Power Cross FY2020 filing

Tax-deductible

Statesville, NC501(c)(3)Since 2010ReligionEIN 14-1989435

To spread the life changing word of Christ into our community utilizing a variety of resources to have a far reach and broad impact.

501(c)(3) charity; gifts are tax-deductible.
37¢ of each $1 spent went to programs.
$219K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $518K a year · 19% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
37%
of spending
Concern: 37% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$219K
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
12
named funders · $1.0M
Looks good: 12 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$162K
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 9 voting members
Looks good: 7 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
Spent
$1.5M
To programs
37%
Net assets
$611K
By yearFY2020–FY2024
Revenue
$1.6M
FY2020
Revenue by fiscal year
FY2020$1.6M
FY2021$1.8M
FY2022$3.0M
FY2023$2.6M
FY2024$4.4M
FY2024$4.4M
Expenses
$1.5M
FY2020
Expenses by fiscal year
FY2020$1.5M
FY2021$1.4M
FY2022$2.3M
FY2023$2.3M
FY2024$3.4M
FY2024$3.5M
Net assets
$611K
FY2020
Net assets by fiscal year
FY2020$611K
FY2021$903K
FY2022$3.0M
FY2023$3.3M
FY2024$2.9M
FY2024$4.7M

From the FY2020 Form 990 (year ending August 2020) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2008.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

37 cents of each dollar spent went to programs.

Program services 37% · $549K Management & general 62% · $931K Fundraising 1% · $15K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

8 people listed on the 990; $219K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Daily Operations Director
$38,412Pt VII · Sec A
Co-Founder
$31,250Pt VII · Sec A
$31,250Pt VII · Sec A
Shegog
$30,154Pt VII · Sec A
Assistant Director
$27,425Pt VII · Sec A
Salisbury Site Director
$24,670Pt VII · Sec A
Ward
$24,133Pt VII · Sec A
Statesville Campus Academic Director
$11,237Pt VII · Sec A

Jeff Storment’s $114K as Co-Founder is at the 60th percentile of top reported officer pay among 1636 $1–10M religion nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Jeff Storment$114,137$82,000$74,651$54,418$45,000$31,250
Natalie Storment$114,137$82,000$74,651$54,418$45,000$31,250
Lorie Fees$82,000—————
William Sherard$61,000—————
Cory Knight—$59,149$60,918———
Matthew Murdock——$46,619———
Matt Murdock———$41,434$45,000$38,412
Khalil Miller———$35,668$45,000$27,425

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Shares Christ's message through sports, education, life skills, and meals.

Provided by the organization

This section is blank until Power Cross claims this page.

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3 program services account for $90K of program spending, described in the organization's own filed words · FY2019.
01

Power Cross provides free hot meals daily to young men in our community who primarily live in food insecure homes. We serve approximately 85,000 free meals in 2019-2020.

$49Kprogram expense
02

Athletic Training and Development- We provide athletic teams and training for young men in baseball, basketball, wrestling, and football. Providing training, equipment, assistance with recruiting and free camps and clinics year round.

