Baltimore Polytechnic Institute Foundation Inc
- Assets
- $6.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 2
- Location
- Baltimore, MD
- Founding
- 08/1986
- Data as of
- 06/2022
- EIN
- 52-1604007
Organization Overview
Baltimore Polytechnic Institute Foundation Inc is located in Baltimore, MD. The organization was established in 1986. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2022, Baltimore Polytechnic Institute Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baltimore Polytechnic Institute Foundation 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 06/2022, Baltimore Polytechnic Institute Foundation Inc generated $1.1m 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 (5.8%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. 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
TO PLAN, SPONSOR AND ENGAGE IN ACTIVITIES IN SUPPORT OF, AND TO RAISE FUNDS FOR THE BENEFIT OF, THE BALTIMORE POLYTECHNIC INSTITUTE, INCLUDING ITS STUDENTS AND ALUMNI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT BALTIMORE POLYTECHNIC INSTITUTE BY FUNDING MAINTENANCE & IMPROVEMENTS TO THE SCHOOL BUILDING AND GROUNDS, CLASSROOM SUPPLIES AND OTHER EQUIPMENT, IN AN EFFORT TO RAISE THE QUALITY OF EDUCATION AND EXPAND CAPABILITIES FOR LEARNING EXPERIENCES. FUNDING ALSO SUPPLIES STIPENDS AND SUPPLEMENTAL PAY FOR THE SCHOOL'S DIRECTOR AND SUPPORT STAFF TO ENHANCE THE QUALITY OF EDUCATION TO THE STUDENTS, AND CANDIDATES INTERESTED, AND ALSO TO INCREASE STAFFING NEEDS NOT COVERED BY THE BALTIMORE CITY PUBLIC SCHOOL SYSTEM.
SUPPLY COLLEGE SCHOLARSHIPS PROMOTING SERVICE, ACADEMICS, AND EXTRACURRICULAR ACTIVITIES TO EXEMPLARY STUDENTS AND NEEDS BASED OUTGOING SENIORS.
ALUMNI PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ervin Mcdaniel Chairperson | OfficerTrustee | 1 | $0 |
Douglas Handy President | OfficerTrustee | 1 | $0 |
William F Hunter Jr Treasurer | OfficerTrustee | 4 | $0 |
Michael Gill Board Of Trustees | Trustee | 1 | $0 |
Adrian Palazzi Board Of Trustees | Trustee | 20 | $26,000 |
Darryl Stokes Board Of Trustees | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $13,930 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $689,713 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $703,643 |
| Total Program Service Revenue | $65,686 |
| Investment income | $270,259 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $56,100 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,102,681 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $250,000 |
| Grants and other assistance to domestic individuals. | $191,625 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $130,361 |
| Compensation of current officers, directors, key employees. | $52,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $40,071 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,344 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $63,107 |
| Fees for services: Other | $4,563 |
| Advertising and promotion | $0 |
| Office expenses | $11,910 |
| Information technology | $15,125 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $10,726 |
| All other expenses | $0 |
| Total functional expenses | $1,052,456 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $356,931 |
| Savings and temporary cash investments | $81,039 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $12,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,104,676 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,554,646 |
| Accounts payable and accrued expenses | $210,551 |
| Grants payable | $0 |
| Deferred revenue | $19,870 |
| 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 | $230,421 |
| Net assets without donor restrictions | $2,771,597 |
| Net assets with donor restrictions | $3,552,628 |
| 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 | $6,554,646 |