Powers Family Foundation Inc
- Assets
- $376.1k
- Revenue
- $10.7k
- Investments
- $373.8k
- Employees
- 0
- Location
- Reisterstown, MD
- Founding
- 04/2006
- Data as of
- 12/2022
- EIN
- 20-3999895
Organization Overview
Powers Family Foundation Inc is located in Reisterstown, MD. The organization was established in 2006. 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. Powers Family 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 12/2022, Powers Family Foundation Inc generated $10.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $37.8k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Powers Family Foundation Inc has awarded 36 individual grants totaling $222,993. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alvin M Powers President & Director | 1 | $0 | |
Mark A Powers Vice-President | 1 | $0 | |
Jeffrey B Powers Vice-President | 1 | $0 | |
Barry Weiskopf Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $8,143 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,528 |
| Capital Gain Net Income | $2,528 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $10,671 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,612 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $217 |
| Total operating and administrative expenses | $8,001 |
| Contributions, gifts, grants paid | $29,815 |
| Total expenses and disbursements | $37,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $286 |
| Savings and temporary cash investments | $2,034 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $376,132 |
| 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, Powers Family Foundation Inc has awarded $29,815 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATED JEWISH CHARITIES OF BALTIMORE PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |
BALTIMORE SYMPHONY ORCHESTRA PURPOSE: GENERAL OPERATING SUPPORT | $100 |
CHIZUK AMUNO CONGREGATION PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
MCDONOGH SCHOOL INC PURPOSE: EDUCATIONAL OPERATIONS | $200 |
UNIVERSITY OF MARYLAND PURPOSE: EDUCATIONAL OPERATIONS | $1,015 |
UNIVERSITY OF MICHIGAN PURPOSE: EDUCATIONAL OPERATIONS | $10,000 |