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Sb7 Support Foundation INC FY2023 filing

Tax-deductible

Brooklyn, MD501(c)(3)Foundations & GrantmakersEIN 84-4509016Revenue $625K in FY2023

On file with the IRS205 E Patapsco Ave, 21225-1826 · Brooklyn, MDTax-exempt since Dec 2021Supporting org, Type I — 509(a)(3)

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Sb7 Support Foundation, INC. (the ''foundation''), a maryland non-profit corporation, is formed as a type I supporting organization under section 509(a)(3) of the internal revenue code. The Foundation is a supporting organization to Sb7 coalition, INC., a 501(c)(3) public charity (''sb7''), that controls the Foundation. The Foundation is organized and shall be operated exclusively for charitable, educational, scientific and literary purposes within the meaning of section 501(c)(3) of the internal revenue code (the ''code'').the Foundation will operate to raise and steward foundations for programs and charities supported by Sb7 coalition, INC. ("Sb7"), including raising and investing an endowment for the benefit of Sb7 and those charities Sb7 supports. The foundation's board of directors, officers and staff (all currently shared with Sb7) will direct the foundation's activities and operations.

501(c)(3) charity; gifts are tax-deductible.
97¢ 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
0 of 3
filings with a surplus
Average deficit $516K a year · 88% of revenue · last 3 filings
Concern: a surplus in 0 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$625K
+481% vs prior year
Spent
$883K
To programs
97%
Net assets
$8.0M
By yearFY2021–FY2024
Revenue
$625K
FY2023▲ +481%
Tap a bar for its year
Revenue by fiscal year
FY2021Not on file
FY2022$108K
FY2023$625K
FY2024$1.0M
Expenses
$883K
FY2023▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022$866K
FY2023$883K
FY2024$1.5M
Net assets
$8.0M
FY2023▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2021Not on file
FY2022$8.2M
FY2023$8.0M
FY2024$7.5M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

Form 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 Dec 2021.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $858K Management & general 3% · $25K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
Greg Sawtell
President
$0Pt VII · Sec A
Angela Smothers
Vice President
$0Pt VII · Sec A
Cleoda Walker
Secretary
$0Pt VII · Sec A
Rob Boidock
Treasurer
$0Pt VII · Sec A
See Sb7 Support Foundation 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

Raises and stewards funds for programs and charities supported by SB7 Coalition.

Questions for Sb7 Support Foundation INC

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Provided by the organization

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1 program · $858K · in their own filed words · FY2023
01

SB7 supports the charitable, educational, scientific, religious and literary programs and organizations in the port covington community of baltimore and the six (6) communities around port covington: brooklyn, cherry hill, curtis bay, lakeland, MT. Winans and westport.

$858Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $861K · 2022–2022
Sb7 Coalition INCMD · FY2022$860,585

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$625K
Ln 12
Investment incomeLn 3$625K
Money outPt IX
$883K
Ln 25
Programscol B$858K
Managementcol C$25K
Owns and owesPt X
$8.0M
net assets · Ln 32
Total assetsLn 16$8.0M
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$625K
Total revenueLn 12$625K
Assets in detailPt X, end of year
InvestmentsLn 11–13$8.0M
Total assetsLn 16$8.0M
LiabilitiesLn 26$0
Net assetsLn 32$8.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
InvestmentsLn 11–13$8.2M$8.0M
Total assetsLn 16$8.2M$8.0M
LiabilitiesLn 26$0$0
Net assetsLn 32$8.2M$8.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$858K$858K
Investment management feesLn 11f$25K$25K
Total functional expensesLn 25$883K$858K$25K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.0M$1.5M−$530K$7.5M 990 PDF
FY2023 Viewing $625K$883K−$258K$8.0M 990 PDF
FY2022 $108K$866K−$758K$8.2M 990 PDF
FY2021 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 $624,856 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,983,805$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $107,623$624,856
I-11 Other revenuePrior year $14,176$0
I-12 Total revenuePrior year $9,105,604$624,856
I-13 Grants and similar amounts paidPrior year $860,585$858,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $5,456$25,026
I-18 Total expensesPrior year $866,041$883,026
I-19 Revenue less expensesPrior year $8,239,563−$258,170
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $624,856 across 3 lines filed
VIII-3 Investment incomeRelated to mission $624,856$624,856
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $624,856$624,856
Part IX · Statement of functional expenses $883,026 across 2 lines filed
IX-1 Grants to domestic organizationsPrograms $858,000$858,000
IX-11f Investment management feesManagement $25,026$25,026
IX-25 Total functional expensesPrograms $858,000 · Management $25,026 · Fundraising $0$883,026
Part X · Balance sheet $7,981,392 assets, 6 lines filed
X-13 Program-related investmentsStart of year $8,239,563$7,981,392
X-16 Total assetsStart of year $8,239,563$7,981,392
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $8,239,563$7,981,392
X-32 Total net assets or fund balancesStart of year $8,239,563$7,981,392
X-33 Total liabilities and net assetsStart of year $8,239,563$7,981,392
Part XI · Reconciliation of net assets $7,981,392 net assets at year end
XI-1 Total revenue$624,856
XI-2 Total expenses$883,026
XI-3 Revenue less expenses−$258,170
XI-4 Net assets at start of year$8,239,563
XI-10 Net assets at end of year$7,981,392

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

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