Kb Foundation
- Assets
- $120.1k
- Revenue
- $387.7k
- Investments
- $0.0
- Employees
- 1
- Location
- King Of Prussia, PA
- Founding
- 06/2017
- Data as of
- 12/2023
- EIN
- 81-5479920
Organization Overview
Kb Foundation is located in King Of Prussia, PA. The organization was established in 2017. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kb 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 12/2023, Kb Foundation generated $387.7k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 46.1% each year . All expenses for the organization totaled $299.6k during the year ending 12/2023. While expenses have increased by 33.1% per year over the past 2 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO BUILD THIS DEVELOPMENTAL AND SOCIAL COMPETENCIES OF ADOLESCENT YOUTH IN THE GREATER PHILADELPHIA AREA THROUGH EDUCATIONAL, RECREATIONAL, AND HANDS-ON LEARNING EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEADERSHIP EXCHANGE ABROAD PROGRAM-THE L.E.A.P. EXPERIENCE PROVIDES THE OPPORTUNITY FOR RISING NINTH-GRADE STUDENTS TO VISIT THE CONTINENT OF AFRICA AND HAVE A FULL EDUCATIONAL EXPERIENCE, LEARNING ABOUT THE SPECIFIC CITY AND COUNTRY THEY VISIT. OUR MENTORING MODEL IS BASED ON ONE PRINCIPLE AND THAT IS "EXPOSURE IS LIFE".
THESE PROGRAMS CREATE AN ENGAGING LEARNING EXPERIENCE FOR THE SCHOLARS, BY EXPOSING THEM TO THE BUSINESS AND THE MANY CAREER OPPORTUNITIES WITHIN A SPECIFIC INDUSTRY. THESE PROGRAMS ALSO PROVIDE EXPOSURE TO SPORTS, TUTORING AND OTHER ENRICHMENT ACTIVITIES THAT FOR ALTERNATIVE LEARNING AND DEVELOPMENT.
COMMUNITY POP-UP & LOCAL MENTORING EVENTS
BOYS & GIRLS MENTORING CAMPS- THIS IS A LIFE SKILLS CAMP WHERE KIDS PARTICIPATE IN ACTIVITIES AND WORKSHOPS THAT REQUIRE THEM TO USE THEIR BRAIN POWER AND WORK TOGETHER. WHILE SPORTS ARE A LARGE PART OF SOME YOUNG PEOPLE'S LIVES, THERE IS A LARGER POPULATION OF YOUTH THAT DO NOT PLAY SPORTS AND CAN LEARN SKILLS AT THIS LIFE CAMP THAT WILL HELP THEM FOR YEARS TO COME.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Natasha Pronsati Treasurer | Trustee | 3 | $4,024 |
Percy Lee Jones 111 Vice-Preside | Trustee | 1 | $0 |
Kirklyn Berry President | Trustee | 8 | $0 |
Nicole Berry Secretary | Trustee | 1 | $0 |
Courtney Clark-Rasheed Trustee | Trustee | 1 | $0 |
Justin Kaplan Trustee | 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 | $324,986 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $324,986 |
| Total Program Service Revenue | $21,004 |
| Investment income | $39 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $40,023 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $387,657 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,385 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $972 |
| Payroll taxes | $1,865 |
| Fees for services: Management | $12,838 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,339 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,553 |
| Advertising and promotion | $19,033 |
| Office expenses | $5,957 |
| Information technology | $3,100 |
| Royalties | $0 |
| Occupancy | $1,848 |
| Travel | $2,664 |
| 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 | $2,123 |
| All other expenses | $104,603 |
| Total functional expenses | $299,573 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $116,772 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,360 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $120,132 |
| Accounts payable and accrued expenses | $4,851 |
| 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 | $780 |
| Total liabilities | $5,631 |
| Net assets without donor restrictions | $0 |
| 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 | $114,501 |
| Total liabilities and net assets/fund balances | $120,132 |