Bobby Labonte Foundation Inc
- Assets
- $2.6k
- Revenue
- $103.6k
- Investments
- $0.0
- Employees
- 0
- Location
- High Point, NC
- Founding
- 01/2019
- Data as of
- 12/2021
- EIN
- 36-4898697
Organization Overview
Bobby Labonte Foundation Inc is located in High Point, NC. The organization was established in 2019. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bobby Labonte 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, Bobby Labonte Foundation Inc generated $103.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (12.2%) each year. All expenses for the organization totaled $112.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT CHARITIES THROUGHOUT NORTH CAROLINA WHO PROVIDE HELP TO FAMILIES AND CHILDREN IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT CHARITIES THROUGHOUT NORTH CAROLINA WHO PROVIDE HELP TO FAMILIES AND CHILDREN IN NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert A Labonte President | Officer | $0 | |
Kristin Labonte Secretary | Officer | $0 | |
Barbara Marshall Director | Trustee | $0 | |
Cynthia Jarrell Director | Trustee | $0 | |
Kelli Mcdowel Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $103,610 |
| 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 | $103,610 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $103,610 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,500 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $70,958 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $112,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,572 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,572 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $2,572 |
| Net assets with donor restrictions | $0 |
| 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 | $2,572 |
Grants Awarded
Over the last fiscal year, Bobby Labonte Foundation Inc has awarded $45,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HIGH POINT LEAP PURPOSE: DONATION | $20,000 |
High Point, NC | | $15,000 |
BIG BROTHERS BIG SISTERS OF THE PIE PURPOSE: DONATION | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bobby Labonte Foundation Inc has recieved totaling $9,000.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $9,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Act For Alexandria Alexandria, VA | $25,524,079 | $7,617,741 |
Church Mouse Thrift Shop Inc Hilton Head Island, SC | $1,034,528 | $1,945,789 |
Memphis Land Bank Inc Memphis, TN | $18,817,383 | $908,597 |
Nccco Foundation Inc Fairfax, VA | $88,363 | $507,000 |
Charlotte Regional Realtor Assoc Housing Opportunity Foundati Charlotte, NC | $2,010,464 | $461,132 |
Downtown Kingsport Association Inc Kingsport, TN | $120,764 | $158,092 |
John Paul I Knights Of Columbus Charity Corporation Dale City, VA | $1,756,121 | $117,760 |
Prince William County Community Foundation Woodbridge, VA | $111,338 | $0 |
Oak Ridge Rotary Community Fund Oak Ridge, TN | $26,782 | $13,113 |
Advance Dekalb Inc Decatur, GA | $567,062 | $234,100 |
One Family Productions Stuart, VA | $72,107 | $0 |
Charlotte Regional Business Alliance Foundation Charlotte, NC | $444,959 | $302,692 |