Sully Foundation Ltd
- Assets
- $1.1m
- Revenue
- $47.8k
- Investments
- $802.8k
- Employees
- 0
- Location
- Purcellville, VA
- Founding
- 07/2019
- Data as of
- 12/2022
- EIN
- 54-0855626
Organization Overview
Sully Foundation Ltd is located in Purcellville, VA. The organization was established in 2019. 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. Sully Foundation Ltd 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, Sully Foundation Ltd generated $47.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $84.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Sully Foundation Ltd has awarded 21 individual grants totaling $181,985. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SULLY FOUNDATION, A PRIVATE CHARITABLE FOUNDATION, PROVIDES FUNDS TO BE USED FOR THE PRESEERVATION OF SULLY PLANTATION, THE HOME OF RICHARD BLAND LEE, THE FIRST US CONGRESSMAN FROM NORTHERN VIRGINIA. DURING THE PAST YEAR, THE ORGANIZATION MADE CASH DONATIONS TO THE FAIRFAX COUNTY, VA PARK AUTHORITY FOR BENEFIT OF THE PLANTATION.
EDUCATIONAL SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roberta Jeffries Chairperson | 0 | $0 | |
Lee Hubbard Vice Chairpe | 0 | $0 | |
Orlo Chip Paciulli III Treasurer | 0 | $0 | |
Paula Elsey Secretary | 0 | $0 | |
W Lewis Leigh Jr Director | 0 | $0 | |
Michael Frey Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $7,667 |
| Dividends & Interest | $18,280 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $21,805 |
| Capital Gain Net Income | $21,805 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $47,752 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $685 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $678 |
| Printing and publications | $0 |
| Other expenses | $4,132 |
| Total operating and administrative expenses | $22,260 |
| Contributions, gifts, grants paid | $62,033 |
| Total expenses and disbursements | $84,293 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,335 |
| 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 | $116,274 |
| Total assets | $1,114,377 |
| 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, Sully Foundation Ltd has awarded $62,033 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
FAIRFAX COUNTY PARK AUTHORITY PURPOSE: CASH TO BENEFIT SULLY PLANTATION | $48,033 |
UNIVERSITY OF VIRGINIA PURPOSE: SCHOLARSHIP | $2,000 |
VIRGINIA TECH PURPOSE: SCHOLARSHIP | $2,000 |
HAMPTON UNIVERSITY PURPOSE: SCHOLARSHIP | $2,000 |
VIRGINIA TECH PURPOSE: SCHOLARSHIP | $2,000 |
VIRGINIA COMMONWEALTH UNIVERSITY PURPOSE: SCHOLARSHIP | $2,000 |