Chapin Foundation Of Myrtle Beach Sc
- Assets
- $13.9m
- Revenue
- $2.9m
- Investments
- $11.5m
- Employees
- 1
- Location
- Myrtle Beach, SC
- Founding
- 05/1945
- Data as of
- 12/2021
- EIN
- 56-6039453
Organization Overview
Chapin Foundation Of Myrtle Beach Sc is located in Myrtle Beach, SC. The organization was established in 1945. 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. Chapin Foundation Of Myrtle Beach SC 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, Chapin Foundation Of Myrtle Beach SC generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.3%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Chapin Foundation Of Myrtle Beach SC has awarded 69 individual grants totaling $5,808,361. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FUNDS TO SUPPORT VARIOUS ORGANIZATIONS IN MYRTLE BEACH SC AND LIMITED SURROUNDING AREAS. ORGANIZATIONS THAT ARE FUNDED MUST BE MEMBERS OF THE FOLLOWING CLASS OF BENEFICIARIES NAMED IN THE GOVERNING DOCUMENT: YMCA/YWCA, CHURCHES, HEALTH CARE FACILITIES, PUBLIC LIBRARIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHAPIN FOUNDATION OF MYRTLE BEACH SC PROVIDES FUNDS TO SUPPORT VARIOUS ORGANIZATIONS IN MYRTLE BEACH SC AND LIMITED SURROUNDING AREAS. ORGANIZATIONS THAT ARE FUNDED MUCH BE MEMBERS OF THE FOLLOWING CLASS OF BENEFICIARIES NAMED IN THE GOVERNING DOCUMENT: YMCA/YWCA, CHURCHES, PUBLIC HEALTH ORGANIZATIONS, PUBLIC LIBRARIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tory Mackey Executive Director | Officer | 40 | $75,000 |
E Lawton Benton Chair | OfficerTrustee | 2 | $0 |
Edwin Hinds Secretary | OfficerTrustee | 2 | $0 |
Albert Springs Treasurer | OfficerTrustee | 2 | $0 |
Ruth T Gore Director | Trustee | 2 | $0 |
Carolyn Lund Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $2,910,170 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,910,170 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,468,060 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $75,000 |
| Compensation of current officers, directors, key employees. | $30,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,989 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,746 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $29,911 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $32,189 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,300 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,640,195 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,600 |
| Savings and temporary cash investments | $2,327,018 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,356 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,530,817 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,865,791 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $15,600 |
| Other liabilities | $0 |
| Total liabilities | $15,600 |
| Net assets without donor restrictions | $13,850,191 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,865,791 |
Grants Awarded
Over the last fiscal year, Chapin Foundation Of Myrtle Beach Sc has awarded $1,257,500 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST PRESBYTERIAN CHURCH PURPOSE: Support | $1,000,000 |
Myrtle Beach, SC PURPOSE: Support | $70,000 |
N Charleston, SC PURPOSE: Support | $50,000 |
Myrtle Beach, SC PURPOSE: Support | $25,000 |
ST JOHN THE BAPTIST GREEK ORTHODOX CHURCH PURPOSE: Support | $20,000 |
Washington, DC PURPOSE: Support | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
Drs Bruce & Lee Foundation Florence, SC | $254,078,574 | $12,559,871 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
Mary Reynolds Babcock Foundation Incorporated Winstonsalem, NC | $253,832,619 | $55,868,843 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |
The Merancas Foundation Inc Charlotte, NC | $181,742,490 | $364,669,812 |
Anverse Inc Cartersville, GA | $0 | $25,436,325 |
Cannon Foundation Inc Concord, NC | $297,494,035 | $30,471,430 |
Uga Real Estate Foundation Inc Athens, GA | $310,229,529 | $14,839,274 |