Joseph C Bancroft Charitable & Educational Fund
- Assets
- $193.9m
- Revenue
- $6.2m
- Investments
- $143.3m
- Employees
- 0
- Location
- Mccomb, MS
- Founding
- 08/1998
- Data as of
- 12/2022
- 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 12/2022, Joseph C Bancroft Charitable & Educational Fund generated $6.2m 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 (19.0%) each year. All expenses for the organization totaled $4.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (21.6%) per year over the past 8 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 22 individual grants totaling $9,946,316. 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
2022
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.
UNIVERSITY OF MISSISSIPPI SCHOOL OF ACCOUNTANCY - FOR CONSTRUCTION OF THE PATTERSON SCHOOL OF ACCOUNTANCY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert M Bird Director | OfficerTrustee | 30 | $141,250 |
Tom A Abdalla Director, Sec & Treas | OfficerTrustee | 60 | $141,250 |
Gerald M Abdalla Jr Director | Trustee | 50 | $328,750 |
Gerald M Abdalla President, Director | OfficerTrustee | 50 | $141,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $225,726 |
| 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 | $225,726 |
| Total Program Service Revenue | $0 |
| Investment income | $2,046,174 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,296 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,908,367 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,181,563 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,352,000 |
| 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. | $752,500 |
| 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 | $33,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,880 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $552 |
| 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 | $740 |
| All other expenses | $0 |
| Total functional expenses | $4,434,870 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,270,967 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,320,000 |
| 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 | $143,311,296 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $193,902,263 |
| 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 | $16,751,747 |
| Total liabilities | $16,751,747 |
| 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 | $177,150,516 |
| Total liabilities and net assets/fund balances | $193,902,263 |
Grants Awarded
Over the last fiscal year, Joseph C Bancroft Charitable & Educational Fund has awarded $1,352,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CROFT INSTITUTE FOR INTERNATIONAL STUDIES PURPOSE: OPERATIONAL SUPPORT | $1,102,000 |
UNIVERSIFY OF MISSISSIPPI SCHOOL OF ACCOUNTING PURPOSE: OPERATIONAL SUPPORT | $250,000 |