Nonprofit · EIN 87-3938296
GARNET IMPACT INC
Tax-exempt · TALLAHASSEE, FL 32301
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,804,062 | $2,930,720 | -$126,658 | $91,567 | $132 | $91,435 |
| December 31, 2023 | 990 | $2,253,530 | $2,406,989 | -$153,459 | $254,782 | $36,689 | $218,093 |
| December 31, 2022 | 990 | $1,179,445 | $807,893 | $371,552 | $371,552 | $0 | $371,552 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,795,671
- Program service revenue
- $0
- Investment income
- $20
- Other revenue
- $8,371
Expenses
- Grants and similar amounts paid
- $2,619,906
- Compensation of officers, directors and key employees
- $99,744
- Other salaries and wages
- $14,468
- Salaries, compensation and benefits (total)
- $154,867
- Professional fundraising fees
- $0
- Legal fees
- $44,613
- Accounting fees
- $32,957
- Program services (functional)
- $2,619,906
- Management and general (functional)
- $310,814
Balance sheet and other
- Total assets, start of year
- $254,782
- Total assets, end of year
- $91,567
- Total liabilities, end of year
- $132
- Net assets, end of year
- $91,435
- Net assets without donor restrictions
- $91,435
- Gross receipts
- $2,804,062
- Employees
- 3
- Volunteers
- 5
- Year formed
- 2022
- State of legal domicile
- FL
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 |
|---|---|---|---|
| WILL COWEN | CEO Officer | 40 | $99,744 |
| ED BURR | PRESIDENT Trustee or director, Officer | 2 | $0 |
| KEN CASHIN | DIRECTOR Trustee or director | 2 | $0 |
| DERRICK BROOKS | DIRECTOR Trustee or director | 2 | $0 |
| BRIAN MURPHY | DIRECTOR Trustee or director | 2 | $0 |
| BRIAN PHILPOT | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BOB DAVIS | PRESIDENT Trustee or director, Officer | 2 | $0 |
| ALAN FLAUMENHAFT | DIRECTOR Trustee or director | 2 | $0 |
| ANDY MILLER | DIRECTOR Trustee or director | 2 | $0 |
| ROBERT FREY | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2022: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BOB DAVIS | PRESIDENT Trustee or director | 1 | $0 |
| ALAN FLAUMENHAFT | DIRECTOR Trustee or director | 1 | $0 |
| LANCE BARTON | DIRECTOR Trustee or director | 1 | $0 |
| SUE SEMRAU | DIRECTOR Trustee or director | 1 | $0 |
| ANDY MILLER | DIRECTOR Trustee or director | 1 | $0 |
| ROBERT FREY | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 400 CAPITAL CIR SE STE 18 PMB 257, TALLAHASSEE, FL 32301-3839
- In care of
- % EUGENE R DAVIS
- Principal officer (990 for 2024)
- WILL COWEN
- Signed the 990
- WILL COWEN, PRESIDENT
- Phone
- (407) 234-0974
- Website
- HTTPS://RISINGSPEAR.COM/
- Return prepared by
- THOMAS HOWELL FERGUSON PA
Mission
DESIGNED TO EMPOWER FSU STUDENT-ATHLETES TO POSITIVELY IMPACT UNDERSERVED COMMUNITIES IN THE TALLAHASSEE AREA.
Program accomplishments
- THE ORGANIZATION HAS PROVIDED 2,500+ HOURS OF LOCAL, REGIONAL, AND NATIONAL NIL ACTIVATION OPPORTUNITIES AND APPEARANCES FOR OVER 250 STUDENT-ATHLETES. THROUGH THE ORGANIZATION, FSU STUDENT-ATHLETES CAN OPTIMIZE THEIR BRAND AND ACCESS MONETIZATION OPPORTUNITIES IN COOPERATION WITH DONORS, BUSINESSES, AND COMMUNITY PARTNERS. CURRENTLY, THE ORGANIZATION IS SERVING STUDENT-ATHLETES FROM: BASEBALL, BASKETBALL, CHEERLEADING, BEACH VOLLEYBALL, SOCCER, SOFTBALL, TENNIS, VOLLEYBALL, SWIMMING AND DIVING. THE ORGANIZATION IS AN APPROVED NON-PROFIT ORGANIZATION.Expenses $2,619,906 · grants $2,619,906
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
- 87-3938296
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S19)
- Assets (IRS master file)
- $91,567
- Income (IRS master file)
- $2,804,062
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,804,062 | $2,930,720 | $91,567 | XML |
| 990 | December 2023 | $2,253,530 | $2,406,989 | $254,782 | XML |
| 990 | December 2022 | $1,179,445 | $807,893 | $371,552 | XML |
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 87-3938296).
Questions about GARNET IMPACT INC
- What is the EIN of GARNET IMPACT INC?
- The employer identification number (EIN) of GARNET IMPACT INC is 87-3938296.
- Is GARNET IMPACT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to GARNET IMPACT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GARNET IMPACT 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 GARNET IMPACT 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 GARNET IMPACT 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 GARNET IMPACT INC?
- The 990 for the year ended December 31, 2024 names WILL COWEN.
- Who are the officers and directors of GARNET IMPACT INC?
- The 990 for the year ended December 31, 2024 lists 6 people; 1 received compensation from the organization, the highest $99,744 (WILL COWEN, CEO).
- How much revenue does GARNET IMPACT INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,804,062, expenses of $2,930,720 and total assets of $91,567 at year end.
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All nonprofits in TALLAHASSEE · Florida · Community improvement and capacity building