Pay It Forward Foundation Inc
- Assets
- $11.9m
- Revenue
- $29.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- Data as of
- 12/2021
- EIN
- 85-0602776
Organization Overview
Pay It Forward Foundation Inc is located in Pittsburgh, PA. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pay It Forward Foundation 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 12/2021, Pay It Forward Foundation Inc generated $29.7m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 25.8% each year . All expenses for the organization totaled $31.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Pay It Forward Foundation Inc has awarded 517 individual grants totaling $30,502,398. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BARSTOOL FUND, A REGISTERED DBA OF THE ORGANIZATION, ASSISTED SMALL BUSINESSES ACROSS THE NATION WITH DISASTER RELIEF FUNDS TO HELP THEM SURVIVE THE IMPACTS OF THE COVID-19 PANDEMIC.
VIRGINIA - THE ORGANIZATION ASSISTED SMALL BUSINESSES IN VIRGINIA WITH DISASTER RELIEF FUNDS TO HELP THEM SURVIVE THE IMPACTS OF THE COVID-19 PANDEMIC.
NEW JERSEY - THE ORGANIZATION ASSISTED SMALL BUSINESSES IN NEW JERSEY WITH DISASTER RELIEF FUNDS TO HELP THEM SURVIVE THE IMPACTS OF THE COVID-19 PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Cheng Chairman | OfficerTrustee | 5 | $0 |
William Caldwell Treasurer | OfficerTrustee | 5 | $0 |
Generra Peck Board Member (until 8/1/2021) | Trustee | 5 | $0 |
Susan Burson Taylor Snyder Board Member (from 8/1/2021) | Trustee | 5 | $0 |
Pete Snyder Board Member (from 8/1/2021) | Trustee | 5 | $0 |
Katherine Neal Board Member (from 8/1/2021) | Trustee | 5 | $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 | $29,731,720 |
| Noncash contributions included in lines 1a–1f | $6,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,731,720 |
| 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 | $29,731,720 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,760,819 |
| 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 | $46,544 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,516 |
| Advertising and promotion | $0 |
| Office expenses | $269,868 |
| Information technology | $6,000 |
| 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 | $3,884 |
| All other expenses | $0 |
| Total functional expenses | $31,089,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,881,448 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,181 |
| 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 | $11,909,629 |
| Accounts payable and accrued expenses | $16,023 |
| 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 | $16,023 |
| Net assets without donor restrictions | $11,828,606 |
| Net assets with donor restrictions | $65,000 |
| 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 | $11,909,629 |
Grants Awarded
Over the last fiscal year, Pay It Forward Foundation Inc has awarded $29,467,640 in support to 471 organizations.
| Grant Recipient | Amount |
|---|---|
KABOOZ'S BAR & GRILL (GENTS ENTERPRISES INC) PURPOSE: TO ASSIST SMALL BUSINESSES STRUGGLING FROM THE COVID-19 DISASTER | $400,000 |
Kansas City, MO PURPOSE: TO ASSIST SMALL BUSINESSES STRUGGLING FROM THE COVID-19 DISASTER | $346,102 |
PRIMAVERA PURPOSE: TO ASSIST SMALL BUSINESSES STRUGGLING FROM THE COVID-19 DISASTER | $320,000 |
MAMA MIA (PORTICI RESTAURANT) PURPOSE: TO ASSIST SMALL BUSINESSES STRUGGLING FROM THE COVID-19 DISASTER | $290,000 |
MAMA MIA (PORTICI RESTAURANT) PURPOSE: TO ASSIST SMALL BUSINESSES STRUGGLING FROM THE COVID-19 DISASTER | $290,000 |
THE DANCE STUDIO OF FRESNO (SS DALENA INC) PURPOSE: TO ASSIST SMALL BUSINESSES STRUGGLING FROM THE COVID-19 DISASTER | $280,000 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that Pay It Forward Foundation Inc has recieved totaling $401,924.
| Awarding Organization | Amount |
|---|---|
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $107,200 |
Kid Rock Foundation Tequesta, FL PURPOSE: TO SAVE AS MANY JOBS AS POSSIBLE DURING THIS PANDEMIC BY HELPING SMALL BUSINESSES MEET THEIR PAYROLL, PAY THEIR RENT/UTILITIES, AND/OR CONTINUE PROVIDING HEALTH INSURANCE FOR THEIR EMPLOYEES. | $100,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $100,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $25,050 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $15,000 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $14,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Braverhood Ltd Brooklyn, NY | $56,044,966 | $113,467,057 |
Chevron Phillips Chemical Co Lp Health & Benefit Tr Veba Pittsburgh, PA | $15,880,618 | $77,964,861 |
Coordinated Behavioral Care Inc New York, NY | $25,699,878 | $79,934,258 |
Success Academy Charter Schools Inc New York, NY | $162,966,057 | $99,368,525 |
Inspirittec Inc Philadelphia, PA | $65,630,872 | $75,964,924 |
West Virginia University Medical Corporation Morgantown, WV | $21,363,966 | $59,205,918 |
Baker Hall Lackawanna, NY | $43,415,308 | $53,649,609 |
Pennsylvania Virtual Charter School King Of Prussia, PA | $24,898,829 | $49,068,085 |
Tiegerman School Glen Cove, NY | $36,938,898 | $36,850,171 |
Teach For All Inc New York, NY | $63,275,692 | $50,938,774 |
Pay It Forward Foundation Inc Pittsburgh, PA | $11,909,629 | $29,731,720 |
Wood County Schools Benefit Plan Bowling Green, OH | $9,100,102 | $25,909,869 |