Tappi Foundation Inc
- Assets
- $4.8m
- Revenue
- $257.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Peachtree Corners, GA
- Founding
- 08/1990
- Data as of
- 08/2023
- EIN
- 58-1886221
Organization Overview
Tappi Foundation Inc is located in Peachtree Corners, GA. The organization was established in 1990. 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. Tappi 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 08/2023, Tappi Foundation Inc generated $257.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $333.2k during the year ending 08/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SECURING THE INDUSTRYS FUTURE BY SUPPORTING STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AND INDIVIDUAL REWARDS THE TAPPI FOUNDATION AWARDS THE W. L. CULLISON SCHOLARSHIP EACH YEAR TO A STUDENT ENTERING THEIR THIRD YEAR OF COLLEGE AND SEEKING A CAREER IN THE PAPER AND COVERTING INDUSTRY. THIS TWO-YEAR SCHOLARSHIP IS WORTH 4,000 PER YEAR AND IS NAMED IN HONOR OF FORMER TAPPI EXECUTIVE DIRECTOR WILLIAM A. CULLISON. TAPPI'S TECHNICAL DIVISION SCHOLARSHIPS PROVIDE UP TO 50,000 EACH YEAR TO DESERVING STUDENTS.
OTHER DIRECT SUPPORTING EXPENSES RELATED TO PROGRAM ACTIVITIES THAT FOSTER CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PROGRAMS RELATED TO THE PULP AND PAPER INDUSTRY THE ANNUAL STUDENT SUMMIT BRINGS TOGETHER TAPPI STUDENT CHAPTER PRESIDENTS AND MEMBERS FROM ALL OVER THE COUNTRY TO SHARE IDEAS AND LEARN FROM EACH OTHER. GENERALLY HELD IN MID JANUARY, THE STUDENT SUMMIT ALSO PROVIDES AN OPPORTUNITY FOR STUDENT CHAPTER MEMBERS TO LEARN MORE ABOUT CAREER OPPORTUNITIES IN THE PULP, PAPER, PACKAGING, AND CONVERTING INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Montague Ex Officio | OfficerTrustee | 5 | $0 |
Peter Augustine Exec. Dir/ex | Trustee | 1 | $0 |
Don Haag Chair | OfficerTrustee | 5 | $0 |
Bob Kinstrey Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $57,484 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $57,484 |
| Total Program Service Revenue | $101,136 |
| Investment income | $98,455 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $257,075 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $92,720 |
| Grants and other assistance to domestic individuals. | $97,035 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $37,126 |
| Pension plan accruals and contributions | $9,282 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,452 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $728 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $678 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $69,201 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $17 |
| Total functional expenses | $333,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,876 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,731,016 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,771,892 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $43,784 |
| Total liabilities | $43,784 |
| Net assets without donor restrictions | -$18,418 |
| Net assets with donor restrictions | $4,746,526 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,771,892 |
Grants Awarded
Over the last fiscal year, Tappi Foundation Inc has awarded $89,720 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WESTERN MICHIGAN UNIVERSITY PURPOSE: SCHOLARSHIPS | $14,000 |
NC STATE NATURAL RESOURCES FD CAMP PURPOSE: SCHOLARSHIPS | $75,720 |