Babcock Family Foundation
- Assets
- $2.2m
- Revenue
- $76.1k
- Investments
- $2.0m
- Employees
- 0
- Location
- Sherrills Ford, NC
- Founding
- 08/2006
- Data as of
- 12/2022
- EIN
- 20-5272437
Organization Overview
Babcock Family Foundation is located in Sherrills Ford, NC. 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. Babcock 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, Babcock Family Foundation generated $76.1k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $158.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (10.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Babcock Family Foundation has awarded 133 individual grants totaling $1,428,346. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDED GRANTS TO CHARITIES TO FURTHER CHILDREN AND YOUTH PROGRAMS AND EDUCATION, AS WELL AS SPIRITUAL GROWTH OF RELIGIOUS INSTITUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward E Babcock Jr Trustee | 1 | $0 | |
Rosemary Babcock Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $76,118 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $12,848 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $76,118 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,925 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $203 |
| Total operating and administrative expenses | $6,836 |
| Contributions, gifts, grants paid | $151,954 |
| Total expenses and disbursements | $158,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $143,517 |
| 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 | $1,937,675 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,185,461 |
| 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, Babcock Family Foundation has awarded $151,954 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
PENN STATE UNIVERSITY PURPOSE: SCHOLARSHIP | $35,000 |
STATE COLLEGE ALLIANCE CHURCH PURPOSE: FURTHER PROGRAMS | $11,000 |
CAMPUS CRUSADE FOR CHRIST INTERNATIONAL PURPOSE: FURTHER PROGRAMS | $0 |
NITTANY CHRISTIAN SCHOOL PURPOSE: FUTHER PROGRAMS | $0 |
THE CROSSING PURPOSE: BUILDING CAMPAIGN | $5,000 |
INDIANA UNIVERSITY OF PA PURPOSE: SCHOLARSHIPS | $0 |