Carrie E And Lena V Glenn Foundation Inc
- Assets
- $7.3m
- Revenue
- $230.3k
- Investments
- $7.0m
- Employees
- 0
- Location
- Gastonia, NC
- Founding
- 03/2005
- Data as of
- 06/2024
- EIN
- 20-1808211
Organization Overview
Carrie E And Lena V Glenn Foundation Inc is located in Gastonia, NC. The organization was established in 2005. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Carrie E And Lena V Glenn 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 06/2024, Carrie E And Lena V Glenn Foundation Inc generated $230.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $356.6k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Carrie E And Lena V Glenn Foundation Inc has awarded 435 individual grants totaling $4,823,100. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
A HISTORY OF THE GLENN FAMILY OF GASTON COUNTY, NORTH CAROLINA AND THE CARRIE E. AND LENA V. GLENN FOUNDATION HAS BEEN WRITTEN AS A GIFT TO THE GREATER GASTON COMMUNITY. THIS HISTORY HAS BEEN PUBLISHED AND THE BOOKS WILL BE GIFTED TO INDIVIDUALS AND ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David R Rogers Chairperson | 2 | $0 | |
R Dwayne Burks Director | 2 | $0 | |
Vincent C Wong Vice Chairpe | 2 | $0 | |
James E Ratchford Treasurer | 2 | $0 | |
Amia C Massey Director | 2 | $0 | |
Sally W Queen Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $24,978 |
| Interest on Savings | $2,428 |
| Dividends & Interest | $203,253 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$317 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $230,342 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $45,667 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,988 |
| Depreciation | $0 |
| Occupancy | $14,055 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $14,707 |
| Total operating and administrative expenses | $115,070 |
| Contributions, gifts, grants paid | $241,500 |
| Total expenses and disbursements | $356,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $343,210 |
| 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 | $7,045 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,301,930 |
| Accounts payable and accrued expenses | $5,450 |
| Grants payable | $240,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $16,800 |
| Total liabilities | $262,250 |
Grants Awarded
Over the last fiscal year, Carrie E And Lena V Glenn Foundation Inc has awarded $451,500 in support to 44 organizations.
| Grant Recipient | Amount |
|---|---|
AFRICAN AMERICAN MUSEUM OF HISTORY PURPOSE: PROJECT I.N.V.E.S.T. | $5,000 |
AUTISM SOCIETY OF NORTH CAROLINA PURPOSE: AUTISM RESOURCE | $4,000 |
BACKPACK WEEKEND FOOD PROGRAM PURPOSE: WAREHOUSE SUPPORT | $10,500 |
BOYS AND GIRLS CLUBS PURPOSE: COVID RESPONSE ENRICHMENT PROGRAM | $10,000 |
BIT OF HOPE RANCH PURPOSE: MENTAL HEALTH ASSISTANCE | $5,000 |
CAROLINA CROSS CONNECTION PURPOSE: HOME REPAIR PROGRAM | $5,000 |