Fund For The Common Good
- Assets
- $27.4m
- Revenue
- -$506.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Fulton, MD
- Founding
- Data as of
- 12/2022
- EIN
- 84-3726722
Organization Overview
Fund For The Common Good is located in Fulton, MD. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Fund For The Common Good is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PRINCIPAL ACTIVITY IS THE PROMOTION OF SOCIAL WELFARE THROUGH THE PROVISION OF STRATEGIC AND FINANCIAL SUPPORT TO OTHER ORGANIZATIONS THAT SUPPORT THE ORGANIZATION'S MISSION AND ARE EXEMPT UNDER IRC 501(C)(3) OR 501 (C)(4).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S PRINCIPAL ACTIVITY IS THE PROMOTION OF SOCIAL WELFARE THROUGH THE PROVISION OF STRATEGIC AND FINANCIAL RESOURCES TO OTHER 501(C)3 OR 501(C)4 ORGANIZATIONS CONSISTENT WITH THE ORGANIZATION'S MISSION INCLUDING SUPPORTING LOCAL JOURNALISM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Ashreve Treasurer | Officer | 0.25 | $0 |
Mary C Acker Secretary | Officer | 0.5 | $0 |
David J Korotkin Assistant Secretary | Officer | 0.25 | $0 |
Stewart Bainum Jr President And Director | OfficerTrustee | 2 | $0 |
Sandra Bainum Director | Trustee | 0.5 | $0 |
Bradford Bainum Director | Trustee | 0.25 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $633,240 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,139,292 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$506,052 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,800,000 |
| 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 | $5,458 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $66,509 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $395 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,876,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $738 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,285 |
| 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 | $27,395,705 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $27,437,728 |
| 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 | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $27,437,728 |
| Total liabilities and net assets/fund balances | $27,437,728 |
Grants Awarded
Over the last fiscal year, Fund For The Common Good has awarded $650,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
314ACTION PURPOSE: TRAINING AND SUPPORTING OUR SELECTED/ENDORSED CANDIDATES, ENSURING THEY HAVE THE CUTTING-EDGE TOOLS TO RUN SUCCESSFUL CAMPAIGNS. | $100,000 |
HOUSE MAJORITY FORWARD PURPOSE: PROMOTING ECONOMIC GROWTH AND OPPORTUNITY, SOCIAL JUSTICE, ENVIRONMENTAL STEWARDSHIP, AND DEMOCROCY IN THE UNITED STATES OF AMERICA. | $250,000 |
MAJORITY FORWARD PURPOSE: PROMOTING ECONOMIC GROWTH AND OPPORTUNITY, SOCIAL JUSTICE, ENVIRONMENTAL STEWARDSHIP, AND DEMOCROCY IN THE UNITED STATES OF AMERICA. | $250,000 |
NATIONAL REDISTRICTING ACTION FUND PURPOSE: INITIATING LITIGATION THAT WILL HAVE A NATIONWIDE IMPACT IN CREATING MORE JUST AND REPRESENTATIVE ELECTORAL DISTRICTS. | $50,000 |