Princes Trust America Inc
- Assets
- $7.5m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 8
- Location
- New York, NY
- Founding
- 04/2019
- Data as of
- 03/2024
- EIN
- 82-5457122
Organization Overview
Princes Trust America Inc is located in New York, NY. The organization was established in 2019. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 03/2024, Princes Trust America Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Princes Trust America 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 03/2024, Princes Trust America Inc generated $6.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $7.3m during the year ending 03/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
HELP YOUNG PEOPLE TRANSFORM THEIR LIVES BY DEVELOPING THE CONFIDENCE AND SKILLS TO LIVE, LEARN & EARN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THERE ARE THREE SIGNIFICANT GLOBAL CHALLENGES THAT DRIVE THE WORK OF THE TRUST: THE RISING LEVELS OF YOUTH UNEMPLOYMENT (OVER 70 MILLION); THE LOW LEVELS OF SECONDARY EDUCATION COMPLETION (264 MILLION CHILDREN AND YOUNG PEOPLE OUT OF SCHOOL) AND THE WORLD'S RAPIDLY CHANGING POPULATIONS (OVER HALF OF THE GLOBAL POPULATION IS NOW UNDER 30).IN LIGHT OF THAT, THE MAIN PRIORITY IS TO HELP YOUNG PEOPLE TO IMPROVE THEIR LIVES THROUGH PARTNERSHIPS DELIVERING PRACTICAL SOLUTIONS THAT LEAD TO IMPROVED CONFIDENCE. THESE HELP SKILL YOUNG PEOPLE FOR WORK, SUPPORT THEM IN EDUCATION OR HELP THEM SET UP BUSINESSES.DURING FY23 THE ORGANIZATION RAISED FUNDS THAT WERE GRANTED TO ITS PARENT ORGANIZATION, PRINCE'S TRUST, A UK BASED ORGANIZATION.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy Green Chair | OfficerTrustee | 4 | $0 |
Liz Weikes Treasurer | OfficerTrustee | 1 | $0 |
Kate James Board Member | Trustee | 1 | $0 |
Rudyard Ceres Board Member | Trustee | 2 | $0 |
Romero Britto Board Member | Trustee | 1 | $0 |
Victoria Gore CEO | Officer | 32 | $253,777 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,437,818 |
| Related organizations | $0 |
| Government grants | $12,441 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,951,647 |
| Noncash contributions included in lines 1a–1f | $267,094 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,401,906 |
| Total Program Service Revenue | $0 |
| Investment income | $424 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$750,523 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,769,174 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $5,379,838 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $524,850 |
| Compensation of current officers, directors, key employees. | $137,131 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $465,661 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $47,853 |
| Payroll taxes | $68,212 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,085 |
| Fees for services: Accounting | $143,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,034 |
| Advertising and promotion | $44,598 |
| Office expenses | $13,209 |
| Information technology | $42,025 |
| Royalties | $0 |
| Occupancy | $62,330 |
| Travel | $96,343 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,182 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,199 |
| All other expenses | $0 |
| Total functional expenses | $7,336,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $356,724 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,058,844 |
| 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 | $477,986 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $561,591 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $40,740 |
| Total assets | $7,495,885 |
| Accounts payable and accrued expenses | $179,664 |
| Grants payable | $0 |
| Deferred revenue | $360,992 |
| 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 | $42,373 |
| Total liabilities | $583,029 |
| Net assets without donor restrictions | $616,264 |
| Net assets with donor restrictions | $6,296,592 |
| 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 | $7,495,885 |