Faraja Fund Foundation
- Assets
- $1.2m
- Revenue
- $559.5k
- Investments
- $1.0m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 07/2007
- Data as of
- 12/2021
- EIN
- 20-5954310
Organization Overview
Faraja Fund Foundation is located in Charlotte, NC. 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. Faraja Fund 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 12/2021, Faraja Fund Foundation generated $559.5k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $334.1k during the year ending 12/2021. While expenses have increased by 2.1% per year over the past 5 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David M Tolmie Chairman | 10 | $0 | |
Debbie Swanson Director | 0 | $0 | |
John K Tolmie Vice President | 10 | $0 | |
Curt Viebranz Director | 0 | $0 | |
David Vermylen Vice President | 5 | $0 | |
Joann S Tolmie Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $512,206 |
| Interest on Savings | $0 |
| Dividends & Interest | $33,798 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $13,507 |
| Capital Gain Net Income | $13,507 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $559,511 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,290 |
| Printing and publications | $1,563 |
| Other expenses | $46,802 |
| Total operating and administrative expenses | $106,312 |
| Contributions, gifts, grants paid | $227,825 |
| Total expenses and disbursements | $334,137 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $142,310 |
| Savings and temporary cash investments | $57,268 |
| 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 | $1,033,008 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,232,586 |
| 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, Faraja Fund Foundation has awarded $257,075 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FARAJA DIACONIC CENTER PURPOSE: GRANTS USED BY GRANTEE TO SUPPORT OPERATIONS OF FARAJA RESIDENTIAL SCHOOL FOR CHILDREN WITH PHYSICAL DISABILITIES, SANYA JUU, TANZANIA | $232,075 |
USA RIVER REHABILITATION CENTER PURPOSE: GRANT USED TO CONSTRUCT SCIENCE LAB FOR USE BY STUDENTS | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Faraja Fund Foundation has recieved totaling $24,150.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $11,400 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: EDUCATION | $8,000 |
Gregg & Kristin Ostrander Charitable Trust Minneapolis, MN PURPOSE: OPERATING SUPPORT | $4,500 |
Robert G Shaw Family Foundation Lake Forest, IL PURPOSE: UNRESTRICTED | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
The Murray & Sydell Rosenberg Foundation Inc Atlanta, GA | $5,561,714 | $74,985,544 |
Joseph B Whitehead Foundation Atlanta, GA | $148,285,590 | $58,163,845 |
Winshape Foundation Inc Atlanta, GA | $1,733,664,901 | $22,099,572 |
A Good Name Foundation Inc Atlanta, GA | $709,299,721 | $33,917,740 |
Jane Woodruff Foundation Inc Atlanta, GA | $0 | $54,999,988 |
Ups Foundation Inc Atlanta, GA | $8,317,427 | $54,799,163 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |