John H Wellons Foundation Inc
- Assets
- $22.8m
- Revenue
- $1.8m
- Investments
- $8.4m
- Employees
- 76
- Location
- Dunn, NC
- Founding
- 10/1953
- Data as of
- 12/2023
- EIN
- 56-6061476
Organization Overview
John H Wellons Foundation Inc is located in Dunn, NC. The organization was established in 1953. 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. As of 12/2023, John H Wellons Foundation Inc employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. John H Wellons 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 12/2023, John H Wellons Foundation Inc generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CHARITABLE GIVING, STUDENT LOANS, ELDERLY HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELDERLY HOUSING - PROVIDE AND SUPPORT AVAILABILITY OF REDUCED RENTAL HOUSING FOR ELDERLY PERSONS (40 UNITS OPERATED, 21 PROJECTS SPONSORED IN OPERATION, SEVERAL IN DEVELOPMENT).
THRIFT STORE - OPERATES A THRIFT STORE WHICH ACCEPTS, THEN SELLS, ITEMS CONTRIBUTED. PROCEEDS ARE USED TO ASSIST IN FINANCING OTHER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sylvia W Craft Pres./director | Trustee | 0 | $0 |
Gene T Jernigan V. Pres./director | Trustee | 0 | $0 |
Leigh Anna W Thompson Secr./tr./director | Trustee | 0 | $0 |
Andrea C Howard Director | Trustee | 0 | $0 |
Lauren W White Asst. Sec/treas/director | Trustee | 0 | $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 | $1,301,549 |
| Investment income | $205,882 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $150,225 |
| 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 | $1,824,812 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $569,602 |
| Pension plan accruals and contributions | $12,533 |
| Other employee benefits | $62,386 |
| Payroll taxes | $41,752 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $65 |
| Fees for services: Accounting | $5,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $54,502 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,692 |
| Travel | $32,628 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,942 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $68,349 |
| Insurance | $19,155 |
| All other expenses | $0 |
| Total functional expenses | $1,130,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,017,499 |
| Savings and temporary cash investments | $1,051,720 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $82,590 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $18,769 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,575 |
| Net Land, buildings, and equipment | $1,555,660 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,377,692 |
| Investments—program-related | $1,528,766 |
| Intangible assets | $0 |
| Other assets | $117,582 |
| Total assets | $22,778,853 |
| Accounts payable and accrued expenses | $156,338 |
| 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 | $0 |
| Other liabilities | $3,879 |
| Total liabilities | $160,217 |
| Net assets without donor restrictions | $22,618,636 |
| 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 | $22,778,853 |