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5mpower Foundation is a private trust based in CHARLOTTE, NC. The foundation received its IRS ruling in 2012. It holds total assets of $664K. Annual income is reported at $34K. Total assets have grown from $43K in 2011 to $665K in 2023. The foundation is governed by 2 officers and trustees. The foundation operates in the area of philanthropy & grantmaking. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2016 to 2023. According to available records, 5mpower Foundation has made 10 grants totaling $174K, with a median grant of $20K. Annual giving has decreased from $40K in 2020 to $31K in 2023. Grantmaking activity was highest in 2022 with $66K distributed across 4 grants. Individual grants have ranged from $6K to $25K, with an average award of $17K. The foundation has supported 5 unique organizations. Grants have been distributed to organizations in North Carolina and Indiana and Ohio. Contributions to this foundation are tax-deductible.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
5mpower Foundation primarily funds organizations in the area of philanthropy & grantmaking. Based on available records, the foundation has funded 10 grants. Its grantmaking reaches organizations primarily in NC, IN, OH.
5mpower Foundation has distributed a total of $174K across 10 grants. The median grant size is $20K, with an average of $17K. Individual grants have ranged from $6K to $25K.
5mpower Foundation typically selects its grantees rather than accepting unsolicited proposals.
5mpower Foundation is headquartered in CHARLOTTE, NC. While based in NC, the foundation distributes grants to organizations across 3 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Michael J Salvino | Trustee | $0 | $0 | N/A |
| Denise M Salvino | Trustee | $0 | $0 | N/A |
Total Giving
$35K
Total Assets
$665K
Fair Market Value
$612K
Net Worth
$665K
Grants Paid
$31K
Contributions
N/A
Net Investment Income
$22K
Distribution Amount
$29K
Total Grants
10
Total Giving
$174K
Average Grant
$17K
Median Grant
$20K
Unique Recipients
5
Most Common Grant
$25K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Atrium Health Levine Cancer Instituechartitable purposes | Charlotte, NC | $25K | 2023 |
| Marietta Collegeeducational purposes | Marietta, OH | $6K | 2023 |
| Atrium Health Foundationcharitable purposes | Charlotte, NC | $25K | 2022 |
| St Bridget Roman Catholic Churchchartitable purposes | Hobart, IN | $8K | 2022 |
| Charlotte Catholic Aa-Cougars For A Curechartitable purposes | Charlotte, NC | $12K | 2021 |