John Rex Endowment
- Assets
- $71.9m
- Revenue
- $5.7m
- Investments
- $67.9m
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 12/1999
- Data as of
- 12/2022
- EIN
- 31-1678223
Organization Overview
John Rex Endowment is located in Raleigh, NC. The organization was established in 1999. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. John Rex Endowment 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, John Rex Endowment generated $5.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $4.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, John Rex Endowment has awarded 574 individual grants totaling $48,142,892. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Leatherman Chair | 1 | $0 | |
Latasha Winstead Vice-Chair | 1 | $0 | |
Kate Simpson Treasurer | 1 | $0 | |
Heather Denny Secretary | 1 | $0 | |
Craig Croom Director | 1 | $0 | |
Libby George Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,430,464 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,085,022 |
| Capital Gain Net Income | $3,085,022 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $193,695 |
| Total Revenue | $5,709,181 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $226,393 |
| Other employee salaries and wages | $528,589 |
| Pension plans, employee benefits | $141,086 |
| Interest | $36,537 |
| Taxes | $123,387 |
| Depreciation | $44,417 |
| Occupancy | $4,987 |
| Travel, conferences, and meetings | $21,632 |
| Printing and publications | $1,764 |
| Other expenses | $60,035 |
| Total operating and administrative expenses | $1,917,544 |
| Contributions, gifts, grants paid | $2,684,899 |
| Total expenses and disbursements | $4,602,443 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,443,456 |
| Net Accounts receivable | $46,916 |
| 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 | $1,484,613 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $15,537 |
| Total assets | $71,869,064 |
| Accounts payable and accrued expenses | $58,143 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $421,909 |
| Other liabilities | $81,000 |
| Total liabilities | $561,052 |
Grants Awarded
Over the last fiscal year, John Rex Endowment has awarded $7,469,324 in support to 115 organizations.
| Grant Recipient | Amount |
|---|---|
WAKEMED HEALTH & HOSPITALS PURPOSE: WAKEMED PEDIATRICS LAUNCH+ | $278,575 |
EDUCATION JUSTICE ALLIANCE PURPOSE: BUILDING WITH BLACK AND BROWN FAMILIES TO CREATE CULTURALLY AFFIRMING LEARNING ENVIRONMENTS | $150,000 |
WAKE COUNTY SMARTSTART PURPOSE: THE KALEIDOSCOPE PROJECT EXPANSION II | $250,814 |
HAVEN HOUSE SERVICES PURPOSE: JUVENILE JUSTICE AND BEHAVIORAL HEALTH TRANSFORMATION IMPLEMENTATION | $107,805 |
COMMUNITY MUSIC SCHOOL PURPOSE: COMMUNITY MUSIC SCHOOL MARKETING AND BRANDING INITIATIVE AND STRATEGIC PLANNING | $80,000 |
EAST WAKE EDUCATION FOUNDATION PURPOSE: F.A.C.E.S. SECOND GRANT | $80,000 |