Renown Collective Inc
- Assets
- $106.2k
- Revenue
- $213.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Charlotte, NC
- Founding
- 04/2019
- Data as of
- 12/2022
- EIN
- 81-3845305
Organization Overview
Renown Collective Inc is located in Charlotte, NC. The organization was established in 2019. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Renown Collective Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Renown Collective 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 12/2022, Renown Collective Inc generated $213.8k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 28.3% each year . All expenses for the organization totaled $203.0k during the year ending 12/2022. 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
RENOWN COLLECTIVE IS A NETWORK OF SOCIAL ENTREPRENEUR COMPANIES UNIFIED AROUND A COMMON OBJECTIVE: TO BRING HOPE TO COMMUNITIES IN AFRICA AND AROUND THE GLOBE. RENOWN COLLECTIVE IS A HOLISTIC STRATEGY EMPLOYED THROUGH DIVERSE SOCIAL INITIATIVES. IT IS FOCUSED ON CREATIVELY ADDRESSING AND FUNDING SOLUTIONS TO THE GLOBAL NEEDS OF CLEAN WATER, EDUCATION, HEALTHCARE, HOLISTIC SPIRITUAL CARE, ORPHANS, MICRO-FINANCE, AND OTHER ISSUES WHICH EXIST AS OBSTACLES FOR HOPE IN THE LIVES OF PEOPLE ALL AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRTY WATER IS A BULLY THE AFRICAN PEOPLE HAVE BEEN FIGHTING FOR CENTURIES. THE HOLISTIC EFFECTS ARE DEVASTATING. AT RENOWN COLLECTIVE, WEVE JOINED THIS FIGHT BY TEAMING UP WITH THE BEST AFRICAN-LED ORGANIZATIONS WHO ARE COMMITTED TO HOLISTIC AND SUSTAINABLE SOLUTIONS. TOGETHER, WE WANT TO DEAL THE FINAL BLOW TO THIS BULLY SO THE AFRICAN PEOPLE CAN EXPERIENCE THE FLOURISHING THEY WERE MADE FOR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Patrick Mitchell Chairman | OfficerTrustee | 45 | $93,565 |
Chaz Ripley Secretary | Trustee | 20 | $5,729 |
Don Bumbulucz Treasurer | 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 | $213,927 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $213,927 |
| Total Program Service Revenue | $0 |
| 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 | -$151 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $213,776 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $48,611 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $99,294 |
| 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 | $6,622 |
| Payroll taxes | $7,596 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $418 |
| Office expenses | $1,850 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,487 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,115 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $48 |
| Insurance | $0 |
| All other expenses | $1,928 |
| Total functional expenses | $202,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $105,788 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $425 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25 |
| Total assets | $106,238 |
| Accounts payable and accrued expenses | $227 |
| 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 | $2,129 |
| Total liabilities | $2,356 |
| Net assets without donor restrictions | $103,882 |
| 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 | $106,238 |