Point Break Foundation
- Assets
- $41.4m
- Revenue
- $5.0m
- Investments
- $38.3m
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/2016
- Data as of
- 12/2021
- EIN
- 47-4043415
Organization Overview
Point Break Foundation is located in New York, NY. The organization was established in 2016. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Point Break 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 12/2021, Point Break Foundation generated $5.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (25.0%) each year. All expenses for the organization totaled $2.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
THE FOUNDATION'S PRIMARY PURPOSE IS TO MAKE GRANTS, CONTRIBUTIONS AND OFFER FINANCIAL ASSISTANCE TO ORGANIZATIONS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL
REVENUE CODE FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES. AT SOME POINT IN THE FUTURE, THE FOUNDATION MAY ALSO MAKE GRANTS TO INDIVIDUALS FOR RELIGIOUS
CHARITABLE, SCIENTIFIC, LITERARY, AND EDUCATIONAL PURPOSES.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $143,655 |
| Interest on Savings | $483 |
| Dividends & Interest | $442,354 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,371,269 |
| Total Revenue | $4,957,761 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $115,250 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $406,546 |
| Total operating and administrative expenses | $580,481 |
| Contributions, gifts, grants paid | $2,175,000 |
| Total expenses and disbursements | $2,755,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,113,979 |
| 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 | $38,267,272 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $41,381,251 |
| 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, Point Break Foundation has awarded $3,625,597 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THE WOODEN NICKEL FOUNDATION PURPOSE: GENERAL CHARITABLE PURPOSES | $1,853,097 |
SEE ATTACHED LIST PURPOSE: GENERAL CHARITABLE PURPOSES | $1,172,500 |
New York, NY PURPOSE: GENERAL CHARITABLE PURPOSES | $600,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Long Island Select Healthcare Inc Central Islip, NY | $8,265,975 | $21,062,448 |
The Heights Inc Potomac, MD | $28,496,015 | $21,762,530 |
Germantown Home Philadelphia, PA | $23,238,200 | $17,117,508 |
Nurtury Inc Roxbury, MA | $15,395,426 | $20,648,224 |
Partnership To End Addiction New York, NY | $61,675,636 | $16,194,669 |
Humanim Inc Columbia, MD | $20,769,725 | $20,890,295 |
New Foundations Charter School Marlton, NJ | $17,967,778 | $23,202,828 |
Chandler Hall Health Services Inc Newtown, PA | $26,412,529 | $17,505,940 |
Jewish Nursing Home Of Western Mass Inc Longmeadow, MA | $27,155,425 | $18,778,772 |
Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
River Valley Counseling Center Inc Holyoke, MA | $5,921,638 | $20,559,237 |