Power Cross FY2022 filing

Tax-deductible

Statesville, NC501(c)(3)Since 2010ReligionEIN 14-1989435Revenue $3.0M in FY2022

On file with the IRSpowercross.org1133 W Front St, 28677-5050 · Statesville, NCTax-exempt since Jun 2008Publicly supported charity — 170(b)(1)(A)(vi)

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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.
100¢ of each $1 spent went to programs.
$186K 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

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $594K a year · 20% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$186K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.2 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
$89K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 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
$3.0M
+69% vs prior year
Spent
$2.3M
To programs
100%
Net assets
$3.0M
By yearFY2020–FY2025
Revenue
$3.0M
FY2022▲ +69%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.6M
FY2021$1.8M
FY2022$3.0M
FY2023$2.6M
FY2024$4.4M
FY2025$4.4M
Expenses
$2.3M
FY2022▲ +64%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$1.4M
FY2022$2.3M
FY2023$2.3M
FY2024$3.4M
FY2025$3.5M
Net assets
$3.0M
FY2022▲ +230%
Tap a bar for its year
Net assets by fiscal year
FY2020$611K
FY2021$903K
FY2022$3.0M
FY2023$3.3M
FY2024$2.9M
FY2025$4.7M

From the FY2022 Form 990 (year ending August 2022) · 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: FY2025. IRS ruling in Jun 2008.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $2.3M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990; $186K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Co-Founder
$54,418Pt VII · Sec A
$54,418Pt VII · Sec A
Daily Operations Director
$41,434Pt VII · Sec A
Assistant Director
$35,668Pt VII · Sec A
Shegog
$0Pt 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
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.

Questions for Power Cross

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Provided by the organization

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3 programs · $331K · in their own filed words · FY2021
01

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.

$182Kprogram expense
02

Power Cross provides free hot meals daily to young men in our community who primarily live in food insecure homes. We served approximately 81,000 free meals in 2020-2021.

$92Kprogram expense
03

Transportation- A key portion of the Power Cross program is providing transportation to our participants. The fleet managment of Power Cross provides thousands of miles of transportation annually.

$57Kprogram expense

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 FY2022 990, line by line.

1The main four
Money inPt VIII
$3.0M
Ln 12
Gifts and grantsLn 1h$3.0M
Other incomeLn 4–11$12K
Investment incomeLn 3$9K
Money outPt IX
$2.3M
Ln 25
Programscol B$2.3M
Owns and owesPt X
$3.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$3.1M
LiabilitiesLn 26$89K
PeoplePt VI, VII
5
listed · VII A
PaidVII A4
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.0M
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$9K
Other incomeLn 4–11$12K
Total revenueLn 12$3.0M
Assets in detailPt X, end of year
CashLn 1$591K
SavingsLn 2$763K
Cash and savings togetherLn 1–2$1.4M
Land, buildings, equipmentLn 10c$1.7M
Total assetsLn 16$3.1M
LiabilitiesLn 26$89K
Net assetsLn 32$3.0M
OperationsPt I, VI
EmployeesI 525
VolunteersI 625
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$903K$1.4M
Land, buildings, equipmentLn 10c$1.7M
Total assetsLn 16$903K$3.1M
LiabilitiesLn 26$0$89K
Net assetsLn 32$903K$3.0M
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$186K$186K
Other salaries and wagesLn 7$527K$527K
Payroll taxesLn 10$114K$114K
Management feesLn 11a$0
Accounting feesLn 11c$13K$13K
Advertising and promotionLn 12$89K$89K
Office expensesLn 13$96K$96K
Information technologyLn 14$17K$17K
RoyaltiesLn 15$0$0
OccupancyLn 16$58K$58K
TravelLn 17$10K$10K
Conferences, conventions and meetingsLn 19$4K$4K
InterestLn 20$874$874
Payments to affiliatesLn 21$0$0
Depreciation, depletion and amortizationLn 22$78K$78K
InsuranceLn 23$55K$55K
Other expenses (24a–d)Ln 24$1.0M$1.0M$0$0
All other expensesLn 24e$0$0
Total functional expensesLn 25$2.3M$2.3M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $4.4M$3.5M$972K$4.7M 990 PDF
FY2024 $4.4M$3.4M$1.0M$2.9M 990 PDF
FY2023 $2.6M$2.3M$330K$3.3M 990 PDF
FY2022 Viewing $3.0M$2.3M$741K$3.0M 990 PDF
FY2021 $1.8M$1.4M$396K$903K 990 PDF
FY2020 $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 FY2022 990 (6 parts)
Part I · Summary $2,992,363 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,745,653$2,970,903
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $26,580$9,161
I-11 Other revenuePrior year $0$12,299
I-12 Total revenuePrior year $1,772,233$2,992,363
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $648,143$826,253
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $727,809$1,425,207
I-18 Total expensesPrior year $1,375,952$2,251,460
I-19 Revenue less expensesPrior year $396,281$740,903
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,992,363 across 11 lines filed
Lines not itemized here account for $12,299 of total revenue; see the IRS return.
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$2,970,903
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$2,970,903
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $9,161 · Excluded from tax $0$9,161
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $21,460 · Excluded from tax $0$2,992,363
Part IX · Statement of functional expenses $2,251,460 across 22 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 $185,938$185,938
IX-7 Other salaries and wagesPrograms $526,684$526,684
IX-10 Payroll taxesPrograms $113,631$113,631
IX-11a Management fees$0
IX-11c Accounting feesPrograms $13,379$13,379
IX-12 Advertising and promotionPrograms $89,476$89,476
IX-13 Office expensesPrograms $95,930$95,930
IX-14 Information technologyPrograms $17,046$17,046
IX-15 RoyaltiesPrograms $0$0
IX-16 OccupancyPrograms $58,222$58,222
IX-17 TravelPrograms $9,896$9,896
IX-19 Conferences, conventions and meetingsPrograms $4,482$4,482
IX-20 InterestPrograms $874$874
IX-21 Payments to affiliatesPrograms $0$0
IX-22 Depreciation, depletion and amortizationPrograms $78,235$78,235
IX-23 InsurancePrograms $55,200$55,200
IX-24 Other expenses (24a–d)Programs $1,002,467 · Management $0 · Fundraising $0$1,002,467
IX-24e All other expensesPrograms $0$0
IX-25 Total functional expensesPrograms $2,251,460 · Management $0 · Fundraising $0$2,251,460
Part X · Balance sheet $3,070,299 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $749,897$591,415
X-2 Savings and temporary cash investmentsStart of year $153,355$762,901
X-10c Land, buildings and equipment, net$1,715,983
X-16 Total assetsStart of year $903,252$3,070,299
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$89,349
X-32 Total net assets or fund balancesStart of year $903,252$2,980,950
X-33 Total liabilities and net assetsStart of year $903,252$3,070,299
Part XI · Reconciliation of net assets $2,980,950 net assets at year end
XI-1 Total revenue$2,992,363
XI-2 Total expenses$2,251,460
XI-3 Revenue less expenses$740,903
XI-4 Net assets at start of year$903,252
XI-5 Net unrealized gains (losses) on investments$9,161
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$1,327,634
XI-10 Net assets at end of year$2,980,950

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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