The Irving And Jett Groves Charitable Foundation
- Assets
- $1.3m
- Revenue
- $68.9k
- Investments
- $1.3m
- Employees
- 0
- Location
- Martinsville, VA
- Founding
- 12/1999
- Data as of
- 09/2022
- EIN
- 54-1961867
Organization Overview
The Irving And Jett Groves Charitable Foundation is located in Martinsville, VA. The organization was established in 1999. 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. Irving And Jett Groves Charitable 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 09/2022, Irving And Jett Groves Charitable Foundation generated $68.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (20.4%) each year. All expenses for the organization totaled $86.6k during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Irving And Jett Groves Charitable Foundation has awarded 237 individual grants totaling $366,400. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Irving M Groves III Secretary | 1 | $0 | |
Mattie G Sheppard President | 1 | $0 | |
Jett G Wood Vice-President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $322 |
| Dividends & Interest | $38,875 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $29,350 |
| Capital Gain Net Income | $29,350 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $355 |
| Total Revenue | $68,902 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,308 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5 |
| Total operating and administrative expenses | $12,883 |
| Contributions, gifts, grants paid | $73,750 |
| Total expenses and disbursements | $86,633 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $38,035 |
| 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 | $624,527 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,298,430 |
| 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, The Irving And Jett Groves Charitable Foundation has awarded $73,750 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST UNITED METHODIST CHURCH PURPOSE: GENERAL OPERATING | $12,000 |
LONGWOOD UNIVERSITY SCHOLARSHIP PURPOSE: SCHOLARSHIP | $5,000 |
RANDOLPH MACON COLLEGE SCHOLARSHIP PURPOSE: SCHOLARSHIP | $5,000 |
NEW COLLEGE FOUNDATION SCHOLARSHIP PURPOSE: SCHOLARSHIP | $5,000 |
GRACE NETWORK PURPOSE: GENERAL OPERATING | $3,500 |
Martinsville, VA PURPOSE: GENERAL OPERATING | $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 |