Paul And Carol Cole Foundation Inc
- Assets
- $4.4m
- Revenue
- $563.1k
- Investments
- $4.1m
- Employees
- 0
- Location
- Bluefield, WV
- Founding
- 01/1998
- Data as of
- 06/2023
- EIN
- 54-1830656
Organization Overview
Paul And Carol Cole Foundation Inc is located in Bluefield, WV. The organization was established in 1998. 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. Paul And Carol Cole Foundation Inc 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 06/2023, Paul And Carol Cole Foundation Inc generated $563.1k in total revenue. All expenses for the organization totaled $172.6k during the year ending 06/2023. While expenses have increased by 85.2% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Paul And Carol Cole Foundation Inc has awarded 24 individual grants totaling $187,313. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William P Cole Vice President | 0 | $0 | |
Charles M Cole Sr Secretary/treasurer | 0 | $0 | |
Thomas J Cole President | 0 | $0 | |
Jason P Cole Director | 0 | $0 | |
Charles M Cole Jr Director | 0 | $0 | |
Lea-Anne L Greene Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $462,500 |
| Interest on Savings | $0 |
| Dividends & Interest | $103,145 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$2,540 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $563,105 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,182 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $243 |
| Printing and publications | $0 |
| Other expenses | $5,025 |
| Total operating and administrative expenses | $31,079 |
| Contributions, gifts, grants paid | $141,500 |
| Total expenses and disbursements | $172,579 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $311,732 |
| 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 | $2,185,154 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,424,094 |
| 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, Paul And Carol Cole Foundation Inc has awarded $141,500 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
BLUEFIELD STATE UNIVERSITY PURPOSE: TO ASSIST WITH HERITAGE VILLAGE CLEANUP | $20,000 |
HOPE RIDGE RECOVERY INC PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION | $5,000 |
WADE CENTER PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION | $5,000 |
FIRST PRESBYTERIAN CHURCH PURPOSE: RECOVERY MINISTRY | $5,000 |
SECOND CHANCE FOR CATS PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION | $2,500 |
MERCER COUNTY FELLOWSHIP HOME PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION | $2,500 |