77 Foundation Inc
- Assets
- $232.4k
- Revenue
- $414.0k
- Investments
- $0.0
- Employees
- 5
- Location
- Annapolis, MD
- Founding
- 11/2019
- Data as of
- 06/2021
- EIN
- 84-3233772
Organization Overview
77 Foundation Inc is located in Annapolis, MD. The organization was established in 2019. According to its NTEE Classification (P30) the organization is classified as: Children & Youth Services, under the broad grouping of Human Services and related organizations. As of 06/2021, 77 Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 77 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 06/2021, 77 Foundation Inc generated $414.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (14.1%) each year. All expenses for the organization totaled $554.2k during the year ending 06/2021. 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
THE 77 FOUNDATION MISSION IS TO PROVIDE SOCIAL & FINANCIAL ASSISTANCE TO SURVIVORS (CHILDREN) OF FIRST RESPONDERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT ASSISTANCE FOR FIRST RESPONDERS' SURVIVORS.. (EDUCATIONAL) THE FOUNDATION OFFER FINANCIAL ASSISTANCE TO LOCAL SCHOOLS FOR AUXILIARY PROGRAMS FOR FIRST RESPONDERS' KIDS. ALSO WE ARE BUILDING A CAMP AND PARTNERING UP WITH OTHER FOUNDATION TO PROVIDE FINANCIAL ASSISTANCE AND SOCIAL ASSISTANCE FOR THEIR NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James M Kelly Jr CEO | OfficerTrustee | 40 | $91,895 |
James M Kelly Board Chair | OfficerTrustee | 1 | $0 |
James Navarro Board Member | Trustee | 1 | $0 |
Sharon Lee CFO | Officer | 40 | $91,895 |
April V Jackson COO | Officer | 40 | $91,895 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $414,015 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $414,015 |
| 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. | $314,333 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $154,224 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $38,560 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,000 |
| Information technology | $3,600 |
| Royalties | $0 |
| Occupancy | $5,040 |
| 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 | $3,897 |
| All other expenses | $0 |
| Total functional expenses | $554,154 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,394 |
| Savings and temporary cash investments | $228,045 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $232,439 |
| Accounts payable and accrued expenses | $93,438 |
| 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 | $0 |
| Total liabilities | $93,438 |
| 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 | $139,001 |