The Possibility Fund
- Assets
- $262.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, PA
- Founding
- 04/2018
- Data as of
- 12/2022
- EIN
- 82-2124676
Organization Overview
The Possibility Fund is located in Springfield, PA. The organization was established in 2018. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Possibility 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 12/2022, Possibility Fund generated $80.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (34.4%) each year. All expenses for the organization totaled $21.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (47.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
SINCE 2017 THE POSSIBILITY FUND HAS BEEN WORKING WITH LEADERS IN A SCHOOL DISTRICT IN CHESTER, PA. THIS HAS BEEN CONSISTENT WITH THE POSSIBILITY FUND'S COMMITMENT TO CREATE THE BRIGHT FUTURE PEOPLE DESERVE. WE COLLABORATE CLOSELY WITH COMMUNITY ORGANIZATIONS AND INSTITUTIONS TO UNCOVER AND DISPEL THE HISTORY, ASSUMPTIONS, AND WIDELY-HELD VIEWS CONSTRAINING WHAT'S POSSIBLE FOR COMMUNITIES. THE POSSIBILITY FUND'S WORK WITH CUSD WAS NOT CONTINUED IN 2022 DUE TO THE RETIREMENT OF THE SUPERINTENDENT OF THE DISTRICT. TO CONTINUE THE EFFORTS IN FURTHERING YOUTH'S EDUCATION, THE POSSIBILITY FUND FOCUSED ON PROVIDING GRANTS TO THE FOLLOWING NON-PROFIT ORGANIZATIONS: GRANT TO FUND FOR ARMINIAN RELIEF FOR THE PURPOSE OF STUDENTS TO OBTAIN A HIGHER EDUCATION (USUALLY MASTERS DEGREES) IN POLITICS, GOVERNMENT STUDIES AND ECONOMICS. THE OUTCOME IS HAVING EXPERT POLITICIANS. GRANT TO ARMENIAN ASSEMBLY OF AMERICA FOR THE PURPOSE OF GIVING STUDENTS OF ARMENIAN DESCENT THE OPPORTUNITY TO LIVE AND WORK IN BOTH WASHINGTON DC AND YEREVAN, ARMENIA THROUGH INTERNSHIP PROGRAMS. GRANT TO THE DIOCESE OF THE ARMINIAN CHURCH FOR THE PURPOSE OF SPONSORING ONE OF THE MANY CAUSES OF THE DIOCESE THE ARMENIAN CHURCH YOUTH ORGANIZATION OF AMERICA (ACYOA).THE GRANTS THE POSSIBILITY FUND PROVIDED WERE IN SERVICE OF THE CONTINUOUS COMMITMENT TO PROVIDE EDUCATIONAL OPPORTUNITIES TO DISADVANTAGED GROUPS AND COMMUNITIES. THE POSSIBILITY FUND WILL CONTINUE TO SUPPORT CAUSES THAT BRING CHANGE. WE BELIEVE THAT ANY INTRACTABLE PROBLEM IN THE WORLD CAN BE REFRAMED AND OVERCOME. OUR STAND IS TO CREATE A BRIGHT FUTURE FOR EVERYONE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Agavni Yeramyan President | 1 | $0 | |
Ludmilla Malmberg Vice President | 1 | $0 | |
Cindy Fischer Treasurer | 1 | $0 | |
Maurice Mitts Secretary | 1 | $0 | |
Nancy Sloane Executive Director | 30 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $80,242 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $80,242 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $4,456 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $1,355 |
| Total expenses | $21,811 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $262,032 |
| Other assets | $0 |
| Total assets | $262,232 |
| Total liabilities | $0 |
| Net assets or fund balances | $262,232 |