Paces Foundation Inc
- Assets
- $85.4m
- Revenue
- $9.6m
- Investments
- $13.6m
- Employees
- 0
- Location
- Smyrna, GA
- Founding
- 01/1992
- Data as of
- 12/2021
- EIN
- 58-1949667
Organization Overview
Paces Foundation Inc is located in Smyrna, GA. The organization was established in 1992. 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. Paces 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 12/2021, Paces Foundation Inc generated $9.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.3% each year . All expenses for the organization totaled $9.5m during the year ending 12/2021. While expenses have increased by 25.9% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SPONSORS THE DEVELOPMENT AND OPERATION OF AFFORDABLE HOUSING FOR LOW-INCOME INDIVIDUALS IN ORDER TO MEET THE HOUSING NEEDS OF THE LOW INCOME RESIDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Du Mas President | 40 | $960,000 | |
Renee Sandell Vice-President | 40 | $299,489 | |
Michael J Bauer Development Director | 40 | $168,972 | |
Lori T Mcclure Director Of Assets | 40 | $131,489 | |
Betty Jones Board Member | 1 | $0 | |
Julie Bowen Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $290,255 |
| Interest on Savings | $1,796 |
| Dividends & Interest | $227,871 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $72,214 |
| Capital Gain Net Income | $72,214 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $9,011,783 |
| Total Revenue | $9,603,919 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $960,000 |
| Other employee salaries and wages | $1,136,833 |
| Pension plans, employee benefits | $0 |
| Interest | $2,708,672 |
| Taxes | $196,696 |
| Depreciation | $1,453,221 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $19,386 |
| Printing and publications | $0 |
| Other expenses | $2,882,418 |
| Total operating and administrative expenses | $9,447,737 |
| Contributions, gifts, grants paid | $3,645 |
| Total expenses and disbursements | $9,451,382 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,523,073 |
| Savings and temporary cash investments | $1,715,421 |
| Net Accounts receivable | $177,277 |
| 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 | $62,458 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,392,128 |
| Net Land, buildings, and equipment | $52,386,306 |
| Other assets | $15,918,491 |
| Total assets | $85,397,872 |
| Accounts payable and accrued expenses | $57,999 |
| Grants payable | $0 |
| Deferred revenue | $108,688 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $58,234,112 |
| Other liabilities | $1,196,044 |
| Total liabilities | $59,596,843 |
Grants Awarded
Over the last fiscal year, Paces Foundation Inc has awarded $35,250 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Gainesville, GA PURPOSE: HUMANITARIAN AID AND SUPPORT | $25,000 |
BROWNSVILLE ASSEMBLY OF GOD PURPOSE: HUMANITARIAN AID AND SUPPORT | $10,000 |
PEACHTREE PRESBYTERIAN CHURCH PURPOSE: HUMANITARIAN AID AND SUPPORT | $250 |
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 |
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 |
Miriam U Hoover Foundation Vero Beach, FL | $0 | $462,542 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Dr Herbert And Nicole Wertheim Family Foundation Inc Miami, FL | $42,831,898 | $5,245,016 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
The Mary Alice Fortin Foundation Palm Beach, FL | $167,401,142 | $8,209,363 |
Mary Reynolds Babcock Foundation Incorporated Winstonsalem, NC | $253,832,619 | $55,868,843 |