The Horace G Fralin Charitable Trust
- Assets
- $34.4m
- Revenue
- $1.3m
- Investments
- $33.6m
- Employees
- 0
- Location
- Roanoke, VA
- Founding
- 08/1989
- Data as of
- 12/2023
- EIN
- 54-1509505
Organization Overview
The Horace G Fralin Charitable Trust is located in Roanoke, VA. The organization was established in 1989. 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. Horace G Fralin Charitable Trust 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 12/2023, Horace G Fralin Charitable Trust generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (8.7%) each year. All expenses for the organization totaled $4.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W Heywood Fralin Co-Trustee | 0 | $0 | |
William H Fralin Co-Trustee | 0 | $0 | |
Robert P Fralin Co-Trustee | 0 | $0 | |
Katherine F Walker Co-Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $676,123 |
| Dividends & Interest | $555,983 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$505,427 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $233,607 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $524,896 |
| Total Revenue | $1,251,575 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $1,500 |
| Pension plans, employee benefits | $115 |
| Interest | $83,619 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $503,772 |
| Total operating and administrative expenses | $626,847 |
| Contributions, gifts, grants paid | $4,000,226 |
| Total expenses and disbursements | $4,627,073 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $353,990 |
| 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 | $342,726 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $33,618,236 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $129,102 |
| Total assets | $34,444,054 |
| 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 |