Civic Intelligence

Power Foundation Inc.

990 • Fiscal year 2020 • EIN 27-3284156

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 27, 2021

106 Assembly DrPiedmont, SC 29673

(864) 676-2171

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.12x

Higher debt load relative to assets than 53% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

52nd percentile

0.15x

Higher debt load relative to revenue than 52% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

86th percentile

39%

Higher net margin than 86% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

41st percentile

$24,790

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

16th percentile

-4.5%

Faster asset growth than 16% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

88th percentile

59%

Faster revenue growth than 88% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$2,390,195

Down $112,840 (-4.5%) from 2019

Net Assets

Up

$2,101,510

Up $756,422 (+56%) from 2019

Liabilities

Down

$288,685

Down $869,262 (-75%) from 2019

Revenue

Up

$1,926,173

Up $715,152 (+59%) from 2019

Expenses

Up

$1,169,751

Up $102,015 (+9.6%) from 2019

Net Income

Up

$756,422

Up $613,137 (+428%) from 2019

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2013: $564,071Liabilities 2013: $381,057Net Assets 2013: $183,0142013Assets 2014: $1,049,847Liabilities 2014: $520,961Net Assets 2014: $528,8862014Assets 2015: $2,120,439Liabilities 2015: $803,696Net Assets 2015: $1,316,7432015Assets 2016: $2,336,520Liabilities 2016: $1,122,394Net Assets 2016: $1,214,1262016Assets 2017: $2,213,400Liabilities 2017: $1,042,356Net Assets 2017: $1,171,0442017Assets 2018: $2,375,741Liabilities 2018: $1,206,400Net Assets 2018: $1,169,3412018Assets 2019: $2,503,035Liabilities 2019: $1,157,947Net Assets 2019: $1,345,0882019Assets 2020: $2,390,195Liabilities 2020: $288,685Net Assets 2020: $2,101,5102020Assets 2021: $2,773,175Liabilities 2021: $107,972Net Assets 2021: $2,665,2032021Assets 2022: $2,667,749Liabilities 2022: $4,677Net Assets 2022: $2,663,0722022Assets 2023: $2,581,863Liabilities 2023: $21,404Net Assets 2023: $2,560,4592023Assets 2024: $2,620,811Liabilities 2024: $26,604Net Assets 2024: $2,594,2072024

Highlighted filing

2020

Assets$2,390,195
Liabilities$288,685
Net Assets$2,101,510

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2013: $356,165Expenses 2013: $374,793Net Income 2013: -$18,6282013Revenue 2014: $785,445Expenses 2014: $439,570Net Income 2014: $345,8752014Revenue 2015: $1,521,181Expenses 2015: $732,667Net Income 2015: $788,5142015Revenue 2016: $854,434Expenses 2016: $957,051Net Income 2016: -$102,6172016Revenue 2017: $946,668Expenses 2017: $989,750Net Income 2017: -$43,0822017Revenue 2018: $1,028,130Expenses 2018: $1,029,833Net Income 2018: -$1,7032018Revenue 2019: $1,211,021Expenses 2019: $1,067,736Net Income 2019: $143,2852019Revenue 2020: $1,926,173Expenses 2020: $1,169,751Net Income 2020: $756,4222020Revenue 2021: $1,686,399Expenses 2021: $1,172,906Net Income 2021: $513,4932021Revenue 2022: $1,287,874Expenses 2022: $1,290,005Net Income 2022: -$2,1312022Revenue 2023: $1,176,097Expenses 2023: $1,278,710Net Income 2023: -$102,6132023Revenue 2024: $1,203,850Expenses 2024: $1,168,901Net Income 2024: $34,9492024

Highlighted filing

2020

Revenue$1,926,173
Expenses$1,169,751
Net Income$756,422
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 27, 2021
Return Version
2020v4.1
Gross Receipts
$2,013,883
Mission and Program Overview

Mission

Supporting the development and sustainment of Christian radio broadcasting. The organizaion has constructed a network of radio stations to broadcast Christian content under the name The Life FM.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$1,569,826$1,749,271▲ $179,445
Land, Buildings, and Equipment, Net$673,889$537,816▼ $136,073
Cash and Non-Interest-Bearing Accounts$16,551$59,418▲ $42,867
Accounts Receivable$39,667$27,062▼ $12,605
Savings and Temporary Cash Investments$200,000$13,526▼ $186,474
Total Assets$2,503,035$2,390,195▼ $112,840
Other Assets Total$3,102$3,102→ $0
Liabilities
Unsecured Notes Loans Payable$1,055,257$199,700▼ $855,557
Accounts Payable and Accrued Expenses$56,701$53,232▼ $3,469
Mortgage Notes Payable Secured by Investment Property$45,989$35,753▼ $10,236
Total Liabilities$1,157,947$288,685▼ $869,262
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,345,088$2,101,510▲ $756,422
Total Net Assets Fund Balance$1,345,088$2,101,510▲ $756,422
Total Liabilities and Net Assets / Fund Balance$2,503,035$2,390,195▼ $112,840

