502circle Nil Collective Foundation
- Assets
- $75.6k
- Revenue
- $679.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- Data as of
- 12/2023
- EIN
- 92-0905366
Organization Overview
502circle Nil Collective Foundation is located in Atlanta, GA. According to its NTEE Classification (N01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 502circle Nil Collective Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
502CIRCLE FOUNDATION IS A NON-PROFIT IN THE CITY OF LOUISVILLE DESIGNED TO POSITION INTERCOLLEGIATE ATHLETES IN THE COMMUNITY TO CREATE AWARENESS AND CHANGE AROUND A VARIETY OF SOCIAL ISSUES. THESE TOPICS ARE MADE UP OF, BUT ARE NOT LIMITED TO HUNGER, CRIME, DRUG USE, MENTAL HEALTH AND SUSTAINABILITY. THESE PROGRAMS HAVE IMPACTED THOUSANDS OF CHILDREN AND FAMILIES THROUGHOUT THE WEST END OF LOUISVILLE, SOUTHERN INDIANA AND A VARIETY OF OTHER LOUISVILLE SUBURBS. ATHLETES HAVE PARTICIPATED IN PROGRAMS WITH DARE TO CARE, LORDS KITCHEN, DELTA FOUNDATION AND OTHERS WHILE HOSTING YOUTH SPORTS CAMPS IN UNDERSERVED AREAS OF TOWN. AS 502CIRCLE FOUNDATION CONTINUES TO GROW FINANCIALLY, THESE OPPORTUNITIES WILL BE LIMITLESS FOR LOUISVILLE ATHLETES AND THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION RECENTLY HELD TWO KIDS' CAMPS IN THE WEST END OF LOUISVILLE, BRINGING TOGETHER AROUND 150 CHILDREN IN EACH CAMP FOR A POSITIVE AND UPLIFTING EXPERIENCE. IN PARTNERSHIP WITH UNIVERSITY OF LOUISVILLE FOOTBALL PLAYERS, WE PROVIDED UNDERPRIVILEGED FAMILIES WITH ESSENTIAL MENTORSHIP ALONG WITH RESOURCES LIKE WATER BOTTLES AND BAGS. THESE CAMPS GAVE KIDS AND THEIR FAMILIES AN OUTLET TO CHANNEL THEIR ENERGY INTO SOMETHING CONSTRUCTIVE, FOSTERING A SENSE OF COMMUNITY AND INSPIRING THEM TO STAY FOCUSED ON THEIR GOALS AND POTENTIAL.
VARIOUS SMALLER PROJECTS PROVIDING MENTORSHIP TO CHILDREN AND YOUTH IN WEST LOUISVILLE AND UNDERPRIVILEDGED CHILDREN IN SURROUNDINGN AREAS.
THE FOUNDATION WORKED THROUGH THE DELTA FOUNDATION'S HOOPS AND HOMEWORK PROGRAM, WITH AROUND 50 ATHLETES USING THEIR PLATFORM TO INSPIRE AND SUPPORT LOCAL YOUTH. THIS INITIATIVE COMBINES BASKETBALL WITH ACADEMIC SUPPORT, OFFERING KIDS A CONSTRUCTIVE OUTLET WHILE ENCOURAGING THEM TO STAY FOCUSED ON THEIR EDUCATION AND PERSONAL GROWTH. THE ATHLETES' INVOLVEMENT PROVIDES MENTORSHIP AND MOTIVATION, HELPING TO FOSTER POSITIVE ENERGY BOTH ON AND OFF THE COURT.
THE FOUNDATION HAS PARTNERED WITH DARE TO CARE TO MAKE A SIGNIFICANT IMPACT IN THE COMMUNITY THROUGH ITS MOBILE PANTRY AND FOOD PREPARATION KITCHEN. WITH THE INVOLVEMENT OF AROUND 75 ATHLETES, THIS INITIATIVE HELPS PROVIDE VITAL SUPPORT TO LOCAL SCHOOLS, FAMILIES, AND SHELTERS IN NEED. BY DEISTRIBUTING FOOD AND PREPARING MEALS, 02CIRCLE ATHLETES ARE NOT ONLY HELPING TO ADDRESS FOOD INSECURITY BUT ALSO OFFERING HOPE AND RELIEF TO THOSE FACING DIFFICULT CIRCUMSTANCES, REINFOMRING THE FOUNDATION'S COMMITMNET TO GIVING BACK AND STRENGTHENING THE COMMUNITY.
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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 | $679,348 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $679,348 |
| 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 | $679,348 |
| 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 | $560,021 |
| Advertising and promotion | $0 |
| Office expenses | $8,127 |
| 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 | $50,000 |
| Total functional expenses | $618,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,581 |
| 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 | $47,009 |
| 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 | $75,590 |
| 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 | $75,590 |
| Total liabilities and net assets/fund balances | $75,590 |