Arkwright Foundation
- Assets
- $17.6m
- Revenue
- $1.4m
- Investments
- $16.4m
- Employees
- 0
- Location
- Spartanburg, SC
- Founding
- 06/1949
- Data as of
- 12/2022
- EIN
- 57-6000066
Organization Overview
Arkwright Foundation is located in Spartanburg, SC. The organization was established in 1949. 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. Arkwright 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 12/2022, Arkwright Foundation generated $1.4m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Arkwright Foundation has awarded 389 individual grants totaling $3,163,010. 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 |
|---|---|---|---|
Ml Cates Sr Chairman | 0.5 | $0 | |
Walter S Montgomery Jr Vice Chairman | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $70,527 |
| Dividends & Interest | $359,593 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $966,044 |
| Capital Gain Net Income | $966,044 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $16,429 |
| Total Revenue | $1,412,593 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,777 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $73,458 |
| Total operating and administrative expenses | $140,784 |
| Contributions, gifts, grants paid | $997,045 |
| Total expenses and disbursements | $1,137,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,169,913 |
| 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 | $5,603,219 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $17,610,172 |
| 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 | $8,503 |
| Total liabilities | $8,503 |
Grants Awarded
Over the last fiscal year, Arkwright Foundation has awarded $997,045 in support to 97 organizations.
| Grant Recipient | Amount |
|---|---|
A LIGHT UNTO MY PATH PURPOSE: GENERAL OPERATING SUPPORT | $500 |
ADULT LEARNING CENTER PURPOSE: GENERAL OPERATING SUPPORT | $500 |
ALZHEIMER'S ASSOCIATION - SPARTANBURG PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
ANGELS CHARGE MINISTRY PURPOSE: GENERAL OPERATING SUPPORT | $6,000 |
AMERICAN RED CROSS PURPOSE: GENERAL OPERATING SUPPORT | $6,000 |
ARTISTS COLLECTIVESPARTANBURG PURPOSE: GENERAL OPERATING SUPPORT | $2,500 |