Beckley Area Foundation Inc
- Assets
- $74.0m
- Revenue
- $9.8m
- Investments
- $0.0
- Employees
- 6
- Location
- Beckley, WV
- Founding
- 01/1985
- Data as of
- 03/2024
- EIN
- 31-1125328
Organization Overview
Beckley Area Foundation Inc is located in Beckley, WV. The organization was established in 1985. 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 03/2024, Beckley Area Foundation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beckley Area Foundation Inc 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 03/2024, Beckley Area Foundation Inc generated $9.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $2.3m during the year ending 03/2024. While expenses have increased by 5.6% per year over the past 9 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 2016, Beckley Area Foundation Inc has awarded 399 individual grants totaling $5,577,011. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE AND FACILITATE GENEROUS CHARITABLE GIVING THAT ADVANCES OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY BENEFIT PROJECTS AND GRANTS FROM THE FOUNDATION'S UNRESTRICTED FUNDS.
SCHOLARSHIPS GRANTED THROUGH A COMPETITIVE PROCESS PURSUANT TO ESTABLISHED ELIGIBILITY REQUIREMENTS AND ACHIEVEMENT CRITERIA, WITHOUT REGARD TO RACE, SEX OR CREED.
GRANTMAKING FROM ALL OTHER RESTRICTED FUNDS, INCLUDING DONOR ADVISED FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Ramsden President | OfficerTrustee | 1 | $0 |
Jereme Evans Vice President | OfficerTrustee | 1 | $0 |
Ann Worley Secretary | OfficerTrustee | 1 | $0 |
Sabrina Triplett Treasurer | OfficerTrustee | 1 | $0 |
Steven Ballard Director | Trustee | 1 | $0 |
John Beasley Director | Trustee | 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 | $5,771,372 |
| Noncash contributions included in lines 1a–1f | $3,250,432 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,771,372 |
| Total Program Service Revenue | $0 |
| Investment income | $1,732,677 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,264,023 |
| Net Income from Fundraising Events | -$1,899 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,766,173 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,656,780 |
| 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. | $208,592 |
| Compensation of current officers, directors, key employees. | $199,351 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $94,884 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,969 |
| Payroll taxes | $23,476 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $164,724 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,842 |
| Office expenses | $12,041 |
| Information technology | $41,280 |
| Royalties | $0 |
| Occupancy | $12,437 |
| Travel | $229 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,408 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,167 |
| Insurance | $9,272 |
| All other expenses | $11,633 |
| Total functional expenses | $2,300,697 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $196,741 |
| Savings and temporary cash investments | $852,643 |
| 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 | $22,452 |
| Net Land, buildings, and equipment | $564,902 |
| Investments—publicly traded securities | $72,153,647 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $232,728 |
| Total assets | $74,023,113 |
| Accounts payable and accrued expenses | $6,828 |
| Grants payable | $11,225 |
| 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 | $18,053 |
| Net assets without donor restrictions | $10,995,218 |
| Net assets with donor restrictions | $63,009,842 |
| 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 | $74,023,113 |
Grants Awarded
Over the last fiscal year, Beckley Area Foundation Inc has awarded $745,736 in support to 42 organizations.
| Grant Recipient | Amount |
|---|---|
APPALACHIAN BIBLE COLLEGE PURPOSE: ANNUAL DISTRIBUTION | $7,554 |
AMERICAN RED CROSS PURPOSE: PROGRAM SUPPORT | $8,178 |
AWAY PURPOSE: ANNUAL DISTRIBUTION | $33,908 |
APPALACHIAN READING CENTER INC PURPOSE: PROGRAM SUPPORT | $6,621 |
BEAVER VOLUNTEER FIRE DEPARTMENT INC PURPOSE: SAFETY EQUIPMENT | $7,000 |
BECKLEY CONCERT ASSOCIATION PURPOSE: ANNUAL DISTRIBUTION | $14,106 |