U Foundation
- Assets
- $3.9m
- Revenue
- $3.0m
- Investments
- $652.4k
- Employees
- 0
- Location
- Friendswood, TX
- Founding
- 01/2020
- Data as of
- 12/2023
- EIN
- 84-3399591
Organization Overview
U Foundation is located in Friendswood, TX. The organization was established in 2020. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. U 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 12/2023, U Foundation generated $3.0m in total revenue. All expenses for the organization totaled $69.6k during the year ending 12/2023. While expenses have increased by 147.5% per year over the past 5 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,000,000 |
| Interest on Savings | $75 |
| Dividends & Interest | $30,375 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,030,450 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $168 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $3,605 |
| Contributions, gifts, grants paid | $66,000 |
| Total expenses and disbursements | $69,605 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,284,293 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $330 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $652,441 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $876 |
| Total assets | $3,937,940 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, U Foundation has awarded $66,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
PEARLAND ROBOTICS BOOSTER ORGANIZATION PURPOSE: UNRESTRICTED | $1,000 |
THE ARTS OF HEALING FOUNDATION PURPOSE: UNRESTRICTED | $20,000 |
DIABETES RESEARCH INSTITUTE FOUNDATION PURPOSE: UNRESTRICTED | $5,000 |
BREAST CANCER THINK TANK PURPOSE: UNRESTRICTED | $40,000 |