Farrow Family Foundation
- Assets
- $280.4k
- Revenue
- $69.6k
- Investments
- $258.0k
- Employees
- 0
- Location
- Ooltewah, TN
- Founding
- 04/2007
- Data as of
- 12/2022
- EIN
- 20-1989480
Organization Overview
Farrow Family Foundation is located in Ooltewah, TN. 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. Farrow 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, Farrow Family Foundation generated $69.6k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $27.4k during the year ending 12/2022. 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
TO PROVIDE FUNDS FOR THE PURPOSE OF ADVANCING THE GOALS OF SPREADING THE GOSPEL OF JESUS CHRIST THROUGH MISSIONS, EDUCATIONAL PROGRAMS AND OTHER DEVELOPMENT PROJECTS.
TO PROVIDE FUNDS FOR THE PURPOSE OF ASSISTING WITH CHRISTIAN EDUCATION IN SCHOOLS AND COLLEGES FOR THEIR GENERAL, ATHLETIC AND SCHOLARSHIP FUNDS.
TO PROVIDE FUNDS FOR THE PURPOSE OF PROMOTING COMMUNITY ACTIVITY, HEALTH AND WELLNESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Franklin Farrow President | 2 | $0 | |
Tamatha C Farrow Secretary | 3 | $0 | |
Larry J Farrow Treasurer | 1 | $0 | |
Doug Barrow Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $58,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $5,685 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,871 |
| Capital Gain Net Income | $5,871 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $69,556 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $216 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,330 |
| Total operating and administrative expenses | $3,921 |
| Contributions, gifts, grants paid | $23,500 |
| Total expenses and disbursements | $27,421 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,946 |
| Savings and temporary cash investments | $18,482 |
| 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 | $257,987 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $280,415 |
| 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, Farrow Family Foundation has awarded $23,500 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUBS OF CHATTANOOGA PURPOSE: PROGRAM FUND | $2,500 |
COLLEGEDALE ACADEMY PURPOSE: STUDENT SUPPORT | $500 |
COLLEGEDALE SDA CHURCH PURPOSE: PROGRAM FUND | $500 |
J-103 J-FEST PURPOSE: PROGRAM FUND | $5,000 |
NICA MINISTRIES PURPOSE: PROGRAM FUND | $5,000 |
SAMARITAN CENTER PURPOSE: PROGRAM FUND | $5,000 |