Powering Potential Inc
- Assets
- $259.0k
- Revenue
- $392.3k
- Investments
- $0.0
- Employees
- 1
- Location
- New York, NY
- Founding
- 06/2016
- Data as of
- 03/2022
- EIN
- 47-3046472
Organization Overview
Powering Potential Inc is located in New York, NY. The organization was established in 2016. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Powering Potential 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 03/2022, Powering Potential Inc generated $392.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $212.0k during the year ending 03/2022. While expenses have increased by 2.4% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO USE TECHNOLOGY TO ENHANCE EDUCATION AND STIMULATE IMAGINATIONS FOR LEARNERS IN DEVELOPING COUNTRIES WHILE RESPECTING AND INCORPORATING VALUES OF THE LOCAL CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SOLAR POWER COMPUTERS TO SCHOOLS TO EDUCATE CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janice Lathen President | OfficerTrustee | 24 | $61,666 |
Greg Obenshain Treasurer | OfficerTrustee | 1 | $0 |
Matthew Cohen Chairman | OfficerTrustee | 1 | $0 |
Philip Brandt Secretary | OfficerTrustee | 1 | $0 |
Janisa Anandamohan Board Member | Trustee | 1 | $0 |
Laszlo Schneider Board Member | Trustee | 1 | $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 | $392,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $392,300 |
| Total Program Service Revenue | $0 |
| Investment income | $3 |
| 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 | $392,303 |
| 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 | $22,604 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $64,333 |
| Compensation of current officers, directors, key employees. | $3,217 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,814 |
| Payroll taxes | $4,870 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,760 |
| 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 | $4,867 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,100 |
| Travel | $751 |
| 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 | $110 |
| Insurance | $2,258 |
| All other expenses | $0 |
| Total functional expenses | $212,049 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,364 |
| Savings and temporary cash investments | $19,860 |
| Pledges and grants receivable | $176,081 |
| 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 | $74 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $593 |
| Total assets | $258,972 |
| Accounts payable and accrued expenses | $1,080 |
| 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 | $1,080 |
| Net assets without donor restrictions | $69,311 |
| Net assets with donor restrictions | $188,581 |
| 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 | $258,972 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Powering Potential Inc has recieved totaling $239,815.
| Awarding Organization | Amount |
|---|---|
Segal Family Foundation Inc Warren, NJ PURPOSE: CHARITABLE PURPOSE | $170,000 |
Segal Family Foundation Inc Warren, NJ PURPOSE: CHARITABLE PURPOSE | $64,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,774 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $41 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Abrahams Blessing Albany, NY | $1,941,159 | $28,861,670 |
Planet Aid Inc Milford, MA | $17,464,781 | $29,818,126 |
Wateraid America Inc New York, NY | $16,422,746 | $24,856,015 |
Christian Relief International Lancaster, PA | $46,193,710 | $37,368,118 |
Tov Vchesed Foundation Inc Monsey, NY | $610,324 | $14,594,457 |
Kolel Shomre Hachomos Of Jerusalem Inc Brooklyn, NY | $8,417,391 | $12,158,295 |
Marys Meals Usa Inc Bloomfield, NJ | $3,234,334 | $9,784,357 |
We Charity Williamsville, NY | $15,990,436 | $8,510,977 |
Big Heart Foundation Inc Clifton, NJ | $8,754,377 | $8,531,455 |
Grassroots International Inc Boston, MA | $13,759,969 | $12,517,391 |
Afsnc Inc New York, NY | $3,029,853 | $9,756,195 |
Alima Usa Inc New York, NY | $6,341,096 | $6,115,397 |