The Springs Close Foundation Inc
- Assets
- $40.9m
- Revenue
- $10.1m
- Investments
- $36.6m
- Employees
- 0
- Location
- Fort Mill, SC
- Founding
- 06/1944
- Data as of
- 12/2021
- EIN
- 57-0426344
Organization Overview
The Springs Close Foundation Inc is located in Fort Mill, SC. The organization was established in 1944. 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. Springs Close 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 12/2021, Springs Close Foundation Inc generated $10.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 50.8% each year . All expenses for the organization totaled $6.9m during the year ending 12/2021. While expenses have increased by 37.8% 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.
Since 2020, Springs Close Foundation Inc has awarded 251 individual grants totaling $8,136,991. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NO DIRECT CHARITABLE ACTIVITIES - SEE SCHEDULE 2 FOR DETAILS OF FOUNDATION'S CHARITABLE GRANT ACTIVITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Lineberger Executive Director | 40 | $56,515 | |
D Peyton Worley Vice President/treasurer | 4 | $0 | |
Catherine Higgins Director | 0.01 | $0 | |
H William Close Jr Chairman Of The Board | 0.01 | $0 | |
Nikki Godfrey-Hill Director | 0.01 | $0 | |
Greg Close Director | 0.01 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6,487,448 |
| Interest on Savings | $67,440 |
| Dividends & Interest | $417,492 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,089,908 |
| Capital Gain Net Income | $3,094,908 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $165 |
| Total Revenue | $10,062,453 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $56,515 |
| Other employee salaries and wages | $88,490 |
| Pension plans, employee benefits | $17,830 |
| Interest | $0 |
| Taxes | $72,715 |
| Depreciation | $28,778 |
| Occupancy | $15,553 |
| Travel, conferences, and meetings | $5,053 |
| Printing and publications | $0 |
| Other expenses | $119,693 |
| Total operating and administrative expenses | $517,645 |
| Contributions, gifts, grants paid | $6,400,656 |
| Total expenses and disbursements | $6,918,301 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,621,041 |
| 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 | $844,541 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $36,605,534 |
| Net Land, buildings, and equipment | $90,704 |
| Other assets | $1,734,417 |
| Total assets | $40,896,237 |
| Accounts payable and accrued expenses | $48,173 |
| Grants payable | $235,000 |
| 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 | $283,173 |
Grants Awarded
Over the last fiscal year, The Springs Close Foundation Inc has awarded $6,614,157 in support to 117 organizations.
| Grant Recipient | Amount |
|---|---|
ASC GREENWAY ENDOWMENT PURPOSE: RECREATION AND ENVIRONMENT | $5,000,000 |
TOWN OF KERSHAW PURPOSE: EMERGENCY NEED BASED GRANTS | $100,000 |
CHESTER COUNTY SCHOOL DISTRICT PURPOSE: EMERGENCY NEED BASED GRANTS | $75,250 |
LANCASTER COUNTY FIRST STEPS PURPOSE: EMERGENCY NEED BASED GRANTS | $72,963 |
WINTHROP UNIVERSITY PURPOSE: PUBLIC EDUCATION AND EARLY CHILDHOOD DEVELOPMENT | $70,000 |
FORT MILL SCHOOL DISTRICT PURPOSE: EMERGENCY NEED BASED GRANTS | $64,350 |
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 |