3 To 1 Foundation
- Assets
- $1.1m
- Revenue
- $119.3k
- Investments
- $674.9k
- Employees
- 2
- Location
- Plano, TX
- Founding
- 03/1998
- Data as of
- 11/2021
- EIN
- 75-2731283
Organization Overview
3 To 1 Foundation is located in Plano, TX. The organization was established in 1998. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 11/2021, 3 To 1 Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 3 To 1 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 11/2021, 3 To 1 Foundation generated $119.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $103.6k during the year ending 11/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE THE COMMUNITY BY PROVIDING FINANCIAL SEMINARS AND TOOLS FOR BUDGETING, FINANCIAL GOAL SETTING, DEBT MANAGEMENT, INVESTMENT BASICS, WEALTH ACCUMULATION AND WEALTH MANAGEMENT. TO PROVIDE NEED & ACADEMIC-BASED SCHOLARSHIPS FOR COLLEGE STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION CONDUCTED SEMINARS PROVIDING INFORMATION AND TOOLS FOR BUDGETING, FINANCIAL GOAL SETTING, DEBT MANAGEMENT, INVESTMENT BASICS, WEALTH ACCUMULATION AND WEALTH MANAGEMENT. SEMINARS CONDUCTED FOR HIGH SCHOOL STUDENTS ALSO INCLUDED PRESENTING INFORMATION ABOUT CAREERS IN ACCOUNTING, TAX, BANKING, FINANCIAL PLANNING AND INVESTMENT ADVISING. THE ORGANIZATION ALSO AWARDED SCHOLARSHIPS TO COLLEGE STUDENTS.
OTHER EXPENSES THAT ARE FOR THE ONGOING OPERATIONS OF THE FOUNDATION TO PRESENT MORE SEMINARS THAT WERE NOT DIRECT EXPENSES OF THE SEMINARS PRESENTED THIS FISCAL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Mulholland Former Foundation Director | 40 | $36,161 | |
Wayne Dominick Foundation Director | Trustee | 40 | $23,750 |
Darrell Cain Pres/board Chairman | OfficerTrustee | 5 | $0 |
Richard Chillemi II Vice Pres/board Member | OfficerTrustee | 5 | $0 |
Michael Rosenberg Board Member | Trustee | 1 | $0 |
Michelle Baird Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $10,592 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,227 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,819 |
| Total Program Service Revenue | $2,041 |
| Investment income | $14,531 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $71,740 |
| Net Income from Fundraising Events | $7,199 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $119,330 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $20,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $59,911 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $108 |
| Payroll taxes | $4,583 |
| Fees for services: Management | $0 |
| 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 | $0 |
| Advertising and promotion | $1,211 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $180 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,249 |
| All other expenses | $4,082 |
| Total functional expenses | $103,627 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50,866 |
| Savings and temporary cash investments | $329,985 |
| Pledges and grants receivable | $1,810 |
| Accounts receivable, net | $0 |
| 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 | $674,923 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,262 |
| Total assets | $1,059,846 |
| Accounts payable and accrued expenses | $0 |
| 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 | $20,385 |
| Total liabilities | $20,385 |
| Net assets without donor restrictions | $0 |
| 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 | $1,039,461 |
| Total liabilities and net assets/fund balances | $1,059,846 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that 3 To 1 Foundation has recieved totaling $6,278.
| Awarding Organization | Amount |
|---|---|
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $6,242 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $36 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Legett Foundation Abilene, TX | $82,883,497 | $23,683,505 |
Kickapoo Springs Foundation Abilene, TX | $72,184,356 | $14,228,741 |
L S U Property Foundation Baton Rouge, LA | $15,333,183 | $5,972,139 |
Gibbs Christian Education Foundation Inc Owasso, OK | $5,420,863 | $1,976,079 |
Liberty Ukraine Foundation Austin, TX | $882,212 | $2,684,973 |
Friend Ships Lake Charles, LA | $2,732,214 | $1,634,834 |
Trinity Oaks Enterprises San Antonio, TX | $6,662,220 | $1,110,541 |
At&t Employee Relief Fund Dallas, TX | $5,954,314 | $1,646,484 |
The Manna Center Siloam Springs, AR | $826,207 | $1,196,710 |
Holt Foundation San Antonio, TX | $3,165,417 | $1,736,930 |
Pauls Valley General Hospital Foundation Pauls Valley, OK | $1,892,753 | $1,057,903 |
Wilson Charitable Tr Jacksonville, AR | $1,312,947 | $53,064 |