Passport Foundation
- Assets
- $47.5m
- Revenue
- $13.1m
- Investments
- $41.3m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 02/2008
- Data as of
- 12/2021
- EIN
- 26-1580196
Organization Overview
Passport Foundation is located in Wilmington, DE. The organization was established in 2008. 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. Passport 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 12/2021, Passport Foundation generated $13.1m in total revenue. All expenses for the organization totaled $4.6m during the year ending 12/2021. While expenses have increased by 21.9% per year over the past 4 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.
Since 2020, Passport Foundation has awarded 117 individual grants totaling $5,017,291. 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 |
|---|---|---|---|
John H Burbank III Dir, Pres | 1 | $0 | |
Jim Cunningham Dir, Trustee | 1 | $0 | |
Joanne Poile Treas | 1 | $0 | |
Julie Kim Sec | 20 | $0 | |
Walther Lovato Dir, Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Navolio & Tallman Llp | 12/30/21 | $135,000 |
Foundation Source | 12/30/21 | $145,533 |
Janet Maughan | 12/30/21 | $144,421 |
Susan Chen | 12/30/21 | $53,639 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $8,363 |
| Dividends & Interest | $262,158 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,969,612 |
| Capital Gain Net Income | $10,969,619 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,862,665 |
| Total Revenue | $13,102,798 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $2,616 |
| Taxes | $139,261 |
| Depreciation | $0 |
| Occupancy | $347 |
| Travel, conferences, and meetings | $1,353 |
| Printing and publications | $309 |
| Other expenses | $1,318,995 |
| Total operating and administrative expenses | $1,868,190 |
| Contributions, gifts, grants paid | $2,704,357 |
| Total expenses and disbursements | $4,572,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,986,597 |
| Net Accounts receivable | $161,994 |
| 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 | $40,635,959 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $47,486,948 |
| 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, Passport Foundation has awarded $2,704,357 in support to 65 organizations.
| Grant Recipient | Amount |
|---|---|
Chapel Hill, NC PURPOSE: AFRICA PROPOSAL | $250,000 |
Reston, VA PURPOSE: PRI LOAN FORGIVENESS FOR PRI - PRACTICE GREENHEALTH IN MARCH 2021. QUALIFYING DISTRIBUTION COUNTED IN 2016 | $100,000 |
New York, NY PURPOSE: SAFER FOOD FOR ALL | $100,000 |
Washington, DC PURPOSE: CHEMFORWARD: SAFE + CIRCULAR FOOD PACKAGING | $100,000 |
UNIVERSITY OF MASSACHUSETTS FOUNDATION INC PURPOSE: CREATING A COMPELLING ECONOMIC AND BUSINESS CASE F | $100,000 |
New York, NY PURPOSE: PROTECTING THE PUBLIC FROM TOXIC CHEMICALS | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Gordon & Llura Gund Foundation Princeton, NJ | $18,024,465 | $6,191,436 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
F M Kirby Foundation Inc Morristown, NJ | $303,494,554 | $34,334,700 |
E Rhodes And Leona B Carpenter Foundation Radnor, PA | $250,926,779 | $43,460,229 |
Victoria Foundation Inc Newark, NJ | $335,393,283 | $24,137,337 |
Kahlert Foundation Inc Sykesville, MD | $93,179,960 | $19,162,440 |