The First Bank Foundation
- Assets
- $600.1k
- Revenue
- $16.4k
- Investments
- $594.1k
- Employees
- 0
- Location
- Cheraw, SC
- Founding
- 05/1998
- Data as of
- 06/2024
- EIN
- 56-2068430
Organization Overview
The First Bank Foundation is located in Cheraw, SC. The organization was established in 1998. 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. First Bank Foundation 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 06/2024, First Bank Foundation generated $16.4k 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 (12.7%) each year. All expenses for the organization totaled $28.2k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, First Bank Foundation has awarded 142 individual grants totaling $116,500. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Long Director | 0 | $0 | |
James Crawford Director | 0 | $0 | |
William Rhett Butler Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4 |
| Dividends & Interest | $16,405 |
| 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 | $0 |
| Total Revenue | $16,409 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $560 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,224 |
| Contributions, gifts, grants paid | $27,000 |
| Total expenses and disbursements | $28,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,959 |
| 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 | $600,086 |
| 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 First Bank Foundation has awarded $27,000 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
MCARN COMMUNITY MINISTRY PURPOSE: OPERATING FUND | $2,000 |
CHERAW RESCUE SQUAD PURPOSE: OPERATING FUND | $500 |
CHESTERFIELD FIRE DEPARTMENT PURPOSE: OPERATING FUND | $500 |
GIRL SCOUT COUNCIL OF PEE DEE AREA PURPOSE: OPERATING FUND | $250 |
PEE DEE AREA COALITION AGAINST DOMESTIC & SEXUAL-C PURPOSE: OPERATING FUND | $1,000 |
ST DAVID'S CEMETERY ASSOC INC PURPOSE: OPERATING FUND | $1,000 |