The W S Wellons Foundation
- Assets
- $522.7k
- Revenue
- $94.4k
- Investments
- $135.2k
- Employees
- 0
- Location
- Spring Lake, NC
- Founding
- 06/1984
- Data as of
- 12/2021
- EIN
- 58-1537766
Organization Overview
The W S Wellons Foundation is located in Spring Lake, NC. The organization was established in 1984. 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. W S Wellons 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, W S Wellons Foundation generated $94.4k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 21.0% each year . All expenses for the organization totaled $90.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W S Wellons Jr Chairman | 2 | $40,000 | |
Judy Wellons Secretary | 1 | $10,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1 |
| Dividends & Interest | $8,384 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $86,063 |
| Capital Gain Net Income | $86,063 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $94,448 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $50,000 |
| Other employee salaries and wages | $6,000 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,068 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $414 |
| Total operating and administrative expenses | $71,286 |
| Contributions, gifts, grants paid | $19,500 |
| Total expenses and disbursements | $90,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,392 |
| 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 | $613 |
| Net Investments - land, buildings, equipment | $333,500 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $522,702 |
| Accounts payable and accrued expenses | $6,184 |
| 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 | $6,184 |
Grants Awarded
Over the last fiscal year, The W S Wellons Foundation has awarded $19,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
NORTHWOOD TEMPLE PURPOSE: GENERAL FUND | $5,000 |
FALCON CHILDRENS HOME PURPOSE: GENERAL FUND | $5,000 |
Franklin Springs, GA PURPOSE: BUILDING | $5,000 |
AIRBORNE & SPECIAL OPERATIONS MUSEU PURPOSE: GENERAL FUND | $2,500 |
Fayetteville, NC PURPOSE: ARBOR | $1,000 |
METHODIST UNIVERSITY PURPOSE: SCHOLARSHIP | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robins Foundation Richmond, VA | $182,936,779 | $19,761,890 |
Virginia Institute Of Autism Incorporated Charlottesville, VA | $13,400,970 | $11,731,710 |
Joe C Davis Foundation Nashville, TN | $101,782,891 | $6,182,733 |
Fraser-Parker Foundation Atlanta, GA | $226,420,772 | $14,099,479 |
Paces Foundation Inc Smyrna, GA | $85,397,872 | $9,603,919 |
Gambrell Foundation Charlotte, NC | $0 | $18,901,501 |
The Ma-Ran Foundation Atlanta, GA | $81,838,064 | $4,938,726 |
Day Foundation Memphis, TN | $0 | $13,711,953 |
Clayton Family Foundation Knoxville, TN | $90,913,195 | $17,391,150 |
Affordable Housing Opportunity Fund Inc Charlottesville, VA | $703,537 | $6,974,715 |
G Harbaugh Foundation Franklin, TN | $61,708,468 | $12,393,056 |
Robert H Smith Family Foundation Arlington, VA | $10,315,724 | -$3,599,936 |