Tapfound Inc
- Assets
- $5.6m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 67
- Location
- New York, NY
- Founding
- 05/2002
- Data as of
- 12/2022
- EIN
- 91-2162645
Organization Overview
Tapfound Inc, operating under the name Taproot Foundation, is located in New York, NY. The organization was established in 2002. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Taproot Foundation employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Taproot 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 12/2022, Taproot Foundation generated $5.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $6.2m during the year ending 12/2022. While expenses have increased by 1.8% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DRIVE SOCIAL CHANGE BY LEADING, MOBILIZING, AND ENGAGING PROFESSIONALS IN PRO BONO SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORPORATE ADVISORY SERVICES ADVISES AND WORKS WITH COMPANIES IN DEVELOPING AND RUNNING HIGH-IMPACT PRO BONO PROGRAMS THAT CONNECT THEIR EMPLOYEE TALENT TO THE NEEDS OF SOCIAL GOOD ORGANIZATIONS.
SPEED CONSULTING AND PRO BONO MARATHONS ARE DONE-IN-A-DAY EVENTS WHERE NONPROFIT PARTICIPANTS ARE PAIRED WITH PRO BONO CONSULTANTS FOR THE PURPOSE OF CONSULTATIONS OR TO TACKLE A SCOPED PROJECT. SPEED CONSULTING CONNECTS NONPROFITS WITH PRO BONO CONSULTANTS FOR A HALF-DAY, ROUND-ROBIN WORKSHOP TO GAIN INSIGHTS AND SUPPORT ON A FEW KEY CHALLENGES ACROSS MULTIPLE AREAS. PRO BONO MARATHONS MATCH NONPROFITS WITH TEAMS OF 2 - 4 PRO BONO CONSULTANTS TO ADDRESS A CRITICAL, SCOPED CHALLENGE FROM ASSESSMENT TO DELIVERABLE - IN ONE DAY.
TAPROOT PLUS IS AN OPEN-ACCESS, ONLINE PLATFORM WHICH ENABLES NONPROFITS (AS WELL AS SMALL BUSINESSES) TO CONNECT DIRECTLY WITH SKILLED PROFESSIONALS ANYTIME AND ANYWHERE THROUGH VIRTUAL PRO BONO OPPORTUNITIES. OUR TECHNOLOGY PLATFORM INSTANTLY PROVIDES GREATER ACCESSIBILITY AND REACH OF THESE IMPORTANT RESOURCES, CONNECTING USERS WITH 1-2 PRO BONO CONSULTANTS FOR THE PURPOSE OF ONE-HOUR VIRTUAL CONSULTATIONS SESSIONS OR TACKLING SMALL-SCALE PROJECTS. TAPROOT PLUS IS FREE FOR ALL USERS NONPROFITS, AND VOLUNTEERS - AND OFFERS THESE CRITICAL ORGANIZATIONS IN THE US AND MANY PLACES AROUND THE WORLD ON-DEMAND ACCESS TO VIRTUAL PRO BONO SUPPORT. WITH THE ONSET OF THE COVID-19 PANDEMIC IN 2020, TAPROOT PLUS FURTHER EXPANDED ITS REACH, OFFERING SUPPORT TO SMALL BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rebecca Wang Co-Chair | OfficerTrustee | 3 | $0 |
Patricia Langer Co-Chair | OfficerTrustee | 3 | $0 |
Anjanette Brown Treasurer | OfficerTrustee | 3 | $0 |
Peggy Duvette Member | Trustee | 3 | $0 |
Matt Holford Member | Trustee | 3 | $0 |
Spring Lacy Member | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Andela Inc Contract Programmers | 12/30/21 | $186,927 |
Orr Group Hr Consultants | 12/30/21 | $124,000 |
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 | $600,759 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $600,759 |
| Total Program Service Revenue | $5,057,762 |
| 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 | $5,664,173 |
| 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. | $380,855 |
| Compensation of current officers, directors, key employees. | $144,144 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,759,433 |
| Pension plan accruals and contributions | $56,075 |
| Other employee benefits | $232,653 |
| Payroll taxes | $347,238 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,899 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $704,646 |
| Advertising and promotion | $195,308 |
| Office expenses | $35,381 |
| Information technology | $189,386 |
| Royalties | $0 |
| Occupancy | $202,843 |
| Travel | $13,686 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,104 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $21,564 |
| All other expenses | $0 |
| Total functional expenses | $6,226,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,767,934 |
| Savings and temporary cash investments | $10,450 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $868,872 |
| 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 | $33,275 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $91,045 |
| Other assets | $851,206 |
| Total assets | $5,622,782 |
| Accounts payable and accrued expenses | $484,268 |
| Grants payable | $0 |
| Deferred revenue | $2,119,861 |
| 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 | $805,159 |
| Total liabilities | $3,409,288 |
| Net assets without donor restrictions | $2,002,660 |
| Net assets with donor restrictions | $210,834 |
| 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 | $5,622,782 |