N.E.C., 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. Backpacks For Life 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 12/2022, Backpacks For Life Inc generated $332.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 32.5% each year . All expenses for the organization totaled $296.6k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE OF THE ORGANIZATION IS TO HELP HOMELESS AND DISADVANTAGED VETERANS BY PROVIDING THEM WITH DAILY LIFE ESSENTIALS AS WELL AS COMMUNICATE TO THEM ABOUT THE VARIOUS PROGRAMS AND AGENCIES THAT ARE IN PLACE TO HELP THEM ADAPT AND SUCCEED AS THEY TRANSITION TO LIFE AFTER SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BACKPACKS PROGRAM THE ORGANIZATION DISTRIBUTES BACKPACKS CONTAINING THE DAILY ESSENTIALS AT VARIOUS EVENTS HELD THROUGHOUT THE YEAR. BACKPACKS AND THE SUPPLIES THAT ARE DELIVERED IN THEM ARE MAINLY ACQUIRED THROUGH DONATION AND PURCHASE. THE ORGANIZATION HAS ALSO DEVELOPED A PROPRIETARY BACKPACK THAT THEY WILL DISTRIBUTE AS PART OF THIS PROGRAM.
THE ORGANIZATION HAS DEVELOPED AN ONLINE RESOURCE PORTAL, ROGER, WHERE VETERANS AND THEIR FAMILIES CAN SEARCH FOR RESOURCES IN THEIR AREA. AS PART OF THIS PROGRAM, THE ORGANIZATION GETS DIRECTLY INVOLVED WITH SOME OF THE MOST AT RISK VETERANS. SERVICES TO THESE VETERANS INCLUDES COUNSELING ON WHERE AND HOW TO FIND THE HELP THEY MAY NEED IN A QUICK AND EFFICIENT MANNER. CRITICAL ASSISTANCE MAY ALSO BE PROVIDED FOR HOUSING, TRANSPORTATION, AND FOOD. SPECIAL PROJECTS MAY ALSO BE CATAGORIZED TO THIS PROGRAM.
TO FACILITATE THE PROCUREMENT OF PPE FOR VARIOUS ORGANIZATIONS AND VETERANS AGENCIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexa Modero Exec. Director | Officer | 35 | $24,000 |
Brett D'alessandro President | Officer | 0 | $0 |
James Piazza Treasurer | Officer | 0 | $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 | $313,116 |
| Noncash contributions included in lines 1a–1f | $104,898 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $313,116 |
| Total Program Service Revenue | $0 |
| Investment income | $81 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $19,063 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $332,260 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $24,000 |
| Compensation of current officers, directors, key employees. | $3,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,898 |
| Payroll taxes | $3,116 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,770 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,280 |
| Advertising and promotion | $5,365 |
| Office expenses | $2,160 |
| Information technology | $8,222 |
| Royalties | $0 |
| Occupancy | $9,499 |
| Travel | $3,302 |
| 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 | $23,806 |
| Insurance | $3,222 |
| All other expenses | $12,272 |
| Total functional expenses | $296,611 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $163,970 |
| 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 | $225,294 |
| Prepaid expenses and deferred charges | $3,238 |
| Net Land, buildings, and equipment | $5,962 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $22,300 |
| Other assets | $0 |
| Total assets | $420,764 |
| Accounts payable and accrued expenses | $3,867 |
| 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 | $3,867 |
| Net assets without donor restrictions | $416,897 |
| 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 | $420,764 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Backpacks For Life Inc has recieved totaling $299.
| Awarding Organization | Amount |
|---|---|
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 05/14/21 | $234 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 07/25/21 | $38 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 12/03/21 | $27 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bread & Roses Community Fund Philadelphia, PA | $8,957,531 | $3,374,785 |
Imamia Medics International Inc Princeton, NJ | $2,935,135 | $3,395,301 |
Center For Discovery Magnet Services Corporation Harris, NY | $189,155 | $1,104,606 |
Confluence Philanthropy Inc New York, NY | $2,455,655 | $2,622,242 |
Fk Charitable Foundation Highland Mills, NY | $389,031 | $0 |
Jewish Community Properties Inc Cherry Hill, NJ | $10,959,629 | $182,673 |
Maud And Burton Goldfield Family Foundation Corporation Wilmington, DE | $23,035,996 | $5,604,401 |
Ugc Foundation Inc New Rochelle, NY | $4,768,783 | $576,034 |
M66 Foundation Inc New York, NY | $2,428,424 | $272,743 |
F Y Eye Inc New York, NY | $2,448,782 | $513,615 |
Backpacks For Life Inc Jersey City, NJ | $420,764 | $332,260 |
Philanthropy Delaware Inc Wilmington, DE | $348,518 | $292,682 |