Bassett Furniture Industries Foundation
- Assets
- $978.3k
- Revenue
- $208.4k
- Investments
- $607.0k
- Employees
- 0
- Location
- Bassett, VA
- Founding
- 02/1993
- Data as of
- 11/2021
- EIN
- 54-1652381
Organization Overview
Bassett Furniture Industries Foundation is located in Bassett, VA. The organization was established in 1993. 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. Bassett Furniture Industries 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 11/2021, Bassett Furniture Industries Foundation generated $208.4k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $94.9k during the year ending 11/2021. 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 |
|---|---|---|---|
J Michael Daniel Officer | 0.1 | $0 | |
Edward White Officer | 0.1 | $0 | |
Robert H Spilman Jr President | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $120,126 |
| Interest on Savings | $2,537 |
| Dividends & Interest | $14,146 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $71,599 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $208,408 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $35 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,824 |
| Total operating and administrative expenses | $12,396 |
| Contributions, gifts, grants paid | $82,500 |
| Total expenses and disbursements | $94,896 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,339 |
| 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 | $336,905 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $978,266 |
| 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, Bassett Furniture Industries Foundation has awarded $82,500 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED WAY OF HENRY COUNTY & MARTINSVILLE PURPOSE: SUPPORT | $25,000 |
ROOSTER WALK INC PURPOSE: SUPPORT | $20,000 |
Bassett, VA PURPOSE: SUPPORT | $10,000 |
VIRGINIA FOUNDATION FOR INDEPENDENT COLLEGES PURPOSE: SUPPORT | $10,000 |
Martinsville, VA PURPOSE: SUPPORT | $10,000 |
MHC FAMILY YMCA PURPOSE: SUPPORT | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robins Foundation Richmond, VA | $182,936,779 | $19,761,890 |
Jacob And Hilda Blaustein Foundation Inc Baltimore, MD | $130,688,531 | $27,779,767 |
Carson-Myre Charitable Foundation Paducah, KY | $72,587,857 | $8,781,396 |
Virginia Institute Of Autism Incorporated Charlottesville, VA | $13,400,970 | $11,731,710 |
Clark-Winchcole Foundation Bethesda, MD | $197,708,650 | $12,024,655 |
Joe C Davis Foundation Nashville, TN | $101,782,891 | $6,182,733 |
National Minority Quality Forum Inc Washington, DC | $4,852,871 | $11,649,230 |
Gambrell Foundation Charlotte, NC | $0 | $18,901,501 |
Day Foundation Memphis, TN | $0 | $13,711,953 |
Clayton Family Foundation Knoxville, TN | $90,913,195 | $17,391,150 |
Affordable Housing Opportunity Fund Inc Charlottesville, VA | $703,537 | $6,974,715 |
G Harbaugh Foundation Franklin, TN | $61,708,468 | $12,393,056 |