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Pay IT Forward Foundation INC FY2020 filing

Pittsburgh, PAUnknown exempt organizationEIN 85-0602776Revenue $18.8M in FY2020

On file with the IRSva30dayfund.comPo Box 392891 · Pittsburgh, PA

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See part III, line 1.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average surplus $207K a year · 2% of revenue · last 4 filings
Worth a look: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 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
32 mo
of spending, in cash
Looks good: 32.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
11
named funders · $693K
Looks good: 11 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
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$18.8M
Spent
$5.1M
To programs
100%
Net assets
$13.7M
By yearFY2020–FY2023
Revenue
$18.8M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$18.8M
FY2021$29.7M
FY2022$446K
FY2023$668
Expenses
$5.1M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$5.1M
FY2021$31.1M
FY2022$9.4M
FY2023$2.5M
Net assets
$13.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$13.7M
FY2021$11.9M
FY2022$2.9M
FY2023$0

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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% · $5.1M Management & general 0% · $20K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
James Cheng
Chairman (from 5/2020)
$0Pt VII · Sec A
Pete Snyder
Chairman (until 5/2020)
$0Pt VII · Sec A
Generra Peck
Secretary (from 5/2020)
$0Pt VII · Sec A
$0Pt VII · Sec A
Leah Von Schaumburg
Secretary (until 5/2020)
$0Pt VII · Sec A
See Pay IT Forward 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

Provides disaster relief funds to Virginia small businesses impacted by the COVID-19 pandemic.

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Provided by the organization

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3 programs · $4.5M · in their own filed words · FY2020
01

Virginia

The organization assisted small businesses in virginia with disaster relief funds to help them survive the impacts of the COVID-19 pandemic.

$2.3Mprogram expense
02

The barstool fund, a registered dba of the organization, assisted small businesses across the nation with disaster relief funds to help them survive the impacts of the COVID-19 pandemic.

$1.3Mprogram expense
03

New Jersey

The organization assisted small businesses in new jersey with disaster relief funds to help them survive the impacts of the COVID-19 pandemic.

$905Kprogram 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 · FY2021
Vanguard Charitable Endowment ProgramFY2021$300K
The Ayco Charitable FoundationFY2021$107K
Kid Rock FoundationFY2021$100K
Gs Donor Advised Philanthropy Fund for Wealth Management INCFY2021$100K
Donor Advised Charitable Giving INCFY2021$25K
Natl Christian Charitable Fdn INCFY2021$15K
American Endowment FoundationFY2021$15K
Pledgeling FoundationFY2021$12K
Total grants receivedfrom 11 funders$693K
See all 11 funders →
Grants paid · 714 grants · $41.9M · 2020–2023
Penn National Gaming FoundationPA · FY2023$1,500,000
Small Business Relief Fund INCVA · FY2023$871,131
Youth Empowerment ProjectLA · FY2022$300,000
Big Apple MathFY2022$300,000
Louisiana Center for Children's RightsLA · FY2022$300,000
Congress Tap Room INC DBA Hotel CongressFY2022$200,000
Juvenile Law CenterPA · FY2022$200,000
305 Fitness INCFY2022$200,000
Remerge of Oklahoma County INCOK · FY2022$200,000
The BaseMA · FY2022$150,000
Education Law Center - PAPA · FY2022$150,000
Unlocking Futures INCNY · FY2022$150,000
K and C Executive ProtectionFY2022$100,000
National Association of Counsel for ChildrenCO · FY2022$100,000
Ubuntu Village NolaLA · FY2022$100,000
Fathership Foundation INCPA · FY2022$100,000
Best Buy Furniture the Best for Less INCFY2022$100,000
Mercy Neighborhood Ministries INCPA · FY2022$100,000
See all 714 grants →

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$18.8M
Ln 12
Gifts and grantsLn 1h$18.8M
Money outPt IX
$5.1M
Ln 25
Programscol B$5.1M
Managementcol C$20K
Owns and owesPt X
$13.7M
net assets · Ln 32
Cash and savingsLn 1–2$13.7M
Total assetsLn 16$13.7M
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$18.8M
Noncash giftsLn 1g$20K
Total revenueLn 12$18.8M
Assets in detailPt X, end of year
CashLn 1$13.7M
Cash and savings togetherLn 1–2$13.7M
Total assetsLn 16$13.7M
LiabilitiesLn 26$0
Net assetsLn 32$13.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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 FY20End FY20
Cash and savingsLn 1–2$13.7M
Total assetsLn 16$0$13.7M
LiabilitiesLn 26$0$0
Net assetsLn 32$0$13.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$4.8M$4.8M
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$21K$1K$20K
Other expenses (24a–d)Ln 24$308K$308K
Total functional expensesLn 25$5.1M$5.1M$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $668$2.5M−$2.5M$0 990 PDF
FY2022 $446K$9.4M−$9.0M$2.9M 990 PDF
FY2021 $29.7M$31.1M−$1.4M$11.9M 990 PDF
FY2020 Viewing $18.8M$5.1M$13.7M$13.7M 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 FY2020 990 (6 parts)
Part I · Summary $18,777,447 revenue, 12 lines filed
I-8 Contributions and grants$18,777,447
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$18,777,447
I-13 Grants and similar amounts paid$4,776,571
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$330,325
I-18 Total expenses$5,106,896
I-19 Revenue less expenses$13,670,551
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $18,777,447 across 5 lines filed
VIII-1a Federated campaigns$50,000
VIII-1f All other contributions, gifts and grants$18,727,447
VIII-1g Noncash contributions (included above)$19,715
VIII-1h Total contributions, gifts and grants$18,777,447
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$18,777,447
Part IX · Statement of functional expenses $5,106,896 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $4,776,571$4,776,571
IX-12 Advertising and promotionPrograms $1,551$1,551
IX-13 Office expensesPrograms $1,298 · Management $19,715$21,013
IX-24 Other expenses (24a–d)Programs $307,761$307,761
IX-25 Total functional expensesPrograms $5,087,181 · Management $19,715 · Fundraising $0$5,106,896
Part X · Balance sheet $13,670,551 assets, 6 lines filed
X-1 Cash, non-interest-bearing$13,670,551
X-16 Total assetsStart of year $0$13,670,551
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictions$13,670,551
X-32 Total net assets or fund balancesStart of year $0$13,670,551
X-33 Total liabilities and net assetsStart of year $0$13,670,551
Part XI · Reconciliation of net assets $13,670,551 net assets at year end
XI-1 Total revenue$18,777,447
XI-2 Total expenses$5,106,896
XI-3 Revenue less expenses$13,670,551
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$13,670,551

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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