323 Sbs Fund Inc

Organization Overview

323 Sbs Fund Inc is located in Trenton, NJ. The organization was established in 2015. According to its NTEE Classification (L12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 323 Sbs Fund 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, 323 Sbs Fund Inc generated $20.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (28.3%) each year. All expenses for the organization totaled $28.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE 323 SBS FUND IS A CHARITABLE FUND SUPPORTING THE GENERAL MISSION OF LUTHER ARMS,INC -A LUTHERAN CHURCH RELATED HUD HOUSING FACILITY IN TRENTON,NJ

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE 323 SBS,INC FUND IS A 501C-3 ORGANIZATION WHICH EXISTS TO SUPPLEMENT AND ENHANCE THE GENERAL LIVES OF THE LUTHER ARMS,INC HOUSING COMMUNITY,A SECT 8/202 HUD SPONSORED HOUSING FACILITY IN TRENTON,NJ. THE FUND CONDUCTS AN ANNUAL ROUND OF COMMUNITY SUPPORT THROUGH THE DISTRIBUTIION OF SOME PERCENTAGE OF IT'S ASSETS AND INCOME TO CHURCH RELATED AND NOT FOR PROFIT COMMUNITY ORGANIZATIONS IN THE LOCAL MERCER COUNTY,NJ AREA. THE LUTHER ARMS BUILDING HAS 150 APARTMENTS AVAILABLE FOR RENT.


THE 323 SBS FUND BEGAN IT'S CHARITABLE ACTIVITY IN 2019.THE FUND MANAGEMENT IS FURTHER EXPLORING THE APPROPRIATE TIME FRAME FOR CHARITABLE ACTIVITY BUT IT IS EXPECTED TO GENERATE ONE ROUND OF GIVING PER YEAR-THE TARGET IS FOUR/ FIVE CHARITABLE GIFTS PER YEAR.


THE 323 SBS FUND IS A CHARITABLE ORGANIZATION ORGANIZED TO GENERALLY SUPPORT THE WORK OF THE LUTHER ARMS APARTMENT BUILDING --A LUTHERAN CHURCH AFFILIATED 501[C]3 LOCATED IN TRENTON,NJ.


ADDITIONAL GIFTS..


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Board, Officers & Key Employees

Name (title)Compensation
Albert Cowell
Trustee
$0
Rosie Jackson
Trustee
$0
Raymond Kolison
Trustee
$0
Richard Sword
Trustee
$0
Debra Burd
Trustee
$0
David Smith
Trustee
$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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $20,011
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 $20,011

Grants Awarded

Over the last fiscal year, 323 Sbs Fund Inc has awarded $28,000 in support to 4 organizations.

Grant RecipientAmount

LIBERIAN MISSION OF USA

PURPOSE: gift in support of Rev Francis Keelakii and his educational and mission work in Liberia

$10,000

TRENTON TRACK CLUB

Org PageRecipient Profile

Ewing, NJ

PURPOSE: gift in general support of the Community Work of the Trenton Track Club.

$6,000

ST BARTHOLOMEWS LUTHERAN CHURCH

PURPOSE: a gift in general support of the Community work of our neighbor,St Bartholomews Church in Trenton.

$6,000

Trenton, NJ

PURPOSE: gift in support of Community Activities of Isles-particularly in the area of replanting urban spaces with hardwood trees/ reforestation.

$6,000
View Grant Profile

Endowment Analysis

Beg. Balance$528,872
Earnings-$3,213
Admin Expense$26
Ending Balance$525,633

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