Pyramid Peak Foundation
- Assets
- $230.3m
- Revenue
- $119.7m
- Investments
- $192.4m
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 08/2012
- Data as of
- 12/2021
- EIN
- 45-3444341
Organization Overview
Pyramid Peak Foundation is located in Memphis, TN. The organization was established in 2012. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Pyramid Peak 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, Pyramid Peak Foundation generated $119.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (24.2%) each year. All expenses for the organization totaled $82.0m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
THE FOUNDATION PERFORMS NO DIRECT CHARITABLE ACTIVITIES. THE EXEMPT PURPOSE IS CARRIED OUT VIA CONTRIBUTIONS TO EXISTING CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James R Boyd Exec. Dir. & Director | 40 | $412,445 | |
Melissa R Russell Cfo/treasurer | 40 | $230,896 | |
Michelle Armstrong Instruction Support | 40 | $194,435 | |
Sherry D Crane Business Manager | 40 | $97,546 | |
Lee Harper Director | 1 | $0 | |
O Mason Hawkins Member & Director | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Miriam Dean Stokes Brown | 12/30/20 | $88,070 |
Edspace Consulting | 12/30/20 | $150,000 |
Health And Education Consultants Llc | 12/30/20 | $140,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $100,000,000 |
| Interest on Savings | $11,670 |
| Dividends & Interest | $2,054,034 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $17,658,855 |
| Capital Gain Net Income | $17,658,855 |
| Net ST Capital Gain | $5,037,540 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $119,724,559 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $643,341 |
| Other employee salaries and wages | $291,981 |
| Pension plans, employee benefits | $217,844 |
| Interest | $0 |
| Taxes | $46,215 |
| Depreciation | $59,421 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $232 |
| Other expenses | $1,019,862 |
| Total operating and administrative expenses | $2,323,933 |
| Contributions, gifts, grants paid | $79,650,000 |
| Total expenses and disbursements | $81,973,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $36,699,728 |
| 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 | $52,573,621 |
| Net Land, buildings, and equipment | $491,572 |
| Other assets | $649,166 |
| Total assets | $230,284,852 |
| Accounts payable and accrued expenses | $19,603 |
| 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 | $19,603 |
Grants Awarded
Over the last fiscal year, Pyramid Peak Foundation has awarded $77,630,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY FDN OF GREATER MEMPHIS PURPOSE: VARIOUS | $77,380,000 |
PROJECT GRAD USA PURPOSE: EDUCATION | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Arthur M Blank Family Foundation Atlanta, GA | $365,187,486 | $84,889,977 |
Pyramid Peak Foundation Memphis, TN | $230,284,852 | $119,724,559 |
Alice L Walton Foundation Bentonville, AR | $3,555,974,062 | $449,327,995 |
John Bulow Campbell Foundation Atlanta, GA | $793,659,742 | $103,345,098 |
The Rosser Foundation A Pure Charitable Trust And Public Charit Hampton, VA | $12,195,900 | $36,359,396 |
Jesus Fund Little Rock, AR | $476,522,715 | $128,635,887 |
James S Mcdonnell Foundation St Louis, MO | $496,119,714 | $80,243,658 |
Patterson Family Foundation Kansas City, MO | $1,526,002,008 | $1,174,628,172 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
Builders Initiative Bentonville, AR | $992,945,696 | $530,265,880 |
John M Belk Endowment Charlotte, NC | $344,527,989 | $19,824,991 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |