Brace Family Foundation Inc
- Assets
- $164.5k
- Revenue
- $200.3k
- Investments
- $142.9k
- Employees
- 0
- Location
- Waynesville, NC
- Founding
- 01/2015
- Data as of
- 12/2021
- EIN
- 47-1949515
Organization Overview
Brace Family Foundation Inc is located in Waynesville, NC. The organization was established in 2015. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Brace Family 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 12/2021, Brace Family Foundation Inc generated $200.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $108.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Brace Family Foundation Inc has awarded 19 individual grants totaling $330,949. 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
LATIN AMERICAN ASSOCIATION
AURORA THEATRE
NORCROSS COOPERATIVE
UNITED WAY OF HAYWOOD COUNTY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary L Brace President | 1 | $0 | |
Jessica L Brace Vice President | 1 | $0 | |
Derek W Brace Treasurer | 1 | $0 | |
Craig R Brace Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $105,075 |
| Interest on Savings | $1 |
| Dividends & Interest | $2,693 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $92,498 |
| Capital Gain Net Income | $92,498 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $200,267 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,570 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $446 |
| Total operating and administrative expenses | $2,016 |
| Contributions, gifts, grants paid | $106,049 |
| Total expenses and disbursements | $108,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,621 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $164,480 |
| 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, Brace Family Foundation Inc has awarded $106,049 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Lawrenceville, GA PURPOSE: CHARITABLE | $50,000 |
Norcross, GA PURPOSE: CHARITABLE | $40,000 |
Waynesville, NC PURPOSE: CHARITABLE | $10,000 |
LATIN AMERICAN ASSOCIATION PURPOSE: CHARITABLE | $2,500 |
Waynesville, NC PURPOSE: CHARITABLE | $2,500 |
GWINNETT COUNTY SCHOOLS PURPOSE: CHARITABLE | $1,049 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lettie Pate Whitehead Foundation Inc Atlanta, GA | $545,577,272 | $201,098,940 |
Claude Moore Charitable Foundation Fairfax, VA | $240,670,570 | $26,185,543 |
South Carolina Automobile Dealers Trust Columbia, SC | $615,773 | $12,853,378 |
Community Anti-Drug Coalitions Of America Alexandria, VA | $15,283,034 | $14,789,686 |
Willis And Reba Johnsons Foundation Franklin, TN | $17,058,167 | $2,077,347 |
James W And Frances Gibson Mcglothlin Foundation Bristol, VA | $55,479,136 | $5,807,937 |
John Rex Endowment Raleigh, NC | $72,005,406 | $10,264,844 |
Blake Family Foundation Inc Atlanta, GA | $54,641,915 | $13,537,530 |
St Marys United Methodist Church Foundation Inc Saint Marys, GA | $38,808,441 | $1,300,375 |
Nagrodsky Family Foundation Charleston, SC | $7,938,380 | $247,514 |
R Harold And Patsy Harrison Foundation Inc Brookhaven, GA | $31,730,871 | $2,128,634 |
National Association Of Chapter 13 Trustees Columbia, SC | $849,459 | $1,212,204 |