Francis M Barnes Memorial Tr
- Assets
- $4.8m
- Revenue
- $1.0m
- Investments
- $4.4m
- Employees
- 0
- Location
- Williamston, NC
- Founding
- 10/2005
- Data as of
- 06/2022
- EIN
- 20-1533095
Organization Overview
Francis M Barnes Memorial Tr is located in Williamston, NC. The organization was established in 2005. 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. Francis M Barnes Memorial Tr 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 06/2022, Francis M Barnes Memorial Tr generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $326.9k during the year ending 06/2022. While expenses have increased by 7.0% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS GRANTED TO 24 MARTIN COUNTY STUDENTS ATTENDING HIGHER EDUCATION INSTITUTIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer B Thigpen Trustee | 10 | $31,001 | |
Joel T Thigpen Trustee | 10 | $31,001 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $25 |
| Dividends & Interest | $84,070 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $924,951 |
| Capital Gain Net Income | $924,951 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,009,046 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $62,002 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $22,408 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $51,079 |
| Total operating and administrative expenses | $137,671 |
| Contributions, gifts, grants paid | $189,250 |
| Total expenses and disbursements | $326,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $426,072 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,836,853 |
| 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, Francis M Barnes Memorial Tr has awarded $155,750 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
21 MARTIN COUNTY STUDENTS PURPOSE: SECONDARY EDUCATION | $135,750 |
MARTIN COUNTY COMMUNITY COLLEGE PURPOSE: SECONDARY EDUCATION | $10,000 |
Washington, NC PURPOSE: SECONDARY EDUCATION | $5,000 |
PITT COUNTY COMMUNITY COLLEGE PURPOSE: SECONDARY EDUCATION | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Arthur M Blank Family Foundation Atlanta, GA | $365,187,486 | $84,889,977 |
Pyramid Peak Foundation Memphis, TN | $230,284,852 | $119,724,559 |
John Bulow Campbell Foundation Atlanta, GA | $793,659,742 | $103,345,098 |
The Rosser Foundation A Pure Charitable Trust And Public Charit Hampton, VA | $12,195,900 | $36,359,396 |
Darla Moore And Richard Rainwater Foundation Lake City, SC | $538,432,800 | $34,322,461 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
John M Belk Endowment Charlotte, NC | $344,527,989 | $19,824,991 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
The Henry W Grady Health System Foundation Inc Atlanta, GA | $41,862,389 | $12,481,516 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |
The Ezrah Charitable Trust Charlotte, NC | $259,414,844 | $89,054,665 |