Progeny Foundation Inc
- Assets
- $9.4m
- Revenue
- $703.5k
- Investments
- $5.4m
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 08/2009
- Data as of
- 12/2022
- EIN
- 26-2837637
Organization Overview
Progeny Foundation Inc is located in Indianapolis, IN. The organization was established in 2009. 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. Progeny 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, Progeny Foundation Inc generated $703.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 41.5% each year . All expenses for the organization totaled $399.5k 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
PROVIDE HIGH QUALITY EDUCATIONAL AND DEVELOPMENT OPPORTUNITIES TOMIDDLE SCHOOL AND HIGH SHOOL STUDENTS THROUGH MENTORING, PHYSICAL ANDNUTRITION TRAINING, AND SPORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Deram President | 20 | $0 | |
Brooke Deram Secretary | 0 | $0 | |
Vicki Perry Chairperson | 0 | $0 | |
Jason Zoch Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $431,749 |
| Interest on Savings | $12,606 |
| Dividends & Interest | $51,007 |
| Net Rental Income | $33 |
| Net Gain on Sale of Assets | $217,612 |
| Capital Gain Net Income | $217,612 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$9,555 |
| Total Revenue | $703,452 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $156 |
| Taxes | $2,610 |
| Depreciation | $68,750 |
| Occupancy | $229,182 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $6,507 |
| Other expenses | $49,248 |
| Total operating and administrative expenses | $399,494 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $399,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $775,883 |
| Savings and temporary cash investments | $0 |
| 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 | $17,447 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,444,135 |
| Net Land, buildings, and equipment | $3,181,250 |
| Other assets | $0 |
| Total assets | $9,380,288 |
| 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 | $115,924 |
| Total liabilities | $115,924 |