Profound Gentlemen Inc
- Assets
- $2.7m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 8
- Location
- Charlotte, NC
- Founding
- 03/2016
- Data as of
- 07/2022
- EIN
- 47-2225983
Organization Overview
Profound Gentlemen Inc is located in Charlotte, NC. The organization was established in 2016. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 07/2022, Profound Gentlemen Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Profound Gentlemen 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 07/2022, Profound Gentlemen Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 40.5% each year . All expenses for the organization totaled $1.4m during the year ending 07/2022. While expenses have increased by 38.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD A COMMUNITY OF MALE EDUCATORS OF COLOR WHO PROVIDE A PROFOUND ADDITIONAL IMPACT ON BOYS OF COLOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO A BUILD COMMUNITY OF MALE EDUCATORS OF COLOR WHO PROVIDE A PROFOUND ADDITIONAL IMPACT ON BOYS OF COLOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daquan Love Secretary | Officer | 1 | $0 |
Erik Turner Chairman | Officer | 1 | $0 |
Mike Ide Treasurer | Officer | 1 | $0 |
Dylan Holmes Board Member | Trustee | 1 | $0 |
Constance Lindsay Board Member | Trustee | 1 | $0 |
Chad Roundtree Board Member | Trustee | 1 | $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 | $2,843,840 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,843,840 |
| Total Program Service Revenue | $9,439 |
| Investment income | $0 |
| 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 | $2,853,315 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $552,277 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,534 |
| Payroll taxes | $44,662 |
| Fees for services: Management | $360,026 |
| 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 | $83,777 |
| Advertising and promotion | $3,651 |
| Office expenses | $748 |
| Information technology | $48,189 |
| Royalties | $0 |
| Occupancy | $4,694 |
| Travel | $103,720 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,232 |
| Interest | $23 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,872 |
| All other expenses | $64,560 |
| Total functional expenses | $1,447,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,725,952 |
| Savings and temporary cash investments | $827,185 |
| Pledges and grants receivable | $675 |
| Accounts receivable, net | $98,618 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,652,430 |
| Accounts payable and accrued expenses | -$54,646 |
| 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 | -$54,646 |
| Net assets without donor restrictions | $2,707,076 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,652,430 |
Grants Recieved
Over the last fiscal year, we have identified 26 grants that Profound Gentlemen Inc has recieved totaling $2,017,274.
| Awarding Organization | Amount |
|---|---|
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $418,141 |
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: K-12 EDUCATION | $362,518 |
Walton Family Foundation Inc Bentonville, AR PURPOSE: TO INCREASE THE DIVERSITY OF THE EDUCATOR WORKFORCE BY INCREASING RETENTION AND ADVANCEMENT OF TEACHERS OF COLOR. | $248,500 |
Charles And Helen Schwab Foundation San Francisco, CA PURPOSE: K-12 EDUCATION | $225,000 |
Belk Foundation Charlotte, NC PURPOSE: GENERAL OPERATING SUPPORT TO PROMOTE RETENTION OF MALE EDUCATORS OF COLOR IN NORTH CAROLINA THROUGH PROFESSIONAL DEVELOPMENT, LEADERSHIP AND MENTORSHIP MODELS | $124,834 |
Cleveland Avenue Foundation For Education Group Chicago, IL PURPOSE: TO SUPPORT THE PROGRAMMATIC OR OPERATING COSTS OF THE ORGANIZATION IN ALIGNMENT WITH THE 1954 PROJECT VALUES | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Youth Enrichment Program Of Wilson Wilson, NC | $22,968,665 | $15,099,824 |
Seeding Success Memphis, TN | $15,830,696 | $16,460,800 |
National Association Of Competitive Soccer Clubs Myrtle Beach, SC | $2,349,314 | $12,740,248 |
Emerald Youth Foundation Knoxville, TN | $26,135,509 | $10,102,853 |
National Honorary Beta Club Spartanburg, SC | $16,976,895 | $7,178,910 |
Girls On The Run International Charlotte, NC | $10,723,648 | $6,480,865 |
Tennessee Soccer Club Inc Brentwood, TN | $2,122,655 | $5,672,715 |
Impact Living Services Forest, VA | $3,151,473 | $6,118,517 |
Richmond First Tee Richmond, VA | $10,036,196 | $3,399,029 |
Corners Outreach Inc Peachtree Corners, GA | $1,471,202 | $3,739,961 |
Skillsusa Foundation Inc Leesburg, VA | $0 | $2,681,875 |
Horizons Atlanta Inc Atlanta, GA | $3,035,876 | $3,541,460 |