Lettie Pate Evans Foundation Inc Trustee Of The Restricted Fund Uw
- Assets
- $3.9b
- Revenue
- $442.7m
- Investments
- $2.7b
- Employees
- 14
- Location
- Atlanta, GA
- Founding
- 04/1973
- Data as of
- 12/2021
- EIN
- 23-7282939
Organization Overview
Lettie Pate Evans Foundation Inc Trustee Of The Restricted Fund Uw is located in Atlanta, GA. The organization was established in 1973. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Lettie Pate Evans Foundation Inc Trustee Of The Restricted Fund Uw employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lettie Pate Evans Foundation Inc Trustee Of The Restricted Fund Uw 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, Lettie Pate Evans Foundation Inc Trustee Of The Restricted Fund Uw generated $442.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $111.1m during the year ending 12/2021. While expenses have increased by 4.0% per year over the past 7 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 2020, Lettie Pate Evans Foundation Inc Trustee Of The Restricted Fund Uw has awarded 36 individual grants totaling $317,995,397. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE TO CERTAIN NAMED BENEFICIARIES ANNUAL MONETARY SUPPORT DESIGNATED BY AMOUNT OR PERCENTAGE IN THE WILL OF LETTIE PATE EVANS, DECEASED. TO DATE, BENEFICIARIES OF THE LETTIE PATE EVANS RESTRICTED FUND HAVE COLLECTIVELY RECEIVED MORE THAN $1.6 BILLION IN DISTRIBUTIONS SINCE THE FUND'S INCEPTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS FOR EDUCATION. GRANTS WERE AWARDED TO EIGHT SCHOOLS IN GEORGIA AND VIRGINIA ACCORDING TO THE TERMS OF THE WILL THAT CREATED THE RESTRICTED FUND, INCLUDING BERRY COLLEGE, EMORY UNIVERSITY, EPISCOPAL HIGH SCHOOL IN VIRGINIA, GEORGIA INSTITUTE OF TECHNOLOGY, PROTESTANT EPISCOPAL THEOLOGICAL SEMINARY, TALLULAH FALLS SCHOOL, WASHINGTON AND LEE UNIVERSITY AND THE COLLEGE OF WILLIAM AND MARY. FUNDS RECEIVED BY EMORY UNIVERSITY ARE USED TO MAINTAIN A SURGICAL PAVILION AT EMORY HOSPITAL. THE GOVERNING BOARDS OF THE OTHER RECIPIENT SCHOOLS HAVE FULL DISCRETION TO ALLOCATE GRANT FUNDS.
GRANTS FOR HEALTH. GRANTS WERE AWARDED TO CHILDREN'S HEALTHCARE OF ATLANTA AND BATH COUNTY COMMUNITY HOSPITAL IN HOT SPRINGS, VIRGINIA ACCORDING TO THE TERMS OF THE WILL THAT CREATED THE RESTRICTED FUND. THE GOVERNING BOARDS OF THOSE HOSPITALS HAVE FULL DISCRETION TO ALLOCATE GRANT FUNDS.
GRANTS FOR CULTURAL ACTIVITIES. GRANTS WERE AWARDED TO THE VIRGINIA MUSEUM OF FINE ARTS AND THE TRUSTEES OF OLD CUSTOMS HOUSE IN YORKTOWN, VIRGINIA ACCORDING TO THE TERMS OF THE WILL THAT CREATED THE RESTRICTED FUND. THE GOVERNING BOARDS OF THOSE INSTITUTIONS HAVE FULL DISCRETION TO ALLOCATE GRANT FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
P Russell Hardin President | Officer | 11 | $155,549 |
Erik S Johnson Secretary & Vice President | Officer | 11 | $86,159 |
Eli P Niepoky Treasurer | Officer | 11 | $50,928 |
Elizabeth A Smith Grants Program Director | 11 | $49,683 | |
Sarah Tablan Controller | 11 | $42,620 | |
Carrie D Conway Senior Program Officer | 11 | $34,749 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parametric Investment Manager | 12/30/21 | $1,009,749 |
Truist Investment Advisor | 12/30/21 | $369,797 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $111,084,652 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $331,659,681 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $442,744,333 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $108,746,536 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $430,799 |
| Compensation of current officers, directors, key employees. | $187,853 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $249,426 |
| Pension plan accruals and contributions | $36,615 |
| Other employee benefits | $59,214 |
| Payroll taxes | $28,070 |
| Fees for services: Management | $9,400 |
| Fees for services: Legal | $973 |
| Fees for services: Accounting | $20,680 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,379,545 |
| Fees for services: Other | $1,770 |
| Advertising and promotion | $0 |
| Office expenses | $6,635 |
| Information technology | $19,582 |
| Royalties | $0 |
| Occupancy | $64,813 |
| Travel | $2,387 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,822 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,262 |
| Insurance | $9,294 |
| All other expenses | $307 |
| Total functional expenses | $111,084,652 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,843 |
| Savings and temporary cash investments | $844,264 |
| Pledges and grants receivable | $0 |
| 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 | $10,522 |
| Investments—publicly traded securities | $1,236,191,778 |
| Investments—other securities | $2,685,030,034 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $292,278 |
| Total assets | $3,922,374,719 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $24,737,236 |
| 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 | $284,226 |
| Total liabilities | $25,021,462 |
| Net assets without donor restrictions | $3,889,391,491 |
| Net assets with donor restrictions | $7,961,766 |
| 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 | $3,922,374,719 |
Grants Awarded
Over the last fiscal year, Lettie Pate Evans Foundation Inc Trustee Of The Restricted Fund Uw has awarded $108,743,237 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
Mount Berry, GA PURPOSE: General support | $21,747,447 |
Lexington, VA PURPOSE: General support | $16,310,585 |
Atlanta, GA PURPOSE: General support | $16,310,585 |
Alexandria, VA PURPOSE: General support | $10,873,724 |
Tallulah Falls, GA PURPOSE: General support | $10,873,724 |
Atlanta, GA PURPOSE: Toward the Whitehead Surgical Pavilion and other general support | $5,436,862 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lettie Pate Evans Foundation Inc Trustee Of The Restricted Fund Uw Atlanta, GA | $3,922,374,719 | $442,744,333 |
Virginia Bankers Association Group Benefits Trust Orlando, FL | $33,617,508 | $79,896,107 |
Lettie Pate Whitehead Foundation Inc Atlanta, GA | $545,577,272 | $201,098,940 |
Mitchell Wolfson Sr Foundation Miami, FL | $245,881,118 | $51,380,734 |
Sudco Inc & Affiliates Voluntary Empl Beneficiary Association Tr Jacksonville, FL | $1,629,809 | $12,527,671 |
Lucille S Beeson Charitable Remainder 66 1055001761 Birmingham, AL | $200,434,362 | $15,901,903 |
South Carolina Automobile Dealers Trust Columbia, SC | $615,773 | $12,853,378 |
Walter R Ferguson Charitable Foundation Charitable Foundation Fort Lauderdale, FL | $0 | $613,063 |
Willis And Reba Johnsons Foundation Franklin, TN | $17,058,167 | $2,077,347 |
Telford Foundation Inc Naples, FL | $77,208,801 | $5,161,589 |
John Rex Endowment Raleigh, NC | $72,005,406 | $10,264,844 |
Wanda And James M Moran Jr Foundation Inc Deerfield Beach, FL | $6,609,461 | $5,004,559 |