Redgates Foundation
- Assets
- $298.5k
- Revenue
- $63.2k
- Investments
- $262.6k
- Employees
- 0
- Location
- Winstonsalem, NC
- Founding
- 03/2004
- Data as of
- 12/2021
- EIN
- 56-2407741
Organization Overview
Redgates Foundation is located in Winstonsalem, NC. The organization was established in 2004. 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. Redgates 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 12/2021, Redgates Foundation generated $63.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 20.2% each year . All expenses for the organization totaled $46.2k during the year ending 12/2021. While expenses have increased by 2.4% per year over the past 4 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.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3 |
| Dividends & Interest | $5,612 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $57,612 |
| Capital Gain Net Income | $57,612 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $63,227 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $129 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $4,216 |
| Contributions, gifts, grants paid | $42,000 |
| Total expenses and disbursements | $46,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,859 |
| Savings and temporary cash investments | $0 |
| 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 | $298,450 |
| 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, Redgates Foundation has awarded $42,000 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
KICKSTART KIDS PURPOSE: GENERAL FUND | $5,000 |
STEP RICHMOND PURPOSE: GENERAL FUND | $4,000 |
Winston Salem, NC PURPOSE: GENERAL FUND | $3,000 |
EFFECTIVE MINISTRIES INC PURPOSE: GENERAL FUND | $3,000 |
Richmond, VA PURPOSE: GENERAL FUND | $3,000 |
Richmond, VA PURPOSE: GENERAL FUND | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fellowship Foundation Inc Arlington, VA | $7,901,984 | $7,885,643 |
Goodnight Educational Foundation Cary, NC | $149,468,750 | $4,782,379 |
Foundation For A Better World Inc Marietta, GA | $167,606,554 | $6,349,362 |
Reinhart Foundation Richmond, VA | $39,727,277 | $36,137,915 |
Charis Foundation Knoxville, TN | $16,682,566 | $7,998,986 |
Skeebo Foundation Charlotte, NC | $58,827,572 | $60,108,534 |
Darnall W Boyd Foundation Inc Columbia, SC | $0 | $6,239,520 |
Grizzard Family Foundation Inc Stone Mountain, GA | $7,597,688 | $166,630 |
Oak Hill Fund Charlottesville, VA | $99,384,131 | $7,166,197 |
Spring Foundation Inc Atlanta, GA | $104,160,284 | -$7,184,259 |
The Williams Brice Edwards Charitable Trust Sumter, SC | $57,951,375 | $6,028,487 |
The Scott Hudgens Family Foundation Inc Duluth, GA | $0 | $7,703,530 |