Patrick Henry Memorial Foundation
- Assets
- $15.3m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 24
- Location
- Brookneal, VA
- Founding
- 07/1979
- Data as of
- 06/2022
- EIN
- 54-0662892
Organization Overview
Patrick Henry Memorial Foundation is located in Brookneal, VA. The organization was established in 1979. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Patrick Henry Memorial Foundation employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Patrick Henry Memorial 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 06/2022, Patrick Henry Memorial Foundation generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. While expenses have increased by 8.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PATRICK HENRY MEMORIAL FOUNDATION POSSESSES THE LARGEST COLLECTION OF PATRICK HENRY ARTIFACTS AND MEMORABILIA IN THE NATION. THE PURPOSE OF THIS COLLECTION IS TO AID IN EDUCATING THE PUBLIC ABOUT THE LIFE, TIMES, PHILOSOPHY, AND CONTRIBUTIONS TO POSTERITY OF PATRICK HENRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAINTAINS AND INTERPRETS RED HILL, PATRICK HENRY'S LAST HOME AND BURIAL PLACE, AS A HISTORICAL SITE AND MUSEUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ward Burton Director | Trustee | $0 | |
Mark Holman Director | Trustee | $0 | |
Dabney T P Gilliam Jr Director - C | Trustee | $0 | |
Jean Elliott Director Vi | Trustee | $0 | |
Charles Skip D Fox IV Director | Trustee | $0 | |
Walter M Cart Jr Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $68,593 |
| All other contributions, gifts, grants, and similar amounts not included above | $781,929 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $850,522 |
| Total Program Service Revenue | $15,784 |
| Investment income | $358,870 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $100,129 |
| Net Gain/Loss on Asset Sales | $24,538 |
| Net Income from Fundraising Events | $383 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $29,989 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,385,392 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $359,890 |
| Pension plan accruals and contributions | $6,868 |
| Other employee benefits | $28,008 |
| Payroll taxes | $27,947 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $77,452 |
| Fees for services: Other | $182,643 |
| Advertising and promotion | $27,201 |
| Office expenses | $66,794 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,920 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $477 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $229,095 |
| Insurance | $39,091 |
| All other expenses | $16,290 |
| Total functional expenses | $1,269,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $730,405 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $365 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $59,941 |
| Prepaid expenses and deferred charges | $4,758 |
| Net Land, buildings, and equipment | $5,506,449 |
| Investments—publicly traded securities | $347,828 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,688,632 |
| Total assets | $15,338,378 |
| Accounts payable and accrued expenses | $5,210 |
| 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 | $30,737 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $573 |
| Total liabilities | $36,520 |
| Net assets without donor restrictions | $6,156,356 |
| Net assets with donor restrictions | $9,145,502 |
| 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 | $15,338,378 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Patrick Henry Memorial Foundation has recieved totaling $15,651.
| Awarding Organization | Amount |
|---|---|
Joseph T Mcivor Foundation Gladys, VA PURPOSE: OPERATING EXPENSES | $8,000 |
Watt Foster Family Foundation Brookneal, VA PURPOSE: OPERATIONAL EXPENSES | $5,000 |
Jamerson Family Fdn Irrv Char Tr Orlando, FL PURPOSE: GENERAL OPERATING | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $151 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
White House Historical Association Washington, DC | $70,614,346 | $21,703,882 |
National Links Trust Washington, DC | $8,914,003 | $10,793,468 |
Maymont Foundation Richmond, VA | $38,971,207 | $5,423,725 |
The Lynnwood Foundation Charlotte, NC | $21,387,443 | $5,860,754 |
The Heritage Foundation Of Williamson County Tn Franklin, TN | $23,589,168 | $5,101,900 |
Classical American Homes Preservation Trust Hillsborough, NC | $132,123,539 | $8,113,151 |
Andrew Jackson Foundation Hermitage, TN | $11,010,285 | $4,320,645 |
National Archives Foundation Washington, DC | $14,544,421 | $8,935,036 |
Memphis Chapter For Preservation Of Tennessee Antiquities Nashville, TN | $7,377,257 | $4,193,595 |
House Of The Temple Historic Preservation Foundation Inc Washington, DC | $31,687,828 | $5,822,669 |
Historic Annapolis Inc Annapolis, MD | $11,216,187 | $4,170,932 |
The George Washington Foundation Fredericksburg, VA | $39,220,156 | $2,847,343 |