Suffolk Foundation
- Assets
- $11.0m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 6
- Location
- Suffolk, VA
- Founding
- 09/2007
- Data as of
- 12/2022
- EIN
- 20-5998525
Organization Overview
Suffolk Foundation is located in Suffolk, VA. The organization was established in 2007. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Suffolk Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Suffolk 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, Suffolk Foundation generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.9% each year . All expenses for the organization totaled $950.7k during the year ending 12/2022. While expenses have increased by 5.8% per year over the past 8 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, Suffolk Foundation has awarded 168 individual grants totaling $3,342,414. 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
THE MISSION OF THE SUFFOLK FOUNDATION IS TO FACILITATE AND DEVELOP PHILANTHROPY TO BENEFIT THE CITIZENS OF SUFFOLK AND THE SURROUNDING AREAS. OUR GRANTS TARGET HEALTH, EDUCATION, ARTS, CULTURE, THE ENVIRONMENT, ANIMAL WELFARE AND HUMAN NEEDS AND SERVICES. SINCE OUR FOUNDING IN 2006, WE'VE AWARDED OVER $6.8 MILLION IN GRANTS AND OVER $300,000 IN SCHOLARSHIPS BENEFITING SUFFOLK AND WESTERN TIDEWATER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022 THE FOUNDATION AWARDED $150,000 IN COMMUNITY IMPACT GRANTS TO 33 NONPROFIT ORGANIZATIONS SERVING SUFFOLK AND WESTERN TIDEWATER. IN ADDITION WE AWARDED $58,000 IN SCHOLARSHIPS TO LOCAL STUDENTS TO ASSIST THEM WITH COLLEGE EXPENSES. INCLUDING OUR WOMEN'S IMPACT FUND, OUR DESIGNATED FUNDS, AND ALL GRANTS AND SCHOLARSHIPS, THE SUFFOLK FOUNDATION SUPPORTED OUR COMMUNITY THROUGH $696,000 IN GRANTS AND EDUCATIONAL AWARDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Whitney Saunders Director | Trustee | 1 | $0 |
Thomas M Chamberlain Director | Trustee | 1 | $0 |
Deborah Russell Director | Trustee | 1 | $0 |
Harry Cross III Vice President | OfficerTrustee | 1 | $0 |
Dwight Schaubach Director | Trustee | 1 | $0 |
J Wayne Scott Treasurer | OfficerTrustee | 1 | $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 | $988,246 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $988,246 |
| Total Program Service Revenue | $0 |
| Investment income | $222,613 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $119,247 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,330,106 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $597,121 |
| Grants and other assistance to domestic individuals. | $58,362 |
| 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 | $103,158 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,502 |
| Payroll taxes | $7,807 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,107 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,400 |
| Advertising and promotion | $9,743 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,200 |
| 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 | $12,548 |
| Insurance | $6,820 |
| All other expenses | $11,089 |
| Total functional expenses | $950,723 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $589,775 |
| Savings and temporary cash investments | $10,322,677 |
| Pledges and grants receivable | $54,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $39,927 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,006,379 |
| Accounts payable and accrued expenses | $2,527 |
| 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 | $2,527 |
| Net assets without donor restrictions | $11,003,852 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $11,006,379 |
Grants Awarded
Over the last fiscal year, Suffolk Foundation has awarded $456,446 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
CHKD | | | $7,750 |
CHKD CHILD ADVOCACY CENTER | | | $8,000 |
EVMS FOUNDATION | | | $6,500 |
COALITION AGAINST POVERTY | | | $6,000 |
FORKIDS | | | $12,500 |
GLOBAL ACTION PLATFORM | | | $100,500 |