Babcox Family Foundation Inc
- Assets
- $6.3m
- Revenue
- $651.3k
- Investments
- $5.9m
- Employees
- 0
- Location
- Akron, OH
- Founding
- 02/1995
- Data as of
- 12/2021
- EIN
- 34-1787178
Organization Overview
Babcox Family Foundation Inc is located in Akron, OH. The organization was established in 1995. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Babcox Family 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 12/2021, Babcox Family Foundation Inc generated $651.3k 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 (24.4%) each year. All expenses for the organization totaled $369.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Babcox Family Foundation Inc has awarded 123 individual grants totaling $2,535,002. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Edward Babcox Trustee | 0 | $0 | |
Tom B Babcox Jr Trustee | 0 | $0 | |
Sarah Babcox Harrity Trustee | 0 | $0 | |
Lucy B Morris Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $198,588 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $452,674 |
| Capital Gain Net Income | $452,674 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $65 |
| Total Revenue | $651,327 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,286 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $200 |
| Total operating and administrative expenses | $31,822 |
| Contributions, gifts, grants paid | $338,000 |
| Total expenses and disbursements | $369,822 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $325,102 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $6,269,984 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Babcox Family Foundation Inc has awarded $338,000 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF MICHIGAN PURPOSE: DEPARTMENT OF NEUROLOGY FOR THE BECKY BABCOX ATAXIA CLINIC FUND | $45,000 |
STAN HYWET HALL & GARDENS PURPOSE: GREAT HALL CHANDELIER RESTORATION | $36,000 |
GRACE HOUSE PURPOSE: SUPPORT CONSTRUCTION COSTS; INCLUDING PREPARATION OF PROPERTY, FOUNDATION, WOOD FRAMING AND ROOFING,FOR INDIVIDUALS WITH TERMINAL ILLNESSES IN THE FINAL STAGES OF LIFE | $33,000 |
Akron, OH PURPOSE: EMERGENCY ROOF REPLACEMENT FOR THE ACCESS BUILDING | $30,000 |
ALZHEIMER'S ASSOCIATION GREATER EAST OHIO AREA CHAPTER PURPOSE: MEDICAL | $25,000 |
FAMILY PROMISE OF SUMMIT COUNTY PURPOSE: SUPPORT "SURVIVE TO THRIVE" INITIATIVE | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Longwood Gardens Inc Kennett Square, PA | $1,437,882,296 | $93,650,257 |
The Comcast Nbcuniversal Foundation Philadelphia, PA | $16,720,236 | $25,679,760 |
Herbert H & Grace A Dow Foundation Midland, MI | $575,608,768 | $36,767,282 |
Dte Energy Foundation Detroit, MI | $165,950,300 | $32,183,321 |
Progressive Insurance Foundation Cleveland, OH | $7,804,354 | $47,823,383 |
Arconic Charitable Foundation Pittsburgh, PA | $0 | $10,360,918 |
Brown-Forman Foundation Louisville, KY | $0 | $24,207,060 |
Alcoa Foundation Pittsburgh, PA | $146,938,296 | $5,082,676 |
Third Federal Foundation Cleveland, OH | $35,709,526 | $3,618,702 |
Gii Charities Grand Rapids, MI | $4,065,002 | $6,112,431 |
Star Foundation Bethlehem, PA | $0 | $17,247 |
Westfield Insurance Foundation Westfield Center, OH | $42,931,784 | $4,362,594 |