John M Belk Endowment
- Assets
- $383.3m
- Revenue
- $11.3m
- Investments
- $337.6m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 03/1996
- Data as of
- 12/2022
- EIN
- 56-1954114
Organization Overview
John M Belk Endowment is located in Charlotte, NC. The organization was established in 1996. 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. John M Belk Endowment 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, John M Belk Endowment generated $11.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (24.3%) each year. All expenses for the organization totaled $25.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, John M Belk Endowment has awarded 129 individual grants totaling $122,516,141. 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:
DURING 2022, THE JOHN M. BELK ENDOWMENT JOINED OTHER ORGANIZATIONS IN LEADING THE "NC RECONNECT" EFFORT FOCUSED ON ENGAGING ADULTS IN NORTH CAROLINA WHO HAVE NOT COMPLETED A POST-SECONDARY CREDENTIAL AND CONNECTING THEM TO EDUCATIONAL PATHWAYS AT THEIR LOCAL COMMUNITY COLLEGE THAT LEAD TO IMPROVED CAREER OPPORTUNITIES. IN ADDITION TO MAKING GRANTS TO THE COMMUNITY COLLEGES IN THE FIRST COHORT, THE ENDOWMENT PAID FOR COMMUNICATIONS AND MARKETING SERVICES ESSENTIAL TO THE INITIATIVE'S SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Claudia Belk Pilon Board Chair | 40 | $35,568 | |
J Keith Benedict Board Member | 24 | $340,640 | |
Virginia M Esposito Board Member | 1 | $0 | |
Mark Earl Reed Managing Director | 40 | $364,335 | |
Charles W Kaylor Chief Of Staff | 40 | $167,000 | |
Michael Thomas Krause Senior Advisor | 40 | $160,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
South Summit Capital Management Llc | 12/30/22 | $531,680 |
New Educational Ventures Llc | 12/30/22 | $388,887 |
The Presence Project Llc | 12/30/22 | $211,750 |
Jake Drew | 12/30/22 | $234,000 |
Crisp Communications Llc | 12/30/22 | $207,561 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $496,243 |
| Dividends & Interest | $4,135,034 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,270,027 |
| Capital Gain Net Income | $5,257,498 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,448,669 |
| Total Revenue | $11,349,973 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $63,742 |
| Other employee salaries and wages | $1,031,296 |
| Pension plans, employee benefits | $178,369 |
| Interest | $29,326 |
| Taxes | $0 |
| Depreciation | $43,680 |
| Occupancy | $9,078 |
| Travel, conferences, and meetings | $155,935 |
| Printing and publications | $0 |
| Other expenses | $3,753,553 |
| Total operating and administrative expenses | $8,065,016 |
| Contributions, gifts, grants paid | $16,959,827 |
| Total expenses and disbursements | $25,024,843 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $598,574 |
| Savings and temporary cash investments | $3,233,333 |
| 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 | $41,468,960 |
| Investments—mortgage loans | $0 |
| Investments—other | $144,723,948 |
| Net Land, buildings, and equipment | $384,698 |
| Other assets | $0 |
| Total assets | $383,291,233 |
| Accounts payable and accrued expenses | $28,474 |
| 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 | $28,474 |
Grants Awarded
Over the last fiscal year, John M Belk Endowment has awarded $16,959,827 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
NC COMMUNITY COLLEGES FOUNDATION PURPOSE: GENERAL OPERATING SUPPORT | $400,000 |
NOVANT HEALTH PRESBYTERIAN MEDICAL CENTER FOUNDATION PURPOSE: SUPPORT FOR BRIDGES TO HEALTHCARE | $460,400 |
INSIDE TRACK INC PURPOSE: SUPPORT FOR NC RECONNECT EFFORT | $707,740 |
BOARD OF CONTROL FOR SOUTHERN REGIONAL EDUCATION PURPOSE: GRANT TO SOUTHERN REGIONAL EDUCATION BOARD | $50,000 |
EDUCATION COMMISSION OF THE STATES PURPOSE: SUPPORT FOR DATA QUALITY | $30,000 |
UNIVERSITY OF NORTH CAROLINA- CHAPEL HILL PURPOSE: SUPPORT FOR NC EDUCATION FUTURES | $757,652 |