Beemok Family Foundation
- Assets
- $51.8m
- Revenue
- $227.5k
- Investments
- $3.5m
- Employees
- 0
- Location
- Charleston, SC
- Founding
- 11/2014
- Data as of
- 12/2021
- EIN
- 46-5382571
Organization Overview
Beemok Family Foundation is located in Charleston, SC. The organization was established in 2014. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Beemok 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, Beemok Family Foundation generated $227.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $8.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Beemok Family Foundation has awarded 46 individual grants totaling $44,002,081. 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
THE MEETING STREET SCHOLARSHIP FUND (MSSF) EMPOWERS EACH ELIGIBLE STUDENT IN CHARLESTON COUNTY, SOUTH CAROLINA WITH A COLLEGE SCHOLARSHIP OF UP TO $10,000 PER YEAR (UP TO $40,000 IN TOTAL.) IN ITS INAUGURAL YEAR, THE PROGRAM SERVED PUBLIC SCHOOL STUDENTS LIVING IN CHARLESTON COUNTY WHO MET SIMPLE ACADEMIC PERFORMANCE AND FINANCIAL NEED CRITERIA, AND ENROLLED TO ATTEND ONE OF SOUTH CAROLINA'S BEST COLLEGES. THE FOUNDATION MAINTAINS SIGNIFICANT INVOLVEMENT WITH MSSF RECIPIENTS BY PROVIDING ONGOING RESOURCES THEY NEED TO GRADUATE FROM COLLEGE AND ENTER THE WORKFORCE. THE FOUNDATION CONDUCTS PRESENTATIONS, WORKSHOPS, AND PANEL DISCUSSIONS FOR MSSF RECIPIENTS AT THE ANNUAL MSSF AWARD CELEBRATION AND AT OTHER TIMES THROUGHOUT THE YEAR. SESSIONS INCLUDE AN INTRODUCTION TO AND ADVICE FROM PROMINENT BUSINESS AND CIVIC LEADERS IN THE COMMUNITY AND NETWORKING WITH PEERS AND ADMINISTRATORS SPECIFIC TO THE COLLEGE CAMPUS THEY WILL ATTEND. CONTINUED ON STATEMENT 16.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin W Navarro Trustee/chairperson | 0.25 | $0 | |
Isaac Gruber General Counsel | 1.8 | $0 | |
Abigail Knab Cfo/treasurer | 1.2 | $0 | |
Kelly K Navarro Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Christopher N Ruszkowski | 12/30/21 | $114,368 |
Cravath Swaine & Moore Llp | 12/30/21 | $104,731 |
Obviouslee Marketing Llc | 12/30/21 | $71,321 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $40,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $187,490 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $227,490 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,814 |
| Depreciation | $0 |
| Occupancy | $32,469 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $147,884 |
| Total operating and administrative expenses | $436,022 |
| Contributions, gifts, grants paid | $8,117,930 |
| Total expenses and disbursements | $8,553,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $329,532 |
| Savings and temporary cash investments | $47,853,020 |
| 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 | $80,000 |
| Other assets | $0 |
| Total assets | $51,753,352 |
| Accounts payable and accrued expenses | $2,435 |
| 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 | $2,435 |
Grants Awarded
Over the last fiscal year, Beemok Family Foundation has awarded $8,117,930 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
Charleston, SC PURPOSE: SCHOOL OPERATIONS | $4,500,000 |
MODERN MINDS PURPOSE: CLINIC OPERATIONS | $1,900,000 |
AYCO CHARITABLE FOUNDATION PURPOSE: EDUCATION | $600,000 |
Charleston, SC PURPOSE: SCHOOL OF HUMANITIES AND SOCIAL SCIENCES | $250,000 |
COASTAL COMMUNITY FOUNDATION PURPOSE: EDUCATION | $220,000 |
VIRGINIA ATHLETICS FOUNDATION PURPOSE: CAPITAL IMPROVEMENTS | $205,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Amity Medical Group Inc Charlotte, NC | $3,300,228 | $10,911,191 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Beemok Family Foundation Charleston, SC | $51,753,352 | $227,490 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
Laura Holland Uzzell Foundation Morrisville, NC | $14,769,987 | $6,660,101 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
University Of West Georgia Foundation Inc Carrollton, GA | $86,140,941 | $10,389,838 |
South Carolina Educational Credit For Exceptional Needs Children Fun Columbia, SC | $1,181,238 | $5,546,279 |