Civic Intelligence

Power 52 Inc.

990 • Fiscal year 2022 • EIN 47-5176575

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 07, 2023

Organization ProfileWWW.POWER52.ORG
8775 Cloudleap CT Ste 11Columbia, MD 21045

(410) 777-9677

Siviq Scores

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

Liabilities / Assets

69th percentile

0.11x

Higher debt load relative to assets than 69% of similar nonprofits.

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

Liabilities / Revenue

63rd percentile

0.06x

Higher debt load relative to revenue than 63% of similar nonprofits.

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

Net Margin

25th percentile

-7.7%

Higher net margin than 25% 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

35th percentile

-3.4%

Faster asset growth than 35% of similar nonprofits.

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

Revenue Growth

52nd percentile

9.7%

Faster revenue growth than 52% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets69th percentile

Assets

Down

$331,231

Down $11,674 (-3.4%) from 2021

Net Assets

Down

$293,910

Down $44,817 (-13%) from 2021

Liabilities

Up

$37,321

Up $33,143 (+793%) from 2021

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin25th percentile

Revenue

Up

$578,391

Up $51,268 (+9.7%) from 2021

Expenses

Up

$623,208

Up $54,491 (+9.6%) from 2021

Net Income

Down

-$44,817

Down $3,223 (-7.7%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$600K$400K$200K$0Assets 2017: $34,411Liabilities 2017: $6,770Net Assets 2017: $27,6412017Assets 2018: $142,384Liabilities 2018: $12,768Net Assets 2018: $129,6162018Assets 2019: $116,676Liabilities 2019: $17,481Net Assets 2019: $99,1952019Assets 2020: $312,034Liabilities 2020: $80,642Net Assets 2020: $231,3922020Assets 2021: $342,905Liabilities 2021: $4,178Net Assets 2021: $338,7272021Assets 2022: $331,231Liabilities 2022: $37,321Net Assets 2022: $293,9102022Assets 2023: $128,914Liabilities 2023: $21,267Net Assets 2023: $107,6472023Assets 2024: $523,935Liabilities 2024: $70,545Net Assets 2024: $453,3902024

Highlighted filing

2022

Assets$331,231
Liabilities$37,321
Net Assets$293,910
Open 2022 Filing

Operations Trend

Revenue Growth52nd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2017: $182,825Expenses 2017: $214,671Net Income 2017: -$31,8462017Revenue 2018: $907,447Expenses 2018: $838,792Net Income 2018: $68,6552018Revenue 2019: $465,926Expenses 2019: $512,264Net Income 2019: -$46,3382019Revenue 2020: $651,208Expenses 2020: $519,011Net Income 2020: $132,1972020Revenue 2021: $527,123Expenses 2021: $568,717Net Income 2021: -$41,5942021Revenue 2022: $578,391Expenses 2022: $623,208Net Income 2022: -$44,8172022Revenue 2023: $539,653Expenses 2023: $518,291Net Income 2023: $21,3622023Revenue 2024: $1,026,257Expenses 2024: $682,204Net Income 2024: $344,0532024

Highlighted filing

2022

Revenue$578,391
Expenses$623,208
Net Income-$44,817
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 7, 2023
Return Version
2022v5.0
Gross Receipts
$578,391
Mission and Program Overview

Mission

Power52 provides employment training for at risk adults returning citizens and underserved individuals living in baltimore city and surrounding counties that prepares participants for careers in the solar industry as well as other green job opportunities

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$335,333$294,194▼ $41,139
Land, Buildings, and Equipment, Net$7,572$4,542▼ $3,030
Total Assets$342,905$331,231▼ $11,674
Other Assets Total-$32,495-
Liabilities
Other Liabilities$4,178$37,321▲ $33,143
Total Liabilities$4,178$37,321▲ $33,143
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$338,727$293,910▼ $44,817
Total Net Assets Fund Balance$338,727$293,910▼ $44,817
Total Liabilities and Net Assets / Fund Balance$342,905$331,231▼ $11,674

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,542$10,605$15,147
Other Assets Org$32,495--
Compensation and Service Providers
Top Officer Pay53rd percentile