$31Kprogram expense
03

POC Rally Event

$10Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 12 funders →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$1.6M
Money outPt IX
$1.5M
Ln 25
Programscol B$549K
Managementcol C$931K
Fundraisingcol D$15K
Owns and owesPt X
$611K
net assets · Ln 32
Cash and savingsLn 1–2$415K
Total assetsLn 16$773K
LiabilitiesLn 26$162K
PeoplePt VI, VII
8
listed · VII A
PaidVII A8
Voting boardVI 1a9
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Government grantsLn 1e$0
Noncash giftsLn 1g$35K
Fundraising eventsLn 1c$0
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$415K
Cash and savings togetherLn 1–2$415K
Land, buildings, equipmentLn 10c$358K
Total assetsLn 16$773K
LiabilitiesLn 26$162K
Net assetsLn 32$611K
OperationsPt I, VI
EmployeesI 525
VolunteersI 625
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$218K$415K
Land, buildings, equipmentLn 10c$312K$358K
Total assetsLn 16$531K$773K
LiabilitiesLn 26$0$162K
Net assetsLn 32$531K$611K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$220K$0$220K$0
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$294K$0$294K$0
Pension plan contributionsLn 8$0$0$0$0
Other employee benefitsLn 9$0$0$0$0
Payroll taxesLn 10$56K$0$56K$0
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$9K$9K$0
Accounting feesLn 11c$15K$15K$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$14K$14K
Investment management feesLn 11f$0$0$0$0
Other fees for servicesLn 11g$4K$0$4K$0
Advertising and promotionLn 12$6K$0$6K$0
Office expensesLn 13$18K$0$18K$0
Information technologyLn 14$20K$0$20K$0
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$43K$0$43K$0
TravelLn 17$4K$0$4K$0
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$2K$0$2K$0
InterestLn 20$6K$0$6K$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$0$0$0$0
InsuranceLn 23$44K$0$44K$0
Other expenses (24a–d)Ln 24$38K$0$38K$428
All other expensesLn 24e$700K$549K$152K$0
Total functional expensesLn 25$1.5M$549K$931K$15K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $4.4M$3.4M$1.0M$2.9M 990 PDF
FY2023 $2.6M$2.3M$330K$3.3M 990 PDF
FY2022 $3.0M$2.3M$741K$3.0M 990 PDF
FY2021 $1.8M$1.4M$396K$903K 990 PDF
FY2020 Viewing $1.6M$1.5M$81K$611K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (4 parts)
Part VIII · Statement of revenue $1,575,016 across 9 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$1,575,016
VIII-1g Noncash contributions (included above)$34,705
VIII-1h Total contributions, gifts and grants$1,575,016
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$1,575,016
Part IX · Statement of functional expenses $1,494,502 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $220,440 · Fundraising $0$220,440
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $0 · Management $294,234 · Fundraising $0$294,234
IX-8 Pension plan contributionsPrograms $0 · Management $0 · Fundraising $0$0
IX-9 Other employee benefitsPrograms $0 · Management $0 · Fundraising $0$0
IX-10 Payroll taxesPrograms $0 · Management $55,595 · Fundraising $0$55,595
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesManagement $9,287 · Fundraising $0$9,287
IX-11c Accounting feesManagement $14,554 · Fundraising $0$14,554
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $14,194$14,194
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $0 · Management $3,947 · Fundraising $0$3,947
IX-12 Advertising and promotionPrograms $0 · Management $5,608 · Fundraising $0$5,608
IX-13 Office expensesPrograms $0 · Management $18,374 · Fundraising $0$18,374
IX-14 Information technologyPrograms $0 · Management $19,691 · Fundraising $0$19,691
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $0 · Management $43,162 · Fundraising $0$43,162
IX-17 TravelPrograms $0 · Management $4,327 · Fundraising $0$4,327
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $2,452 · Fundraising $0$2,452
IX-20 InterestPrograms $0 · Management $6,362 · Fundraising $0$6,362
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $0 · Fundraising $0$0
IX-23 InsurancePrograms $0 · Management $43,856 · Fundraising $0$43,856
IX-24 Other expenses (24a–d)Programs $0 · Management $37,683 · Fundraising $428$38,111
IX-24e All other expensesPrograms $548,616 · Management $151,692 · Fundraising $0$700,308
IX-25 Total functional expensesPrograms $548,616 · Management $931,264 · Fundraising $14,622$1,494,502
Part X · Balance sheet $772,677 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $218,155$414,697
X-10c Land, buildings and equipment, netStart of year $312,490$357,980
X-16 Total assetsStart of year $530,645$772,677
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $0$161,518
X-32 Total net assets or fund balancesStart of year $530,645$611,159
X-33 Total liabilities and net assetsStart of year $530,645$772,677
Part XI · Reconciliation of net assets $611,159 net assets at year end
XI-1 Total revenue$1,575,016
XI-2 Total expenses$1,494,502
XI-3 Revenue less expenses$80,514
XI-4 Net assets at start of year$530,645
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$611,159

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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