Poole Family Foundation
- Assets
- $1.4m
- Revenue
- $72.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Kinston, NC
- Founding
- 06/2007
- Data as of
- 12/2023
- EIN
- 20-8779110
Organization Overview
Poole Family Foundation is located in Kinston, NC. The organization was established in 2007. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Poole 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 12/2023, Poole Family Foundation generated $72.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $102.3k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Poole Family Foundation has awarded 20 individual grants totaling $318,350. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DISTRIBUTE SO MUCH OR ALL OF THE INCOME & PRINCIPAL FOR THE BENEFIT OF CHARITABLE, EDUCATIONAL, LITERARY OR SCIENTIFIC PURPOSES AS DEFINED IN CODE SECTION OF THE INTERNAL REVENUE CODE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter R Poole Jr President | 0 | $0 | |
J Gregory Poole Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $33,569 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $39,251 |
| Capital Gain Net Income | $29,495 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $72,820 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,681 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $28 |
| Total operating and administrative expenses | $23,496 |
| Contributions, gifts, grants paid | $78,850 |
| Total expenses and disbursements | $102,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,401,641 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,401,641 |
| Accounts payable and accrued expenses | $77,131 |
| 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 | $77,131 |
Grants Awarded
Over the last fiscal year, Poole Family Foundation has awarded $78,850 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
VARIOUS CHURCHES PURPOSE: RELIGIOUS | $17,500 |
EDUCATIONAL INSTITUTIONS PURPOSE: EDUCATIONAL | $25,500 |
LOCAL CHARITIES PURPOSE: LOCAL CHARITIES | $19,000 |
NATIONAL CHARITIES PURPOSE: NATIONAL CHARITIES | $10,000 |
OTHER CHARITIES PURPOSE: OTHER CHARITIES | $6,850 |