Carneal-Drew Foundation
- Assets
- $579.9k
- Revenue
- $37.1k
- Investments
- $483.2k
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 07/1964
- Data as of
- 09/2023
- EIN
- 54-6051095
Organization Overview
Carneal-Drew Foundation is located in Richmond, VA. The organization was established in 1964. 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. Carneal-Drew 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 09/2023, Carneal-Drew Foundation generated $37.1k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $63.0k during the year ending 09/2023. While expenses have increased by 4.5% per year over the past 4 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 2020, Carneal-Drew Foundation has awarded 184 individual grants totaling $220,629. 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 L Graham Secretary | 1 | $0 | |
Meade A Spotts President | 1 | $0 | |
Courtland Spotts IV Vp/treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $28,766 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,290 |
| Capital Gain Net Income | $8,290 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $37,058 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $561 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $690 |
| Total operating and administrative expenses | $6,465 |
| Contributions, gifts, grants paid | $56,500 |
| Total expenses and disbursements | $62,965 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $45,695 |
| 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 | $51,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $579,862 |
| 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, Carneal-Drew Foundation has awarded $56,500 in support to 49 organizations.
| Grant Recipient | Amount |
|---|---|
CHESAPEAKE ACADEMY PURPOSE: SCHOLARSHIP FUND | $2,000 |
CARMEL BAPTIST CHURCH PURPOSE: OPERATING FUND | $1,000 |
SECOND BAPTIST CHURCH PURPOSE: DISCRETIONARY FUND | $13,000 |
NEW DUBLIN PRES CHURCH PURPOSE: OPERATING FUND | $1,000 |
WILLIAM MARY LAW SCHOOL PURPOSE: SCHOLARSHIP FUND. | $2,000 |
RANDOLPH MACON COLLEGE FOUNDATION PURPOSE: OPERATING FUND | $2,000 |