P3 Foundation Inc
- Assets
- $75.1m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 03/2018
- Data as of
- 12/2021
- EIN
- 82-2912570
Organization Overview
P3 Foundation Inc is located in Charlotte, NC. The organization was established in 2018. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. P3 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 12/2021, P3 Foundation Inc generated $5.1m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 61.3% each year . All expenses for the organization totaled $9.5m during the year ending 12/2021. 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 PARTNER WITH PUBLIC AND CHARITABLE ENTITIES TO DEVELOP SERVICES, ACTIVITIES, AND PROGRAMS DESIGNED FOR SENIOR HOUSING, EDUCATION, HEALTH CARE FACILITIES, AFFORDABLE HOUSING, AND GOVERNMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT HOUSING FACILITIES - LEASE AND MANAGEMENT OF STUDENT HOUSING CONSISTING OF 246 BEDS IN RESIDENTIAL PROPERTIES LOCATED IN THE VICINITY OF FRANKLIN & MARSHALL COLLEGE IN LANCASTER, PA UNDER A MASTER LEASE AGREEMENT WITH THE COLLEGE.
STUDENT HOUSING FACILITIES - LEASE AND MANAGEMENT OF STUDENT HOUSING CONSISTING OF 238 BEDS IN RESIDENTIAL PROPERTY LOCATED ON THE CAMPUS OF CLAREMONT GRADUATE UNIVERSITY IN CLAREMONT, CALIFORNIA UNDER A MASTER LEASE AGREEMENT WITH THE COLLEGE.
PROVIDING SERVICES, ACTIVITIES AND PROGRAMS DEDICATED TO FURTHERING COMMUNITY DEVELOPMENT, EDUCATION, AND LESSENING THE BURDENS OF GOVERNMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Klein President | OfficerTrustee | $0 | |
Jim Moore Treasurer | OfficerTrustee | $0 | |
Greg Fawcett Secretary | OfficerTrustee | $0 | |
Kim Wyatt Executive Di | Officer | $0 | |
Andrew Kittleson Director | Trustee | $0 | |
Chrstopher Liedel Director | Trustee | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,131,237 |
| Investment income | $703 |
| 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 | $5,131,940 |
| 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 | $278,360 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $45,611 |
| Payroll taxes | $22,721 |
| Fees for services: Management | $272,180 |
| Fees for services: Legal | $1,284 |
| Fees for services: Accounting | $51,722 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $197,812 |
| Advertising and promotion | $25,523 |
| Office expenses | $58,804 |
| Information technology | $50,385 |
| Royalties | $0 |
| Occupancy | $640,529 |
| Travel | $7,612 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,026,279 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,444,824 |
| Insurance | $125,896 |
| All other expenses | $62,130 |
| Total functional expenses | $9,486,578 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,679,543 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $365 |
| 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 | $170,865 |
| Net Land, buildings, and equipment | $40,630,328 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,626,487 |
| Total assets | $75,107,588 |
| Accounts payable and accrued expenses | $4,338,907 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $56,520,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,425,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,951,257 |
| Total liabilities | $79,235,164 |
| Net assets without donor restrictions | -$4,127,576 |
| 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 | $75,107,588 |
Grants Awarded
Over the last fiscal year, P3 Foundation Inc has awarded $65,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Farmville, VA PURPOSE: HULL SPRINGS FARM | $21,667 |
Colorado Springs, CO PURPOSE: OPERATIONS | $21,667 |
Charlotte, NC PURPOSE: OPERATIONS | $10,833 |
Charlotte, NC PURPOSE: OPERATIONS | $10,833 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that P3 Foundation Inc has recieved totaling $6,801.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,350 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $850 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $501 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Improvement Council Inc Edenton, NC | $4,246,156 | $20,948,013 |
Frontstream Global Fund Alexandria, VA | $871,140 | $19,414,740 |
Catholic Charities Of Tennessee Inc Nashville, TN | $6,708,389 | $19,282,106 |
Country Club Of Landfall Wilmington, NC | $36,040,032 | $19,318,350 |
Miracle Hill Ministries Inc Greenville, SC | $35,712,614 | $22,314,976 |
Pee Dee Community Action Agency Florence, SC | $4,501,947 | $18,161,366 |
Commonwealth Catholic Charities Richmond, VA | $9,806,748 | $17,802,660 |
Action Pathways Inc Fayetteville, NC | $19,024,818 | $19,740,388 |
Southeast Tennessee Human Resource Agency Dunlap, TN | $24,351,699 | $17,068,562 |
Western Carolina Community Action Inc Hendersonville, NC | $8,009,014 | $16,309,816 |
Highland School Inc Warrenton, VA | $41,730,791 | $16,433,775 |
Mid-Cumberland Community Action Agency Inc Mount Juliet, TN | $5,482,077 | $16,120,135 |