Nsoro Foundation Inc
- Assets
- $1.3m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 5
- Location
- Atlanta, GA
- Founding
- 06/2007
- Data as of
- 12/2020
- EIN
- 87-0758361
Organization Overview
Nsoro Foundation Inc is located in Atlanta, GA. The organization was established in 2007. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2020, Nsoro Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nsoro 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, Nsoro Foundation Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.6% each year . All expenses for the organization totaled $1.5m during the year ending 12/2020. While expenses have increased by 10.6% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT EDUCATION/MENTORING FOR FOSTER CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SUPPORT TO CREATE EDUCATIONAL OPPORTUNITIES AND MENTORING SITUATIONS THAT WILL ENHANCE THE LIVES OF FOSTER CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darrell J Mays Chairman | OfficerTrustee | 5 | $0 |
Steve Smith Vice Chairma | OfficerTrustee | 5 | $0 |
D Jack Sawyer Board Member | Trustee | 5 | $0 |
Evelyn Ashley ESQ Board Member | Trustee | 5 | $0 |
Bill Voyles Board Member | Trustee | 5 | $0 |
Tony Conway Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $34,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,667,122 |
| Noncash contributions included in lines 1a–1f | $55,337 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,701,222 |
| Total Program Service Revenue | $0 |
| Investment income | $3,635 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $32,063 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,736,920 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $731,363 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $120,000 |
| Compensation of current officers, directors, key employees. | $6,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,117 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,350 |
| Payroll taxes | $14,734 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,411 |
| Fees for services: Other | $60,360 |
| Advertising and promotion | $10,110 |
| Office expenses | $9,943 |
| Information technology | $12,455 |
| Royalties | $0 |
| Occupancy | $27,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $662 |
| Interest | $2,061 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,371 |
| Insurance | $1,388 |
| All other expenses | $0 |
| Total functional expenses | $1,489,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500,978 |
| Savings and temporary cash investments | $208,672 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $590,700 |
| 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 | $1,250 |
| Net Land, buildings, and equipment | $589 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,302,189 |
| Accounts payable and accrued expenses | $56,659 |
| 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 | $149,900 |
| Other liabilities | $0 |
| Total liabilities | $206,559 |
| Net assets without donor restrictions | $1,095,630 |
| 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 | $1,302,189 |