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Pinky Cole Foundation FY2023 filing

Tax-deductible

Atlanta, GA501(c)(3)Youth DevelopmentEIN 83-4595973Revenue $195K in FY2023

On file with the IRS489 Edgewood Ave Se, 30312-1836 · Atlanta, GATax-exempt since May 2019Publicly supported charity — 170(b)(1)(A)(vi)

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Through educational programs, networking events, and thought leadership, the Pinky Cole Foundation is committed to empowering teens, college students, and younger adults to become fearless entrepreneurs.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
2 of 3
filings with a surplus
Average deficit $10K a year · 4% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
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 8 voting members
Looks good: 6 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$195K
-53% vs prior year
Spent
$171K
To programs
100%
Net assets
$113K
By yearFY2020–FY2024
Revenue
$195K
FY2023▼ -53%
Tap a bar for its year
Revenue by fiscal year
FY2020$60K
FY2021$138K
FY2022$417K
FY2023$195K
FY2024$96K
Expenses
$171K
FY2023▼ -56%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$387K
FY2023$171K
FY2024$180K
Net assets
$113K
FY2023▲ +27%
Tap a bar for its year
Net assets by fiscal year
FY2020$2K
FY2021$60K
FY2022$89K
FY2023$113K
FY2024$29K

From the FY2023 Form 990 · see the original

990 PDF Claim
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 May 2019.

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% · $171K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
Carol Davis
Board Member Governance Chai
$0Pt VII · Sec A
Richard Dunn
Board Member Ea Chair
$0Pt VII · Sec A
Stacey Lee
Chairman of the Board Member
$0Pt VII · Sec A
Sojourner Grimmett
Board Member
$0Pt VII · Sec A
Mia Ferguson
Board Member Youth Entrepren
$0Pt VII · Sec A
Monica Ponder
Board Member Grants Chair
$0Pt VII · Sec A
Christopher Cooper
Board Member
$0Pt VII · Sec A
Aisha Cole
Board Member
$0Pt VII · Sec A
See Pinky Cole Foundation 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 15aYes

Programs and updates

Empowers young adults to become fearless entrepreneurs through education and networking.

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Provided by the organization

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1 program · $171K · in their own filed words · FY2023
01

Through educational programs, networking events, and thought leadership, The Pinky Cole Foundation is committed to empowering teens, college students, and younger adults to become fearless entrepreneurs.

$171Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$195K
Ln 12
Gifts and grantsLn 1h$195K
Money outPt IX
$171K
Ln 25
Programscol B$171K
Owns and owesPt X
$113K
net assets · Ln 32
Cash and savingsLn 1–2$113K
Total assetsLn 16$113K
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$195K
Total revenueLn 12$195K
Assets in detailPt X, end of year
CashLn 1$93K
SavingsLn 2$20K
Cash and savings togetherLn 1–2$113K
Total assetsLn 16$113K
LiabilitiesLn 26$0
Net assetsLn 32$113K
OperationsPt I, VI
EmployeesI 50
VolunteersI 632
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 FY23End FY23
Cash and savingsLn 1–2$89K$113K
Total assetsLn 16$89K$113K
LiabilitiesLn 26$0$0
Net assetsLn 32$89K$113K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$91K$91K
Payroll taxesLn 10$27K$27K
Legal feesLn 11b$432$432
Accounting feesLn 11c$875$875
Other fees for servicesLn 11g$588$588
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$1K$1K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$3K$3K
Other expenses (24a–d)Ln 24$35K$35K
All other expensesLn 24e$6K$6K
Total functional expensesLn 25$171K$171K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $96K$180K−$84K$29K 990 PDF
FY2023 Viewing $195K$171K$24K$113K 990 PDF
FY2022 $417K$387K$30K$89K 990 PDF
FY2021 $138K$60K 990 PDF
FY2020 $60K$2K 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 (6 parts)
Part I · Summary $194,880 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $416,576$194,880
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $416,576$194,880
I-13 Grants and similar amounts paidPrior year $148,337$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $127,688$118,465
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $110,655$52,625
I-18 Total expensesPrior year $386,680$171,090
I-19 Revenue less expensesPrior year $29,896$23,790
Part VI · Governance 6 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members6
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $194,880 across 3 lines filed
VIII-1f All other contributions, gifts and grants$194,880
VIII-1h Total contributions, gifts and grants$194,880
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$194,880
Part IX · Statement of functional expenses $171,090 across 11 lines filed
IX-7 Other salaries and wagesPrograms $90,986$90,986
IX-10 Payroll taxesPrograms $27,479$27,479
IX-11b Legal feesPrograms $432$432
IX-11c Accounting feesPrograms $875$875
IX-11g Other fees for servicesPrograms $588$588
IX-12 Advertising and promotionPrograms $4,999$4,999
IX-13 Office expensesPrograms $1,359$1,359
IX-17 TravelPrograms $1,180$1,180
IX-19 Conferences, conventions and meetingsPrograms $2,541$2,541
IX-24 Other expenses (24a–d)Programs $34,975$34,975
IX-24e All other expensesPrograms $5,676$5,676
IX-25 Total functional expensesPrograms $171,090 · Management $0 · Fundraising $0$171,090
Part X · Balance sheet $113,273 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $89,483$93,273
X-2 Savings and temporary cash investments$20,000
X-16 Total assetsStart of year $89,483$113,273
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $89,483$113,273
X-32 Total net assets or fund balancesStart of year $89,483$113,273
X-33 Total liabilities and net assetsStart of year $89,483$113,273
Part XI · Reconciliation of net assets $113,273 net assets at year end
XI-1 Total revenue$194,880
XI-2 Total expenses$171,090
XI-3 Revenue less expenses$23,790
XI-4 Net assets at start of year$89,483
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$113,273

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

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