Coats North American Educational Foundation
- Assets
- $764.0k
- Revenue
- $85.2k
- Investments
- $761.0k
- Employees
- 0
- Location
- Kings Mountain, NC
- Founding
- 05/1968
- Data as of
- 12/2021
- EIN
- 56-6093510
Organization Overview
Coats North American Educational Foundation is located in Kings Mountain, NC. The organization was established in 1968. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coats North American Educational 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, Coats North American Educational Foundation generated $85.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $20.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2021 7 INDIVIDUALS WERE GRANTED SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eden Isbell Departed 2022 President | 0.4 | $0 | |
Cindy Shemmp Treasurer | 0.4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1 |
| Dividends & Interest | $81,853 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,323 |
| Capital Gain Net Income | $3,323 |
| Net ST Capital Gain | $3,323 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $85,177 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,112 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $59 |
| Total operating and administrative expenses | $1,171 |
| Contributions, gifts, grants paid | $19,000 |
| Total expenses and disbursements | $20,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,022 |
| 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 | $760,970 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $763,992 |
| 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, Coats North American Educational Foundation has awarded $19,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
JADON LANE PURPOSE: EDUCATIONAL SCHOLORSHIP | $4,000 |
GIOIA ROSIER PURPOSE: EDUCATIONAL SCHOLORSHIP | $4,000 |
MAKENZIE GALLAWAY PURPOSE: EDUCATIONAL SCHOLORSHIP | $4,000 |
ELIZABETH CALLOWAY PURPOSE: EDUCATIONAL SCHOLORSHIP | $2,000 |
AERYN ALLEN PURPOSE: EDUCATIONAL SCHOLORSHIP | $2,000 |
ALIAH GARCIA PURPOSE: EDUCATIONAL SCHOLORSHIP | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beemok Family Foundation Charleston, SC | $51,753,352 | $227,490 |
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Laura Holland Uzzell Foundation Morrisville, NC | $14,769,987 | $6,660,101 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |
Chi Omega Foundation Memphis, TN | $45,483,838 | $7,373,045 |
University Of West Georgia Foundation Inc Carrollton, GA | $86,140,941 | $10,389,838 |
Memphis Teacher Residency Inc Memphis, TN | $5,540,031 | $6,575,161 |
South Carolina Educational Credit For Exceptional Needs Children Fun Columbia, SC | $1,181,238 | $5,546,279 |
Coca-Cola Scholars Foundation Inc Atlanta, GA | $71,605,468 | $31,599,185 |