Philanthropy Tank Inc

Nonprofit profile at a glance

EIN
463206074
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Boca Raton, FL, USA
Phone
5619103893
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Philanthropy, Charity, Voluntarism Promotion

Reported finances

Revenue
$404,940
Expenses
$467,535
Assets
$96,038
Liabilities
$82,894

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • AMY R BRAND (CHIEF EXECUTIVE OFFICER)
  • EVAN C DEOUL (PRESIDENT)

Highest reported compensation

  • AMY R BRAND (CHIEF EXECUTIVE OFFICER): $70,088 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o - x general explanation attachment

What it reported doing in 2024

During FY25, Philanthropy Tank celebrated its 10th Anniversary while continuing to empower the next generation of CHANGEmakers to identify community challenges and develop sustainable, student-led solutions. The organization engaged approximately 400 middle and high school students through its CHANGEmaker program, school-based clubs, workshops, and community outreach. Forty-five students representing ten schools applied to the program, with eight student-led initiatives selected to receive $61,500 in funding, mentorship, and year-long support. These initiatives are addressing a wide range of community needs, including support for hospitalized children and young cancer patients, STEM education for underserved youth, tech support and online safety counseling for older adults, music therapy for seniors experiencing cognitive decline, food allergy awareness, and services for individuals and families experiencing homelessness. Philanthropy Tank also expanded its school- based programming, strengthened community partnerships, and hosted its 10th Anniversary Finals Celebration, where student finalists presented their initiatives to philanthropists, educators, business leaders, and community supporters. Approximately 67% of the student-led initiatives funded since the organizations founding remain active today, demonstrating the programs lasting community impact.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 86
  • Accountability: 90
  • Sustainability: 15
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.8%; rating input score 93
  • Program expense ratio: 80.4%; rating input score 80
  • Fundraising efficiency: $12.91 raised per $1 spent on fundraising; rating input score 46; 46th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -15.5%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 15%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: -18.1% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 92.8% of revenue deployed · 80.4% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $376K in reported program spending
  • Leadership: top reported pay $70K · 7 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.