Walter Franklin And Dorothy G Covington Foundation
- Assets
- $191.0k
- Revenue
- $62.9k
- Investments
- $153.8k
- Employees
- 0
- Location
- Irvington, VA
- Founding
- 06/2000
- Data as of
- 12/2023
- EIN
- 54-1986978
Organization Overview
Walter Franklin And Dorothy G Covington Foundation is located in Irvington, VA. The organization was established in 2000. 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. Walter Franklin And Dorothy G Covington 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 12/2023, Walter Franklin And Dorothy G Covington Foundation generated $62.9k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $40.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Walter Franklin And Dorothy G Covington Foundation has awarded 134 individual grants totaling $336,500. 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 |
|---|---|---|---|
A Wayne Saunders Director | 0 | $0 | |
Reginald V Shaw Committee Mb | 0 | $0 | |
Margaret Gano Committee Mb | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $96 |
| Dividends & Interest | $18,735 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $44,030 |
| Capital Gain Net Income | $19 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $62,861 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $393 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15 |
| Total operating and administrative expenses | $5,562 |
| Contributions, gifts, grants paid | $35,000 |
| Total expenses and disbursements | $40,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $37,201 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $191,049 |
| 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, Walter Franklin And Dorothy G Covington Foundation has awarded $35,000 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
MASONIC HOME OF VA PURPOSE: GENERAL FUND/CHARITABLE SUPPORT | $2,500 |
MID COUNTY RESCUE SQUAD PURPOSE: GENERAL FUND/CHARITABLE SUPPORT | $2,500 |
CALLAO RESCUE SQUAD PURPOSE: GENERAL FUND/CHARITABLE SUPPORT | $2,500 |
INTERFAITH SVS COUNCIL PURPOSE: GENERAL FUND/CHARITABLE SUPPORT | $2,500 |
SHILOH BAPTIST CHURCH PURPOSE: GENERAL FUND/CHARITABLE SUPPORT | $2,500 |
REEDVILLE FISHERMEN'S MUS PURPOSE: GENERAL FUND/CHARITABLE SUPPORT | $2,500 |