Joel And Rachel Bomgar Foundation
- Assets
- $764.8k
- Revenue
- $194.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, MS
- Founding
- 03/2015
- Data as of
- 12/2022
- EIN
- 47-2367603
Organization Overview
Joel And Rachel Bomgar Foundation is located in Madison, MS. The organization was established in 2015. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Joel And Rachel Bomgar 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 12/2022, Joel And Rachel Bomgar Foundation generated $194.0k 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 (21.5%) each year. All expenses for the organization totaled $210.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Joel And Rachel Bomgar Foundation has awarded 85 individual grants totaling $1,897,758. 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 |
|---|---|---|---|
Joel Bomgar Chairman And Director | 8 | $0 | |
Rachel Bomgar Director | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $110 |
| Dividends & Interest | $14,647 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $179,281 |
| Capital Gain Net Income | $179,281 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $194,038 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,764 |
| Total operating and administrative expenses | $11,720 |
| Contributions, gifts, grants paid | $198,500 |
| Total expenses and disbursements | $210,220 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $401,648 |
| 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 | $363,125 |
| Total assets | $764,773 |
| 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, Joel And Rachel Bomgar Foundation has awarded $198,500 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
ACTIVE IMPACT INTERNATIONAL PURPOSE: THE CONTRIBUTION WAS MADE TO ASSIST THE ORGANIZATION IN ITS MISSION TO ACTIVELY IMPACT AND REACH THE WORLD FOR CHRIST. | $19,000 |
AFRICAN CHRISTIAN TRAINING INSTITUTE PURPOSE: THE CONTRIBUTION WAS MADE TO ASSIST THE ORGANIZATION IN SUPPORTING THE WORD AND DEED MINISTRY. | $8,000 |
MISSION TO THE WORLD PURPOSE: THIS CONTRIBUTION ALLOWS MISSION TO THE WORLD TO PROVIDE FINANCIAL SUPPORT TO THE PRESBYTERIAN MISSIONARIES THAT THEY SUPPORT ABROAD. | $18,000 |
COMMUNITY FOUNDATION FOR MISSISSIPPI PURPOSE: THE CONTRIBUTION WAS MADE TO ASSIST THE ORGANIZATION IN SUPPORTING THE MISSISSIPPI BOOK FESTIVAL. THE ORGANIZATION HELPED THE FESTIVAL DEFRAY THE EXPENSES ASSOCIATED WITH TRANSPORTING AUTHORS TO THE FESTIVAL AND RENTING FACILITIES FOR FESTIVAL EVENTS. | $7,500 |
MISSISSIPPI CANNABIS PATIENTS ALLIANCE PURPOSE: THE CONTRIBUTION WAS MADE TO ASSIST THE ORGANIZATION IN AIDING MISSISSIPPI PATIENTS WHOSE QUALITY OF LIFE CAN IMPROVE THROUGH THE SAFE AND WELL-REGULATED USE OF MEDICAL CANNABIS. | $30,000 |
MISSISSIPPI HISTORY PROJECT INC PURPOSE: THE CONTRIBUTION WAS MADE TO ASSIST THE ORGANIZATION IN EDUCATING THE PUBLIC ON THE HISTORY OF THE STATE OF MISSISSIPPI. | $36,000 |