Elevate Prize Foundation Inc
- Assets
- $25.6m
- Revenue
- $21.8m
- Investments
- $5.0m
- Employees
- 0
- Location
- Miami, FL
- Founding
- Data as of
- 12/2021
- 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 12/2021, Elevate Prize Foundation Inc generated $21.8m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 51.3% each year . All expenses for the organization totaled $8.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Elevate Prize Foundation Inc has awarded 80 individual grants totaling $10,270,000. 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
2021
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 |
|---|---|---|---|
Carolina Garcia Jayaram Director & CEO | 40 | $367,770 | |
Matthew Minor Senior Programs Dire | 40 | $224,654 | |
Ruth Gaviria Chief Marketing Offi | 40 | $198,500 | |
Lara Mosko Marketing Director | 40 | $129,077 | |
Megan Bambino Program Director | 40 | $104,308 | |
Cynthia Mufarreh Chief Operating Peop | 40 | $93,750 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mit Solve | 12/30/21 | $1,872,500 |
Box Creative | 12/30/21 | $278,216 |
Shareability Inc | 12/30/21 | $974,388 |
Edelman Miami Latin America Corp | 12/30/21 | $166,533 |
Mansueto Ventures Llc | 12/30/21 | $250,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,130,528 |
| Interest on Savings | $0 |
| Dividends & Interest | $164,947 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,521,990 |
| Capital Gain Net Income | $1,521,990 |
| Net ST Capital Gain | $396 |
| Income Modifications | $0 |
| Profit on Inventory Sales | -$9,208 |
| Other Income | $28,458 |
| Total Revenue | $21,836,715 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $412,931 |
| Other employee salaries and wages | $870,179 |
| Pension plans, employee benefits | $157,129 |
| Interest | $363 |
| Taxes | $21,707 |
| Depreciation | $5,632 |
| Occupancy | $58,416 |
| Travel, conferences, and meetings | $179,068 |
| Printing and publications | $0 |
| Other expenses | $1,149,019 |
| Total operating and administrative expenses | $4,766,467 |
| Contributions, gifts, grants paid | $3,385,000 |
| Total expenses and disbursements | $8,151,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,435,004 |
| 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 | $129,638 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $22,198 |
| Other assets | $12,700 |
| Total assets | $25,599,159 |
| Accounts payable and accrued expenses | $18,891 |
| 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 | $19,084 |
Grants Awarded
Over the last fiscal year, Elevate Prize Foundation Inc has awarded $6,010,000 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
RISE INC PURPOSE: ELEVATE PRIZE PROGRAM - TO SUPPORT THE DEVELOPMENT, LAUNCH, AND EXECUTION OF RISE JUSTICE LABS FIRST AND SECOND COHORTS | $350,000 |
Austin, TX PURPOSE: ELEVATE PRIZE PROGRAM - HARNESSING THE POWER OF ENTERTAINMENT TO REDUCE INEQUALITIES IN EDUCATION ACROSS AFRICA | $300,000 |
Kirkland, WA PURPOSE: ELEVATE PRIZE PROGRAM - USING MOBILE TECHNOLOGY TO ENABLE HEALTHY PREGNANCIES, SAFE DELIVERIES, AND HEALTHY CHILDHOODS | $300,000 |
TREVOR NOAH FOUNDATION PURPOSE: ELEVATE PRIZE CATALYST AWARD - TO FOSTER INSPIRING LEARNING AND TEACHING ENVIRONMENTS IN SOUTH AFRICAN SCHOOLS | $250,000 |
Menlo Park, CA PURPOSE: GENERAL OPERATING | $250,000 |
Short Hills, NJ PURPOSE: ELEVATE PRIZE PROGRAM - PIONEERING CHANGE IN INDIAN AGRICULTURE AND SUPPORTING SMALLHOLDER FARMERS' LIVELIHOODS | $250,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Elevate Prize Foundation Inc has recieved totaling $20,105,528.
| Awarding Organization | Amount |
|---|---|
Dechomai Asset Trust Jacksonville, FL PURPOSE: unrestricted | $20,105,528 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ichauway Inc Newton, GA | $38,010,143 | $29,470,336 |
Elevate Prize Foundation Inc Miami, FL | $25,599,159 | $21,836,715 |
Desai Sethi Foundation Inc miami, FL | $167,397,052 | $1,318,684 |
Mceachern Endowment Fund Inc Powder Springs, GA | $13,981,287 | $6,848,994 |
Malone Family Land Preservation Foundation Hobe Sound, FL | $131,481,954 | $946,463 |
Pebble Hill Foundation Inc Thomasville, GA | $45,568,261 | $2,596,354 |
Worthington Scholarship Foundation Naples, FL | $12,065,797 | $5,368,981 |
The Switzer Family Foundation Inc St Petersburg, FL | $0 | $574,920 |
Bangladesh American Society Of Muslim Aid For Humanity Inc Boca Raton, FL | $701,948 | $2,077,483 |
Elling O Eide Charitable Foundation Inc Sarasota, FL | $66,382,103 | $1,556,208 |
Paul Millsap Foundation Corp Atlanta, GA | $74,268 | $1,325,506 |
Beech Foundation Inc Conyers, GA | $2,116,092 | $45,755 |