George W And Ruth R Baxter Foundation Inc
- Assets
- $17.7m
- Revenue
- $757.2k
- Investments
- $17.2m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 10/1970
- Data as of
- 12/2022
- EIN
- 56-0949547
Organization Overview
George W And Ruth R Baxter Foundation Inc is located in Charlotte, NC. The organization was established in 1970. 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. George W And Ruth R Baxter Foundation Inc 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 12/2022, George W And Ruth R Baxter Foundation Inc generated $757.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, George W And Ruth R Baxter Foundation Inc has awarded 186 individual grants totaling $3,415,250. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
G Steve Baxter Sr Chairman | 10 | $60,000 | |
Barbara S Grotzke Director/treasurer | 3 | $20,000 | |
Emily E Pace Director/assistant Secretary | 1 | $7,500 | |
Andrew D Pace Director/president | 8 | $50,000 | |
Mark Bare Director/secretary | 1 | $10,000 | |
Nolan D Pace Jr Chairman | 25 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4,939 |
| Dividends & Interest | $327,752 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $424,544 |
| Capital Gain Net Income | $424,544 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $757,235 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $267,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $9,180 |
| Interest | $0 |
| Taxes | $60,360 |
| Depreciation | $0 |
| Occupancy | $35,047 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $172,334 |
| Total operating and administrative expenses | $551,274 |
| Contributions, gifts, grants paid | $940,500 |
| Total expenses and disbursements | $1,491,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $463,035 |
| 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 | $15,062,486 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $17,693,198 |
| 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, George W And Ruth R Baxter Foundation Inc has awarded $940,500 in support to 55 organizations.
| Grant Recipient | Amount |
|---|---|
AUGUSTINE LITERACY PROJECT PURPOSE: CIVIC, TUTORING ASSISTANCE IN UNDER-RESOURCED COMMUNITIES | $10,000 |
REMOTE AREA MEDICAL PURPOSE: CIVIC, SUPPORT FOR CHILDREN IN POVERTY | $10,000 |
BLESSED ASSURANCE PURPOSE: CIVIC, ADULT DAY AND HEALTH CARE SERVICES | $10,000 |
CABARRUS MEALS ON WHEELS PURPOSE: CIVIC, HELPING END SENIOR HUNGER | $10,000 |
CAROLINA BREAST FRIENDS PURPOSE: MEDICAL, FREE SCREENING | $10,000 |
CHARLOTTE BRIDGE HOME PURPOSE: CIVIC, PROVIDES SUPPORT FOR VETERANS AND THEIR FAMILIES | $20,000 |