Maryland · Nonprofit
TRUE FOUNDRY INC
TRUE FOUNDRY INC (Maryland) receives grants from 6 organizations whose IRS filings report $93,166 to it, the largest being FIDELITY INVESTMENTS CHARITABLE GIFT FUND ($35,000). 3 of them have funded it in more than one year, and 64% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- Revenue FY2024
- $40k
- Funders on record
- 6
- Grants received
- $93k
- Net assets
- $83k
What True Foundry Inc does
Mission
True Foundry helps underrepresented entrepreneurs build impactful businesses through mentorship, business coaching and consulting, bridge loans, investor readiness, business training/tools, networking events, startup strategy advising, startup ecosystem events, and grants.
As stated on its FY2024 Form 990-EZ.
Program
Grant given for consultants in Ghana to provide coaching and advisory support to 20 startups led by underrepresented founders which helped them create 123 new jobs and sustain a total of 625 jobs.
$0 spentof which $9,981 as grants
The program described on its FY2024 Form 990-EZ. Program spending in total: $0.
The organization over time
Each line starts at 100 in 2022, so what you read is the shape rather than the size: 150 means half as much again as 2022, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2022 to 2023, from $36k to $104k (+186%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
88% of TRUE FOUNDRY INC’s revenue is contributions — more donation-reliant than the typical peer (77% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 0 of the last 3 reported years ran a deficit.
Leadership and staff
Chief executive
Peter Mueller
Executive Director/Treasurer/Secretary
Board chair
Theodore Sutherland
Chairman of the Board
As listed on its FY2024 Form 990-EZ.
Who funds it, year by year
2022 → 2023: the base broadened from 1 funder to 6 funders, grant income rose $15k → $53k.
3 of 6 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 64% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of TRUE FOUNDRY INC’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
TRUE FOUNDRY INC leans on a few funders — its largest provides 38% of grant income and the top three 91%; half comes from just 2 funders.
the vertical line marks half of all grant income — 2 funders to its left
91% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund TRUE FOUNDRY INC.
Largest funder’s share by year: 2022 100% · 2023 47% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Where its funders are
64% of TRUE FOUNDRY INC's grant income arrives through donor-advised or pass-through sponsors, whose addresses record where the money is held rather than where the donor is. Of the $33k that is directly attributable, 100% of it comes from funders outside Maryland, across 3 states.
Funder states come from each funder’s own filing. $60k arriving through sponsors registered in 3 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
TRUE FOUNDRY INC runs a healthier operating margin than three-quarters of the 9,376 community improvement nonprofits its size.
this organization peer median middle 50% of peers· 9,376 community improvement nonprofits under $100k, FY2024
Organizations like TRUE FOUNDRY INC
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Maryland
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Footprint & structure
Files a return copy in 1 state
Screen this organization
A dated, signed PDF of the compliance screen for TRUE FOUNDRY INC: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds TRUE FOUNDRY INC?
- TRUE FOUNDRY INC (Maryland) receives grants from 6 organizations whose IRS filings report $93,166 to it, the largest being FIDELITY INVESTMENTS CHARITABLE GIFT FUND ($35,000). 3 of them have funded it in more than one year, and 64% of the money arrives through donor-advised or pass-through sponsors rather than from an institution directly.
- How many funders does TRUE FOUNDRY INC have?
- IRS filings report 6 organizations giving $93,166 in grants to TRUE FOUNDRY INC, 3 of which have funded it in more than one year.
- Who is the largest funder of TRUE FOUNDRY INC?
- FIDELITY INVESTMENTS CHARITABLE GIFT FUND is the largest funder on record, with $35,000 in grants. The full list of funders is on this page.
- How can an organization like TRUE FOUNDRY INC find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Maryland. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds True Foundry →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2024 (financials across 2022–2024), and the filings of 6 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 14, 2026. What this page cannot tell you · view filing