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Phoenix Global Foundation INC

Tax-deductible

Gwynn Oak, MD501(c)(3)InternationalEIN 93-3749342

To provide access to quality healthcare services that improve the lives of people in the United States and in Africa through, innovation, collaboration, education, philanthropic support, and strategic grant allocation.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $465K a year · 99% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1668 mo
of spending, in cash
Looks good: 1668.5 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
0
of 2 voting members
Concern: none of 2 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$616K
+92% vs prior year
Spent
$7K
To programs
82%
Net assets
$929K
By yearFY2023–FY2024
Revenue
$616K
FY2024▲ +92%
Revenue by fiscal year
FY2023$321K
FY2024$616K
Expenses
$7K
FY2024▲ +558%
Expenses by fiscal year
FY2023$1K
FY2024$7K
Net assets
$929K
FY2024▲ +190%
Net assets by fiscal year
FY2023$320K
FY2024$929K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2024.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $5K Management & general 18% · $1K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Yinka Adepoju
Presidentdirector
$0Pt VII · Sec A
See Phoenix Global 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

Improves lives by providing quality healthcare access through innovation and support in the US and Africa.

Provided by the organization

This section is blank until Phoenix Global Foundation INC claims this page.

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1 program service account for $5K of program spending, described in the organization's own filed words · FY2024.
01

The empowerment of indigenes and organizations in U.S. and Nigeria through grants supporting essential needs, healthcare, medications, education, scholarships, and social justice- building stronger equitable communities.

$5Kprogram expense

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$616K
Ln 12
Gifts and grantsLn 1h$616K
Money outPt IX
$7K
Ln 25
Programscol B$5K
Managementcol C$1K
Owns and owesPt X
$929K
net assets · Ln 32
Cash and savingsLn 1–2$929K
Total assetsLn 16$929K
LiabilitiesLn 26$0
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$616K
Total revenueLn 12$616K
Assets in detailPt X, end of year
CashLn 1$679K
SavingsLn 2$250K
Cash and savings togetherLn 1–2$929K
Total assetsLn 16$929K
LiabilitiesLn 26$0
Net assetsLn 32$929K
OperationsPt I, VI
EmployeesI 50
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$321K$929K
Total assetsLn 16$321K$929K
LiabilitiesLn 26$1K$0
Net assetsLn 32$320K$929K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$4K$4K
Grants to domestic individualsLn 2$988$988
Accounting feesLn 11c$1K$1K
Office expensesLn 13$94$94
Total functional expensesLn 25$7K$5K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $616K$7K$609K$929K 990 PDF
FY2023 $321K$1K$320K$320K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $615,500 across 4 lines filed
VIII-1f All other contributions, gifts and grants$615,500
VIII-1h Total contributions, gifts and grants$615,500
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$615,500
Part IX · Statement of functional expenses $6,682 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $4,500$4,500
IX-2 Grants to domestic individualsPrograms $988$988
IX-11c Accounting feesManagement $1,100$1,100
IX-13 Office expensesManagement $94$94
IX-25 Total functional expensesPrograms $5,488 · Management $1,194 · Fundraising $0$6,682
Part X · Balance sheet $929,053 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $321,250$679,053
X-2 Savings and temporary cash investments$250,000
X-16 Total assetsStart of year $321,250$929,053
X-26 Total liabilitiesStart of year $1,015$0
X-32 Total net assets or fund balancesStart of year $320,235$929,053
X-33 Total liabilities and net assetsStart of year $321,250$929,053
Part XI · Reconciliation of net assets $929,053 net assets at year end
XI-1 Total revenue$615,500
XI-2 Total expenses$6,682
XI-3 Revenue less expenses$608,818
XI-4 Net assets at start of year$320,235
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$929,053

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

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