Reidsville Area Foundation Inc
- Assets
- $33.8m
- Revenue
- $3.6m
- Investments
- $32.7m
- Employees
- 0
- Location
- Reidsville, NC
- Founding
- 06/2001
- Data as of
- 09/2022
- EIN
- 56-2255809
Organization Overview
Reidsville Area Foundation Inc is located in Reidsville, NC. The organization was established in 2001. 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. Reidsville Area 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 09/2022, Reidsville Area Foundation Inc generated $3.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $2.1m during the year ending 09/2022. While expenses have increased by 1.4% 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 2017, Reidsville Area Foundation Inc has awarded 536 individual grants totaling $12,294,112. 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
N/A
N/A
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dawn Charaba Executive Director | 32 | $95,172 | |
Cheri Barrett Director, Chair | 1 | $0 | |
Kirk Smith Director, Treasurer | 1 | $0 | |
Belinda Foster Director | 1 | $0 | |
David French Director | 1 | $0 | |
Nadine Jansen Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $60,975 |
| Interest on Savings | $0 |
| Dividends & Interest | $964,763 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,538,053 |
| Capital Gain Net Income | $2,587,966 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,563,791 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $95,172 |
| Other employee salaries and wages | $93,106 |
| Pension plans, employee benefits | $34,448 |
| Interest | $21,025 |
| Taxes | $0 |
| Depreciation | $37,909 |
| Occupancy | $7,329 |
| Travel, conferences, and meetings | $19,193 |
| Printing and publications | $0 |
| Other expenses | $71,633 |
| Total operating and administrative expenses | $678,833 |
| Contributions, gifts, grants paid | $1,395,676 |
| Total expenses and disbursements | $2,074,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,832 |
| Savings and temporary cash investments | $29,933 |
| Net Accounts receivable | $633 |
| 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 | $4,471 |
| Net Investments - land, buildings, equipment | $996,953 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,759,231 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $54,978 |
| Total assets | $33,823,448 |
| Accounts payable and accrued expenses | $3,569 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $632,961 |
| Other liabilities | $1,535 |
| Total liabilities | $638,065 |
Grants Awarded
Over the last fiscal year, Reidsville Area Foundation Inc has awarded $1,478,176 in support to 54 organizations.
| Grant Recipient | Amount |
|---|---|
ROCKINGHAM COMMUNITY COLLEGE PURPOSE: SUPPORT THE CHARITABLE MISSION OF THE RECIPIENT ORGANIZATION | $231,866 |
ROCKINGHAM COUNTY GOVERNMENT PURPOSE: SUPPORT THE CHARITABLE MISSION OF THE RECIPIENT ORGANIZATION | $187,500 |
ROCKINGHAM COUNTY GOVERNMENT PURPOSE: SUPPORT THE CHARITABLE MISSION OF THE RECIPIENT ORGANIZATION | $187,500 |
ROCK CTY SCHOOLS - REIDSVILLE HIGH SCHOOL PURPOSE: SUPPORT THE CHARITABLE MISSION OF THE RECIPIENT ORGANIZATION | $150,250 |
CITY OF REIDSVILLE PURPOSE: SUPPORT THE CHARITABLE MISSION OF THE RECIPIENT ORGANIZATION | $150,000 |
THE NEW REIDSVILLE HOUSING AUTHORITY PURPOSE: SUPPORT THE CHARITABLE MISSION OF THE RECIPIENT ORGANIZATION | $101,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
The Haslam 3 Foundation Inc Knoxville, TN | $5,285,692 | $10,045,433 |
Phil J And Alice S Sheridan Foundation Inc Macon, GA | $17,357,251 | $6,663,970 |
Davis Love Iii Foundation St Simons Island, GA | $5,238,841 | $10,992,325 |
Scarlett Family Foundation Nashville, TN | $163,054,305 | $18,551,241 |
Manning Family Foundation Charlottesville, VA | $313,144,000 | $17,216,650 |
Fellowship Foundation Inc Arlington, VA | $7,901,984 | $7,885,643 |