Board Members and Trustees

NameTitle
Walter Barnes IiiChairman of Board
Cherie BrooksPresidentceo
Ray LewisAdvisory Board Member
Antawan AndersonBoard Member
Barbara EbelBoard Member
Eric KingBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$576,378
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$2,013
All Other Contributions
$57,084
Change in Net Assets
$-44,817
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$378,582
Other Expenses$244,626
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$234,566--$234,566
Other Salaries and Wages-$96,284-$96,284
Office Expenses$79,518$16,483-$96,001
Fees for Services Other$23,239$34,161-$57,400
Other Employee Benefits$28,081$18,284-$46,365
Occupancy$18,568$7,530-$26,098
Advertising$13,501--$13,501
Insurance$2,860$2,860-$5,720
Travel$5,433--$5,433
Depreciation Depletion$3,030--$3,030
Fees for Services Accounting$2,075--$2,075
Payroll Taxes-$1,367-$1,367
Other Expenses$1,214--$1,214
Total Functional Expenses$446,239$176,969$0$623,208
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala----
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$25,841
Payroll$7,147
Credit Card$4,333
Operating Lease Liability - Current-
Operating Lease Liability - Long-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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

Form 990 governing body review Part VI line 11

“The organization tax form 990 is reviewed by the executive director with explaination and questions with tax preparer. Upon completion, a review and discussion with the board is completed to ensure the board is in agreement.”

CEO executive director top management comp Part VI line 15A

“The organization reviews comparative salaries with other similar positions and size organization. Once review is complete, the analysis is given to the board of directors for review. A vote to determine salary for all staff including management is complete.”

Other officer or key employee compensation Part VI line 15B

“The organization reviews comparative salaries with other similar positions and size organization. Once review is complete, the analysis is given to the board of directors for review. A vote to determine salary for all staff including management is complete.”

Governing documents etc available to public Part VI line 19

“Upon request and evaluation by the executive officer and/or board of directors, copies of the form 990 will be forwarded to third parties.”

Filing and Contact Details

Filer

Filer Name
Power52 Inc
EIN
47-5176575
Address
8775 CLOUDLEAP CT STE 11, COLUMBIA, MD 21045
Doing Business As
Power52 Foundation

Signing Officer

Name
Cherie Brooks
Title
Presidentceo
Phone
4107779677
Signed
2023-11-07
Discuss with paid preparer
No

Organization Details

Principal Officer
Cherie Brooks
Formed
2015
Legal Domicile
Md
Voting Board Members
6
Independent Board Members
6
Employees
6

Preparer

Firm
Anderson & Company LLC
Address
10461 Mill Run Circle Ste 212, Owings Mills, MD 21117
Preparer
Antawan Anderson
Phone
4103639510
Supplemental Narrative

Additional Explanations

Amended return information

“Taxpreparer inadvertantly included state grant monies on the all other contributions gifts and grants line but should have been reported as a governmental grant. The monies was received from state of maryland earn grant. Part vii line 1f decreased by 298,119 and part vii line 1e increased 298,119.”

Significant program services not listed on prior year return Part III line 2

“Power52 provides solar production, trianing programs for individuals, community reinvestment, carbor offset and job creation for the community.”

Explanation of other changes in net assets or fund balances Part XI line 9

“Forgiveness of ppp loan. The loan was forgiven and shown on the books as other income but no reportable on form 990.”

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

“Total for form 1096/1099 is $20,761”

