Ware Foundation
- Assets
- $16.7m
- Revenue
- $551.6k
- Investments
- $16.2m
- Employees
- 0
- Location
- Madison, MS
- Founding
- 06/1973
- Data as of
- 12/2022
- EIN
- 23-7286585
Organization Overview
Ware Foundation is located in Madison, MS. The organization was established in 1973. 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. Ware 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, Ware Foundation generated $551.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Ware Foundation has awarded 407 individual grants totaling $10,934,051. 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 |
|---|---|---|---|
Morgan Ware Soumah Vice Preside | 0 | $99,600 | |
Elizabeth Eason President | 0 | $99,600 | |
John Edwards Secretary/tr | 0 | $99,600 | |
James Odom Trustee | 0 | $36,737 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $49,080 |
| Dividends & Interest | $223,744 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $278,780 |
| Capital Gain Net Income | $278,780 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $551,604 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $335,537 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $1,856 |
| Interest | $0 |
| Taxes | $33,632 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $123,076 |
| Total operating and administrative expenses | $607,047 |
| Contributions, gifts, grants paid | $719,709 |
| Total expenses and disbursements | $1,326,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500,307 |
| 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 | $2,609,678 |
| Net Land, buildings, and equipment | $9,595 |
| Other assets | $0 |
| Total assets | $16,716,675 |
| 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 | $500 |
| Total liabilities | $500 |
Grants Awarded
Over the last fiscal year, Ware Foundation has awarded $719,709 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOCIATION - GO RED PURPOSE: 2022 DONATION | $2,000 |
BARRY UNIVERSITY PURPOSE: 2022 DONATION | $25,000 |
CANOPY CHILDRENS SOLUTIONS PURPOSE: 2022 DONATION | $100,000 |
CAMPUS MISSIONS INTERNATIONAL PURPOSE: 2022 DONATION | $20,000 |
EAST MINISTER PREBYTERIAN CHURCH PURPOSE: 2022 DONATION | $1,000 |
EXODUS FARMS PURPOSE: 2022 DONATION | $6,000 |