Nonprofit · EIN 85-4344123
POTENTIAL OF ONE
Tax-exempt · CHARLOTTE, MI 48813
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $4,679 | $55,985 | -$51,306 | $122,548 | $77,294 | $45,254 |
| December 31, 2023 | 990-PF | $808 | $2,482 | -$1,674 | $121,560 | $25,000 | $96,560 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Interest
- $4,679
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Disbursements for charitable purposes
- $55,313
- Excise tax on investment income
- $56
Balance sheet and other
- Total assets, start of year
- $121,560
- Total assets, end of year
- $122,548
- Total liabilities, end of year
- $77,294
- Net assets, end of year
- $45,254
- Fair market value of assets
- $122,548
- Qualifying distributions
- $55,313
- Net investment income
- $4,679
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-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ANTHONY V V FAULKNER 224 S COCHRAN AVE, CHARLOTTE, MI 48813 | PRES, TREAS, SECRETARY, DIRECTOR | 2 | $0 |
| VICTORIA E COX 224 S COCHRAN AVE, CHARLOTTE, MI 48813 | DIRECTOR | 2 | $0 |
| CHRISTOPHER L ARSENAULT 224 S COCHRAN AVE, CHARLOTTE, MI 48813 | DIRECTOR | 2 | $0 |
990-PF for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ANTHONY V V FAULKNER 224 S COCHRAN AVE, CHARLOTTE, MI 48813 | PRES, TREAS, SECRETARY, DIRECTOR | 2 | $0 |
| VICTORIA E COX 224 S COCHRAN AVE, CHARLOTTE, MI 48813 | DIRECTOR | 2 | $0 |
| CHRISTOPHER L ARSENAULT 224 S COCHRAN AVE, CHARLOTTE, MI 48813 | DIRECTOR | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 224 S COCHRAN AVE, CHARLOTTE, MI 48813-1551
- In care of
- % CHRISTOPHER ARSENAULT
- Signed the 990-PF
- ANTHONY V V FAULKNER, PRESIDENT
- Phone
- (855) 200-4365
- Website
- WWW.POTENTIALOFONE.ORG
- Return prepared by
- ARSENAULT & EDDY CPAS PC
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. 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-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 85-4344123
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private operating foundation
- Donations deductible (Pub 78)
- Private operating foundation, 50% limit
- Exempt since
- 2023
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Education (B99)
- Assets (IRS master file)
- $122,548
- Income (IRS master file)
- $4,679
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $4,679 | $55,985 | $122,548 | IRS |
| 990-PF | December 2023 | $808 | $2,482 | $121,560 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | 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 85-4344123).
Questions about POTENTIAL OF ONE
- What is the EIN of POTENTIAL OF ONE?
- The employer identification number (EIN) of POTENTIAL OF ONE is 85-4344123.
- Is POTENTIAL OF ONE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to POTENTIAL OF ONE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private operating foundation, 50% limit).
- Which annual return does POTENTIAL OF ONE file?
- Form 990-PF. Private foundations file every year.
- When is the next return of POTENTIAL OF ONE 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 POTENTIAL OF ONE last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of POTENTIAL OF ONE?
- The 990-PF for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does POTENTIAL OF ONE have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $4,679, expenses of $55,985 and total assets of $122,548 at year end.
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