Second Family Foundation Inc
- Assets
- $11.3m
- Revenue
- $223.9k
- Investments
- $10.6m
- Employees
- 0
- Location
- Chapel Hill, NC
- Founding
- 04/2007
- Data as of
- 12/2022
- EIN
- 20-5885567
Organization Overview
Second Family Foundation Inc is located in Chapel Hill, NC. The organization was established in 2007. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Second 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, Second Family Foundation Inc generated $223.9k 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 (9.1%) each year. All expenses for the organization totaled $314.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRANSPORTATION RESOURCES AND SUPPORT VIA ORANGE COUNTY DSS WERE PROVIDED TO 40+ PROGRAM YOUTH OVER THE COURSE OF 2022. THIS SERVICE AND PROGRAM AFFORDED YOUTH THE MOBILITY TO ATTEND EMPLOYMENT (SFWORKS) PROGRAMS AS WELL AS OTHER SELF-DEVELOPMENT WORK SUCH AS TUTORING AND SPECIALIZED EDUCATIONAL NEEDS. JOB COACHING AND SUPPORT IS ALSO PROVIDED DURING THE TRANSPORTATION TIMES.
SFWORKS - YOUTH EMPLOYMENT PROGRAM THAT CONNECTS YOUTH WHO ARE EXPERIENCING RISK TO THEIR FIRST JOB, AS WELL AS, REFERENCE BUILDING EXPERIENCES AND RELATIONSHIPS.
ACADEMIC TUTORING/SUPPORT AND INCENTIVE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Miles President/treasurer | 2 | $0 | |
Elston Miles Vice President/secretary | 0.25 | $0 | |
Wendy Miles Baer Director | 0.25 | $0 | |
Alexandra Miles Skove Director | 0.25 | $0 | |
Andrea Alden Miles Director | 0.25 | $0 | |
Edward William Miles Director | 0.25 | $27,035 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $221,580 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,220 |
| Capital Gain Net Income | $1,220 |
| Net ST Capital Gain | $1,220 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,127 |
| Total Revenue | $223,927 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $27,035 |
| Other employee salaries and wages | $88,357 |
| Pension plans, employee benefits | $7,406 |
| Interest | $0 |
| Taxes | $12,830 |
| Depreciation | $576 |
| Occupancy | $15,980 |
| Travel, conferences, and meetings | $3,001 |
| Printing and publications | $1,044 |
| Other expenses | $148,796 |
| Total operating and administrative expenses | $314,683 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $314,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,559 |
| Savings and temporary cash investments | $727,530 |
| 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 | $4,491,241 |
| Net Land, buildings, and equipment | $905 |
| Other assets | $0 |
| Total assets | $11,312,995 |
| 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 | $25,851 |
| Total liabilities | $25,851 |