Ceres Foundation Inc
- Assets
- $28.0m
- Revenue
- $2.5m
- Investments
- $23.7m
- Employees
- 0
- Location
- Charleston, SC
- Founding
- 11/1999
- Data as of
- 12/2021
- 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 12/2021, Ceres Foundation Inc generated $2.5m 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 (3.4%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ceres Foundation Inc has awarded 394 individual grants totaling $6,590,992. 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 | $154,201 |
| Dividends & Interest | $578,035 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,706,763 |
| Capital Gain Net Income | $1,706,763 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $13,071 |
| Total Revenue | $2,452,070 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $148,557 |
| Other employee salaries and wages | $15,113 |
| Pension plans, employee benefits | $38,000 |
| Interest | $0 |
| Taxes | $30,863 |
| Depreciation | $63,945 |
| Occupancy | $31,802 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $129,412 |
| Total operating and administrative expenses | $741,225 |
| Contributions, gifts, grants paid | $1,038,500 |
| Total expenses and disbursements | $1,779,725 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,100 |
| Savings and temporary cash investments | $1,672,182 |
| 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 | $8,849,473 |
| Net Land, buildings, and equipment | $1,795,556 |
| Other assets | $753,704 |
| Total assets | $27,950,946 |
| 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 | $3,855 |
| Total liabilities | $3,855 |
Grants Awarded
Over the last fiscal year, Ceres Foundation Inc has awarded $1,038,500 in support to 75 organizations.
| Grant Recipient | Amount |
|---|---|
Charleston, SC PURPOSE: GENERAL FUND | $250,000 |
Kansas City, MO PURPOSE: GENERAL FUND | $60,000 |
NUVANCE HEALTH NETWORK PURPOSE: GENERAL FUND | $50,000 |
FENNELL ELEMENTARY SCHOOL PURPOSE: PER PROPOSAL | $40,000 |
New York, NY PURPOSE: GENERAL FUND | $25,000 |
Roanoke, VA PURPOSE: MEM OF DDT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
Drs Bruce & Lee Foundation Florence, SC | $254,078,574 | $12,559,871 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
Mary Reynolds Babcock Foundation Incorporated Winstonsalem, NC | $253,832,619 | $55,868,843 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |
The Merancas Foundation Inc Charlotte, NC | $181,742,490 | $364,669,812 |
Anverse Inc Cartersville, GA | $0 | $25,436,325 |
Cannon Foundation Inc Concord, NC | $297,494,035 | $30,471,430 |
Uga Real Estate Foundation Inc Athens, GA | $310,229,529 | $14,839,274 |