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 4 years, it has increased revenue by an average of 20.7% each year . All expenses for the organization totaled $15.3m during the year ending 12/2021. While expenses have increased by 9.6% 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, Mary Reynolds Babcock Foundation Incorporated has awarded 365 individual grants totaling $39,545,392. 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 |
|---|---|---|---|
Jennifer Barksdale Chief Finance And Operations Officer | 40 | $140,568 | |
Elena Conley Chief Strategy Officer | 40 | $131,738 | |
Dwayne Patterson Chief Equity Officer | 40 | $129,538 | |
Susanna Hegner Communications Offic | 40 | $99,178 | |
Christine Mayers Grants Manager | 40 | $92,041 | |
Ethan Hamblin Network Officer | 40 | $85,358 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rbc Wealth Management | 12/30/21 | $422,687 |
Micah Gilmer Interim Ceo | 12/30/21 | $207,851 |
Candide Group Llc | 12/30/21 | $120,584 |
Brown Sustainable | 12/30/21 | $119,038 |
Saybrook Capital | 12/30/21 | $84,411 |
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 $8,376,250 in support to 46 organizations.
| Grant Recipient | Amount |
|---|---|
OPPORTUNITY FINANCE NETWORK PURPOSE: UPLIFT AMERICA FUND | $1,100,000 |
NEIGHBORHOOD FUNDERS GROUP ON BEHALF OF SOUTHERN WORKERS OPPORTUNITY FUND PURPOSE: PROJECT SUPPORT | $1,000,000 |
Durham, NC PURPOSE: GENERAL OPERATING/REGRANTING | $800,000 |
Atlanta, GA PURPOSE: GENERAL OPERATING/REGRANTING | $450,000 |
SOUTH CAROLINA ASSOCIATION FOR COMMUNITY ECONOMIC DEVELOPMENT PURPOSE: GENERAL OPERATING/REGRANTING | $400,000 |
Washington, DC PURPOSE: PROJECT SUPPORT/REGRANTING | $400,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mary Reynolds Babcock Foundation Incorporated has recieved totaling $3,200,000.
| Awarding Organization | Amount |
|---|---|
Ford Foundation New York, NY PURPOSE: FOR THE UPLIFT AMERICA FUND TO SUPPORT THE DEVELOPMENT OF COMMUNITY FACILITIES IN POOR, RURAL AREAS OF THE UNITED STATES AND PROVIDE SUPPORT FOR URGENT COVID 19 ECONOMIC NEEDS. | $1,600,000 |
Ford Foundation New York, NY PURPOSE: FOR THE UPLIFT AMERICA FUND TO SUPPORT THE DEVELOPMENT OF COMMUNITY FACILITIES IN POOR, RURAL AREAS OF THE UNITED STATES AND PROVIDE SUPPORT FOR URGENT COVID 19 ECONOMIC NEEDS. | $1,600,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |
Goizueta Foundation Inc Atlanta, GA | $444,757,286 | $34,966,270 |
The Leon Levine Foundation Charlotte, NC | $654,368,860 | $94,686,429 |
Maclellan Foundation Inc Chattanooga, TN | $225,301,353 | $34,552,415 |
We Are Sharing Hope Sc Charleston, SC | $50,025,063 | $34,221,211 |
The Frist Foundation Nashville, TN | $198,128,014 | $36,312,656 |
Danville Regional Foundation Danville, VA | $280,479,931 | $21,605,962 |
The Duke Energy Foundation Charlotte, NC | $4,461,931 | $408,995 |
Smith Richardson Foundation Inc Greensboro, NC | $606,694,904 | $88,589,213 |