Shumard Foundation Inc
- Assets
- $18.9m
- Revenue
- $808.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 09/2007
- Data as of
- 12/2021
- 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 12/2021, Shumard Foundation Inc generated $808.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.1%) each year. All expenses for the organization totaled $3.4m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Shumard Foundation Inc has awarded 415 individual grants totaling $13,358,828. 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
2021
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 |
Dale Armstrong Trustee | Trustee | 0.5 | $0 |
Joel Reed 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 | $45,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,500 |
| Total Program Service Revenue | $0 |
| Investment income | $2,042,821 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,280,027 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $808,294 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,388,034 |
| 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 | $9,526 |
| Fees for services: Accounting | $4,793 |
| 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 | $0 |
| Total functional expenses | $3,404,141 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,547,438 |
| 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 | $11,203,308 |
| 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 | $6,119,618 |
| Total assets | $18,870,364 |
| 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 | $18,870,364 |
| Total liabilities and net assets/fund balances | $18,870,364 |
Grants Awarded
Over the last fiscal year, Shumard Foundation Inc has awarded $3,337,434 in support to 42 organizations.
| Grant Recipient | Amount |
|---|---|
Nashville, TN PURPOSE: LIPSCOMB LEADS CAMPAIGN | $2,000,000 |
Nashville, TN PURPOSE: SCHOLARSHIPS | $235,800 |
Overland Park, KS PURPOSE: THE KMS FUND | $200,000 |
OHIO VALLEY UNIVERSITY PURPOSE: TO PAY OFF EXISTING LOAN FROM THE SHUMARD FOUNDATIOND DATED 6/18/2010 | $152,034 |
Overland Park, KS PURPOSE: THE G3 SHUMARD GIVING FUND | $62,000 |
Nashville, TN PURPOSE: LIPSCOMB MENTORING NETWORK | $61,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Enterprise Florida Inc Orlando, FL | $124,862,857 | $26,160,378 |
Florida Strawberry Patent Service Corporation Dover, FL | $2,284,468 | $8,232,552 |
Waccamaw Community Foundation Inc Murrells Inlet, SC | $30,138,658 | $6,245,346 |
Shumard Foundation Inc Atlanta, GA | $18,870,364 | $808,294 |
Greenville Area Development Corporation Greenville, SC | $4,479,595 | $2,418,141 |
Wake Forest Innovation Quarter Management Co Winstonsalem, NC | $76,176 | $0 |
Sc Launch Inc Columbia, SC | $12,983,051 | $2,975,171 |
Poplar Springs Fire Service Area Moore, SC | $4,360,898 | $2,218,008 |
Community Foundation Of Cleveland & Bradley County Inc Cleveland, TN | $9,651,879 | $2,298,313 |
Society Of Women Engineers Endowment Fund Inc Sanford, NC | $12,880,425 | $978,863 |
Georgia Transportation Alliance Inc Atlanta, GA | $275,023 | $553,290 |
Csra Property Holding 2 Inc Augusta, GA | $0 | $95,187 |