Ceres Foundation Inc
- Assets
- $27.9m
- Revenue
- $1.8m
- Investments
- $23.5m
- Employees
- 0
- Location
- Charleston, SC
- Founding
- 11/1999
- Data as of
- 12/2022
- EIN
- 58-2479387
Organization Overview
Ceres Foundation Inc is located in Charleston, 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. Ceres 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, Ceres Foundation Inc generated $1.8m 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 (6.7%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ceres Foundation Inc has awarded 431 individual grants totaling $7,582,230. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen L Gavel President/exec. Director | 30 | $148,557 | |
Frank Gavel Jr Secretary/vice President | 2 | $0 | |
Linda Gavel Webb Treasurer/vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $182,279 |
| Dividends & Interest | $582,514 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,019,328 |
| Capital Gain Net Income | $1,019,328 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,701 |
| Total Revenue | $1,792,822 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $148,557 |
| Other employee salaries and wages | $15,463 |
| Pension plans, employee benefits | $38,000 |
| Interest | $0 |
| Taxes | $57,956 |
| Depreciation | $64,709 |
| Occupancy | $51,709 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $158,860 |
| Total operating and administrative expenses | $806,010 |
| Contributions, gifts, grants paid | $991,238 |
| Total expenses and disbursements | $1,797,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,223 |
| Savings and temporary cash investments | $1,919,420 |
| 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 | $7,722,041 |
| Net Land, buildings, and equipment | $1,742,343 |
| Other assets | $762,433 |
| Total assets | $27,946,564 |
| 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 | $3,899 |
| Total liabilities | $3,899 |
Grants Awarded
Over the last fiscal year, Ceres Foundation Inc has awarded $991,238 in support to 37 organizations.
| Grant Recipient | Amount |
|---|---|
AMOS HOUSE PURPOSE: GENERAL FUND | $5,000 |
AMERICAN CANCER SOCIETY PURPOSE: CATTLE BARONS BALL | $30,000 |
ANN'S PLACE THE HOME OF I CAN PURPOSE: GENERAL FUND | $10,000 |
ABILITY BEYOND DISABILITY PURPOSE: GENERAL FUND | $5,000 |
BEST PETS PURPOSE: GENERAL FUND | $5,000 |
BEAUFORT MEMORIAL HOSPITAL FOUNDATION PURPOSE: GENERAL FUND | $5,000 |