Hugh I Shott Jr Foundation
- Assets
- $48.3m
- Revenue
- $4.0m
- Investments
- $43.4m
- Employees
- 0
- Location
- Bluefield, WV
- Founding
- 10/1986
- Data as of
- 12/2023
- EIN
- 55-0650833
Organization Overview
Hugh I Shott Jr Foundation is located in Bluefield, WV. The organization was established in 1986. 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. Hugh I Shott Jr 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, Hugh I Shott Jr Foundation generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $2.7m during the year ending 12/2023. While expenses have increased by 0.9% per year over the past 5 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, Hugh I Shott Jr Foundation has awarded 81 individual grants totaling $9,269,975. 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 |
|---|---|---|---|
Frank W Wilkinson Vice President | 5 | $40,000 | |
Bk Satterfield Treasurer | 1 | $0 | |
John H Shott President | 1 | $0 | |
W Chandler Swope Director | 1 | $0 | |
Michael R Shott Director | 1 | $0 | |
James H Shott III Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,007,840 |
| Net Rental Income | -$51,193 |
| Net Gain on Sale of Assets | $2,930,687 |
| Capital Gain Net Income | $2,930,687 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,979,327 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $40,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,393 |
| Depreciation | $49,159 |
| Occupancy | $11,552 |
| Travel, conferences, and meetings | $2,214 |
| Printing and publications | $0 |
| Other expenses | $29,205 |
| Total operating and administrative expenses | $396,955 |
| Contributions, gifts, grants paid | $2,273,871 |
| Total expenses and disbursements | $2,670,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,481,594 |
| 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 | $2,385,159 |
| Investments—mortgage loans | $0 |
| Investments—other | $19,026,670 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $32,900 |
| Total assets | $48,344,742 |
| 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, Hugh I Shott Jr Foundation has awarded $2,273,871 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
BLUEFIELD ARTS AND REVITALIZATION CENTER PURPOSE: CHARITABLE - GRANADA THEATER PROJECT | $659,835 |
CITY OF BLUEFIELD WV PURPOSE: CHARITABLE - POLICE DEPARTMENT VEHICLES | $100,000 |
CITY OF BLUEFIELD WV PURPOSE: CHARITABLE - BLUEFIELD CITY PARK PICKLEBALL COURTS | $100,000 |
CITY OF BLUEFIELD WV PURPOSE: CHARITABLE - MITCHELL STADIUM IMPROVEMENTS | $290,000 |
CITY OF BLUEFIELD WV PURPOSE: CHARITABLE - BLUEFIELD CITY PARK CHRISTMAS VILLAGE | $45,000 |
CITY OF BLUEFIELD WV PURPOSE: CHARITABLE - BLUEFIELD CITY PARK PLAYGROUND AND SPLASH PAD | $651,605 |