Bill And Carol Latimer Charitable Foundation
- Assets
- $161.0m
- Revenue
- $28.5m
- Investments
- $159.1m
- Employees
- 0
- Location
- Union City, TN
- Founding
- 09/2006
- Data as of
- 12/2023
- EIN
- 20-3450991
Organization Overview
Bill And Carol Latimer Charitable Foundation is located in Union City, TN. The organization was established in 2006. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bill And Carol Latimer Charitable 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 12/2023, Bill And Carol Latimer Charitable Foundation generated $28.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 22.5% each year . All expenses for the organization totaled $8.7m during the year ending 12/2023. While expenses have increased by 7.4% per year over the past 9 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.
Since 2014, Bill And Carol Latimer Charitable Foundation has awarded 332 individual grants totaling $58,777,867. 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 |
|---|---|---|---|
William Latimer III Trustee | 0 | $0 | |
Carol Latimer Trust Committee Member | 0 | $0 | |
John Warner Jr Trust Committee Member | 0 | $0 | |
Phillip H Creswell Trust Committee Member | 0 | $0 | |
Lolly Bearden Trust Committee Member | 0 | $0 | |
Mark M Layne Trust Committee Chairman | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,575,675 |
| Interest on Savings | $8,249 |
| Dividends & Interest | $1,355,440 |
| Net Rental Income | $429,567 |
| Net Gain on Sale of Assets | $3,026,311 |
| Capital Gain Net Income | $3,026,311 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $15,136,460 |
| Total Revenue | $28,531,702 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $334,467 |
| Depreciation | $354 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $749,643 |
| Total operating and administrative expenses | $1,084,464 |
| Contributions, gifts, grants paid | $7,600,384 |
| Total expenses and disbursements | $8,684,848 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $260,488 |
| 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 | $455,310 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $100,880,815 |
| Net Land, buildings, and equipment | $1,183,831 |
| Other assets | $0 |
| Total assets | $161,006,492 |
| 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, Bill And Carol Latimer Charitable Foundation has awarded $7,600,384 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
BILLY GRAHAM TRAINING CENTER PURPOSE: RELIGIOUS | $50,000 |
BROOKS CHAPEL MINISTRIES PURPOSE: RELIGIOUS | $9,240 |
ASBURY THEOLOGICAL SEMINARY PURPOSE: RELIGIOUS | $4,500,000 |
CHRISTIAN COMMUNITY FOUNDATION PURPOSE: RELIGIOUS | $240,000 |
FELLOWSHIP OF CHRISTIAN ATHLETICS PURPOSE: EDUCATIONAL | $30,000 |
FOUNDATION IN CHRIST PURPOSE: RELIGIOUS | $200,000 |