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Pots Building for the Future INC

Tax-deductible

Bronx, NY501(c)(3)Education EIN 27-1383150Revenue $128K in FY2024

On file with the IRSpotsbronx.org2759 Webster Ave, 10458-3708 · Bronx, NYTax-exempt since Apr 2010Supporting organization — 509(a)(3)

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to raise funds and PROVIDE GRANTS AND LOANS TO SUPPORT THE WORK OF PART OF THE SOLUTION, INC., A RELATED 501(c)(3) organization.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
0 of 5
filings with a surplus
Average deficit $764K a year · 870% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$16K
4% of total assets
Looks good: liabilities are 4% 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
$128K
-48% vs prior year
Spent
$3.0M
To programs
99%
Net assets
$384K
By yearFY2020–FY2024
Revenue
$128K
FY2024▼ -48%
Tap a bar for its year
Revenue by fiscal year
FY2020$28K
FY2021$3K
FY2022$37K
FY2023$244K
FY2024$128K
Expenses
$3.0M
FY2024▲ +292%
Tap a bar for its year
Expenses by fiscal year
FY2020$58K
FY2021$46K
FY2022$444K
FY2023$754K
FY2024$3.0M
Net assets
$384K
FY2024▼ -88%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.3M
FY2021$4.3M
FY2022$3.8M
FY2023$3.3M
FY2024$384K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2010.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $2.9M Management & general 1% · $21K

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

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Sean Hoover
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Terry Feeney
Director
$0Pt VII · Sec A
Nick Finn
Director
$0Pt VII · Sec A
Barbara Raho
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Pots Building for the Future INC executive salaries →

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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 15aNo

Programs and updates

Fund and grant money to support a related nonprofit's work.

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Provided by the organization

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1 program · $2.9M · in their own filed words · FY2024
01

Supports part of the solution ("pots"), a 501(c)(3) not for profit corporation, by raising funds and providing grants and loans to support the work of pots. Pots is a 'one-stop shop' serving low-income families and individuals in the bronx.

$2.9Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$20K
Total grants receivedfrom 1 funder$20K
Grants paid · 5 grants · $4.2M · 2020–2024
Part of the Solution INCNY · FY2024$2,933,918
Part of the Solution INCNY · FY2023$736,278
Part of the Solution INCNY · FY2022$404,573
Part of the Solution INCNY · FY2021$42,075
Part of the Solution INCNY · FY2020$49,861

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$128K
Ln 12
Investment incomeLn 3$95K
Gifts and grantsLn 1h$32K
Money outPt IX
$3.0M
Ln 25
Programscol B$2.9M
Managementcol C$21K
Owns and owesPt X
$384K
net assets · Ln 32
Cash and savingsLn 1–2$335K
Total assetsLn 16$400K
LiabilitiesLn 26$16K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$32K
Investment incomeLn 3$95K
Gains on assetsLn 7$45K
Total revenueLn 12$128K
Assets in detailPt X, end of year
CashLn 1$33K
SavingsLn 2$302K
Cash and savings togetherLn 1–2$335K
InvestmentsLn 11–13$0
Other assetsLn 15$0
Total assetsLn 16$400K
LiabilitiesLn 26$16K
Net assetsLn 32$384K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$2.1M$335K
InvestmentsLn 11–13$821K$0
Total assetsLn 16$3.4M$400K
LiabilitiesLn 26$91K$16K
Net assetsLn 32$3.3M$384K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.9M$2.9M
Accounting feesLn 11c$18K$18K
Office expensesLn 13$3K$3K
Total functional expensesLn 25$3.0M$2.9M$21K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $128K$3.0M−$2.8M$384K 990 PDF
FY2023 $244K$754K−$510K$3.3M 990 PDF
FY2022 $37K$444K−$407K$3.8M 990 PDF
FY2021 $3K$46K−$43K$4.3M 990 PDF
FY2020 $28K$58K−$31K$4.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $127,704 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $132,530$32,249
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $111,238$95,455
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $243,768$127,704
I-13 Grants and similar amounts paidPrior year $736,278$2,933,918
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $17,589$21,137
I-18 Total expensesPrior year $753,867$2,955,055
I-19 Revenue less expensesPrior year −$510,099−$2,827,351
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $127,704 across 5 lines filed
VIII-1f All other contributions, gifts and grants$32,249
VIII-1h Total contributions, gifts and grants$32,249
VIII-3 Investment incomeExcluded from tax $50,368$50,368
VIII-7 Net gain or loss on sales of assetsExcluded from tax $45,087$45,087
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $95,455$127,704
Part IX · Statement of functional expenses $2,955,055 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $2,933,918$2,933,918
IX-11c Accounting feesManagement $18,500$18,500
IX-13 Office expensesManagement $2,637$2,637
IX-25 Total functional expensesPrograms $2,933,918 · Management $21,137 · Fundraising $0$2,955,055
Part X · Balance sheet $400,096 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $47,573$33,357
X-2 Savings and temporary cash investmentsStart of year $2,092,657$301,667
X-3 Pledges and grants receivableStart of year $178,481$65,072
X-11 Publicly traded securitiesStart of year $821,407$0
X-15 Other assetsStart of year $231,455$0
X-16 Total assetsStart of year $3,371,573$400,096
X-17 Accounts payable and accrued expensesStart of year $90,926$4,516
X-25 Other liabilitiesStart of year $0$11,500
X-26 Total liabilitiesStart of year $90,926$16,016
X-27 Net assets without donor restrictionsStart of year $1,156,453−$131,002
X-28 Net assets with donor restrictionsStart of year $2,124,194$515,082
X-32 Total net assets or fund balancesStart of year $3,280,647$384,080
X-33 Total liabilities and net assetsStart of year $3,371,573$400,096
Part XI · Reconciliation of net assets $384,080 net assets at year end
XI-1 Total revenue$127,704
XI-2 Total expenses$2,955,055
XI-3 Revenue less expenses−$2,827,351
XI-4 Net assets at start of year$3,280,647
XI-5 Net unrealized gains (losses) on investments−$24,987
XI-9 Other changes in net assets−$44,229
XI-10 Net assets at end of year$384,080

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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