Marion Stedman Covington Foundation North Carolina Trust Co Ttee
- Assets
- $7.7m
- Revenue
- $775.1k
- Investments
- $7.4m
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 05/1987
- Data as of
- 12/2021
- EIN
- 56-6286555
Organization Overview
Marion Stedman Covington Foundation North Carolina Trust Co Ttee is located in Dallas, TX. The organization was established in 1987. 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. Marion Stedman Covington Foundation North Carolina Trust Co Ttee 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, Marion Stedman Covington Foundation North Carolina Trust Co Ttee generated $775.1k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $518.7k during the year ending 12/2021. While expenses have increased by 8.3% per year over the past 5 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 2016, Marion Stedman Covington Foundation North Carolina Trust Co Ttee has awarded 132 individual grants totaling $1,744,080. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bank Of America Trustee | 1 | $60,930 | |
Jane C Hilderbrand Chairman | 5 | $0 | |
Rodney L Swink Trustee | 5 | $0 | |
Kathleen Crockett Trustee | 5 | $0 | |
Jo Ramsey Leimenstoll Trustee | 5 | $0 | |
Steven D Schuster Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $231,757 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $540,545 |
| Capital Gain Net Income | $540,545 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,776 |
| Total Revenue | $775,078 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $60,930 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,593 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,030 |
| Total operating and administrative expenses | $123,878 |
| Contributions, gifts, grants paid | $394,800 |
| Total expenses and disbursements | $518,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $262,499 |
| 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 | $7,681,051 |
| 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, Marion Stedman Covington Foundation North Carolina Trust Co Ttee has awarded $394,800 in support to 29 organizations.
| Grant Recipient | Amount |
|---|---|
THE HISTORIC PRSERVATION FOUNDATION PURPOSE: TO SUPPORT "WE BUILT THIS | $30,000 |
Durham, NC PURPOSE: STAINED GLASS WINDOW | $21,000 |
MAGNOLIA HOUSE FOUNDATION INC PURPOSE: UNRESTRICTED GENERAL | $20,000 |
CLEVELAND COUNTY GOVERNMENT PURPOSE: UNRESTRICTED GENERAL | $20,000 |
Mocksville, NC PURPOSE: UNRESTRICTED GENERAL | $20,000 |
KINSTON ARTS COUNCIL INC PURPOSE: NEW ROOF FOR BUILDING | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brown Foundation Inc Houston, TX | $979,120,834 | $115,841,262 |
Moody Foundation Galveston, TX | $975,031,131 | $132,742,251 |
Alice L Walton Foundation Bentonville, AR | $3,555,974,062 | $449,327,995 |
Edward N And Della L Thome Memorial Foundation Dallas, TX | $16,863,248 | $21,555,807 |
Burnett Foundation Fort Worth, TX | $195,880,351 | $2,811,908 |
Jesus Fund Little Rock, AR | $476,522,715 | $128,635,887 |
Rapier Family Foundation San Antonio, TX | $15,198 | $1,321,420 |
Dan L Duncan Family Foundation Houston, TX | $0 | $27,292,814 |
Fmh Foundation Midland, TX | $321,253,044 | $148,706,487 |
Inasmuch Foundation Oklahoma City, OK | $394,422,796 | $49,887,073 |
Ting Tsung And Wei Fong Chao Foundation Houston, TX | $26,401,006 | $21,447,473 |
William K Warren Foundation Tulsa, OK | $318,898,600 | $38,179,587 |