Joseph C Bancroft Charitable & Educational Fund
- Assets
- $195.7m
- Revenue
- $4.3m
- Investments
- $102.8m
- Employees
- 0
- Location
- Mccomb, MS
- Founding
- 08/1998
- Data as of
- 12/2021
- EIN
- 58-2340181
Organization Overview
Joseph C Bancroft Charitable & Educational Fund is located in Mccomb, MS. The organization was established in 1998. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Joseph C Bancroft Charitable & Educational Fund 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, Joseph C Bancroft Charitable & Educational Fund generated $4.3m 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 (25.3%) each year. All expenses for the organization totaled $3.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (25.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Joseph C Bancroft Charitable & Educational Fund has awarded 20 individual grants totaling $8,594,316. 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
TO SUPPORT CHARITABLE AND EDUCATIONAL ORGANIZATIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
CROFT INSTITUTE FOR INTERNATIONAL STUDIES - THE FUND CONTRIBUTES A SUBSTANTIAL PORTION OF THE COST TO OPERATE THE INSTITUTE. THE CROFT INSTITUTE FOR INTERNATIONAL STUDIES, A 501(C)3 ORGANIZATION, PROVIDES FOR THE STUDY OF INTERNATIONAL CULTURES, BUSINESSES, LANGUAGES, POLITICS AND OTHER AFFAIRS THROUGH ITS AFFILIATION WITH THE UNIVERSITY OF MISSISSIPPI. THE INSTITUTE'S PRINCIPAL OBJECTIVE IS TO PREPARE STUDENTS FOR A FUTURE OF GLOBAL INTERDEPENDENCE AMONG NATIONS, BUSINESSES AND OTHER SOCIETAL INSTITUTIONS.
MINOR CONTRIBUTIONS TO OTHER 501C(3) ORGANIZATIONS FOR USE BY THOSE ORGANIZATIONS IN PURSUIT OF THEIR EXEMPT PURPOSES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald M Abdalla President, Director | OfficerTrustee | 50 | $130,000 |
Tom A Abdalla Director, Sec & Treas | OfficerTrustee | 60 | $130,000 |
Robert M Bird Director | OfficerTrustee | 30 | $130,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $228,662 |
| 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 | $228,662 |
| Total Program Service Revenue | $0 |
| Investment income | $1,010,578 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $202 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,096,686 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,336,128 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,050,575 |
| 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. | $732,500 |
| 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 | $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 | $35,008 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $430 |
| 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 | $1,159 |
| All other expenses | $0 |
| Total functional expenses | $3,940,753 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,640,015 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,290,085 |
| 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 | $102,758,063 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $195,688,163 |
| 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 | $14,530,246 |
| Total liabilities | $14,530,246 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $181,157,917 |
| Total liabilities and net assets/fund balances | $195,688,163 |
Grants Awarded
Over the last fiscal year, Joseph C Bancroft Charitable & Educational Fund has awarded $1,318,096 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
University, MS PURPOSE: OPERATIONAL SUPPORT | $1,068,096 |
UNIVERSITY OF MISSISSIPPI MEDICAL SCHOOL PURPOSE: GENERAL SUPPORT | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lucille S Beeson Charitable Remainder 66 1055001761 Birmingham, AL | $200,434,362 | $15,901,903 |
Willis And Reba Johnsons Foundation Franklin, TN | $17,058,167 | $2,077,347 |
Joseph C Bancroft Charitable & Educational Fund Mccomb, MS | $195,688,163 | $4,336,128 |
Mssa Ila Vacation Plan And Trust Mobile, AL | $2,494,985 | $3,007,833 |
Wilbur Marvin Foundation Baton Rouge, LA | $117,329,503 | -$1,003,490 |
Ratliff Charitable Foundation Birmingham, AL | $0 | $1,321,337 |
Charles Henderson Tr No 3 Uw Troy, AL | $18,182,356 | $1,886,936 |
John Dustin Buckman Charitable Trust Memphis, TN | $21,180,469 | $1,024,757 |
Hugo Dixon Foundation Memphis, TN | $20,406,138 | $1,401,485 |
Om Charitable Tr Of Usa Lebanon, TN | $987,131 | $2,115,299 |
Alabama Business Charitable Trust Fund Inc Birmingham, AL | $38,052,210 | $3,513,534 |
Woolworth Foundation Shreveport, LA | $17,675,910 | $1,134,153 |