The Foundation FY2023 filing

Palm Bay, FL · Public charity (501(c)(3))

✓ Tax-deductible Latest data FY2023
Revenue
$24K
▲ +118% vs prior year
Spent
$14K
To programs
73%
Net assets
$150K
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Form 990 for the fiscal year ending December 2023 (IRS tax year 2023).

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
Not on file
Spent on programs?
73% to programs
Form 990 Part IX, latest filing.
Size and trend
<$100K
↑ +118% vs prior year
Legal name (IRS)Hdr · item CThe Foundation
EINHdr · item D30-0346629
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFFeb 2021
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CPalm Bay, FL
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jthefoundation.world

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.27 Fundraising $0.00
Program services73%$10K
Management & general27%$4K
Fundraising$61
Total functional expensesLn 25$14K

Financial health

Revenue & expenses by yearFY2020–FY2024
Revenue
$24K
FY2023▲ +118%
Expenses
$14K
FY2023▼ -58%
Program efficiency
73%
of spending reaches programs
Operating runway
104.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
+41%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$406K
FY2023▼ -11%
Total liabilities
$257K
FY2023▼ -1%
Revenue less expensesPt I · Ln 19$10K
Total assetsPt X · Ln 16$406K
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 31
Independent voting membersPt I · Ln 4pending

Balance Sheet

Part X · end of year
CashLn 1$114K
Total assetsLn 16$406K
Total liabilitiesLn 26$257K
Total net assetsLn 32$150K
Months of cash on handcomputed95.9

Statement of Revenue

Part VIII
Contributions & grants$14K · 58%
Investment income$6K · 23%
Program service revenue$5K · 20%
Contributions & grants58%$14K
Investment income23%$6K
Program service revenue20%$5K
Total revenueLn 12$24K

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $124K · Operating expenses/yr $14K
104.3 months
Where the money goes
Program services
Program services $10K · Total expenses $14K
73%
Management & General
Management & general $4K · Total expenses $14K
27%
Fundraising
Fundraising $61 · Total expenses $14K
0.4%
Cost to raise $1
Fundraising expense (3-yr avg) $47 · Solicited contributions (3-yr avg) $17K
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $14K · Total revenue $24K
58%
Government reliance
Government grants $0 · Total revenue $24K
0%
Earned-income share
Program service revenue $5K · Total revenue $24K
20%
Investment reliance
Investment income $6K · Total revenue $24K
+23%
Program self-sufficiency
Program service revenue $5K · Total expenses $14K
34%
Growth & trend
Revenue growth (YoY)
This year $24K · Prior year $-133K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $150K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $24K · Expenses $14K
+41%
Liabilities-to-Assets
Total liabilities — · Total assets $406K
—
Net-asset ratio
Net assets $150K · Total assets $406K
37%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $10K · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $406K
2%
People & payroll
Highest Reported Total Compensation
Individual Nate Carr · Reported title Founder · Highest reported compensation $0 · Total expenses $14K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $14K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 73%——
Overhead ratio 27%——
Fundraising cost ratio 0.4%——
Revenue growth 118%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 0.3%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Founder
$0Pt VII · Sec A
See The Foundation executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a1
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Establishing operations in East Africa to support future programs.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $10K of program spending, described in the organization's own filed words · FY2023.
01

Community Safety

THE FOUNDATION renewed the contracts of 3 local security professionals to perform nightly patrols around the neighborhood of Ngunguti in Mkuranga, Tanzania. Their wages were above market rates to enable them to achieve a greater level of financial security.

$7Kprogram expense
02

Empowering Self-Sufficiency

THE FOUNDATION hired the services of Mr. Shempemba, the head of security, to liquidate the remaining items left in Tanzania (stove, TV, blender, refrigerator, and table & chairs made by a local craftsman). He was given a 50% commission for motivation and economic empowerment.

$2Kprogram expense
03

Empowering Self-Sufficiency

The Endowment: This FOUNDATION Solution is a quasi-endowment established by the Founder; it is a self-sufficient fund(s) that exists as a learning platform for the disadvantaged to empower their financial self-sufficiency. The Endowment may take years (even decades) to properly establish itself.

$1Kprogram expense

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Filing history

YearRevenueExpensesChangeFiling
FY2024 Latest $23K$7K-7% 990 PDF
FY2023 Viewing $24K$14K+118% 990 PDF
FY2022 $-133K$34K-490% 990 PDF
FY2021 $34K$30K-91% 990 PDF
FY2020 $378K$747 990 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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