Usps Endowment Fund Inc

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 11/2022, Usps Endowment Fund Inc generated $183.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $114.3k during the year ending 11/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE 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)Compensation
Ruth Witztum
Vice-Chairman
$0
John Malatak
Chairman
$0
David Allen
Secretary
$0
Diana Jackson
Treasurer
$0
Mary Catherine Berube
Executive Administrator
$0
Hector Colon
Trustee
$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$23,954
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$23,954
Total Program Service Revenue$0
Investment income $63,397
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $95,768
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $183,119

Endowment Analysis

Beg. Balance$2,437,141
Earnings-$153,716
Net Contributions$23,229
Other Expense$124,230
Ending Balance$2,182,424

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