Croom Foundation
- Assets
- $93.0
- Revenue
- $354.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Tuscaloosa, AL
- Founding
- 09/2019
- Data as of
- 07/2024
- EIN
- 83-2648430
Organization Overview
Croom Foundation is located in Tuscaloosa, AL. The organization was established in 2019. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Croom 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 07/2024, Croom Foundation generated $354.9k in total revenue. All expenses for the organization totaled $355.8k during the year ending 07/2024. While expenses have increased by 157.3% per year over the past 3 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE CROOM FOUNDATION IS DEDICATED TO EMPOWERING MARGINALIZED YOUTH AND TEENAGERS IN ALABAMA AND NEIGHBORING STATES. OUR MISSION IS TO BRIDGE THE OPPORTUNITY GAP BY PROVIDING COMPREHENSIVE SUPPORT, EDUCATION, AND RESOURCES TO UNDEREXPOSED AND DISADVANTAGED YOUNG INDIVIDUALS. THROUGH MENTORSHIP, EDUCATIONAL PROGRAMS, AND COMMUNITY ENGAGEMENT, WE AIM TO UNLOCK THE FULL POTENTIAL OF THESE YOUNG MINDS, ENSURING THEY HAVE THE TOOLS AND OPPORTUNITIES NEEDED TO THRIVE, SUCCEED, AND BECOME FUTURE LEADERS IN THEIR COMMUNITIES, BREAKING THE CYCLE OF DISADVANTAGE AND FOSTERING A MORE EQUITABLE SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OFFICER KENNIS CROOM MEMORIAL SCHOLARSHIP AWARDS 3 STUDENTS AN ACADEMIC SCHOLARSHIP TO THE COLLEGE/UNIVERSITY OF THEIR CHOICE.
ELITE PROGRAM WORKS WITH HIGH SCHOOL STUDENTS AS THEY ARE PREPARED FOR POST HIGH SCHOOL OPPORTUNITIES THAT CENTER AROUND COLLEGE/UNIVERSITY AS WELL AS ARMED SERVICE AND WORKFORCE JOBS.
PROJECT 180 MENTORS 5TH GRADE STUDENTS AT A LOCAL PERFORMING ARTS SCHOOL AND WORKS WITH THEM IN THE AREAS OF CREATIVITY, BEHAVIOR AND ATTENDANCE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Kelvin Croom Board Of Directors | Trustee | 5 | $0 |
Tracy Clyde Board Of Directors | Trustee | 5 | $0 |
Sylvester Croom Board Of Directors | Trustee | 5 | $0 |
Dr Tanecia Mitchell Board Of Directors | Trustee | 5 | $0 |
Teresa Bivens Board Of Directors | Trustee | 5 | $0 |
Kevin Croom Executive Director | Trustee | 40 | $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 | $354,938 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $354,938 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $354,938 |
| 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 | $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 | $0 |
| Fees for services: Legal | $0 |
| 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 | $18,636 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $337,194 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $355,830 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| 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 | $93 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $93 |
| 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 | $93 |