North Carolina Glaxosmithkline Foundation
- Assets
- $82.9m
- Revenue
- $9.2m
- Investments
- $82.3m
- Employees
- 0
- Location
- Research Triangle Park, NC
- Founding
- 11/1986
- Data as of
- 12/2021
- EIN
- 58-1698610
Organization Overview
North Carolina Glaxosmithkline Foundation is located in Research Triangle Park, NC. The organization was established in 1986. 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. North Carolina Glaxosmithkline 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, North Carolina Glaxosmithkline Foundation generated $9.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $8.1m during the year ending 12/2021. While expenses have increased by 6.5% per year over the past 7 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 2015, North Carolina Glaxosmithkline Foundation has awarded 189 individual grants totaling $21,567,832. 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 |
|---|---|---|---|
S Mark Werner Director | 0.46 | $4,000 | |
Ann B Goodnight Director | 0.46 | $4,000 | |
Shirley T Frye Director | 0.46 | $4,000 | |
Thomas R Haber Director | 0.46 | $4,000 | |
Margaret B Dardess Director | 0.46 | $4,000 | |
Paul A Holcombe Jr Secretary | 0.58 | $4,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Glaxosmithkline Inc | 12/30/21 | $671,100 |
Miller Portfolio Advisors | 12/30/21 | $130,526 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $48,791 |
| Interest on Savings | $0 |
| Dividends & Interest | $5,006,411 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,155,042 |
| Capital Gain Net Income | $4,155,042 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $9,210,244 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $44,000 |
| Other employee salaries and wages | $715,629 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $121,841 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $12,304 |
| Total operating and administrative expenses | $1,043,015 |
| Contributions, gifts, grants paid | $7,022,136 |
| Total expenses and disbursements | $8,065,151 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $520,087 |
| 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 | $82,315,970 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $113,163 |
| Total assets | $82,949,220 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $6,283,341 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $489,531 |
| Total liabilities | $6,772,872 |
Grants Awarded
Over the last fiscal year, North Carolina Glaxosmithkline Foundation has awarded $7,022,136 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
NC COMMUNITY COLLEGES FOUNDATION PURPOSE: TO SUPPORT RURAL COLLEGE NURSING EDUCATION. | $2,000,000 |
NORTH CAROLINA CENTRAL UNIVERSITY PURPOSE: FUNDING IS TO PROVIDE A SUMMER IMMERSION EXPERIENCE TO ENHANCE STEM LEARNING AND INCREASE EXPOSURE TO STEM CAREERS. | $1,849,791 |
NC ZOOLOGICAL SOCIETY PURPOSE: BUILDING THE CAPACITY FOR SELF-DIRECTED LEARNING AT THE NC ZOO. | $1,000,000 |
Raleigh, NC PURPOSE: EDUCATION AND LABOR MARKET INITIATIVE | $700,000 |
Raleigh, NC PURPOSE: SUPPORT THE LAUNCH OF A NEW FACULTY-STUDENT STEM MONITORING PROGRAM. | $240,000 |
NORTH CAROLINA A&T STATE UNIVERSITY PURPOSE: ADDENDUM TO THE NOVEMBER 4, 2020 GRANT AGREEMENT WHICH ADDS A $225,000 LUMP SUM TO BE USED OVER FIVE YEARS TO SUPPORT STUDENTS WHO NEED ASSISTANCE WITH UNFORSEEN HARDSHIPS THAT MAY PREVENT HIM OR HER FROM CONTINUING HIS OR HER EDUCATION. | $225,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
Drs Bruce & Lee Foundation Florence, SC | $254,078,574 | $12,559,871 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
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 |
Edward C And Linda Dresner Levy Foundation Reston, VA | $6,482,787 | $4,609,179 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |