The Hedrick Family Foundation Inc
- Assets
- $497.3k
- Revenue
- $380.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Salisbury, NC
- Founding
- 11/1996
- Data as of
- 12/2022
- EIN
- 56-1994087
Organization Overview
The Hedrick Family Foundation Inc is located in Salisbury, NC. The organization was established in 1996. 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. Hedrick Family 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, Hedrick Family Foundation Inc generated $380.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.8% each year . All expenses for the organization totaled $216.5k during the year ending 12/2022. While expenses have increased by 6.3% per year over the past 7 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 2015, Hedrick Family Foundation Inc has awarded 523 individual grants totaling $1,363,204. 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
ROCK THE QUARRY BENEFIT RUN - ROCK THE QUARRY IS A FOOT RACE WITH A MISSION TO BRING OUR COMMUNITY TOGETHER TO CELEBRATE GOOD HEALTH IN OUR BEAUTIFUL SOURROUNDING WHILE SUPPORTING OUR NEIGHBORS. NET PROCEEDS FROM THE EVENT BENEFIT BLACK MOUNTAIN HOME FOR CHILDREN AND ASHEVILLE MUSEUM OF SCIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey V Goodman President | 0 | $0 | |
Jane B Arnold VP & Treasur | 0 | $0 | |
F Joanne Johnson Secretary | 0 | $0 | |
Arthur L Hattaway Jr Assistant Se | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $302,693 |
| Interest on Savings | $117 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $77,206 |
| Total Revenue | $380,016 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,271 |
| Total operating and administrative expenses | $4,271 |
| Contributions, gifts, grants paid | $212,195 |
| Total expenses and disbursements | $216,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $474,300 |
| Savings and temporary cash investments | $22,992 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $497,292 |
| 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, The Hedrick Family Foundation Inc has awarded $212,195 in support to 64 organizations.
| Grant Recipient | Amount |
|---|---|
ABCCM PURPOSE: CHARITABLE USE | $500 |
AMERICAN LEGION POST 92 PURPOSE: CHARITABLE USE | $1,000 |
AMOREM PURPOSE: CHARITABLE USE | $1,600 |
ANSON COUNTY COOPERATIVE EXTENSION PURPOSE: CHARITABLE USE | $1,000 |
AMS COUGAR ATHLETIC BOOSTER PURPOSE: CHARITABLE USE | $1,000 |
ANSON ATHLETIC YOUTH ASSOCIATION PURPOSE: CHARITABLE USE | $1,000 |