Portfolios With Purpose Inc
- Assets
- $30.4k
- Revenue
- $192.3k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 04/2013
- Data as of
- 12/2021
- EIN
- 30-0721627
Organization Overview
Portfolios With Purpose Inc is located in New York, NY. The organization was established in 2013. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Portfolios With Purpose 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 12/2021, Portfolios With Purpose Inc generated $192.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.6%) each year. All expenses for the organization totaled $277.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Portfolios With Purpose Inc has awarded 68 individual grants totaling $1,663,960. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PORTFOLIOS WITH PURPOSE WAS ESTABLISHED TO PROMOTE GIVING BY MEMBERS OF THE INVESTMENT COMMUNITY. ITS PURPOSES ARE TO ENCOURAGE INDIVIDUALS TO CONTRIBUTE TO CHARITY WHO OTHERWISE MIGHT NOT DO SO, TO PROVIDE OPPORTUNITIES FOR PEOPLE TO LEARN ABOUT CHARITIES SUPPORTED BY THEIR PEERS, ACQUANTAINCES, AND ROLE MODELS, AND TO OFFER AND PROVIDE ACCESS TO MENTORING IN THE WAYS OF PHILANTHROPY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAYMENTS FOR THE 2019 AND 2020 STOCK SELECTION "CLASSIC CHALLENGE" IN WHICH PARTICIPANTS COMPETE ON BEHALF OF THEIR CHARITY. APPROXIMATELY 500 PARTICIPANTS WILL COMPETE IN THE 2020 COMPETITION. 100% OF REVENUE RAISED IS GIVEN TO THE WINNERS' CHARITIES OF CHOICE AFTER CLOSE OF THE COMPETITION YEAR.
PAYMENTS FOR THE 2019 AND 2020 STOCK SELECTION "CAMPUS CHALLENGE" IN WHICH PARTICIPATING COLLEGE STUDENTS COMPETE ON BEHALF OF THEIR CHARITY. APPROXIMATELY 500 PARTICIPANTS WILL COMPETE IN THE 2020 COMPETITION. 100% OF REVENUE RAISED IS GIVEN TO THE WINNERS' CHARITIES OF CHOICE AFTER CLOSE OF THE COMPETITION YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett Waikart Executive Director | OfficerTrustee | 20 | $0 |
Scott Rosen Director | Trustee | 0.5 | $0 |
Nicholas Panetta Director | Trustee | 0.5 | $0 |
Tim Selby Director | Trustee | 0.5 | $0 |
Meredith Trivedi Director | Trustee | 0.5 | $0 |
Andrew Wellington Director | Trustee | 0.5 | $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 | $192,330 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $192,330 |
| Total Program Service Revenue | $0 |
| Investment income | $5 |
| 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 | $192,335 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $76,398 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,675 |
| Advertising and promotion | $80,982 |
| Office expenses | $0 |
| Information technology | $35,674 |
| 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 | $15,192 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $276,956 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $861 |
| Savings and temporary cash investments | $10,001 |
| 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 | $0 |
| Net Land, buildings, and equipment | $19,548 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,410 |
| Accounts payable and accrued expenses | $26,600 |
| 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 | $26,600 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $3,810 |
| Total liabilities and net assets/fund balances | $30,410 |
Grants Awarded
Over the last fiscal year, Portfolios With Purpose Inc has awarded $4,337 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: TO HELP WITH THE ORGANIZATION'S PROGRAM EXPENSES FOR THE UPCOMING FISCAL YEAR. | $1,582 |
Kennesaw, GA PURPOSE: TO HELP WITH THE ORGANIZATION'S PROGRAM EXPENSES FOR THE UPCOMING FISCAL YEAR. | $1,458 |
Maplewood, NJ PURPOSE: TO HELP WITH THE ORGANIZATION'S PROGRAM EXPENSES FOR THE UPCOMING FISCAL YEAR. | $791 |
Chicago, IL PURPOSE: TO HELP WITH THE ORGANIZATION'S PROGRAM EXPENSES FOR THE UPCOMING FISCAL YEAR. | $263 |
Kew Gardens, NY PURPOSE: TO HELP WITH THE ORGANIZATION'S PROGRAM EXPENSES FOR THE UPCOMING FISCAL YEAR. | $243 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Portfolios With Purpose Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
100 Women In Finance Foundation New York, NY PURPOSE: GENERAL SUPPORT | $25,000 |
Community Foundation Of Mendocino County Inc Ukiah, CA PURPOSE: ANNUAL SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Comic Relief Inc New York, NY | $28,941,799 | $35,831,552 |
Anabaptist Foundation Lewisburg, PA | $47,495,861 | $36,276,504 |
The Lenfest Inst For Journalism Spe Asset Fund Of The Phl Foundation Philadelphia, PA | $99,634,192 | $14,397,650 |
Givinga Foundation Inc Wellesley, MA | $2,876,364 | $15,849,424 |
Justgive Inc Weston, CT | $5,012,575 | $11,301,311 |
Clara Lionel Foundation New York, NY | $44,086,810 | $23,596,509 |
Visionspring New York, NY | $15,269,850 | $12,679,680 |
America Gives Inc New York, NY | $1,069,288 | $7,827,978 |
Foundations In Education Inc Bridgeport, CT | $36,181,181 | $11,526,982 |
Grant Recommendation Fund Spring Valley, NY | $460,055 | $4,767,095 |
Yougivegoods Foundation Inc Mendham, NJ | $162,103 | $4,310,625 |
Passavant Hospital Foundation Pittsburgh, PA | $52,435,888 | $5,249,843 |