Pay It Forward Fund - Smithfield Virginia
- Assets
- $6.9k
- Revenue
- $735.0
- Investments
- $5.2k
- Employees
- 0
- Location
- Smtihfield, VA
- Founding
- 06/2015
- Data as of
- 12/2022
- EIN
- 47-4124354
Organization Overview
Pay It Forward Fund - Smithfield Virginia is located in Smtihfield, VA. The organization was established in 2015. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pay It Forward Fund - Smithfield Virginia 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, Pay It Forward Fund - Smithfield Virginia generated $735.0 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 (19.8%) each year. All expenses for the organization totaled $4.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (11.2%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDING TO LOCAL ELEMENTARY SCHOOLS TO FEED NEEDY CHILDREN AND GIVE EDUCATION ASSISTANCE. THE FUNDS ARE USED BY THE ELEMENTARY SCHOOLS TO PURCHASE FOOD THAT IS SENT TO THE HOMES OF UNDERNOURISHED AND OTHERWISE NEEDY CHILDREN AND TO PROVIDE EDUCATION ASSISTANCE TO NEEDY CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce P Gearey Treasurer | 0.5 | $0 | |
Robin E Gearey Pres/secr | 4 | $0 | |
Carol Hayes Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $394 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $341 |
| Capital Gain Net Income | $341 |
| Net ST Capital Gain | $341 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $735 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $53 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $358 |
| Contributions, gifts, grants paid | $4,000 |
| Total expenses and disbursements | $4,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,659 |
| 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 | $5,203 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,862 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Pay It Forward Fund - Smithfield Virginia has awarded $3,950 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WINDSOR ELEMENTARY SCHOOL PURPOSE: PROVIDE FUNDING TO LOCAL ELEMENTARY SCHOOLS TO FEED NEEDY CHILDREN. THE FUNDS ARE USED BY THE ELEMENTARY SCHOOLS TO PURCHASE FOOD THAT IS SENT TO THE HOMES OF UNDERNOURISHED AND OTHERWISE NEEDY CHILDREN. | $2,950 |
WINDSOR ELEMENTARY SCHOOL PURPOSE: PROVIDE FUNDING TO LOCAL ELEMENTARY SCHOOLS FOR EDUCATIONAL ASSISTANCE. THE FUNDS ARE USED BY THE ELEMENTARY SCHOOLS TO PROVIDE EDUCATION PROGRAMS AND SCHOLARSHIPS TO NEEDY CHILDREN. | $1,000 |