Power Cross FY2023 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.
100¢ of each $1 spent went to programs.
$270K 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

FY2023 · 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
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
$270K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 8.8 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
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.6M
-14% vs prior year
Spent
$2.3M
To programs
100%
Net assets
$3.3M
By yearFY2020–FY2024
Revenue
$2.6M
FY2023▼ -14%
Revenue by fiscal year
FY2020$1.6M
FY2021$1.8M
FY2022$3.0M
FY2023$2.6M
FY2024$4.4M
FY2024$4.4M
Expenses
$2.3M
FY2023+0.2%
Expenses by fiscal year
FY2020$1.5M
FY2021$1.4M
FY2022$2.3M
FY2023$2.3M
FY2024$3.4M
FY2024$3.5M
Net assets
$3.3M
FY2023▲ +11%
Net assets by fiscal year
FY2020$611K
FY2021$903K
FY2022$3.0M
FY2023$3.3M
FY2024$2.9M
FY2024$4.7M

From the FY2023 Form 990 (year ending August 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

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

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.

Who runs it and what they're paid

10 people listed on the 990; $270K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Co-Founder
$74,651Pt VII · Sec A
$74,651Pt VII · Sec A
Daily Operations Director
$60,918Pt VII · Sec A
Statesville Director
$46,619Pt VII · Sec A
Salisbury Director
$13,558Pt VII · Sec A
Board of Directors
$0Pt VII · Sec A
Board of Directors
$0Pt VII · Sec A
$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

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 $348K of program spending, described in the organization's own filed words · FY2022.
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.

$208Kprogram 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 2022-2023

$82Kprogram 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.

$58Kprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$2.6M
Ln 12
Gifts and grantsLn 1h$2.6M
Money outPt IX
$2.3M
Ln 25
Programscol B$2.3M
Owns and owesPt X
$3.3M
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$3.3M
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A5
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.6M
Government grantsLn 1e$0
Noncash giftsLn 1g$15K
Fundraising eventsLn 1c$0
Total revenueLn 12$2.6M
Assets in detailPt X, end of year
CashLn 1$130K
SavingsLn 2$1.5M
Cash and savings togetherLn 1–2$1.7M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$1.7M
Other assetsLn 15$0
Total assetsLn 16$3.3M
LiabilitiesLn 26$0
Net assetsLn 32$3.3M
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 FY23End FY23
Cash and savingsLn 1–2$1.4M$1.7M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$1.7M$1.7M
Total assetsLn 16$3.1M$3.3M
LiabilitiesLn 26$89K$0
Net assetsLn 32$3.0M$3.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$270K$270K
Other salaries and wagesLn 7$655K$655K
Pension plan contributionsLn 8$0$0
Other employee benefitsLn 9$0$0
Payroll taxesLn 10$153K$153K
Legal feesLn 11b$22K$22K
Accounting feesLn 11c$19K$19K
Lobbying feesLn 11d$0$0
Investment management feesLn 11f$0$0
Other fees for servicesLn 11g$230K$230K
Advertising and promotionLn 12$105K$105K
Office expensesLn 13$51K$51K
Information technologyLn 14$35K$35K
RoyaltiesLn 15$0$0
OccupancyLn 16$90K$90K
TravelLn 17$25K$25K
Travel and entertainment for public officialsLn 18$0$0
Conferences, conventions and meetingsLn 19$37K$37K
InterestLn 20$2K$2K
Payments to affiliatesLn 21$0$0
Depreciation, depletion and amortizationLn 22$93K$93K
InsuranceLn 23$60K$60K
Other expenses (24a–d)Ln 24$408K$408K$0$0
Total functional expensesLn 25$2.3M$2.3M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $4.4M$3.4M$1.0M$2.9M 990 PDF
FY2023 Viewing $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 $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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $2,585,114 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$2,585,114
VIII-1g Noncash contributions (included above)$15,380
VIII-1h Total contributions, gifts and grants$2,585,114
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$2,585,114
Part IX · Statement of functional expenses $2,254,890 across 23 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $270,397$270,397
IX-7 Other salaries and wagesPrograms $654,944$654,944
IX-8 Pension plan contributionsPrograms $0$0
IX-9 Other employee benefitsPrograms $0$0
IX-10 Payroll taxesPrograms $152,834$152,834
IX-11b Legal feesPrograms $21,943$21,943
IX-11c Accounting feesPrograms $18,510$18,510
IX-11d Lobbying feesPrograms $0$0
IX-11f Investment management feesPrograms $0$0
IX-11g Other fees for servicesPrograms $229,737$229,737
IX-12 Advertising and promotionPrograms $105,148$105,148
IX-13 Office expensesPrograms $51,365$51,365
IX-14 Information technologyPrograms $35,400$35,400
IX-15 RoyaltiesPrograms $0$0
IX-16 OccupancyPrograms $90,071$90,071
IX-17 TravelPrograms $24,556$24,556
IX-18 Travel and entertainment for public officialsPrograms $0$0
IX-19 Conferences, conventions and meetingsPrograms $37,080$37,080
IX-20 InterestPrograms $1,590$1,590
IX-21 Payments to affiliatesPrograms $0$0
IX-22 Depreciation, depletion and amortizationPrograms $93,425$93,425
IX-23 InsurancePrograms $59,580$59,580
IX-24 Other expenses (24a–d)Programs $408,310 · Management $0 · Fundraising $0$408,310
IX-25 Total functional expensesPrograms $2,254,890 · Management $0 · Fundraising $0$2,254,890
Part X · Balance sheet $3,311,174 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $591,415$130,328
X-2 Savings and temporary cash investmentsStart of year $762,901$1,528,757
X-10c Land, buildings and equipment, netStart of year $1,715,983$1,652,089
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $3,070,299$3,311,174
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 $89,349$0
X-32 Total net assets or fund balancesStart of year $2,980,950$3,311,174
X-33 Total liabilities and net assetsStart of year $3,070,299$3,311,174
Part XI · Reconciliation of net assets $3,311,174 net assets at year end
XI-1 Total revenue$2,585,114
XI-2 Total expenses$2,254,890
XI-3 Revenue less expenses$330,224
XI-4 Net assets at start of year$2,980,950
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$3,311,174

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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