Harold H Bate Foundation Inc
- Assets
- $27.3m
- Revenue
- $823.0k
- Investments
- $24.7m
- Employees
- 0
- Location
- New Bern, NC
- Founding
- 05/1999
- Data as of
- 12/2022
- EIN
- 56-2121302
Organization Overview
Harold H Bate Foundation Inc is located in New Bern, NC. The organization was established in 1999. 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. Harold H Bate 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, Harold H Bate Foundation Inc generated $823.0k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Harold H Bate Foundation Inc has awarded 678 individual grants totaling $14,438,865. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Baldree Sr Board Member | 3 | $9,000 | |
Donald Brinkley Board Member | 6 | $28,750 | |
Robert Mattocks Board Member | 3 | $9,000 | |
Marvin Mullinix Board Member | 3 | $9,000 | |
Silas Seymour Board Member | 3 | $9,000 | |
David Hinson Jr Board Member | 3 | $9,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley Financial Advisors | 12/30/20 | $82,329 |
Stifel Financial Advisors | 12/30/20 | $58,681 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $100,000 |
| Interest on Savings | $74,105 |
| Dividends & Interest | $575,016 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $73,862 |
| Capital Gain Net Income | $73,862 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $822,983 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $73,750 |
| Other employee salaries and wages | $46,095 |
| Pension plans, employee benefits | $7,534 |
| Interest | $0 |
| Taxes | $19,724 |
| Depreciation | $7,943 |
| Occupancy | $4,295 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $47,835 |
| Total operating and administrative expenses | $395,040 |
| Contributions, gifts, grants paid | $1,547,864 |
| Total expenses and disbursements | $1,942,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $192,304 |
| Savings and temporary cash investments | $2,059,009 |
| 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 | $222,036 |
| Other assets | $43,280 |
| Total assets | $27,250,641 |
| 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 | $2,631 |
| Total liabilities | $2,631 |
Grants Awarded
Over the last fiscal year, Harold H Bate Foundation Inc has awarded $1,547,864 in support to 68 organizations.
| Grant Recipient | Amount |
|---|---|
ABUNDANT LIFE COMMUNITY SERVICES PURPOSE: DUFFYFIELD RESOURCE HUB | $10,000 |
7TH NATION WARRIORS PURPOSE: DONATION | $500 |
ALLIES FOR CHERRY POINT'S TOMORROW PURPOSE: DONATION | $1,000 |
AMERICAN RED CROSS PURPOSE: HOME FIRE RELIEF | $15,000 |
AMERICAN CANCER SOCIETY PURPOSE: 20TH ANNIVERSARY OF THE MCCONNELL-RAAB HOPE LODGE IN GRENVILLE - PROVIDING FREE LODGING FOR CANCER PATIENTS AND CAREGIVERS TRAVELING FOR TREATMENT. | $7,500 |
BACKPACK BLESSINGS INC PURPOSE: SERVING GOD IN EASTERN NORTH CAROLINA BY FEEDING CHILDREN WHO SUFFER FROM FOOD INSECURITY IN THEIR HOMES. | $25,000 |