Francis M Barnes Memorial Tr
- Assets
- $4.5m
- Revenue
- -$62.3k
- Investments
- $4.3m
- Employees
- 0
- Location
- Williamston, NC
- Founding
- 10/2005
- Data as of
- 06/2023
- 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS GRANTED TO 30 MARTIN COUNTY STUDENTS ATTENDING HIGHER EDUCATION INSTITUTIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel T Thigpen Trustee | 10 | $25,289 | |
Jennifer B Thigpen Trustee | 10 | $25,289 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,299 |
| Dividends & Interest | $112,468 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$178,104 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | -$62,337 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $50,578 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,535 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $36,330 |
| Total operating and administrative expenses | $104,593 |
| Contributions, gifts, grants paid | $201,915 |
| Total expenses and disbursements | $306,508 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $211,838 |
| 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 | $4,468,008 |
| 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 |
BEAUFORT COUNTY COMMUNITY COLLEGE PURPOSE: SECONDARY EDUCATION | $5,000 |
MARTIN COUNTY COMMUNITY COLLEGE PURPOSE: SECONDARY EDUCATION | $10,000 |
PITT COUNTY COMMUNITY COLLEGE PURPOSE: SECONDARY EDUCATION | $5,000 |