Bobby Labonte Foundation Inc
- Assets
- $8.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- High Point, NC
- Founding
- 01/2019
- Data as of
- 12/2023
- 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 12/2023, Bobby Labonte Foundation Inc generated $20.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (30.1%) each year. All expenses for the organization totaled $14.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (31.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
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 |
|---|---|---|---|
Cynthia Jarrell Director | 0.5 | $0 | |
Barbara Marshall Director | 0.5 | $0 | |
Kelli Mcdowel Director | 0.5 | $0 | |
Kristin Labonte Secretary | 1 | $0 | |
Robert A Labonte President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,411 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $20,411 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $870 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $275 |
| Total expenses | $14,145 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $8,126 |
| Other assets | $0 |
| Total assets | $8,126 |
| Total liabilities | $0 |
| Net assets or fund balances | $8,126 |
Grants Awarded
Over the last fiscal year, Bobby Labonte Foundation Inc has awarded $45,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BIG BROTHERS BIG SISTERS OF THE PIE PURPOSE: DONATION | $10,000 |
HIGH POINT LEAP PURPOSE: DONATION | $20,000 |
HIGH POINT SWIM CLUB | | | $15,000 |