The United Company Foundation
- Assets
- $58.6m
- Revenue
- $6.4m
- Investments
- $57.1m
- Employees
- 0
- Location
- Bristol, VA
- Founding
- 01/1987
- Data as of
- 12/2021
- EIN
- 54-1390453
Organization Overview
The United Company Foundation is located in Bristol, VA. The organization was established in 1987. 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. United Company 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 12/2021, United Company Foundation generated $6.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, United Company Foundation has awarded 681 individual grants totaling $16,604,166. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
LOW-INCOME HOUSEHOLDS IN BRISTOL VA & TN RECEIVE 1 BAG (= 1 MEAL) OF NUTRITIOUS FOOD PER FAMILY MEMBER PER MONTH. MEALS ARE DELIVERED VIA 2 VANS THAT TRAVEL TO THE HOMES OF THE RECIPIENTS. APPROXIMATELY 8,000 MEALS ARE DELIVERED PER MONTH.
A COLLEGE AND CAREER COUNSELOR WORKS AT MOUNTAIN MISSION SCHOOL (GRUNDY, VA) AND ASSISTS STUDENTS WITH COLLEGE AND APPLICATION PROCESSES, FINANCIAL AID, AND MATRICULATION PROCEDURES. THE COUNSELOR ALSO OVERSEES THE SCHOLARSHIP PROGRAM FOR MOUNTAIN MISSION SCHOOL GRADUATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peggy Littleton Executive Director | 20 | $54,720 | |
Lois A Clarke President/ceo/director | 5 | $54,292 | |
Claire Davis Assistant Secretary | 20 | $25,352 | |
Julia K Smith Assistant Secretary | 1 | $0 | |
Martha Mcglothlin Bowman Director | 1 | $0 | |
Nd Street Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $25 |
| Dividends & Interest | $660,051 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,779,749 |
| Capital Gain Net Income | $5,786,418 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,439,825 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $134,365 |
| Other employee salaries and wages | $94,699 |
| Pension plans, employee benefits | $41,022 |
| Interest | $0 |
| Taxes | $67,269 |
| Depreciation | $8,485 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $198 |
| Printing and publications | $0 |
| Other expenses | $144,285 |
| Total operating and administrative expenses | $801,499 |
| Contributions, gifts, grants paid | $2,090,659 |
| Total expenses and disbursements | $2,892,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,383,616 |
| Net Accounts receivable | $86,232 |
| 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 | $14,382 |
| Prepaid expenses and deferred charges | $8,283 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $18,533,074 |
| Net Land, buildings, and equipment | $18,302 |
| Other assets | $0 |
| Total assets | $58,565,887 |
| Accounts payable and accrued expenses | $110,458 |
| Grants payable | $508,889 |
| 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 | $619,347 |
Grants Awarded
Over the last fiscal year, The United Company Foundation has awarded $2,367,640 in support to 94 organizations.
| Grant Recipient | Amount |
|---|---|
YMCA OF BUCHANAN COUNTY PURPOSE: GENERAL SUPPORT | $246,533 |
JOHN HOPKINS UNIVERSITY PURPOSE: SIDNEY KIMMEL COMPREHENSIVE CANCER CENTER FOR PANCREATIC CANCER RESEARCH | $150,000 |
Bristol, VA PURPOSE: FUNDING AFTER SCHOOL AND SUMMER PROGRAMS | $125,000 |
Hamden, CT PURPOSE: EDUCATION - TUITION | $124,869 |
UNITED WAY OF SOUTHWEST VA PURPOSE: FUNDS FOR HURLEY, VA FLOOD RELIEF EFFORTS | $100,000 |
Blacksburg, VA PURPOSE: SCHOLARSHIP FUND FOR MEDICAL STUDENTS AT VCOM WHO COMMIT TO PRACTICE IN SOUTHWEST VA | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Cognizant Us Foundation Washington, DC | $53,711,221 | $1,081,755 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
Kahlert Foundation Inc Sykesville, MD | $93,179,960 | $19,162,440 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Claude And Betty Harris Foundation Inc Louisville, KY | $58,528,117 | $25,952,323 |
P H P Inc Hopkinsville, KY | $1,933,207 | $15,725,161 |