Progressive Multiplier Fund
- Assets
- $799.5k
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 07/2019
- Data as of
- 06/2022
- EIN
- 83-1264302
Organization Overview
Progressive Multiplier Fund is located in Washington, DC. The organization was established in 2019. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Progressive Multiplier Fund 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 06/2022, Progressive Multiplier Fund generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 23.9% each year . All expenses for the organization totaled $2.0m during the year ending 06/2022. While expenses have increased by 29.0% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Progressive Multiplier Fund has awarded 67 individual grants totaling $1,930,318. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING CHARITABLE ORGANIZATIONS TO DO COMMUNITY OUTREACH & REVENUE GENERATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCING REVENUE GENERATION PROJECTS FOR PROGRESSIVE ORGANIZATIONS, AND IN TURN, SHARES FUNDRAISING KNOWLEDGE GAINED WITHIN THE PROGRESSIVE MOVEMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vanessa Pierce Chair | OfficerTrustee | 0.1 | $0 |
Secky Fascione Secretary | OfficerTrustee | 0.1 | $0 |
Margaret Huang Treasurer | OfficerTrustee | 0.1 | $0 |
Philip D Radford Executive Director | Officer | 20 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Progressive Power Lab Llc Consulting/other Services | 6/29/19 | $124,464 |
Kg Consulting Provide Guidance On Donor/prospect Outre | 6/29/19 | $114,464 |
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 | $1,795,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,795,500 |
| Total Program Service Revenue | $67,800 |
| Investment income | $403 |
| 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 | $1,927,337 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,221,680 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $602,002 |
| Fees for services: Legal | $2,741 |
| Fees for services: Accounting | $39,252 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,244 |
| Advertising and promotion | $2,101 |
| Office expenses | $18,385 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,146 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $10,738 |
| All other expenses | $0 |
| Total functional expenses | $1,957,289 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $282,665 |
| Savings and temporary cash investments | $494,365 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,000 |
| 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 | $9,198 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,262 |
| Total assets | $799,490 |
| Accounts payable and accrued expenses | $21,970 |
| Grants payable | $210,000 |
| Deferred revenue | $0 |
| 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 | $778 |
| Total liabilities | $232,748 |
| Net assets without donor restrictions | -$147,425 |
| Net assets with donor restrictions | $714,167 |
| 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 | $799,490 |
Grants Awarded
Over the last fiscal year, Progressive Multiplier Fund has awarded $1,221,680 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
Austin, TX PURPOSE: Support and implementation of the digital continuing legal education training | $55,000 |
San Francisco, CA PURPOSE: Revenue Generation project | $50,000 |
Hyattsville, MD PURPOSE: Revenue Generation project | $50,000 |
Montgomery, AL PURPOSE: Revenue Generation project | $50,000 |
San Francisco, CA PURPOSE: Revenue Generation project | $50,000 |
Miami, FL PURPOSE: Revenue Generation project | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Progressive Multiplier Fund has recieved totaling $1,040,000.
| Awarding Organization | Amount |
|---|---|
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: PHILANTHROPY/VOLUNTARISM | $625,000 |
The Leonard And Sophie Davis Fund San Francisco, CA PURPOSE: SUPPORT FOR SOCIAL SERVICE PROGRAMS OR EDUCATIONAL PROGRAMS | $100,000 |
Scherman Foundation Inc New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
Rosenberg Foundation San Francisco, CA PURPOSE: GENERAL SUPPORT | $90,000 |
Winslow Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $50,000 |
Amalgamated Charitable Foundation Inc Washington, DC PURPOSE: General operating support | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Commonwealth Foundations Richmond, VA | $819,010 | $12,460,000 |
Carmax Foundation Richmond, VA | $6,340,369 | $9,797,991 |
Mcleod Family Foundation Inc Roanoke, VA | $24,622,922 | $3,411,070 |
Petters Family Foundation Newport News, VA | $24,802,843 | $3,836,696 |
Tamias Foundation Hunt Valley, MD | $26,017,429 | $6,201,686 |
Progressive Multiplier Fund Washington, DC | $799,490 | $1,927,337 |
Under Armour Foundation Inc Baltimore, MD | $15,024,914 | $8,000,000 |
The Nathan Seter Foundation Washington, DC | $22,383,522 | $1,162,414 |
Hilton Effect Foundation Mclean, VA | $515,570 | $1,569,258 |
Veerayatan International Inc Hughesville, MD | $1,352,883 | $862,966 |
The J H Walker Legacy Foundation Reston, VA | $966,705 | $1,075,613 |
Enfranchisement Foundation Washington, DC | $17,763,997 | $3,332,033 |