Civic Intelligence

Bravo Foundation Inc.

990 • Fiscal year 2022 • EIN 11-3645713

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 10, 2022

Organization Profilewww.thebravofoundation.org
20 Market Square 800Harrisburg, PA 17101

(717) 214-2200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

57th percentile

0.04x

Higher debt load relative to assets than 57% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

56th percentile

0.04x

Higher debt load relative to revenue than 56% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

86th percentile

42%

Higher net margin than 86% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$0

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

91st percentile

86%

Faster asset growth than 91% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

87th percentile

92%

Faster revenue growth than 87% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$910,635

Up $421,586 (+86%) from 2021

Net Assets

Up

$877,236

Up $390,492 (+80%) from 2021

Liabilities

Up

$33,399

Up $31,094 (+1349%) from 2021

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin86th percentile

Revenue

Up

$932,510

Up $446,861 (+92%) from 2021

Expenses

Down

$541,100

Down $435,561 (-45%) from 2021

Net Income

Up

$391,410

Up $882,422 (+180%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $1,849,558Liabilities 2011: $212,055Net Assets 2011: $1,637,5032011Assets 2012: $2,144,576Liabilities 2012: $249,468Net Assets 2012: $1,895,1082012Assets 2013: $1,928,393Liabilities 2013: $13,767Net Assets 2013: $1,914,6262013Assets 2014: $1,472,810Liabilities 2014: $11,833Net Assets 2014: $1,460,9772014Assets 2016: $1,250,450Liabilities 2016: $2,366Net Assets 2016: $1,248,0842016Assets 2017: $1,103,222Liabilities 2017: $12,715Net Assets 2017: $1,090,5072017Assets 2018: $883,223Liabilities 2018: $12,163Net Assets 2018: $871,0602018Assets 2019: $1,153,361Liabilities 2019: $12,100Net Assets 2019: $1,141,2612019Assets 2020: $996,779Liabilities 2020: $19,023Net Assets 2020: $977,7562020Assets 2021: $489,049Liabilities 2021: $2,305Net Assets 2021: $486,7442021Assets 2022: $910,635Liabilities 2022: $33,399Net Assets 2022: $877,2362022Assets 2023: $879,372Liabilities 2023: $22,641Net Assets 2023: $856,7312023Assets 2024: $468,597Liabilities 2024: $6,910Net Assets 2024: $461,6872024Assets 2025: $386,531Liabilities 2025: $2,078Net Assets 2025: $384,4532025

Highlighted filing

2022

Assets$910,635
Liabilities$33,399
Net Assets$877,236
Open 2022 Filing

Operations Trend

Revenue Growth87th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2011: $1,532,669Expenses 2011: $1,249,084Net Income 2011: $283,5852011Revenue 2012: $1,766,352Expenses 2012: $1,508,747Net Income 2012: $257,6052012Revenue 2013: $1,712,797Expenses 2013: $1,693,279Net Income 2013: $19,5182013Revenue 2014: $1,255,112Expenses 2014: $1,708,761Net Income 2014: -$453,6492014Revenue 2016: $1,163,763Expenses 2016: $1,314,799Net Income 2016: -$151,0362016Revenue 2017: $1,039,292Expenses 2017: $1,196,869Net Income 2017: -$157,5772017Revenue 2018: $938,316Expenses 2018: $1,157,763Net Income 2018: -$219,4472018Revenue 2019: $1,169,678Expenses 2019: $899,477Net Income 2019: $270,2012019Revenue 2020: $985,689Expenses 2020: $1,149,194Net Income 2020: -$163,5052020Revenue 2021: $485,649Expenses 2021: $976,661Net Income 2021: -$491,0122021Revenue 2022: $932,510Expenses 2022: $541,100Net Income 2022: $391,4102022Revenue 2023: $922,074Expenses 2023: $942,579Net Income 2023: -$20,5052023Revenue 2024: $541,436Expenses 2024: $936,480Net Income 2024: -$395,0442024Revenue 2025: $435,308Expenses 2025: $512,542Net Income 2025: -$77,2342025

