Clipper Petroleum Foundation Inc
- Assets
- $229.3k
- Revenue
- $167.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Flowery Branch, GA
- Founding
- 04/2013
- Data as of
- 12/2023
- EIN
- 46-1784703
Organization Overview
Clipper Petroleum Foundation Inc is located in Flowery Branch, GA. The organization was established in 2013. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clipper Petroleum 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, Clipper Petroleum Foundation Inc generated $167.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $9.4k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION PROVIDES GRANTS TO NON-PROFITS,PUBLIC SCHOOLS AND COMMUNITY OUTREACH PROJECTS. THE PURPOSE OF THESE GRANTS IS TO HELP SUPPORT NORTH GEORGIA COMMUNITIES SURROUNDING, AND INCLUDING, THE HALL COUNTY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS ARE MADE TO NON-PROFITS AND PUBLIC SCHOOLS BY THE ORGANIZATION. THE ORGANIZATION ACCEPTS GRANT APPLICATIONS FROM APRIL 15 UNTIL AUGUST 31. THE BOD REVIEWS ALL GRANT REQUESTS IN OCTOBER AND PRIMARILY ISSUES GRANT PAYMENTS IN NOVEMBER AND DECEMBER. THE PURPOSE OF THESE GRANTS IS TO HELP SUPPORT NORTH GEORGIA COMMUNITIES CLIPPER PETROLEUM OPERATES IN. SINCE 2013, CLIPPER PETROLEUM FOUNDATION HAS GIVEN OVER 500 GRANTS TO LOCAL SCHOOLS AND NON-PROFITS TOTALING OVER $1,050,204. GRANTS GIVEN IN 2023 ARE LISTED IN THIS RETURN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Haley Bower-Frank President | OfficerTrustee | 1 | $0 |
Tom Bower Past President | OfficerTrustee | 1 | $0 |
Maria Bower Vice President | OfficerTrustee | 1 | $0 |
Steve Hall Treasurer | OfficerTrustee | 1 | $0 |
Ed Hong Secretary | OfficerTrustee | 1 | $0 |
Caroline Filchak Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $119,402 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $63,293 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $182,695 |
| Total Program Service Revenue | $0 |
| Investment income | $352 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$15,168 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $167,879 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,000 |
| 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 | $1,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $128 |
| 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 | $481 |
| All other expenses | $99 |
| Total functional expenses | $9,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $229,291 |
| 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 | $229,291 |
| 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 | $229,291 |
| 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 | $229,291 |
Grants Awarded
Over the last fiscal year, Clipper Petroleum Foundation Inc has awarded $7,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NP3 PURPOSE: CHARACTER SCHOLARSHIPS. THE VISION OF NG3 IS TO FACILITATE CHARACTER DEVELOPMENT AND SMALL GROUP MENTORING IN LOCAL SCHOOLS. | $2,000 |
IN OUR BACKYARD PURPOSE: ASSIST WITH GENERAL OPERATIONS | $5,000 |