Usps Endowment Fund Inc
- Assets
- $2.1m
- Revenue
- $165.7k
- Investments
- $138.4k
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 08/2019
- Data as of
- 11/2023
- EIN
- 82-2846674
Organization Overview
Usps Endowment Fund Inc is located in Raleigh, NC. The organization was established in 2019. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Usps Endowment Fund 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 11/2023, Usps Endowment Fund Inc generated $165.7k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $184.9k during the year ending 11/2023. While expenses have increased by 3.7% per year over the past 5 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
SEE SCHEDULE OTHE UNITED STATES POWER SQUADRONS ENDOWMENT FUND IS ORGANIZED UNDER SECTIONS 509(A)(3) AND 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (OR THE CORRESPONDING PROVISION OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAW) (THE "CODE") EXCLUSIVELY FOR THE SUPPORT OF THE UNITED STATES POWER SQUADRONS, INC., A NORTH CAROLINA CORPORATION ORGANIZED UNDER SECTION 501(C)(3) OF THE CODE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF PROVIDING FINANCIAL SUPPORT FOR THE UNITED STATES POWER SQUADRONS, INC. (USPS), AND ACTIVITIES IN FURTHERANCE OF THE PURPOSES OF USPS, NAMELY, THE PROMOTION AND IMPROVEMENT OF RECREATIONAL BOATING SAFETY AND EDUCATION. THE CORPORATION WILL SOLICIT, HOLD, AND INVEST FUNDS FOR THE BENEFIT OF USPS TO BE DISBURSED FOR THE GENERAL NEEDS AND SPECIFIC PROJECTS OF USPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Malatak Chairman | OfficerTrustee | 10 | $0 |
Ruth Witztum Vice-Chairman | OfficerTrustee | 10 | $0 |
Thomas Dougherty Trustee | Trustee | 10 | $0 |
Mary Paige Abbott Trustee | Trustee | 10 | $0 |
Frank Dvorak Trustee | Trustee | 10 | $0 |
Warren Stevens Trustee | Trustee | 10 | $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 | $93,409 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $93,409 |
| Total Program Service Revenue | $0 |
| Investment income | $55,771 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,520 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $165,700 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $164,182 |
| 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 | $0 |
| Fees for services: Accounting | $8,435 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,552 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $104 |
| Information technology | $1,199 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $300 |
| 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 | $0 |
| All other expenses | $88 |
| Total functional expenses | $184,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,122 |
| Savings and temporary cash investments | $0 |
| 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 | $1,848,512 |
| Investments—other securities | $138,445 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,880 |
| Total assets | $2,135,959 |
| Accounts payable and accrued expenses | $1,199 |
| 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 | $1,199 |
| Net assets without donor restrictions | $401,130 |
| Net assets with donor restrictions | $1,733,630 |
| 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 | $2,135,959 |