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$292,108$624,691$916,799
Buildings$203,292$61,181$264,473
Land$40,000-$40,000
Leasehold Improvements$2,416$1,229$3,645
Other Assets Org$3,102--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Elizabeth K McClureDirectorFT$24,790$24,790

Board Members and Trustees

NameTitle
John R McClure JrPresident
Christopher DavisDirector
Eric WoodDirector
Carolyn L RobinsonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,485,011
Program Service Revenue
$422,995
Investment Income
$12,467
Other Revenue
$5,700
All Other Contributions
$1,485,011
Change in Net Assets
$756,422
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$971,230
Salaries, Compensation, and Employee Benefits$170,931
Grants and Similar Amounts Paid$27,590
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$225,504--$225,504
Occupancy$204,441--$204,441
Fees for Services Other$181,371--$181,371
Other Salaries and Wages$133,917--$133,917
Depreciation Depletion$89,508--$89,508
Information Technology$84,768--$84,768
Advertising$63,283--$63,283
Royalties$45,339--$45,339
Grants to Domestic Orgs$27,590--$27,590
Current Officers, Directors, Trustees, and Key Employees$24,790--$24,790
Office Expenses$22,025--$22,025
Interest$16,610--$16,610
Fees for Services Legal$11,124$2,000-$13,124
Payroll Taxes$12,224--$12,224
Insurance$11,768--$11,768
Travel$7,086--$7,086
Fees for Services Accounting$5,100$1,000-$6,100
Conferences and Meetings$303--$303
Total Functional Expenses$1,166,751$3,000$0$1,169,751
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

John R. McClure, Jr. and Elizabeth K. McClure are married. John R. McClure, Jr. and Carolyn L. Robinson are siblings.

Form 990 governing body review Part VI line 11

The tax return is reviewed prior to submission.

CEO executive director top management comp Part VI line 15A

The Board determines officer compensation and benefits package annually.

Other officer or key employee compensation Part VI line 15B

The Board determines officer compensation and benefits package annually.

Governing documents etc available to public Part VI line 19

The income tax return is made available to the public.

Filing and Contact Details

Filer

Filer Name
The Power Foundation
EIN
27-3284156
Address
106 Assembly Dr, Piedmont, SC 29673

Signing Officer

Name
John R McClure JR
Title
President
Signed
2021-10-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John R McClure Jr
Formed
2010
Legal Domicile
Sc
Voting Board Members
5
Independent Board Members
3
Employees
7

Preparer

Firm
Cheryl L Borum CPA PA
Address
862 S Pleasantburg Dr Ste E, Greenville, SC 29607
Preparer
Cheryl L Borum
Phone
8642335070
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

Fees paid for network contract services = 80,461.

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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt022
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0151
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt024042
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
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IRS990ScheduleA/PublicSupportCY509Pct00.99600
IRS990ScheduleA/PublicSupportPY509Pct00.99880
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01908006
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01205319
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01028108
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0946517
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0854433
IRS990ScheduleA/Total509Grp/TotalAmt05942383
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01926173
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01211021
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01028130
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0946668
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0854433
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05966425
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0203292
IRS990ScheduleD/BuildingsGrp/DepreciationAmt061181
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0264473
IRS990ScheduleD/EquipmentGrp/BookValueAmt0292108
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0624691
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0916799
IRS990ScheduleD/LandGrp/BookValueAmt040000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt040000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt02416
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01229
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt03645
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03102
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0security deposits
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0537816
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03102
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0John R. McClure, Jr. and Elizabeth K. McClure are married. John R. McClure, Jr. and Carolyn L. Robinson are siblings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The tax return is reviewed prior to submission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board determines officer compensation and benefits package annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Board determines officer compensation and benefits package annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The income tax return is made available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Fees paid for network contract services = 80,461.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other fees for services expenses Part IX line 11g
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0SC
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt02390195
IRS990/TotalAssetsGrp/BOYAmt02503035
IRS990/TotalAssetsGrp/EOYAmt02390195
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01485011
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03000
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01166751
IRS990/TotalFunctionalExpensesGrp/TotalAmt01169751
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01157947
IRS990/TotalLiabilitiesEOYAmt0288685
IRS990/TotalLiabilitiesGrp/BOYAmt01157947
IRS990/TotalLiabilitiesGrp/EOYAmt0288685
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01345088
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02101510
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01166751
IRS990/TotalProgramServiceRevenueAmt0422995
IRS990/TotalReportableCompFromOrgAmt024790
IRS990/TotalRevenueGrp/ExclusionAmt018167
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0422995
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01926173
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02503035
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02390195
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt07086
IRS990/TravelGrp/TotalAmt07086
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt01055257
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0199700
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07 Woodsmoke Ct
IRS990/USAddress/CityNm0Greenville
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029607
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt03
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0John R McClure JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Power Foundation
ReturnHeader/Filer/BusinessNameControlTxt0POWE
ReturnHeader/Filer/EIN0273284156
ReturnHeader/Filer/USAddress/AddressLine1Txt0106 Assembly Dr
ReturnHeader/Filer/USAddress/CityNm0Piedmont
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd029673
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0571095870
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Cheryl L Borum CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0862 S Pleasantburg Dr Ste E
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Greenville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029607

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