Principio Furnace Foundation Inc
- Assets
- $229.6k
- Revenue
- $123.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Perryville, MD
- Founding
- 09/2001
- Data as of
- 03/2024
- EIN
- 52-2325524
Organization Overview
Principio Furnace Foundation Inc is located in Perryville, MD. The organization was established in 2001. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Principio Furnace 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 03/2024, Principio Furnace Foundation Inc generated $123.0k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $133.7k during the year ending 03/2024. While expenses have increased by 15.6% per year over the past 9 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.
Since 2016, Principio Furnace Foundation Inc has awarded 85 individual grants totaling $204,249. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRINCIPIO MANSION IS A HISTORICAL LANDMARK MAINTAINED AND PRESERVED TO PROVIDE THE COMMUNITY A PLACE TO HOLD FUNDRAISING EVENTS AND MEETINGS AT NO CHARGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary A Stewart Jr President | 0.25 | $0 | |
Jeremy Lynch Treasurer | 0.25 | $0 | |
Sarah Warrington Colenda Secretary | 32 | $38,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $123,015 |
| Interest on Savings | $0 |
| 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 | $123,015 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $38,400 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $48,288 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,268 |
| Total operating and administrative expenses | $97,006 |
| Contributions, gifts, grants paid | $36,661 |
| Total expenses and disbursements | $133,667 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,580 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $219,051 |
| Other assets | $0 |
| Total assets | $229,631 |
| Accounts payable and accrued expenses | $1,471 |
| 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 | $1,471 |
Grants Awarded
Over the last fiscal year, Principio Furnace Foundation Inc has awarded $36,661 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
BOY'S AND GIRL'S CLUB OF CECIL COUNTY PURPOSE: GENERAL OPERATIONS | $4,704 |
CHARLESTOWN ELEMENTARY SCHOOL PURPOSE: GENERAL OPERATIONS | $1,830 |
FREEDOM HILLS PURPOSE: THERAPEUTIC RIDING PROGRAM | $1,902 |
CECIL COLLEGE FOUNDATION PURPOSE: YEARLY DONATION | $5,225 |
HABITAT FOR HUMANITY SUSQUEHANNA PURPOSE: GENERAL OPERATIONS | $5,000 |
PERRYVILLE HIGH SCHOOL PURPOSE: GENERAL OPERATIONS | $7,000 |