The Fountain Fund
- Assets
- $2.9m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 12
- Location
- Charlottesville, VA
- Founding
- 12/2016
- Data as of
- 12/2023
- EIN
- 81-3741447
Organization Overview
The Fountain Fund is located in Charlottesville, VA. The organization was established in 2016. According to its NTEE Classification (I40) the organization is classified as: Rehabilitation Services for Offenders, under the broad grouping of Crime & Legal-Related and related organizations. As of 12/2023, Fountain Fund employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fountain Fund 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 12/2023, Fountain Fund generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.2% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNTAIN FUND INCREASES ECONOMIC OPPORTUNITIES FOR FORMERLY INCARCERATED PEOPLE TO IMPROVE THEIR LIVES AND REMAIN IN THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNTAIN FUND PROVIDES LOW-INTEREST LOANS AND FINANCIAL COACHING TO FORMERLY INCARCERATED PEOPLE, HELPING THEM BUILD THEIR CREDIT AND ACHIEVE THEIR SELF-DETERMINED GOALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Lorsh Board Member | Trustee | 1 | $0 |
David Smith Secretary | OfficerTrustee | 1 | $0 |
Siri Russell Board Member | Trustee | 1 | $0 |
Lorenzo Collins Board Member | Trustee | 2 | $0 |
Patricia Smith Board Member | Trustee | 2 | $0 |
Tim Heaphy Board Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,475 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,976,715 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,012,190 |
| Total Program Service Revenue | $22,052 |
| Investment income | $7,192 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,041,434 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $82,753 |
| Compensation of current officers, directors, key employees. | $16,551 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $461,081 |
| Pension plan accruals and contributions | $9,696 |
| Other employee benefits | $43,396 |
| Payroll taxes | $41,986 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,705 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $107,601 |
| Advertising and promotion | $0 |
| Office expenses | $24,339 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,204 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,715 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,409 |
| All other expenses | $0 |
| Total functional expenses | $1,123,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,261,959 |
| Savings and temporary cash investments | $582,529 |
| 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 | $1,078,438 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,922,926 |
| Accounts payable and accrued expenses | $0 |
| 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 | $144,477 |
| Other liabilities | $200,000 |
| Total liabilities | $344,477 |
| Net assets without donor restrictions | $2,139,010 |
| Net assets with donor restrictions | $439,439 |
| 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 | $2,922,926 |