Sogal Foundation
- Assets
- $822.7k
- Revenue
- $303.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Naples, FL
- Founding
- 11/2018
- Data as of
- 12/2021
- EIN
- 82-4321559
Organization Overview
Sogal Foundation is located in Naples, FL. The organization was established in 2018. According to its NTEE Classification (B03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Education and related organizations. As of 12/2021, Sogal Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sogal 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 12/2021, Sogal Foundation generated $303.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (26.4%) each year. All expenses for the organization totaled $435.5k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CLOSE THE DIVERSITY GAP IN ENTREPRENEURSHIP AND VENTURE CAPITAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR REGULAR WEBINAR SERIES AND A SERIES OF IN-PERSON TRAININGS PROVIDES TRAINING AND MENTORSHIP FOR JUNIOR WOMEN BEGINNING THEIR CAREERS IN VENTURE CAPITAL (VC) AND ANGEL INVESTING TO ASK QUESTIONS AND GET ADVICE IN A CANDID, SAFE SETTING. AS A RESULT, THROUGH THESE EDUCATIONAL TRAININGS, THE FOUNDATION WILL EDUCATE AND GALVANIZE DIVERSE FUTURE INVESTORS, WHO WILL IN TURN INVEST AT LEAST $1.5M+ IN UNDERREPRESENTED FOUNDERS. THE FOUNDATION IS HOSTING OUR THIRD ANNUAL GLOBAL COMPETITION FOR FEMALE AND UNDERREPRESENTED FOUNDERS WITH MULTIPLE REGIONAL ROUNDS, AND A THREE-DAY IMMERSIVE BOOTCAMP FOR THE COHORT OF GLOBAL FINALISTS. THE FOUNDATION IS PROVIDING THE UNIQUE OPPORTUNITY FOR UNDERREPRESENTED FOUNDERS TO COMPETE IN MULTIPLE ROUNDS AND LEARN IN AN IMMERSIVE EDUCATIONAL BOOTCAMP, WITH AN EXCLUSIVE OPPORTUNITY FOR EXPOSURE AND FEEDBACK. THIS EDUCATIONAL INITIATIVE AND PUBLICITY HAS THE POTENTIAL TO RESULT IN VC FEEDBACK AND A CHANCE TO SECURE FUNDING WHICH AIDS FEMALE-OWNED BUSINESSES, WHICH ARE A MINORITY IN THE VC WORLD. THE FOUNDATION HOSTS 12 ONLINE FIRESIDE CHATS ON OFTEN-IGNORED SYSTEMIC ISSUES SUCH AS SOCIETAL EXPECTATIONS & PRESSURES OF MARRIAGE, FERTILITY & CHILDCARE, AND ELDERCARE, REACHING MORE THAN 1,200 DIVERSE ENTREPRENEURS. THE WEBINAR PARTICIPANTS LEARN NEW WAYS TO COPE WITH THE STRESSES ENTREPRENEURS FACE, A STRONGER UNDERSTANDING OF THEIR FINANCES, OR ADDITIONAL CONFIDENCE IN SPEAKING TO MEDIA. THE FOUNDATION HOSTS MENTAL HEALTH, FINANCIAL LITERACY, AND MEDIA TRAINING EDUCATIONAL WEBINARS REACHING MORE THAN 2,400 DIVERSE ENTREPRENEURS. WEBINARS MAY BE ACCOMPANIED BY IN PERSON EVENTS FACILITATED BY FACEBOOK LIVE. THE WEBINAR PARTICIPANTS WILL LEARN NEW STRATEGIES & RESOURCES TO STRENGTHEN RESILIENCE DESPITE THE OFTEN IGNORED SYSTEMIC ISSUES, SOCIETAL EXPECTATIONS, AND FAMILY RESPONSIBILITY PRESSURES. THROUGH GRANT FUNDING, THE FOUNDATION PROVIDES STARTUP FUNDING AWARDS TO MINORITY WOMEN AND NON-BINARY BUSINESS ENTREPRENEURS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Henry Global Executive Director | Officer | 40 | $37,835 |
Yiqing Pocket Sun Co-Chair | OfficerTrustee | 5 | $0 |
Elaine Truong Secretary | OfficerTrustee | 5 | $0 |
Elizabeth Galbut Co-Chair | OfficerTrustee | 5 | $0 |
Taylor Hebble Treasurer | OfficerTrustee | 5 | $0 |
Calanthia Mei Member | Trustee | 5 | $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 | $302,903 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $302,903 |
| Total Program Service Revenue | $0 |
| Investment income | $49 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $302,952 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,000 |
| 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 | $253,732 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,220 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,263 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $21,018 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,500 |
| Travel | $1,734 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,629 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,389 |
| All other expenses | $0 |
| Total functional expenses | $435,485 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $758,213 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $61,500 |
| 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 | $2,945 |
| 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 | $822,658 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $450,000 |
| 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 | $0 |
| Total liabilities | $450,000 |
| Net assets without donor restrictions | $372,658 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $822,658 |
Grants Awarded
Over the last fiscal year, Sogal Foundation has awarded $50,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
UN-RULY PURPOSE: Grow Company | $10,000 |
SOULACE PURPOSE: Grow Company | $10,000 |
AK PROSTHETICS PURPOSE: GROW COMPANY | $10,000 |
QUEERLY HEALTH PURPOSE: Grow Company | $10,000 |
GABA PURPOSE: GROW COMPANY | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Sogal Foundation has recieved totaling $461,197.
| Awarding Organization | Amount |
|---|---|
Wal-Mart Foundation Bentonville, AR PURPOSE: FINANCIAL GIVING | $450,000 |
Allstate Foundation Northbrook, IL PURPOSE: 2021 ERG COMMUNITY GRANT - INTRAPRENEURS@ALLSTATE | $10,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $1,023 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $174 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Independent Colleges & Universities Benefits Association Inc Orlando, FL | $55,882,543 | $98,817,940 |
Early Learning Coalition Of Indian River Martin & Okeechobee Counties Stuart, FL | $1,642,203 | $20,708,038 |
Early Learning Coalition Of Marion County Inc Ocala, FL | $2,959,241 | $19,272,035 |
Eastern States Veterinary Association Inc Orlando, FL | $24,266,314 | $20,705,177 |
Alabama Education Association Inc Montgomery, AL | $11,369,391 | $16,688,773 |
Georgia School Boards Association Inc Lawrenceville, GA | $6,628,869 | $7,234,902 |
Avondale Education Association Inc Decatur, GA | $8,429,300 | $7,595,655 |
Georgia Association Of Educators Inc Tucker, GA | $8,973,666 | $5,902,220 |
Downtown Miami Charter School Inc Miami, FL | $1,756,433 | $6,102,697 |
Florida Education Association Orlando, FL | $1,972,513 | $5,719,056 |
Accreditation Commission For Education In Nursing Inc Atlanta, GA | $17,255,204 | $6,907,699 |
New Schools For Alabama Birmingham, AL | $1,601,582 | $4,974,961 |