Sherman Phoenix Foundation Inc
- Assets
- $291.0k
- Revenue
- $668.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Milwaukee, WI
- Founding
- Data as of
- 12/2022
- EIN
- 85-4125394
Organization Overview
Sherman Phoenix Foundation Inc is located in Milwaukee, WI. 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. Sherman Phoenix 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 12/2022, Sherman Phoenix Foundation Inc generated $668.7k in total revenue. All expenses for the organization totaled $411.2k during the year ending 12/2022. While expenses have increased by 54.9% per year over the past 2 years. They've been increasing with an increasing level of total revenue. 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
THE SHERMAN PHOENIX FOUNDATION BUILDS INCLUSIVE AND JUST ECONOMIES FOR COMMUNITIES OF COLOR THROUGH STRATEGIES THAT SUPPORT ENTREPRENEURSHIP, WELLNESS, WORKPLACE INCLUSION, AND ECONOMIC EMPOWERMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENTREPRENEURSHIP AND SMALL BUSINESS SUCCESS
OTHER PROGRAM SERVICES
CULTURAL AND ECONOMIC VIBRANCY
ECONOMIC EQUITY AND EMPOWERMENT
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Adams President | OfficerTrustee | 2 | $0 |
Kaycee Frost Vice President | OfficerTrustee | 2 | $0 |
Kenge Adams Secretary | OfficerTrustee | 2 | $0 |
Oren Burks Treasurer | OfficerTrustee | 2 | $0 |
Angela Adams Director | Trustee | 1 | $0 |
Reginald Adams Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $175,667 |
| All other contributions, gifts, grants, and similar amounts not included above | $469,018 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $644,685 |
| Total Program Service Revenue | $23,931 |
| Investment income | $81 |
| 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 | $668,697 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,310 |
| 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. | $95,608 |
| Compensation of current officers, directors, key employees. | $9,561 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,353 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,300 |
| Payroll taxes | $8,740 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $743 |
| Fees for services: Accounting | $22,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $174,371 |
| Advertising and promotion | $18,767 |
| Office expenses | $14,138 |
| Information technology | $20,153 |
| Royalties | $0 |
| Occupancy | $10,268 |
| Travel | $3,680 |
| 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 | $841 |
| All other expenses | $602 |
| Total functional expenses | $411,180 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $105,911 |
| Savings and temporary cash investments | $1,415 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $183,167 |
| 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 | $517 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $291,010 |
| Accounts payable and accrued expenses | $10,004 |
| 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 | $10,004 |
| Net assets without donor restrictions | $264,316 |
| Net assets with donor restrictions | $16,690 |
| 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 | $291,010 |
Grants Awarded
Over the last fiscal year, Sherman Phoenix Foundation Inc has awarded $7,310 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
VALENCIA LYNN BEAUTY BAR PURPOSE: ENTREPRENEURSHIP AND SMALL BUSINESS SUCCESS | $2,000 |
CLOUD 9 MASSAGE THERAPY PURPOSE: ENTREPRENEURSHIP AND SMALL BUSINESS SUCCESS | $2,000 |
WHO'S COOKING PURPOSE: ENTREPRENEURSHIP AND SMALL BUSINESS SUCCESS | $3,310 |