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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0493143
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0647541
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0465785
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0840352
IRS990ScheduleA/Total509Grp/TotalAmt03024972
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0465926
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0907447
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03130095
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IRS990ScheduleD/EquipmentGrp/BookValueAmt04542
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010605
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt015147
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt032495
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RIGHT OF USE ASSETS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04333
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt17147
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt225841
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CREDIT CARD
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2LINE OF CREDIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3OPERATING LEASE LIABILITY - CURRENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4OPERATING LEASE LIABILITY - LONG
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt032495
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TAXPREPARER INADVERTANTLY INCLUDED STATE GRANT MONIES ON THE ALL OTHER CONTRIBUTIONS GIFTS AND GRANTS LINE BUT SHOULD HAVE BEEN REPORTED AS A GOVERNMENTAL GRANT. THE MONIES WAS RECEIVED FROM STATE OF MARYLAND EARN GRANT. PART VII LINE 1F DECREASED BY 298,119 AND PART VII LINE 1E INCREASED 298,119.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION TAX FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR WITH EXPLAINATION AND QUESTIONS WITH TAX PREPARER. UPON COMPLETION, A REVIEW AND DISCUSSION WITH THE BOARD IS COMPLETED TO ENSURE THE BOARD IS IN AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION REVIEWS COMPARATIVE SALARIES WITH OTHER SIMILAR POSITIONS AND SIZE ORGANIZATION. ONCE REVIEW IS COMPLETE, THE ANALYSIS IS GIVEN TO THE BOARD OF DIRECTORS FOR REVIEW. A VOTE TO DETERMINE SALARY FOR ALL STAFF INCLUDING MANAGEMENT IS COMPLETE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION REVIEWS COMPARATIVE SALARIES WITH OTHER SIMILAR POSITIONS AND SIZE ORGANIZATION. ONCE REVIEW IS COMPLETE, THE ANALYSIS IS GIVEN TO THE BOARD OF DIRECTORS FOR REVIEW. A VOTE TO DETERMINE SALARY FOR ALL STAFF INCLUDING MANAGEMENT IS COMPLETE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST AND EVALUATION BY THE EXECUTIVE OFFICER AND/OR BOARD OF DIRECTORS, COPIES OF THE FORM 990 WILL BE FORWARDED TO THIRD PARTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5POWER52 PROVIDES SOLAR PRODUCTION, TRIANING PROGRAMS FOR INDIVIDUALS, COMMUNITY REINVESTMENT, CARBOR OFFSET AND JOB CREATION FOR THE COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FORGIVENESS OF PPP LOAN. THE LOAN WAS FORGIVEN AND SHOWN ON THE BOOKS AS OTHER INCOME BUT NO REPORTABLE ON FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7TOTAL FOR FORM 1096/1099 IS $20,761
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Amended return information
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/FormAndLineReferenceDesc5Significant program services not listed on prior year return Part III line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7List of other fees for services expenses Part IX line 11g
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0176969
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0446239
IRS990/TotalFunctionalExpensesGrp/TotalAmt0623208
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IRS990/TravelGrp/TotalAmt05433
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IRS990/UponRequestInd0X
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IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.POWER52.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL2
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0CHERIE BROOKS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENTCEO
ReturnHeader/BusinessOfficerGrp/PhoneNum04107779677
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0POWER52 INC
ReturnHeader/Filer/BusinessNameControlTxt0POWE
ReturnHeader/Filer/EIN0475176575
ReturnHeader/Filer/USAddress/AddressLine1Txt08775 CLOUDLEAP CT STE 11
ReturnHeader/Filer/USAddress/CityNm0COLUMBIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021045
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0270619109
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Anderson & Company LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010461 Mill Run Circle Ste 212
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Owings Mills
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021117
ReturnHeader/PreparerPersonGrp/PhoneNum04103639510
ReturnHeader/PreparerPersonGrp/PreparationDt02024-02-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Antawan Anderson
ReturnHeader/ReturnTs02024-02-22T21:40:19-05:00

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
$331,231
Liabilities
$37,321
Net assets
$293,910
Revenue
$578,391
Expenses
$623,208
Net income
-$44,817
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.52$0.07$0.45$1.03$0.68$0.34
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.13$0.02$0.11$0.54$0.52$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.33$0.04$0.29$0.58$0.62$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.34$0.53$0.57$0.04
2020Detailed filing. Detailed filing data is available for this year.$0.31$0.08$0.23$0.65$0.52$0.13
2019Detailed filing. Detailed filing data is available for this year.$0.12$0.02$0.10$0.47$0.51$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.14$0.01$0.13$0.91$0.84$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.03$0.01$0.03$0.18$0.21$0.03