Highlighted filing

2022

Revenue$932,510
Expenses$541,100
Net Income$391,410
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 10, 2022
Return Version
2021v4.1
Gross Receipts
$932,510
Mission and Program Overview

Mission

Bravo Foundation awards scholarships for the benefit of underprivileged children and their families in an effort to foster educational opportunities for students in the Commonwealth of Pennsylvania.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$486,969$879,288▲ $392,319
Prepaid Expenses and Deferred Charges$2,080$2,215▲ $135
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$489,049$910,635▲ $421,586
Other Assets Total-$29,132-
Liabilities
Other Liabilities-$30,243-
Accounts Payable and Accrued Expenses$2,305$3,156▲ $851
Total Liabilities$2,305$33,399▲ $31,094
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$466,345$676,837▲ $210,492
Net Assets With Donor Restrictions$20,399$200,399▲ $180,000
Total Net Assets Fund Balance$486,744$877,236▲ $390,492
Total Liabilities and Net Assets / Fund Balance$489,049$910,635▲ $421,586

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$83,682$83,682
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Dennis WalshPresident
Chris BravacosBoard Member
Bill SpinnerDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$931,332
Program Service Revenue
$0
Investment Income
$1,178
Other Revenue
$0
All Other Contributions
$931,332
Change in Net Assets
$391,410

Audited Revenue Reconciliation

Revenue per Audited Statements
$932,510
Total Revenue per Audited Statements
$932,510
Total Revenue per Form 990
$932,510
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$457,549
Other Expenses$83,551
Total Fundraising Expense$1,754
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$437,949--$437,949
Fees for Services Other$15,138$13,624$1,514$30,276
Fees for Services Accounting-$29,300-$29,300
Grants to Domestic Orgs$19,600--$19,600
Information Technology-$9,260-$9,260
Insurance-$1,188-$1,188
Office Expenses-$240$240$480
Other Expenses-$35-$35
Total Functional Expenses$472,687$66,659$1,754$541,100

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$541,100
Total Expenses per Audited Statements$541,100
Total Expenses per Form 990$541,100
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability - Current$18,834
Lease Liability - Noncurrent$11,409
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Director William Spinner is employed by Bravo Group, a Pennsylvania S-corporation 100% owned by Member, Chris Bravacos and President, Dennis Walsh.”

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Chris Bravacos is the sole member of Bravo Foundation.”

Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings

“Bravo Foundation does not have committees within the board of directors.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Certain board members review Form 990 with the paid preparer and approve prior to filing. All board members are provided with a copy of the finalized Form 990 prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Bravo Foundation's directors, officers, and key employees periodically discuss potential conflicts of interest between both new and existing contacts during regularly scheduled board meetings.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Bravo Foundation does not make its governing documents, conflict of interest policy, or financial statements directly available to the public. However, summarized financial information is available through the Pennsylvania Bureau of Charitable Organizations website and archives.”

Part VII, Section A, Column E

“Board members, directors, and officers of Bravo Foundation are also employees and shareholders of Bravo Group, Inc., EIN# 23-2988027, a related entity.Compensation from Bravo Group is not reported because the Volunteer Exception applies.”

Filing and Contact Details

Filer

Filer Name
Bravo Foundation Inc
EIN
11-3645713
Phone
7172142200
Address
20 Market Square 800, Harrisburg, PA 17101

Signing Officer

Name
Dennis Walsh
Title
President
Signed
2022-11-10
Discuss with paid preparer
Yes

Organization Details

Formed
2003
Legal Domicile
Pa
Voting Board Members
2
Independent Board Members
0
Employees
0
Volunteers
3

