The United Company Foundation
- Assets
- $45.4m
- Revenue
- $3.1m
- Investments
- $41.8m
- Employees
- 0
- Location
- Bristol, VA
- Founding
- 01/1987
- Data as of
- 12/2022
- 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 12/2022, United Company Foundation generated $3.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $3.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, United Company Foundation has awarded 792 individual grants totaling $20,667,048. 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
2022
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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James W Mcglothlin Chairman/director | 5 | $0 | |
Lois A Clarke President/ceo/director | 5 | $804 | |
Fay H Street Secretary/director | 1 | $0 | |
Barbara J Bjerke Treasurer | 1 | $0 | |
Claire Davis Executive Director | 20 | $57,002 | |
Julia K Smith Assistant Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $30,868 |
| Dividends & Interest | $777,321 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,334,932 |
| Capital Gain Net Income | $2,334,932 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,143,121 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $57,806 |
| Other employee salaries and wages | $121,034 |
| Pension plans, employee benefits | $92,855 |
| Interest | $0 |
| Taxes | $40,019 |
| Depreciation | $5,620 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $95 |
| Printing and publications | $0 |
| Other expenses | $175,330 |
| Total operating and administrative expenses | $769,133 |
| Contributions, gifts, grants paid | $2,622,458 |
| Total expenses and disbursements | $3,391,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$65,835 |
| Savings and temporary cash investments | $3,486,418 |
| Net Accounts receivable | $184,568 |
| 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 | $17,822 |
| Prepaid expenses and deferred charges | $9,422 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $13,567,132 |
| Net Land, buildings, and equipment | $12,682 |
| Other assets | $0 |
| Total assets | $45,425,457 |
| Accounts payable and accrued expenses | $89,437 |
| Grants payable | $806,499 |
| 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 | $895,936 |
Grants Awarded
Over the last fiscal year, The United Company Foundation has awarded $2,324,848 in support to 104 organizations.
| Grant Recipient | Amount |
|---|---|
ALICE LLOYD COLLEGE PURPOSE: SCHOLARSHIPS FOR NEEDY STUDENTS | $5,000 |
APPALACHIAN SUSTAINABLE DEVELOPMENT PURPOSE: FEED FAMILIES IN SOUTHWEST VA/NORTHEAST TN; FUNDING FOR PURCHASE OF VAN FOR BUCHANAN COUNTY | $30,000 |
BACKPACK BLESSINGS INC PURPOSE: BACKPACK PROGRAM IN BUCHANAN CO. VA | $5,000 |
BALLAD HEALTH FOUNDATION PURPOSE: FUND NEW MOBILE COACH AND 3D MAMMOGRAPHY UNIT | $250,000 |
BARRY UNIVERSITY PURPOSE: EDUCATION - TUITION | $14,511 |
BARRY UNIVERSITY PURPOSE: EDUCATION - BOOKS | $247 |