Mercy Foundation Group Inc
- Assets
- $108.2k
- Revenue
- $39.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Tampa, FL
- Founding
- Data as of
- 12/2017
- EIN
- 26-1951381
Organization Overview
Mercy Foundation Group Inc is located in Tampa, FL. Mercy Foundation Group 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 12/2017, Mercy Foundation Group Inc generated $39.0k in total revenue. All expenses for the organization totaled $1.9m during the year ending 12/2017.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2017
Describe the Organization's Mission:
Part 3 - Line 1
A GLOBAL LIFE IMPROVEMENT ORGANIZATION THAT HELPS UNDERPRIVILEGED ENTREPRENEURS CREATE A BRIGHTER FUTURE AND MORE PRODUCTIVE LIVES FOR THEMSELVES, THEIR FAMILIES AND THEIR COMMUNITIES VIA EDUCATIONAL AND MICROFINANCE PROGRAMS. WE ARE UNIQUE IN THAT THESE ACTIVITIES ARE ONLY
Describe the Organization's Program Activity:
Part 3 - Line 4a
MERCY ACQUIRES REAL ESTATE ASSETS VIA BARGAIN SALE TRANSACTIONS AND THEN EITHER DERIVES INCOME FROM THOSE ASSETS OR TURNS THOSE ASSETS INTO CASH TO ULTIMATELY FUND MERCY'S CHARITABLE PROGRAMS. UNLIKE TRADITIONAL CASH FUNDRAISING, THIS PROCESS TAKES A LONG TIME TO DERIVE AT THE NET CASH PROCEEDS THAT CAN THEN BE USED FOR THE CHARITABLE AND EDUCATIONAL ACTIVITIES.
MERCY WORKS WITH OTHER CHARITABLE 501(C)(3) ORGANIZATIONS TO HELP FUND MICROLOANS TO UNDERPRIVILEGED ENTREPRENEURS IN OUR AIM TO HELP BREAK THE CYCLE OF POVERTY AROUND THE WORLD. IN THE LAST YEAR, MERCY HAS HAS HELPED FUND OVER 2,000 MICROLOANS IN OVER 60 COUNTRIES TO UNDERPRIVILEGED ENTREPRENEURS WITH THE NET CASH PROCEEDS IT DERIVED FROM ITS REAL ESTATE TRANSACTIONS.
MERCY IS ALSO DEVELOPING FINANCIAL AND ENTREPRENEURIAL EDUCATIONAL PROGRAMS FOR UNDERPRIVILEGED PEOPLE CREATE AND MULTIPLY CAPITAL RESOURCES INSTEAD OF JUST CONSUMING IT IN OUR AIM TO HELP BREAK THE CYCLE OF POVERTY AROUND THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsay Johnson Executive Director | OfficerTrustee | 0 | $0 |
Joe Johnson CEO & Director | OfficerTrustee | 10 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| 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 | $38,987 |
| 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 | $735 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,150 |
| 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 | $1,222 |
| Insurance | $0 |
| All other expenses | $1,932,985 |
| Total functional expenses | $1,937,592 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,728 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,680 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $34,829 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $108,237 |
| Accounts payable and accrued expenses | $31,003 |
| 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 | $31,003 |
| Unrestricted restricted net Assets | $77,234 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $77,234 |