THE FOUNTAIN FUND

Address
PO BOX 2301
CHARLOTTESVILLE, VA 22902
Contact
Website: http://www.fountainfund.org
Phone: +1 (434) 234-3600
Nonprofit
EIN: 81-3741447
Year formed: 2016

Mission

THE FOUNTAIN FUND'S MISSION IS TO IMPROVE THE LIVES OF THE FORMERLY INCARCERATED THROUGH LENDING, FINANCIAL EDUCATION, AND COMMUNITY SUPPORT.
 2017
Basic features of the organization
Year of formation2016
Subsection code03
PF filing required0
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Total compensation of current key personnel$55,000.00
Sum of reportable (W2/1099) compensation$55,000.00
Number of employees2
Number of people compensated >$100k0
Number of volunteers7
Number of highly compensated contractors0
Personnel
Chapman, Karen
TitleBOARD MEMBER
Name of key/compensated personKAREN KALSI CHAPMAN
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Goodall, Dan
TitleTREASURER
Name of key/compensated personDAN GOODALL
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Harmon, Rachel
TitleBOARD MEMBER
Name of key/compensated personRACHEL HARMON
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Heaphy, Tim
TitleBOARD CHAIR
Name of key/compensated personTIM HEAPHY
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Lorish, Lisa
TitleSECRETARY
Name of key/compensated personLISA LORISH
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Smith, David
TitleBOARD MEMBER
Name of key/compensated personDAVID SMITH
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Snyder, Nicole
TitleEXECUTIVE DIRECTOR
Name of key/compensated personNICOLE SNYDER
Position of compensated person
Average hours per week working for org40.00
Reportable compensation from org$55,000.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Yoon, Jasmine
TitleBOARD MEMBER
Name of key/compensated personJASMINE YOON
Position of compensated person
Current individual trustee or directorTrue
Average hours per week working for org2.00
Reportable compensation from org$0.00
Other comp, non-reportable, from org and related orgs$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00
Purpose: mission, activities, & accomplishments
Mission or significant activitiesTHE FOUNTAIN FUND PROVIDES LOW-INTEREST LOANS, FINANCIAL EDUCATION, AND COMMUNITY SUPPORT TO FORMERLY INCARCERATED PEOPLE IN VIRGINIA. LOANS CAN BE USED TO PAYOFF COURT-IMPOSED OBLIGATIONS (COSTS, FINES, FEES, RESTITUTION, CHILD SUPPORT, ETC.), TO PURCHASE JOB-RELATED EQUIPMENT, OR TO START A SMALL BUSINESS.
Program service expenses, total$99,328.00
Programs, including revenue & expenses
PROGRAMMING TO PROVIDE FINANCIAL EDUCATION, BUDGET COUNSELING, AND CREDIT-BUILDING TO INSTRUCT CLIENTS ON THE BASICS OF PERSONAL FINANCE AND MONEY MANAGEMENT. PROVISION OF LOW-INTEREST LOANS TO MEET THE FUND'S GUIDELINES FOR ELIGIBLE LOAN PARTICIPANTS.
Program expenses$99,328.00
Program descriptionPROGRAMMING TO PROVIDE FINANCIAL EDUCATION, BUDGET COUNSELING, AND CREDIT-BUILDING TO INSTRUCT CLIENTS ON THE BASICS OF PERSONAL FINANCE AND MONEY MANAGEMENT. PROVISION OF LOW-INTEREST LOANS TO MEET THE FUND'S GUIDELINES FOR ELIGIBLE LOAN PARTICIPANTS.
Financial data
Revenue
Total revenue$423,808.00
Revenue from contributions (total)$423,161.00
Investment income, current yr$647.00
Total revenue from grants, etc., current yr$423,161.00
Total unrelated business revenue$0.00
Other revenue, current yr$0.00
Net unrelated business taxable revenue$0.00
Gross receipts$423,808.00
Sources of contributions
Revenue from all other contributions$423,161.00
Other types of revenue
Income from dividends, interest, and similar investments$647.00
Expense categories (totals)
Total functional expenses: sum of all$124,183.00
Total functional expenses: program service $99,328.00
Total functional expenses: management and general$9,832.00
Total functional expenses: fundraising$15,023.00
Fees for services
Fundraising service fees (total)$0.00
Assets and liabilities
Total assets$359,860.00
Total assets, beginning of year$60,235.00
Total liabilities$0.00
Total liabilities, beginning of year$0.00
Unrestricted net assets, end of yr$359,860.00
Net assets$359,860.00
Net assets, beginning of year$60,235.00
Cash: non-interest bearing$319,116.00
Cash: non-interest bearing, beginning of year$60,235.00
Other financial variables
Revenue less expenses$299,625.00
Total net assets or fund balances$359,860.00
Governance and accountability
Number of voting members7
Number of independent voting members7
Cash accountingTrue
Tax year start date2017-01-01
Tax year end date2017-12-01
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990
Date e-filing submitted2018-09-28
IRS schema version2017v2.2
Filing identifier201821989349300902
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