Charityvest Inc
- Assets
- $28.7m
- Revenue
- $33.0m
- Investments
- $11.5m
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 12/2016
- Data as of
- 12/2022
- EIN
- 81-2771871
Organization Overview
Charityvest Inc is located in Atlanta, GA. The organization was established in 2016. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Charityvest 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 12/2022, Charityvest Inc generated $33.0m in total revenue. All expenses for the organization totaled $20.1m during the year ending 12/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CATALYZE GENEROSITY BY MAKING GIVING SIMPLE FOR EVERY DONOR THROUGH A PREMIER DONOR-ADVISED FUND PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVANCE AND IMPROVE CHARITABLE RESOURCE DEPLOYMENT AND BE A SPONSORING ORGANIZATION FOR DONOR ADVISED FUNDS. THIS INCLUDES DEVELOPING AND MAINTAINING AN ONLINE PLATFORM FOR CHARITABLE GIVING TO MEET THE NEEDS OF A WIDE RANGE OF DONORS AND TO PROVIDE TOOLS AND SERVICES FOR THOSE DONORS TO ENHANCE THEIR GIVING. AS PART OF THE ONLINE PLATFORM, THE ORGANIZATION WILL DEVELOP A PORTFOLIO OF TOOLS THAT MAKES THE PROCESS AND DECISIONS OF CHARITABLE GIVING EASIER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Kump Chairman | OfficerTrustee | 40 | $0 |
Calvin Edwards Secretary | Trustee | 1 | $0 |
Blair Cunningham Treasurer | Trustee | 1 | $0 |
Nate Wong Director | Trustee | 1 | $0 |
Paul Glyer Director | Trustee | 1 | $0 |
Heather Grizzle Director | 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 | $47,958,387 |
| Noncash contributions included in lines 1a–1f | $22,588,717 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $47,958,387 |
| Total Program Service Revenue | $0 |
| Investment income | $188,894 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$15,186,783 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,960,498 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,985,496 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,777 |
| Fees for services: Accounting | $9,250 |
| 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 | $8,693 |
| Information technology | $19,996 |
| 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 | $13,733 |
| All other expenses | $7,486 |
| Total functional expenses | $20,062,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,985,971 |
| Savings and temporary cash investments | $14,262,960 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,500,673 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $28,749,604 |
| Accounts payable and accrued expenses | $7,486 |
| 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 | $7,486 |
| Net assets without donor restrictions | $28,742,118 |
| Net assets with donor restrictions | $0 |
| 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 | $28,749,604 |