Barnet Foundation Trust Inc
- Assets
- $3.0m
- Revenue
- $39.5k
- Investments
- $3.0m
- Employees
- 0
- Location
- Spartanburg, SC
- Founding
- 01/1999
- Data as of
- 12/2021
- EIN
- 58-2319535
Organization Overview
Barnet Foundation Trust Inc is located in Spartanburg, SC. The organization was established in 1999. 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. Barnet Foundation Trust 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, Barnet Foundation Trust Inc generated $39.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.1%) each year. All expenses for the organization totaled $489.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Barnet Foundation Trust Inc has awarded 82 individual grants totaling $2,067,574. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CHARITABLE AND PHILANTHROPIC ENDEAVORS IN SUPPORT OF AND IN CONJUNCTION WITH THE SPARTANBURG COUNTY FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO SUPPORT PHILANTHROPIC ENDEAVORS IN SPARTANBURG COUNTY IN SUPPORT OF THE SPARTANBURG COUNTY FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Barnet III Chairman | OfficerTrustee | 1 | $0 |
Valerie Barnet President | OfficerTrustee | 1 | $0 |
Katherine A Dunleavy VP | OfficerTrustee | 1 | $0 |
John S Mcbride Jr VP | OfficerTrustee | 1 | $0 |
Darlene Hemphill Secretary | OfficerTrustee | 1 | $0 |
Mary Rebecca Barnet Director | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $43,688 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,195 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,493 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $457,877 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $30,533 |
| 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 | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $641 |
| Total functional expenses | $489,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Investments—other securities | $3,031,341 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,031,341 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $3,031,341 |
| 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 | $3,031,341 |
Grants Awarded
Over the last fiscal year, Barnet Foundation Trust Inc has awarded $404,638 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Spartanburg, SC PURPOSE: GENERAL SUPPORT | $142,858 |
Spartanburg, SC PURPOSE: GENERAL SUPPORT | $103,333 |
Spartanburg, SC PURPOSE: GENERAL SUPPORT | $50,000 |
Spartanburg, SC PURPOSE: GENERAL SUPPORT | $25,000 |
SPARTANBURG SCHOOL DISTRICT SEVEN PURPOSE: GENERAL SUPPORT | $17,447 |
SPARTANBURG COUNTY SCHOOL DISTRICT 7 PURPOSE: GENERAL SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
The Murray & Sydell Rosenberg Foundation Inc Atlanta, GA | $5,561,714 | $74,985,544 |
Joseph B Whitehead Foundation Atlanta, GA | $148,285,590 | $58,163,845 |
Winshape Foundation Inc Atlanta, GA | $1,733,664,901 | $22,099,572 |
A Good Name Foundation Inc Atlanta, GA | $709,299,721 | $33,917,740 |
Jane Woodruff Foundation Inc Atlanta, GA | $0 | $54,999,988 |
Ups Foundation Inc Atlanta, GA | $8,317,427 | $54,799,163 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |
Goizueta Foundation Inc Atlanta, GA | $444,757,286 | $34,966,270 |
The Leon Levine Foundation Charlotte, NC | $654,368,860 | $94,686,429 |
We Are Sharing Hope Sc Charleston, SC | $50,025,063 | $34,221,211 |