Jack N & Addie D Averitt Foundation Inc
- Assets
- $3.3m
- Revenue
- $196.5k
- Investments
- $3.2m
- Employees
- 0
- Location
- Statesboro, GA
- Founding
- 08/1994
- Data as of
- 12/2022
- EIN
- 58-2093653
Organization Overview
Jack N & Addie D Averitt Foundation Inc is located in Statesboro, GA. The organization was established in 1994. 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. Jack N & Addie D Averitt 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 12/2022, Jack N & Addie D Averitt Foundation Inc generated $196.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $253.7k during the year ending 12/2022. While expenses have increased by 1.0% 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathy Bradley Chair | 0 | $0 | |
Jane Jackson Highsmith Secretary | 0 | $0 | |
Albert Burke Treasurer | 0 | $0 | |
Aubrey Highsmith Director | 0 | $0 | |
Bradley W Holmes Director | 0 | $0 | |
Frank Fortune Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,206 |
| Dividends & Interest | $53,647 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $139,616 |
| Capital Gain Net Income | $139,616 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $196,469 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7,231 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $31,361 |
| Total operating and administrative expenses | $77,564 |
| Contributions, gifts, grants paid | $176,100 |
| Total expenses and disbursements | $253,664 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $95,688 |
| 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 | $1,301,024 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,592 |
| Total assets | $3,279,841 |
| 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, Jack N & Addie D Averitt Foundation Inc has awarded $176,100 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GSU FOUNDATION INC PURPOSE: EDUCATION - SCHOLARSHIPS | $94,000 |
BULLOCH COUNTY HISTORICAL SOCIETY PURPOSE: HISTORIC PRESERVATION | $82,100 |