Frank P Pierce Foundation Inc
- Assets
- $20.0m
- Revenue
- $4.0m
- Investments
- $18.0m
- Employees
- 0
- Location
- Chattanooga, TN
- Founding
- 08/2004
- Data as of
- 12/2021
- 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 12/2021, Frank P Pierce Foundation Inc generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.5% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 7.6% per year over the past 7 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 40 individual grants totaling $5,988,038. 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 & Dire | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,388,221 |
| Interest on Savings | $45,637 |
| Dividends & Interest | $249,464 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,345,311 |
| Capital Gain Net Income | $2,345,311 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,314 |
| Total Revenue | $4,029,947 |
| 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 | $40,092 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $244,604 |
| Total operating and administrative expenses | $417,226 |
| Contributions, gifts, grants paid | $1,135,000 |
| Total expenses and disbursements | $1,552,226 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,963,996 |
| 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 | $25,000 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $18,039,358 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $20,028,354 |
| 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 $1,135,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Chattanooga, TN PURPOSE: HOSPITAL CONSTRUCTION | $1,000,000 |
Chattanooga, TN PURPOSE: HOSPITAL CONSTRUCTION | $100,000 |
Chattanooga, TN PURPOSE: EDUCATION | $20,000 |
RESTORE 634 PURPOSE: RELIGIOUS EDUCATION | $10,000 |
Chickamauga, GA PURPOSE: EDUCATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
Paula And Rodger Riney Foundation St Louis, MO | $118,536,395 | $1,770,419 |
The Henry W Grady Health System Foundation Inc Atlanta, GA | $41,862,389 | $12,481,516 |
Willard And Pat Walker Charitable Foundation Inc Fayetteville, AR | $353,155,323 | $36,054,174 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |
The Ezrah Charitable Trust Charlotte, NC | $259,414,844 | $89,054,665 |
Robert E And Jenny D Kirkland Foundation Union City, TN | $287,925,102 | $17,113,043 |
Speer Foundation Brentwood, TN | $160,979,713 | $8,246,449 |
The Haslam 3 Foundation Inc Knoxville, TN | $5,285,692 | $10,045,433 |
Phil J And Alice S Sheridan Foundation Inc Macon, GA | $17,357,251 | $6,663,970 |
Davis Love Iii Foundation St Simons Island, GA | $5,238,841 | $10,992,325 |
Scarlett Family Foundation Nashville, TN | $163,054,305 | $18,551,241 |