Frank P Pierce Foundation Inc
- Assets
- $20.2m
- Revenue
- $1.4m
- Investments
- $19.5m
- Employees
- 0
- Location
- Chattanooga, TN
- Founding
- 08/2004
- Data as of
- 12/2023
- EIN
- 20-0597131
Organization Overview
Frank P Pierce Foundation Inc is located in Chattanooga, TN. The organization was established in 2004. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Frank P Pierce Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Frank P Pierce Foundation Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.4% each year . All expenses for the organization totaled $1.4m during the year ending 12/2023. While expenses have increased by 18.4% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Frank P Pierce Foundation Inc has awarded 68 individual grants totaling $8,263,994. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas S Tarvin President & Director | 12 | $35,400 | |
R Wayne Peters Secretary & Treasurer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $38,276 |
| Dividends & Interest | $361,178 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,010,019 |
| Capital Gain Net Income | $1,010,019 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,898 |
| Total Revenue | $1,411,371 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $35,400 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,015 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $3,765 |
| Total operating and administrative expenses | $323,926 |
| Contributions, gifts, grants paid | $1,042,623 |
| Total expenses and disbursements | $1,366,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $728,977 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,540 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $19,451,096 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $20,198,613 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Frank P Pierce Foundation Inc has awarded $1,525,956 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOCIATION PURPOSE: CHARITABLE CONTRIBUTION | $333,333 |
CATOOSA COUNTY GEORGIA PURPOSE: CHARITABLE CONTRIBUTION | $5,000 |
WALKER COUNTY GEORGIA PURPOSE: CHARITABLE CONTRIBUTION | $5,000 |
CHEROKEE REGIONAL LIBRARY SYSTEM PURPOSE: CHARITABLE CONTRIBUTION | $80,000 |
CHEROKEE REGIONAL LIBRARY SYSTEM PURPOSE: CHARITABLE CONTRIBUTION | $79,750 |
CHILDRENS ADVOCACY CENTER OF THE LOOKOUT MT JUDICIAL CIRCUIT PURPOSE: CHARITABLE CONTRIBUTION | $25,000 |