Commencement Inc
- Assets
- $2.1m
- Revenue
- $85.3k
- Investments
- $2.1m
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- Data as of
- 12/2023
- EIN
- 85-4098965
Organization Overview
Commencement Inc is located in Baltimore, MD. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Commencement 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 12/2023, Commencement Inc generated $85.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (55.0%) each year.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Funk President | 1 | $0 | |
Debbie Williams Vice President | 1 | $0 | |
Jody Latimer Secretary | 1 | $0 | |
Erica Myers Treasurer | 1 | $0 | |
Monique Rizer Assistant Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $81,632 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,654 |
| Capital Gain Net Income | $3,654 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $85,286 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,340 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,734 |
| Total operating and administrative expenses | $16,475 |
| Contributions, gifts, grants paid | $90,000 |
| Total expenses and disbursements | $106,475 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,405 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $613,053 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,108,555 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $674 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $674 |
Grants Awarded
Over the last fiscal year, Commencement Inc has awarded $90,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MENTORING MENTORS INC PURPOSE: SPRING BREAK COLLEGE TOUR 2023 | $45,000 |
URBAN ALLIANCE FOUNDATION INC PURPOSE: PAID WORK EXPERIENCE; COLLEGE AND CAREER SERVICES MANAGER | $45,000 |