Banksouth Foundation Ltd
- Assets
- $1.2m
- Revenue
- $54.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Greensboro, GA
- Founding
- 07/1985
- Data as of
- 12/2023
- EIN
- 58-1541701
Organization Overview
Banksouth Foundation Ltd is located in Greensboro, GA. The organization was established in 1985. 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. Banksouth Foundation Ltd 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 12/2023, Banksouth Foundation Ltd generated $54.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $86.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Banksouth Foundation Ltd has awarded 82 individual grants totaling $860,611. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONATIONS TO OTHER CHARITABLE AND GROUP ORGANIZATIONS
COMMUNITY BENEVOLENT DONATIONS
EDUCATIONAL SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harold Reynolds CEO & Direct | 0 | $0 | |
Richard Schmidt Director | 0 | $0 | |
Frances Strickland Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,395 |
| Interest on Savings | $38,742 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $54,137 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $35 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $622 |
| Total operating and administrative expenses | $1,447 |
| Contributions, gifts, grants paid | $84,780 |
| Total expenses and disbursements | $86,227 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,199,885 |
| 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 | $1,199,885 |
| 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, Banksouth Foundation Ltd has awarded $84,780 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
ATHENS ACADEMY PURPOSE: EDUCATION | $8,300 |
THILLEN EDUCATIONAL FDN PURPOSE: EDUCATIONAL SCHOLARSHIP FDN | $10,000 |
HAILEY HEINENWILLIAM & MARY PURPOSE: SCHOLARSHIP | $5,000 |
ST VINCENT DE PAUL SOC OF CHRIST PURPOSE: BENEVOLENT | $10,000 |
TRACY STROZIER FAMILY PURPOSE: BENEVOLENT | $31,480 |
TRILEA RHODESALABAMA STATE UNIV PURPOSE: SCHOLARSHIP | $5,000 |