Elevate Prize Foundation Inc
- Assets
- $15.9m
- Revenue
- $334.3k
- Investments
- $11.5m
- Employees
- 0
- Location
- Miami, FL
- Founding
- Data as of
- 12/2022
- EIN
- 82-4411649
Organization Overview
Elevate Prize Foundation Inc is located in Miami, FL. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Elevate Prize 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 12/2022, Elevate Prize Foundation Inc generated $334.3k 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 (52.0%) each year. All expenses for the organization totaled $9.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Elevate Prize Foundation Inc has awarded 150 individual grants totaling $17,731,299. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
"ELEVATE PRIZE" AWARDS GRANTS TO INDIVIDUALS PURSUANT TO IRC 4945(G)(3) AND ORGANIZATIONS IN ONE OR MORE OF THE AREAS OF: RELIEF OF THE POOR,DISASTER RELIEF, HEALTHCARE, AFFORDABLE HOUSING, EDUCATION, RELIGION, ARTS, SCIENTIFIC RESEARCH, AND ENVIRONMENTAL PROTECTION. SUPPORT SERVICES SUCH AS PROFESSIONAL MANAGEMENT AND DEVELOPMENT SERVICES, MENTORSHIP AND COUNSELING, EDUCATIONAL TRAINING, CAPACITY BUILDING, AND CONNECTION WITH EXPERTS ARE PROVIDED BY THE ELEVATE PRIZE FOUNDATION TO THE RECIPIENTS OF FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph S Deitch Director & President | 4.5 | $0 | |
Matthew F Deitch Director & Vice President | 1 | $0 | |
Eric B Brenman Director & Secretary/treasurer | 1.5 | $0 | |
Sanjiv Mirchandani Director | 1 | $0 | |
Carolina Garcia Jayaram Director & CEO | 40 | $365,598 | |
Matthew Minor Chief Impact Officer | 40 | $228,285 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bridgespan Group Inc | 12/30/22 | $645,000 |
Edelman Miami Latin America Corp | 12/30/22 | $566,377 |
Mit Solve | 12/30/22 | $525,000 |
Box Creative | 12/30/22 | $187,403 |
Intention 2 Impact Llc | 12/30/22 | $149,862 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $245,149 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $94,731 |
| Capital Gain Net Income | $94,731 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | -$17,954 |
| Other Income | $12,333 |
| Total Revenue | $334,259 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $419,673 |
| Other employee salaries and wages | $1,235,631 |
| Pension plans, employee benefits | $230,256 |
| Interest | $164 |
| Taxes | $33,399 |
| Depreciation | $23,952 |
| Occupancy | $104,244 |
| Travel, conferences, and meetings | $522,265 |
| Printing and publications | $0 |
| Other expenses | $740,406 |
| Total operating and administrative expenses | $6,135,918 |
| Contributions, gifts, grants paid | $3,462,000 |
| Total expenses and disbursements | $9,597,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,212,102 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $113,138 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $3,165 |
| Other assets | $104,500 |
| Total assets | $15,915,657 |
| Accounts payable and accrued expenses | $132,828 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $193 |
| Total liabilities | $133,021 |
Grants Awarded
Over the last fiscal year, Elevate Prize Foundation Inc has awarded $7,461,299 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
ADYAN FOUNDATION PURPOSE: ELEVATE PRIZE PROGRAM - TO SUPPORT TAADUDIYA ONLINE PLATFORM WHICH PROVIDES HIGH-QUALITY MEDIA CONTENT, RESEARCH, AND TRAINING ON ISSUES RELATED TO PLURALISM | $50,000 |
A BREEZE OF HOPE PURPOSE: ELEVATE PRIZE PROGRAM - TO INCREASE OPERATIONAL AND RESOURCE DEVELOPMENT CAPACITY | $50,000 |
ALI FORNEY CENTER PURPOSE: ELEVATE PRIZE PROGRAM - TO CREATE CAREER PATHWAYS FOR HOMELESS LGBTQ AND TRANSGENDER YOUTH | $175,000 |
ALI FORNEY CENTER PURPOSE: GENERAL OPERATING | $5,000 |
ALI FORNEY CENTER PURPOSE: GENERAL OPERATING | $1,000 |
AMANDLAMOBI PURPOSE: ELEVATE PRIZE PROGRAM - IMPROVING THE LIVES OF LOW INCOME BLACK WOMEN | $50,000 |