Shumard Foundation Inc
- Assets
- $20.8m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 09/2007
- Data as of
- 12/2022
- EIN
- 20-3798084
Organization Overview
Shumard Foundation Inc is located in Atlanta, GA. The organization was established in 2007. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shumard 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 12/2022, Shumard Foundation Inc generated $3.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Shumard Foundation Inc has awarded 454 individual grants totaling $14,828,126. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL SUPPORT TO OR FOR THE BENEFIT OF THE SERVANT FOUNDATION, INC. DBA THE SIGNATRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SHUMARD FOUNDATION, INC. SUPPORTS CHARITIES THAT ARE 501(C)(3) ORGANIZATIONS AND ARE QUALIFIED TO BE SUPPORTED BY THE SERVANT FOUNDATION, INC. DBA THE SIGNATRY. SEE SCHEDULE I FOR A DETAILED LIST OF GRANTS TO QUALIFIED CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth M Shumard Trustee/president | OfficerTrustee | 5 | $0 |
Brenda Joyce Shumard Trustee/secretary | OfficerTrustee | 3 | $0 |
William J Long Trustee/treasurer | OfficerTrustee | 3 | $0 |
Joel Reed Trustee | Trustee | 0.5 | $0 |
Dale Armstrong Trustee | Trustee | 0.5 | $0 |
Gary Long Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $30,600 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,600 |
| Total Program Service Revenue | $0 |
| Investment income | $3,089,572 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $405,098 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,525,870 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,526,398 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,378 |
| Fees for services: Accounting | $8,963 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $77 |
| Total functional expenses | $1,588,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $88,805 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,846,225 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,872,636 |
| Total assets | $20,807,666 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $20,807,666 |
| Total liabilities and net assets/fund balances | $20,807,666 |
Grants Awarded
Over the last fiscal year, Shumard Foundation Inc has awarded $1,469,298 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
AFRICA TRANSFORMATION NETWORK INC PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
ASSOCIATION FOR GUIDANCE AID PLACEMENT & EMPATHY PURPOSE: MORNING STAR DOMESTIC VIOLENCE PROGRAM | $10,000 |
CAMP SHILOH PURPOSE: CAMP COUNSELING SUPPORT STAFF | $15,000 |
CANCER RESEARCH INSTITUTE OF W TENNESSEE PURPOSE: GENERAL OPERATING FUND | $12,000 |
COMMUNITY ASSISTANCE CENTER PURPOSE: BACK PACK - SCHOOL SUPPLY PROGRAM | $10,000 |
COMMUNITY ASSISTANCE CENTER PURPOSE: HOLIDAY FOOD BOXES PROGRAM | $25,000 |