Philanthropy Tank Inc.

Overview

Philanthropy Tank Inc. is a nonprofit organization established in 2015, headquartered in Palm Beach County, Florida, with a mission to empower and inspire the next generation of changemakers. The organization focuses on equipping students, primarily in grades 8-11, to implement sustainable, service-driven solutions addressing community challenges. Philanthropy Tank aims to foster social change by transforming student-led initiatives into impactful projects.

Mission and Values

The mission of Philanthropy Tank is to nurture students' leadership capabilities while promoting ethical social engagement within their communities. The organization embodies core values of mentorship, empowerment, and knowledge-sharing which guide its operations:

• Mentor: Establish a robust support system through experienced mentors, coaches, and investors.

• Equip: Provide students with essential skills in leadership, philanthropy, and career development.

• Empower: Create an environment conducive to innovative thinking and social change leadership.

Programs and Impact

Since its inception, Philanthropy Tank has awarded over $700,000 in funding to more than 70 student-led projects. Approximately 40% of these initiatives have evolved into independent 501(c)(3) nonprofit organizations. The organization operates primarily in Palm Beach County and Baltimore, Maryland, focusing on various sectors, including:

• Arts and Culture
• Community Development
• Education and Youth
• Environmental Activism
• Food Insecurity
• Health and Human Services
• Human and Gender Rights
• Racial Equality

Philanthropy Tank encourages students to apply for funding to realize their community impact ideas, empowering them through mentorship and training workshops designed to enhance their capabilities in leadership and project management.

Financial Information

Philanthropy Tank Inc. is classified under the National Taxonomy of Exempt Entities (NTEE) as a charitable organization focused on philanthropy, voluntarism, and grantmaking. According to its financial reports for 2023, the organization reported total revenues of approximately $399,000, with expenses totaling around $664,000. The organization holds total assets amounting to $110,000 and total liabilities of $322,000.

Governance

The governance of Philanthropy Tank includes a structured board of directors that plays a crucial role in overseeing the organization’s strategic direction and performance. The board is committed to transparency and inclusivity, ensuring diverse perspectives in decision-making processes.

Conclusion

Philanthropy Tank Inc. plays a significant role in fostering youth-led initiatives aimed at social change in their communities. Through its funding and mentorship programs, the organization cultivates the leaders of tomorrow, helping them develop the skills necessary to address pressing social issues effectively. As it continues to expand its reach, Philanthropy Tank aspires to inspire even more students to become active participants in philanthropy and community service.