The Jim & Betty Young Family Foundation
- Assets
- $468.4k
- Revenue
- $17.1k
- Investments
- $458.4k
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 03/2007
- Data as of
- 12/2022
- EIN
- 20-1819749
Organization Overview
The Jim & Betty Young Family Foundation is located in Charlotte, NC. The organization was established in 2007. 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. Jim & Betty Young Family Foundation 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 12/2022, Jim & Betty Young Family Foundation generated $17.1k 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 (15.8%) each year. All expenses for the organization totaled $37.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.8%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Jim & Betty Young Family Foundation has awarded 42 individual grants totaling $353,690. 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 |
|---|---|---|---|
Louis G Young Director | 10 | $2,000 | |
Carol Y Gallagher Community Li | 15 | $2,000 | |
Patricia L Young Director | 10 | $2,000 | |
James R Young Director | 10 | $2,000 | |
J Henry Young Jr Treasurer | 15 | $2,000 | |
Barbara E Young Secretary | 15 | $2,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6 |
| Dividends & Interest | $11,297 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,751 |
| Capital Gain Net Income | $5,751 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $17,054 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $14,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $508 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $18,136 |
| Contributions, gifts, grants paid | $19,200 |
| Total expenses and disbursements | $37,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,042 |
| 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 | $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 | $468,405 |
| Accounts payable and accrued expenses | $1,000 |
| 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 | $1,000 |
Grants Awarded
Over the last fiscal year, The Jim & Betty Young Family Foundation has awarded $19,200 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ANDERSON INTERFAITH MINISTRIES PURPOSE: OPERATIONS | $10,000 |
Anderson, SC PURPOSE: OPERATIONS | $5,000 |
LOT PROJECT PURPOSE: OPERATIONS | $2,700 |
ANDERSON FREE CLINIC PURPOSE: OPERATIONS | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robins Foundation Richmond, VA | $182,936,779 | $19,761,890 |
Virginia Institute Of Autism Incorporated Charlottesville, VA | $13,400,970 | $11,731,710 |
Joe C Davis Foundation Nashville, TN | $101,782,891 | $6,182,733 |
Fraser-Parker Foundation Atlanta, GA | $226,420,772 | $14,099,479 |
Paces Foundation Inc Smyrna, GA | $85,397,872 | $9,603,919 |
Gambrell Foundation Charlotte, NC | $0 | $18,901,501 |
The Ma-Ran Foundation Atlanta, GA | $81,838,064 | $4,938,726 |
Day Foundation Memphis, TN | $0 | $13,711,953 |
Clayton Family Foundation Knoxville, TN | $90,913,195 | $17,391,150 |
Affordable Housing Opportunity Fund Inc Charlottesville, VA | $703,537 | $6,974,715 |
G Harbaugh Foundation Franklin, TN | $61,708,468 | $12,393,056 |
Robert H Smith Family Foundation Arlington, VA | $10,315,724 | -$3,599,936 |