Culp Family Foundation
- Assets
- $15.8m
- Revenue
- $833.7k
- Investments
- $15.4m
- Employees
- 0
- Location
- Mclean, VA
- Founding
- 01/2013
- Data as of
- 12/2021
- EIN
- 45-5394566
Organization Overview
Culp Family Foundation is located in Mclean, VA. The organization was established in 2013. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Culp Family Foundation 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, Culp Family Foundation generated $833.7k 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 (35.6%) each year. All expenses for the organization totaled $889.3k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Culp Family Foundation has awarded 50 individual grants totaling $7,981,350. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wendy H Culp Secretary | 1 | $0 | |
H Lawrence Culp Jr President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,200 |
| Interest on Savings | $74,416 |
| Dividends & Interest | $347,236 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $393,935 |
| Capital Gain Net Income | $393,935 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $9,887 |
| Total Revenue | $833,674 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $30,444 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $109,310 |
| Contributions, gifts, grants paid | $780,000 |
| Total expenses and disbursements | $889,310 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $347,562 |
| Savings and temporary cash investments | $0 |
| 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 | $5,722,913 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $15,761,300 |
| 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, Culp Family Foundation has awarded $780,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Mclean, VA PURPOSE: 2021 GRANT FOR GENERAL OPERATING | $450,000 |
Chestertown, MD PURPOSE: 2021 GRANT FOR GENERAL OPERATING | $100,000 |
Annapolis, MD PURPOSE: 2021 GRANT FOR GENERAL OPERATING | $100,000 |
THE ANIMAL SHELTER FOR KENT COUNTY PURPOSE: 2021 GRANT FOR GENERAL OPERATING | $80,000 |
Denton, MD PURPOSE: 2021 GRANT FOR GENERAL OPERATING | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
Msi-Us Washington, DC | $1,301,607 | $71,292,993 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
Bhp Foundation Washington, DC | $309,092,778 | $68,102,954 |
Wyss Medical Foundation Inc Washington, DC | $41,278,790 | $827,503 |
Service Coordination Inc Frederick, MD | $19,156,790 | $52,158,150 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
Bainum Family Foundation Bethesda, MD | $0 | $60,288,788 |