Plough Foundation
- Assets
- $29.1m
- Revenue
- $7.6m
- Investments
- $27.0m
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 10/1973
- Data as of
- 12/2021
- EIN
- 23-7175983
Organization Overview
Plough Foundation is located in Memphis, TN. The organization was established in 1973. 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. Plough 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, Plough Foundation generated $7.6m 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 (7.4%) each year. All expenses for the organization totaled $20.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Plough Foundation has awarded 459 individual grants totaling $186,149,754. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Wallace COO & CFO | 40 | $257,427 | |
Truist Aka Suntrust Bank Trustee | 1 | $65,252 | |
Diane Rudner Chairman/trustee | 20 | $0 | |
Eugene Callahan Trustee | 1 | $0 | |
Johnny Moore Jr Trustee | 1 | $0 | |
Peter Pettit Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Highland Capital Management Corp | 12/30/21 | $274,936 |
Southeastern Asset Management | 12/30/21 | $79,897 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $225,474 |
| Dividends & Interest | $765,099 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,614,364 |
| Capital Gain Net Income | $6,614,364 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,604,937 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $322,679 |
| Other employee salaries and wages | $184,145 |
| Pension plans, employee benefits | $124,687 |
| Interest | $0 |
| Taxes | $71,513 |
| Depreciation | $4,353 |
| Occupancy | $107,041 |
| Travel, conferences, and meetings | $4,331 |
| Printing and publications | $0 |
| Other expenses | $32,677 |
| Total operating and administrative expenses | $1,239,754 |
| Contributions, gifts, grants paid | $19,286,372 |
| Total expenses and disbursements | $20,526,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $274,938 |
| Savings and temporary cash investments | $1,795,705 |
| 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 | $5,405 |
| Other assets | $6,500 |
| Total assets | $29,124,366 |
| Accounts payable and accrued expenses | $20,130,816 |
| 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 | $20,130,816 |
Grants Awarded
Over the last fiscal year, Plough Foundation has awarded $28,836,372 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
TEMPLE ISRAEL PURPOSE: PROGRAM SUPPORT | $4,000,000 |
MEMPHIS JEWISH FEDERATION PURPOSE: PROGRAM SUPPORT | $3,000,000 |
Memphis, TN PURPOSE: PROGRAM SUPPORT | $2,500,000 |
Memphis, TN PURPOSE: PROGRAM SUPPORT | $2,500,000 |
Memphis, TN PURPOSE: PROGRAM SUPPORT | $2,500,000 |
Memphis, TN PURPOSE: PROGRAM SUPPORT | $2,500,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Plough Foundation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Crews Family Foundation Collierville, TN PURPOSE: GENERAL - OPERATING | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John Bulow Campbell Foundation Atlanta, GA | $793,659,742 | $103,345,098 |
The Rosser Foundation A Pure Charitable Trust And Public Charit Hampton, VA | $12,195,900 | $36,359,396 |
Jesus Fund Little Rock, AR | $476,522,715 | $128,635,887 |
James S Mcdonnell Foundation St Louis, MO | $496,119,714 | $80,243,658 |
Patterson Family Foundation Kansas City, MO | $1,526,002,008 | $1,174,628,172 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
Builders Initiative Bentonville, AR | $992,945,696 | $530,265,880 |
John M Belk Endowment Charlotte, NC | $344,527,989 | $19,824,991 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
Paula And Rodger Riney Foundation St Louis, MO | $118,536,395 | $1,770,419 |
The Henry W Grady Health System Foundation Inc Atlanta, GA | $41,862,389 | $12,481,516 |