Modern Fund
- Assets
- $44.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Somerset, KY
- Founding
- 07/2014
- Data as of
- 12/2022
- EIN
- 46-4128819
Organization Overview
Modern Fund is located in Somerset, KY. The organization was established in 2014. According to its NTEE Classification (P99) the organization is classified as: Human Services N.E.C., under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Modern Fund 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, Modern Fund generated $91.4k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 29.0% each year . All expenses for the organization totaled $61.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
DIRECT SUPPORT OF MANY NEEDY INDIVIDUALS IN THE TEAM MODERN SERVICE AREA. AS PART OF OUR MISSION IN 2022, WE WERE ABLE TO SUPPORT INDIVIDUALS AND CHARITABLE ORGANIZATIONS IN EASTERN KENTUCKY WITH OVER $30K IN SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William M Ray Chairman | 5 | $0 | |
Robert M Ray Director | 2 | $0 | |
Barrett Harris Director | 2 | $0 | |
Edwin Phelps Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $91,449 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $91,449 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $765 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $0 |
| Total expenses | $61,135 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $44,821 |
| Other assets | $0 |
| Total assets | $44,821 |
| Total liabilities | $0 |
| Net assets or fund balances | $44,821 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Modern Fund has recieved totaling $413.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $413 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lindner Center Of Hope Professional Associates Mason, OH | $872,961 | $8,136,686 |
Renaissance Social Services Inc Chicago, IL | $2,138,317 | $6,632,596 |
National Council Of The United States Society Of St Vincent De Pa Maryland Heights, MO | $13,687,159 | $9,469,574 |
Nuestros Pequenos Hermanosinternational Round Hill, VA | $4,147,042 | $6,283,043 |
Hamdard Center For Health And Human Services Nfp Addison, IL | $4,418,541 | $7,412,868 |
The Orphanetwork Virginia Beach, VA | $3,197,466 | $6,293,778 |
Community Memorial Foundation Hinsdale, IL | $100,177,205 | $2,649,104 |
Korean-American Senior Center Inc Chicago, IL | $3,306,753 | $5,703,474 |
Third Option Foundation Reston, VA | $24,876,503 | $12,300,421 |
Make-A-Wish Foundation Of Missouri And Kansas Ballwin, MO | $7,006,477 | $5,966,300 |
Hope For Justice Inc Nashville, TN | $1,240,056 | $3,979,236 |
Nurses For Newborns Maplewood, MO | $4,515,132 | $4,457,590 |