Best Friends Foundation
- Assets
- $568.4k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 1
- Location
- Washington, DC
- Founding
- 01/1994
- Data as of
- 07/2023
- EIN
- 52-1844471
Organization Overview
Best Friends Foundation is located in Washington, DC. The organization was established in 1994. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Best Friends 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 07/2023, Best Friends Foundation generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $687.5k during the year ending 07/2023. While expenses have increased by 3.0% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL PROGRAMMING INCLUDING: MAKE MUSIC NOT MADNESS AND KINDNESS IS COOLER SEMINARS AND BFF LEADERSHIP CHOIR AND DANCE TROUPE (INCLUDES STAFF/CONSULTANTS, PRINTING MATERIALS, PARTICIPATION INCENTIVES, PROGRAM SUPPLIES AND MEETING EXPENSES)
BFF SCHOLARSHIPS, DONATIONS, GIFTS, HONORARIUMS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elayne G Bennett Med Founder/president | 40 | $96,000 | |
Curtis Adams MD Director | 1 | $0 | |
Mary Malphrus MBA Director | 3 | $0 | |
Martha Kendrick JD Director | 2 | $0 | |
Timothy Overcash CPA Director | 3 | $0 | |
Vicki Tiahrt Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,069,485 |
| Interest on Savings | $26 |
| Dividends & Interest | $0 |
| 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 | $0 |
| Total Revenue | $1,069,511 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $96,000 |
| Other employee salaries and wages | $64,900 |
| Pension plans, employee benefits | $12,000 |
| Interest | $0 |
| Taxes | $12,436 |
| Depreciation | $0 |
| Occupancy | $31,936 |
| Travel, conferences, and meetings | $33,689 |
| Printing and publications | $0 |
| Other expenses | $395,766 |
| Total operating and administrative expenses | $655,725 |
| Contributions, gifts, grants paid | $31,805 |
| Total expenses and disbursements | $687,530 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $530,939 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $37,500 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $568,439 |
| Accounts payable and accrued expenses | $2,031 |
| 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 | $2,031 |
Grants Awarded
Over the last fiscal year, Best Friends Foundation has awarded $31,805 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
HARRISBURG UNIVERSITY PURPOSE: SCHOLARSHIP FOR OKIKIOLA AJANA ADEGBORO | $2,000 |
ALABAMA A&M UNIVERISTY PURPOSE: SCHOLARSHIP FOR ALCIA BANGURA | $1,000 |
KENT STATE UNIVERSITY PURPOSE: SCHOLARSHIP FOR SOROCHI EWELIKE AND KYRA BLACK | $2,000 |
MERCY COLLEGE PURPOSE: SCHOLARSHIP FOR KENYON SIMMS | $1,000 |
MONTGOMERY COLLEGE PURPOSE: SCHOLARSHIP FOR CHRISTOPHER VASQUEZ | $1,000 |
MARSHALL UNIVERSITY PURPOSE: SCHOLARSHIP FOR KYRESE JENKINS | $1,000 |