Vertuassets Foundation Inc
- Assets
- $9.3m
- Revenue
- $6.2m
- Investments
- $6.2m
- Employees
- 0
- Location
- Alpharetta, GA
- Founding
- 06/2018
- Data as of
- 12/2020
- EIN
- 82-2328799
Organization Overview
Vertuassets Foundation Inc is located in Alpharetta, GA. The organization was established in 2018. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vertuassets Foundation 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 12/2020, Vertuassets Foundation Inc generated $6.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $3.9m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Vertuassets Foundation Inc has awarded 16 individual grants totaling $14,386,584. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
ENABLE DONATIONS OF ASSETS TO FUND CAUSES BENEFITING THOSE IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S MISSION IS TO ENABLE DONATIONS OF ASSETS TO FUND CAUSES BENEFITING THOSE IN NEED. VERTUASSETS REACHES INDIVIDUALS AND BUSINESSES THAT HAVE A DESIRE TO GIVE CHARITABLY FROM THEIR WEALTH BY DONATING APPRECIATED ASSETS SO THAT MORE FINANCIAL RESOURCES MAY BE GIVEN TO NON PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dana E Ring Secr./treas./director | OfficerTrustee | 2 | $0 |
Pamela Pugh President/director | OfficerTrustee | 30 | $0 |
Ray Tyler Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,949,021 |
| Investment income | $2,945 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$7,248 |
| Net Gain/Loss on Asset Sales | -$728,551 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,216,167 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,323 |
| 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 | $142,225 |
| Advertising and promotion | $0 |
| Office expenses | $702 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,916,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $344,822 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $318,345 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,240,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,195,600 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $102,193 |
| Total assets | $9,269,385 |
| Accounts payable and accrued expenses | $17 |
| Grants payable | $0 |
| Deferred revenue | $7,500 |
| 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 | $150,516 |
| Total liabilities | $158,033 |
| 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 |
| Total liabilities and net assets/fund balances | $9,111,352 |
Grants Awarded
Over the last fiscal year, Vertuassets Foundation Inc has awarded $7,064,089 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Alpharetta, GA PURPOSE: GRANT MAKING | $7,037,218 |
Gainesville, GA PURPOSE: CHURCHES | $8,800 |
Phoenix, AZ PURPOSE: SUPPORT | $7,250 |
ST JAMES EPISCOPAL CHURCH PURPOSE: CHURCHES | $5,423 |
Columbus, OH PURPOSE: SUPPORT | $5,398 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Vertuassets Foundation Inc has recieved totaling $138,590.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: SUPPORT | $81,767 |
Hayes Family Foundation Fort Lauderdale, FL PURPOSE: GENERAL EXEMPT PURPOSE | $32,348 |
Tmg Foundation Gridley, IL PURPOSE: GENERAL SUPPORT | $24,475 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
Aston Park Health Care Center Inc Asheville, NC | $17,105,214 | $12,530,764 |
New Morning Foundation Columbia, SC | $9,598,750 | $10,587,010 |
University Of South Florida Institute Of Applied Engineering I Tampa, FL | $5,205,656 | $9,587,469 |
Swim Across America Inc Charlotte, NC | $6,654,266 | $9,920,780 |
The Legacy Foundation At Shell Point Inc Fort Myers, FL | $5,518,203 | $5,863,574 |
East Lake Foundation Inc Atlanta, GA | $69,998,744 | $30,410,500 |
Schoolseed Foundation Memphis, TN | $5,107,519 | $7,793,603 |
Scintilla Charter Academy Inc Valdosta, GA | $15,718,556 | $7,823,461 |
Tampa-Orlando-Pinellas Jewish Foundation Inc Tampa, FL | $66,534,235 | $10,949,791 |
Wellstar Foundation Inc Marietta, GA | $30,643,336 | $9,116,090 |
Chapters Health Foundation Inc Temple Terrace, FL | $14,703,109 | $7,254,901 |