Cary Oil Foundation Inc
- Assets
- $2.0m
- Revenue
- $1.8m
- Investments
- $286.7k
- Employees
- 0
- Location
- Cary, NC
- Founding
- 04/1998
- Data as of
- 12/2022
- EIN
- 56-1950150
Organization Overview
Cary Oil Foundation Inc is located in Cary, NC. The organization was established in 1998. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Cary Oil 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.
Since 2014, Cary Oil Foundation Inc has awarded 134 individual grants totaling $4,177,916. 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
2022
Describe the Organization's Program Activity:
THE FOUNDATION DISTRIBUTED $498,500 TO 4 ORGANIZATIONS DURING 2022 FOR EDUCATIONAL, CIVIC, AND OTHER CHARITABLE PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Craig Stephenson Pres., Dir. | 2 | $0 | |
Adam Stephenson Sec., Trea., Dir. | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,726,000 |
| Interest on Savings | $29 |
| Dividends & Interest | $83 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $118,839 |
| Capital Gain Net Income | $118,839 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$357 |
| Total Revenue | $1,844,594 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $28,798 |
| Pension plans, employee benefits | $1,435 |
| Interest | $0 |
| Taxes | $2,419 |
| Depreciation | $192 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $884 |
| Printing and publications | $0 |
| Other expenses | $2,009 |
| Total operating and administrative expenses | $39,405 |
| Contributions, gifts, grants paid | $498,500 |
| Total expenses and disbursements | $537,905 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,753,234 |
| 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 | $20,298 |
| Net Land, buildings, and equipment | $383 |
| Other assets | $0 |
| Total assets | $2,040,331 |
| 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, Cary Oil Foundation Inc has awarded $498,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
FIDELITY INVESTMENTS CHARITABLE GIFT FUND PURPOSE: CHARITABLE | $495,500 |
POSITIVE ATTITUDE YOUTH CENTER INC PURPOSE: SOCIAL SERVICES | $1,000 |
EASTERN RANDOLPH HIGH SCHOOL ATHLETICS PURPOSE: EDUCATIONAL | $1,000 |
YMCA OF THE TRIANGLE PURPOSE: YOUTH PROGRAMS | $1,000 |