Mary Reynolds Babcock Foundation Incorporated
- Assets
- $253.8m
- Revenue
- $55.9m
- Investments
- $231.7m
- Employees
- 0
- Location
- Winstonsalem, NC
- Founding
- 12/1954
- Data as of
- 12/2021
- EIN
- 56-0690140
Organization Overview
Mary Reynolds Babcock Foundation Incorporated is located in Winstonsalem, NC. The organization was established in 1954. 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. Mary Reynolds Babcock Foundation Incorporated 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 12/2021, Mary Reynolds Babcock Foundation Incorporated generated $55.9m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $15.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mary Reynolds Babcock Foundation Incorporated has awarded 449 individual grants totaling $61,342,062. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
FOUNDATION STAFF TIME AND EXPENSES ON BOARDS, GRANTEE TECHNICAL ASSISTANCE, PARTICIPATION IN FUNDER NETWORKS,PEER ADVICE TO FUNDER COLLEAGUES, PUBLIC POLICY RESEARCH AND PUBLISH RESULTS, PRESENTERS AT CONFERENCES, AND ADVISORY COMMITTEES OF OTHER CHARITABLE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laveeda Battle Board Member | 2 | $2,500 | |
Chad Berry Board Member | 2 | $4,000 | |
Ashleigh Gardere Board Member - Vice President | 2 | $4,000 | |
Jerry Gonzalez Board Member -President | 2 | $4,000 | |
Zachary Lassiter Board Member | 2 | $0 | |
James Mitchell Board Member | 2 | $4,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rbc Wealth Management | 12/30/22 | $396,924 |
Candide Group Llc | 12/30/22 | $162,012 |
Micah Gilmer Interim Ceo | 12/30/22 | $149,820 |
Brown Sustainable | 12/30/22 | $99,364 |
Saybrook Capital | 12/30/22 | $72,029 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $9,717,953 |
| Interest on Savings | $87,005 |
| Dividends & Interest | $1,994,188 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $24,752,005 |
| Capital Gain Net Income | $24,752,005 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $19,317,692 |
| Total Revenue | $55,868,843 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $437,239 |
| Other employee salaries and wages | $630,219 |
| Pension plans, employee benefits | $343,891 |
| Interest | $3,913 |
| Taxes | $700,794 |
| Depreciation | $34,158 |
| Occupancy | $4,322 |
| Travel, conferences, and meetings | $47,080 |
| Printing and publications | $0 |
| Other expenses | $1,961,923 |
| Total operating and administrative expenses | $6,955,211 |
| Contributions, gifts, grants paid | $8,331,250 |
| Total expenses and disbursements | $15,286,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $264,079 |
| Savings and temporary cash investments | $5,388,811 |
| Net Accounts receivable | $3,341 |
| Net Pledges Receivable | $8,917,953 |
| 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 | $54,494 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,173,436 |
| Net Land, buildings, and equipment | $446,593 |
| Other assets | $7,025,498 |
| Total assets | $253,832,619 |
| Accounts payable and accrued expenses | $260,583 |
| Grants payable | $29,998 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $101,955 |
| Other liabilities | $1,241,223 |
| Total liabilities | $1,633,759 |
Grants Awarded
Over the last fiscal year, Mary Reynolds Babcock Foundation Incorporated has awarded $21,796,670 in support to 84 organizations.
| Grant Recipient | Amount |
|---|---|
STATE LEADERSHIP PROJECT ON BEHALF OF SOUTHERN WORKING GROUP PURPOSE: GENERAL OPERATING | $1,000,000 |
STATE VOICES PURPOSE: ELECTION PROTECTION FUND | $1,000,000 |
CENTER ON BUDGET AND POLICY PRIORITIES PURPOSE: PROJECT/REGRANTING | $850,000 |
STATE LEADERSHIP PROJECT PURPOSE: ELECTION PROTECTION FUND | $850,000 |
PROGEORGIA STATE TABLE INC PURPOSE: GENERAL OPERATING/REGRANTING | $750,000 |
STATE VOICES PURPOSE: GENERAL OPERATING/REGRANTING | $850,000 |