Preparer

Firm
Flowers & Flowers CPAs
Address
5775 Allentown Blvd Ste 201, Harrisburg, PA 17112
Preparer
Thomas H Flowers
Phone
7176526564
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IRS990ScheduleA/TotalSupportAmt04511842
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018834
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt111409
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Lease Liability - Current
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Lease Liability - Noncurrent
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IRS990ScheduleD/TotalExpensesPerForm990Amt0541100
IRS990ScheduleD/TotalLiabilityAmt030243
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0437949
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0PreK and K-12 Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0524
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Bravo Foundation maintains constant contact with all schools who receive scholarship funds to ensure individual recipients comply with the requirements of the program. If a student withdraws from a school that received an award, the scholarship funds are returned to Bravo Foundation on a pro-rata basis. Furthermore, verification of student award eligibility are reviewed on an annual basis, even if the individual has received scholarships from Bravo Foundation in prior years.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Director William Spinner is employed by Bravo Group, a Pennsylvania S-corporation 100% owned by Member, Chris Bravacos and President, Dennis Walsh.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Chris Bravacos is the sole member of Bravo Foundation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Bravo Foundation does not have committees within the board of directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Certain board members review Form 990 with the paid preparer and approve prior to filing. All board members are provided with a copy of the finalized Form 990 prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Bravo Foundation's directors, officers, and key employees periodically discuss potential conflicts of interest between both new and existing contacts during regularly scheduled board meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Bravo Foundation does not make its governing documents, conflict of interest policy, or financial statements directly available to the public. However, summarized financial information is available through the Pennsylvania Bureau of Charitable Organizations website and archives.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Board members, directors, and officers of Bravo Foundation are also employees and shareholders of Bravo Group, Inc., EIN# 23-2988027, a related entity.Compensation from Bravo Group is not reported because the Volunteer Exception applies.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Part VII, Section A, Column E
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0S corp
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt1Single Member LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd1PA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0Public Affairs
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1Real Estate
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0Bravo Group Inc
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1State Street Holdings LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt020 N Market Square Suite 800
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt120 N Market Square
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0Harrisburg
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm1Harrisburg
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0true
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt0489049
IRS990/TotalAssetsGrp/EOYAmt0910635
IRS990/TotalCompGreaterThan150KInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt066659
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IRS990/TotalProgramServiceExpensesAmt0472687
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IRS990/TotalRevenueGrp/ExclusionAmt01178
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0932510
IRS990/TotalVolunteersCnt03
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IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
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IRS990/USAddress/AddressLine1Txt020 Market Square 800

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$910,635
Liabilities
$33,399
Net assets
$877,236
Revenue
$932,510
Expenses
$541,100
Net income
$391,410
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.39$0.00$0.38$0.44$0.51$0.08
2024Detailed filing. Detailed filing data is available for this year.$0.47$0.01$0.46$0.54$0.94$0.40
2023Detailed filing. Detailed filing data is available for this year.$0.88$0.02$0.86$0.92$0.94$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.91$0.03$0.88$0.93$0.54$0.39
2021Detailed filing. Detailed filing data is available for this year.$0.49$0.00$0.49$0.49$0.98$0.49
2020Detailed filing. Detailed filing data is available for this year.$1.00$0.02$0.98$0.99$1.15$0.16
2019Detailed filing. Detailed filing data is available for this year.$1.15$0.01$1.14$1.17$0.90$0.27
2018Detailed filing. Detailed filing data is available for this year.$0.88$0.01$0.87$0.94$1.16$0.22
2017Detailed filing. Detailed filing data is available for this year.$1.10$0.01$1.09$1.04$1.20$0.16
2016Summary only. Only limited summary data is available for this year.$1.25$0.00$1.25$1.16$1.31$0.15
2014Detailed filing. Detailed filing data is available for this year.$1.47$0.01$1.46$1.26$1.71$0.45
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.93$0.01$1.91$1.71$1.69$0.02
2012Summary only. Only limited summary data is available for this year.$2.14$0.25$1.90$1.77$1.51$0.26
2011Summary only. Only limited summary data is available for this year.$1.85$0.21$1.64$1.53$1.25$0.28