The Business Of Good Foundation
- Assets
- $13.5m
- Revenue
- $166.7k
- Investments
- $12.4m
- Employees
- 0
- Location
- Ashtabula, OH
- Founding
- 01/2002
- Data as of
- 12/2022
- EIN
- 34-1973248
Organization Overview
The Business Of Good Foundation is located in Ashtabula, OH. The organization was established in 2002. 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. Business Of Good 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 12/2022, Business Of Good Foundation generated $166.7k 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 (20.9%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Business Of Good Foundation has awarded 165 individual grants totaling $3,720,861. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EXECUTIVE COACHING AND CONSULTING PROGRAM SUPPORTS NON-PROFIT LEADERS AND SOCIAL ENTREPRENEURS IN NORTHEAST OHIO WHO ARE COMMITTED TO BUILDING THE SELF-ESTEEM AND EMPOWERMENT OF THE ECONOMICALLY DISADVANTAGED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Roller Director | 2 | $0 | |
Alice Mccarthy Director | 2 | $0 | |
Timothy P Mccarthy Director | 2 | $0 | |
Stuart W Cordell President | 10 | $0 | |
Andrea Bushweiler Treasurer | 15 | $24,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mentorcliq | 12/30/18 | $150,000 |
Community Strategies Consulting | 12/30/18 | $80,000 |
Next Step Business Consulting | 12/30/18 | $55,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $58,264 |
| Interest on Savings | $12,266 |
| Dividends & Interest | $279,021 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$182,844 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $166,707 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $24,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $762 |
| Printing and publications | $0 |
| Other expenses | $48,989 |
| Total operating and administrative expenses | $106,626 |
| Contributions, gifts, grants paid | $979,500 |
| Total expenses and disbursements | $1,086,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,055,017 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,552,714 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $13,491,647 |
| Accounts payable and accrued expenses | $111 |
| 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 | $111 |
Grants Awarded
Over the last fiscal year, The Business Of Good Foundation has awarded $979,500 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICA MENTORS PURPOSE: GENERAL OPERATIONS | $250,000 |
ASHTABULA RIVER FOUNDATION PURPOSE: GENERAL OPERATIONS | $10,000 |
ASHTABULA COUNTY YMCA PURPOSE: GENERAL OPERATIONS | $25,500 |
FIRST TEE OF CLEVELAND PURPOSE: GENERAL OPERATIONS | $5,000 |
NEO FUND PURPOSE: GENERAL OPERATIONS | $147,000 |
SEA CHANGE PURPOSE: GENERAL OPERATIONS | $450,000 |