John M Belk Endowment
- Assets
- $344.5m
- Revenue
- $19.8m
- Investments
- $290.6m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 03/1996
- Data as of
- 12/2020
- 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 12/2020, John M Belk Endowment generated $19.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (24.3%) each year. All expenses for the organization totaled $20.7m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, John M Belk Endowment has awarded 101 individual grants totaling $105,556,314. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2021, 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 |
|---|---|---|---|
Mark Earl Reed Managing Director | 40 | $170,624 | |
Charles W Kaylor Chief Of Staff | 40 | $161,736 | |
Virginia M Mcilwain Director Strategic I | 40 | $116,174 | |
Allison Marie Fern Strategic Projects S | 40 | $80,833 | |
Usoon Woo Executive Assistant | 40 | $78,028 | |
Mary Claudia Belk Pilon Board Chair | 40 | $35,568 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
South Summit Capital Management Llc | 12/30/21 | $689,680 |
New Educational Ventures | 12/30/21 | $223,168 |
Jake Drew | 12/30/21 | $216,000 |
New Republic Capital Llc | 12/30/21 | $183,750 |
Visionpoint Marketing Llc | 12/30/21 | $181,794 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $243,356 |
| Interest on Savings | $69,588 |
| Dividends & Interest | $1,341,216 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $12,431,236 |
| Capital Gain Net Income | $12,425,150 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,739,595 |
| Total Revenue | $19,824,991 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $60,695 |
| Other employee salaries and wages | $415,455 |
| Pension plans, employee benefits | $86,292 |
| Interest | $0 |
| Taxes | $262,662 |
| Depreciation | $40,968 |
| Occupancy | $3,510 |
| Travel, conferences, and meetings | $23,592 |
| Printing and publications | $0 |
| Other expenses | $1,655,401 |
| Total operating and administrative expenses | $5,027,870 |
| Contributions, gifts, grants paid | $15,669,248 |
| Total expenses and disbursements | $20,697,118 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $707,509 |
| Savings and temporary cash investments | $11,343,841 |
| 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 | $41,466,994 |
| Investments—mortgage loans | $0 |
| Investments—other | $249,749,576 |
| Net Land, buildings, and equipment | $367,390 |
| Other assets | $0 |
| Total assets | $344,527,989 |
| Accounts payable and accrued expenses | $4,363 |
| 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 | $4,363 |
Grants Awarded
Over the last fiscal year, John M Belk Endowment has awarded $17,004,587 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
Raleigh, NC PURPOSE: BLDG CAPACITY OF VIRTUAL CNTRS FOR TEACHING/LEARNING TO IMPROVE STUDENT SUCCESS IN NCCC | $2,150,000 |
Raleigh, NC PURPOSE: ENVISIONING EXCELLENCE FOR COMMUNITY COLLEGE LEADERSHIP | $2,149,405 |
Charlotte, NC PURPOSE: GENERAL OPERATING SUPPORT | $1,500,000 |
Charlotte, NC PURPOSE: GENERAL OPERATING SUPPORT | $1,400,000 |
MYFUTURENC INC PURPOSE: 2021-22 STRATEGIC INITIATIVES | $1,250,000 |
Raleigh, NC PURPOSE: CONTINUING COVERAGE IN NC | $1,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that John M Belk Endowment has recieved totaling $243,356.
| Awarding Organization | Amount |
|---|---|
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: POSTSECONDARY EDUCATION | $243,356 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John Bulow Campbell Foundation Atlanta, GA | $793,659,742 | $103,345,098 |
The Rosser Foundation A Pure Charitable Trust And Public Charit Hampton, VA | $12,195,900 | $36,359,396 |
Darla Moore And Richard Rainwater Foundation Lake City, SC | $538,432,800 | $34,322,461 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
John M Belk Endowment Charlotte, NC | $344,527,989 | $19,824,991 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
The Henry W Grady Health System Foundation Inc Atlanta, GA | $41,862,389 | $12,481,516 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |
The Ezrah Charitable Trust Charlotte, NC | $259,414,844 | $89,054,665 |
Robert E And Jenny D Kirkland Foundation Union City, TN | $287,925,102 | $17,113,043 |
Speer Foundation Brentwood, TN | $160,979,713 | $8,246,449 |