Joseph B Whitehead Foundation
- Assets
- $161.7m
- Revenue
- $53.1m
- Investments
- $130.1m
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 06/1945
- Data as of
- 12/2022
- EIN
- 58-6001954
Organization Overview
Joseph B Whitehead Foundation is located in Atlanta, GA. The organization was established in 1945. 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. Joseph B Whitehead Foundation 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 B Whitehead Foundation generated $53.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $81.5m during the year ending 12/2022. While expenses have increased by 5.9% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Joseph B Whitehead Foundation has awarded 168 individual grants totaling $251,599,817. 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 |
|---|---|---|---|
James B Williams Trustee- Chair Emeritus | 1 | $25,000 | |
E Jenner Wood III Trustee- Chair | 3 | $35,000 | |
Lawrence L Gellerstedt III Trustee | 1 | $25,000 | |
P Russell Hardin President | 8 | $420,616 | |
Erik S Johnson Vice President & Secretary | 8 | $66,800 | |
Eli P Niepoky Treasurer | 8 | $58,450 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
T Rowe Price Associates | 12/30/22 | $121,809 |
Gannett Welsh & Kotler Llc | 12/30/22 | $107,747 |
Truist | 12/30/22 | $67,248 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $502,019 |
| Dividends & Interest | $52,351,222 |
| Net Rental Income | $42,750 |
| Net Gain on Sale of Assets | $221,159 |
| Capital Gain Net Income | $221,159 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $53,119,400 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $630,866 |
| Other employee salaries and wages | $196,726 |
| Pension plans, employee benefits | $130,489 |
| Interest | $0 |
| Taxes | $750,000 |
| Depreciation | $1,281 |
| Occupancy | $51,633 |
| Travel, conferences, and meetings | $11,440 |
| Printing and publications | $311 |
| Other expenses | $42,798 |
| Total operating and administrative expenses | $2,180,071 |
| Contributions, gifts, grants paid | $79,299,883 |
| Total expenses and disbursements | $81,479,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,607 |
| Savings and temporary cash investments | $31,326,353 |
| 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 | $71,143 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $4,678 |
| Other assets | $125,957 |
| Total assets | $161,682,970 |
| 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 | $395 |
| Total liabilities | $395 |
Grants Awarded
Over the last fiscal year, Joseph B Whitehead Foundation has awarded $90,574,883 in support to 56 organizations.
| Grant Recipient | Amount |
|---|---|
AGAPE COMMUNITY CENTER INC PURPOSE: $2.5 MILLION CAMPAIGN TO BUILD OUTDOOR SPACE, UPGRADE TECHNOLOGY, PURCHASE BUSES, AND ESTABLISH AN ENDOWMENT AND MAINTENANCE RESERVE. | $500,000 |
ATLANTA ASSOCIATION FOR CONVALESCENT AGED PERSONS INC PURPOSE: UPDATES TO RESIDENT ROOMS AS PART OF $7.3 MILLION CAPITAL CAMPAIGN. | $300,000 |
ATLANTA LAND TRUST INC PURPOSE: $11.1 MILLION CAMPAIGN TO DEVELOP PERMANENTLY AFFORDABLE HOUSING IN OAKLAND CITY AND EAST LAKE. | $500,000 |
BOYS & GIRLS CLUBS OF METRO ATLANTA PURPOSE: OPERATING SUPPORT. | $2,000,000 |
ATLANTA NEIGHBORHOOD DEVELOPMENT PARTNERSHIP INC PURPOSE: SUPPORT FOR PLAN TO ACCELERATE THE PRODUCTION OF AFFORDABLE HOUSING UNITS. | $2,000,000 |
BOYS & GIRLS CLUBS OF METRO ATLANTA PURPOSE: $27.5 MILLION CAMPAIGN TO INCREASE IMPACT. | $5,000,000 |