Vertuassets Foundation Inc
- Assets
- $11.3m
- Revenue
- $9.7m
- Investments
- $6.3m
- Employees
- 0
- Location
- Alpharetta, GA
- Founding
- 06/2018
- Data as of
- 12/2021
- EIN
- 82-2328799
Organization Overview
Vertuassets Foundation Inc is located in Alpharetta, GA. The organization was established in 2018. According to its NTEE Classification (T30) the organization is classified as: Public 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. Vertuassets 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 12/2021, Vertuassets Foundation Inc generated $9.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $7.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Vertuassets Foundation Inc has awarded 27 individual grants totaling $40,720,823. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ENABLE DONATIONS OF ASSETS TO FUND CAUSES BENEFITING THOSE IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VERTUASSETS ENABLED DONATIONS OF ASSETS TO FUND CAUSES BENEFITING THOSE IN NEED. VERTUASSETS REACHES INDIVIDUALS AND BUSINESSES THAT HAVE A DESIRE TO GIVE CHARITABLY FROM THEIR WEALTH BY DONATING APPRECIATED ASSETS SO THAT MORE FINANCIAL RESOURCES MAY BE GIVEN TO NON PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pamela Pugh President/director | OfficerTrustee | 30 | $0 |
Dana E Ring Secr./treas./director | OfficerTrustee | 2 | $0 |
Ray Tyler Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,301,421 |
| Investment income | $22,628 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$31,559 |
| Net Gain/Loss on Asset Sales | -$655,787 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,672,097 |
| Statement of Expenses | |
|---|---|
| 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 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 | $1,324 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $138,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $367 |
| All other expenses | $0 |
| Total functional expenses | $7,687,328 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $384,930 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $813 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $50,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $193,200 |
| Investments—other securities | $6,274,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $102,193 |
| Total assets | $11,318,136 |
| Accounts payable and accrued expenses | $18 |
| Grants payable | $0 |
| Deferred revenue | $15,000 |
| 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 | $233,206 |
| Total liabilities | $248,224 |
| Net assets without donor restrictions | $11,069,912 |
| 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 |
| Total liabilities and net assets/fund balances | $11,069,912 |
Grants Awarded
Over the last fiscal year, Vertuassets Foundation Inc has awarded $26,334,239 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
FIDELITY CHARITABLE PURPOSE: GROWTH | $176,844 |
DESERET TRUST COMPANY PURPOSE: SUPPORT | $208,259 |
AMERICAN ALBANIAN ENCOURAGEMENT FOUNDATION PURPOSE: SUPPORT | $93,126 |
NCF CHICAGO PURPOSE: GRANT MAKING | $32,125 |
NCF SOUTHWEST PURPOSE: GRANT MAKING | $7,950 |
NCF WISCONSIN PURPOSE: GRANT MAKING | $18,950 |