Tearte Family Foundation
- Assets
- $941.2k
- Revenue
- $119.5k
- Investments
- $925.5k
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 02/2014
- Data as of
- 12/2023
- EIN
- 46-6128683
Organization Overview
Tearte Family Foundation is located in Charlotte, NC. The organization was established in 2014. 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. Tearte 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 12/2023, Tearte Family Foundation generated $119.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $154.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Tearte Family Foundation has awarded 104 individual grants totaling $321,367. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT TO BRANDEIS UNIVERSITY TO ADVANCE EDUCATION FOR LESS PRIVLEDGED. GRANT MAKING TO OTHER CHARITABLE ORGANIZATIONS
NYU GRANTS TO ADVANCE EDUCATION TO MINORITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis Tearte President | 30 | $0 | |
Jylia M Tearte Vice Preside | 30 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $129 |
| Dividends & Interest | $45,451 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$46,270 |
| Capital Gain Net Income | $4,846 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $120,140 |
| Total Revenue | $119,450 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $909 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $11,679 |
| Total operating and administrative expenses | $97,588 |
| Contributions, gifts, grants paid | $56,507 |
| Total expenses and disbursements | $154,095 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,738 |
| 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 | $925,458 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $941,196 |
| 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, Tearte Family Foundation has awarded $51,507 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN FRIENDS OF ALYN HOSPITAL PURPOSE: EDUCATION | $257 |
BARBER-SCOTIA COLLEGE PURPOSE: EDUCATION | $1,000 |
BRANDEIS UNIVERSITY PURPOSE: EDUCATION | $10,000 |
DREXEL UNIVERSITY PURPOSE: EDUCATION | $1,000 |
HOWARD UNIVERSITY PURPOSE: EDUCATION | $1,000 |
KENNESAW STATE UNIV PURPOSE: EDUCATION | $2,500 |