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Psm Foundation

Tax-deductible

Clarksville, MD501(c)(3)International EIN 86-2089847Revenue $89K in FY2024

On file with the IRS12901 Wexford Park, 21029-1401 · Clarksville, MDTax-exempt since May 2022Publicly supported charity — 170(b)(1)(A)(vi)

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Started religious, educational and social activities

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 5 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
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
152 mo
of spending, in cash
Looks good: 152.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$524K
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
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
$89K
+1% vs prior year
Spent
$46K
To programs
100%
Net assets
$60K
By yearFY2022–FY2024
Revenue
$89K
FY2024▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2022$62K
FY2023$88K
FY2024$89K
Net assets
$60K
FY2024▲ +263%
Tap a bar for its year
Net assets by fiscal year
FY2022−$1K
FY2023$16K
FY2024$60K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2022.

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% · $46K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Psm 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 15aNo

Programs and updates

Starts religious, educational, and social activities.

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Provided by the organization

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1 program · $46K · in their own filed words · FY2024
01

Started religious, educational and social activities

$46Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$89K
Ln 12
Gifts and grantsLn 1h$72K
Investment incomeLn 3$17K
Money outPt IX
$46K
Ln 25
Programscol B$46K
Owns and owesPt X
$60K
net assets · Ln 32
Cash and savingsLn 1–2$584K
Total assetsLn 16$584K
LiabilitiesLn 26$524K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$72K
Investment incomeLn 3$17K
Total revenueLn 12$89K
Assets in detailPt X, end of year
CashLn 1$67K
SavingsLn 2$517K
Cash and savings togetherLn 1–2$584K
Total assetsLn 16$584K
LiabilitiesLn 26$524K
Net assetsLn 32$60K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
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 FY24End FY24
Cash and savingsLn 1–2$35K$584K
Total assetsLn 16$35K$584K
LiabilitiesLn 26$19K$524K
Net assetsLn 32$16K$60K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$36K$36K
Accounting feesLn 11c$298$298
Other expenses (24a–d)Ln 24$10K$10K
Total functional expensesLn 25$46K$46K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $89K$46K$43K$60K 990 PDF
FY2023 $88K$16K 990 PDF
FY2022 $62K−$1K 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 $89,170 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $88,000$72,500
I-9 Program service revenue$0
I-10 Investment income$16,670
I-11 Other revenuePrior year $1,003$0
I-12 Total revenuePrior year $89,003$89,170
I-13 Grants and similar amounts paidPrior year $70,587$36,136
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $16$9,798
I-18 Total expensesPrior year $70,603$45,934
I-19 Revenue less expensesPrior year $18,400$43,236
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $89,170 across 5 lines filed
VIII-1a Federated campaigns$72,500
VIII-1h Total contributions, gifts and grants$72,500
VIII-3 Investment incomeRelated to mission $16,670$16,670
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $16,670 · Unrelated business $0 · Excluded from tax $0$89,170
Part IX · Statement of functional expenses $45,934 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $36,136$36,136
IX-11c Accounting feesPrograms $298$298
IX-24 Other expenses (24a–d)Programs $9,500$9,500
IX-25 Total functional expensesPrograms $45,934 · Management $0 · Fundraising $0$45,934
Part X · Balance sheet $583,646 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $35,410$66,976
X-2 Savings and temporary cash investments$516,670
X-16 Total assetsStart of year $35,410$583,646
X-17 Accounts payable and accrued expensesStart of year $19,000$24,000
X-24 Unsecured notes and loans payable$500,000
X-26 Total liabilitiesStart of year $19,000$524,000
X-32 Total net assets or fund balancesStart of year $16,410$59,646
X-33 Total liabilities and net assetsStart of year $35,410$583,646
Part XI · Reconciliation of net assets $59,646 net assets at year end
XI-1 Total revenue$89,170
XI-2 Total expenses$45,934
XI-3 Revenue less expenses$43,236
XI-4 Net assets at start of year$16,410
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$59,646

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

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