Purpose Foundation
- Assets
- $46.9k
- Revenue
- $11.6k
- Investments
- $42.8k
- Employees
- 0
- Location
- Malvern, PA
- Founding
- 08/2015
- Data as of
- 12/2022
- EIN
- 47-2022288
Organization Overview
Purpose Foundation is located in Malvern, PA. The organization was established in 2015. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Purpose Foundation 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, Purpose Foundation generated $11.6k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 73.3% each year . All expenses for the organization totaled $3.5k during the year ending 12/2022. While expenses have increased by 5.8% per year over the past 4 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edwin R Boynton President/sect'y/treas/dir | 5 | $0 | |
Thomas D Boynton Director | 2 | $0 | |
Thomas Blamey Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $9,500 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,407 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $739 |
| Capital Gain Net Income | $739 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $11,646 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $37 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $44 |
| Total operating and administrative expenses | $681 |
| Contributions, gifts, grants paid | $2,800 |
| Total expenses and disbursements | $3,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $477 |
| Savings and temporary cash investments | $3,647 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $37,129 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $46,948 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Purpose Foundation has awarded $2,800 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
OMENA INC PURPOSE: GRANT TO ANOTHER 501(C)(3) ORGANIZATION | $1,100 |
ST MICHAEL'S EPISCOPAL CHURCH PURPOSE: GRANT TO ANOTHER 501(C)(3) ORGANIZATION | $600 |
BLOODWATER PURPOSE: GRANT TO ANOTHER 501(C)(3) ORGANIZATION | $1,100 |