Nonprofit · EIN 46-3891359
2040 FOUNDATION INC
Tax-exempt · CHARLOTTE, NC 28204
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $805,127 | $14,695,873 | -$13,890,746 | $90,780,888 | $107,519 | $90,673,369 |
| December 31, 2023 | 990 | $392,925 | $16,517,816 | -$16,124,891 | $100,049,962 | $399,218 | $99,650,744 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $805,127
- Net gain from sales of assets
- $382,741
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $12,784,227
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $5,460
- Accounting fees
- $40,953
- Occupancy
- $20,554
- Travel
- $21,367
- Program services (functional)
- $13,165,417
- Management and general (functional)
- $1,530,456
Balance sheet and other
- Total assets, start of year
- $100,049,962
- Total assets, end of year
- $90,780,888
- Total liabilities, end of year
- $107,519
- Net assets, end of year
- $90,673,369
- Publicly traded securities
- $958,888
- Net assets without donor restrictions
- $90,673,369
- Gross unrelated business income
- $38,822
- Gross receipts
- $18,230,318
- Employees
- 0
- Volunteers
- 2
- Year formed
- 2013
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Jeremy Harrell | Board Member Trustee or director | 2 | $0 | $667,057 | $59,330 |
| Rich Powell | Board Member Trustee or director | 2 | $0 | $253,530 | $30,071 |
| Dana Ring | Board Member Trustee or director | 2 | $0 | $237,362 | $29,331 |
| Matthew Eby | Board Member Trustee or director | 2 | $0 | $53,077 | $972 |
| Jay W Faison | President Trustee or director, Officer | 5 | $0 | $19,354 | $0 |
| Bert Davis | Board Member Trustee or director | 2 | $0 | $0 | $0 |
| Bill Clements | Board Member Trustee or director | 2 | $0 | $0 | $0 |
| Mark T Bruinooge | Chief Financial Officer Officer | 2 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Rich Powell | Board Member Trustee or director | 2 | $0 | $697,174 | $62,659 |
| Matthew Eby | Board Member Trustee or director | 2 | $0 | $389,132 | $10,868 |
| Dana Ring | Board Member Trustee or director | 2 | $0 | $227,735 | $21,514 |
| Jay W Faison | President Trustee or director, Officer | 5 | $0 | $13,816 | $35,780 |
| Bill Clements | Board Member Trustee or director | 2 | $0 | $0 | $0 |
| Mark T Bruinooge | Chief Financial Officer Officer | 2 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1355 GREENWOOD CLFS STE 400, CHARLOTTE, NC 28204-2978
- In care of
- % SEAN M SMITH
- Principal officer (990 for 2024)
- Jay W Faison, 1355 Greenwood Cliff Drive 400, Charlotte, NC 28204
- Signed the 990
- Jay W Faison, President
- Phone
- (704) 945-0487
- Website
- www.mission2040.org
- Return prepared by
- Forvis Mazars LLP
Mission
Accelerate America's clean energy future with conservative solutions.
Program accomplishments
- Through financial assistance and educational programs, 2040 Foundation Inc provided extensive research and analysis to the general public, provided insights to federal and state government policy makers on the benefits of clean energy solutions, enhanced the ability of faith-based public charities to scale up their social impact, and supported clean energy programs by providing financial support to other public charities.Expenses $13,165,417 · grants $12,784,227
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 46-3891359
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2014
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T20)
- Assets (IRS master file)
- $90,780,888
- Income (IRS master file)
- $18,230,318
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $805,127 | $14,695,873 | $90,780,888 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $392,925 | $16,517,816 | $100,049,962 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | -$421,090 | $17,286,494 | $107,868,029 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-3891359).
Questions about 2040 FOUNDATION INC
- What is the EIN of 2040 FOUNDATION INC?
- The employer identification number (EIN) of 2040 FOUNDATION INC is 46-3891359.
- Is 2040 FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
- Are donations to 2040 FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does 2040 FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of 2040 FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did 2040 FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of 2040 FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names Jay W Faison.
- Who are the officers and directors of 2040 FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 8 people; 0 received compensation from the organization.
- How much revenue does 2040 FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $805,127, expenses of $14,695,873 and total assets of $90,780,888 at year end.
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All nonprofits in CHARLOTTE · North Carolina · Philanthropy, voluntarism and grantmaking foundations