Lettie Pate Whitehead Foundation Inc
- Assets
- $821.8m
- Revenue
- $208.6m
- Investments
- $25.3m
- Employees
- 14
- Location
- Atlanta, GA
- Founding
- 05/1965
- Data as of
- 12/2023
- EIN
- 58-6012629
Organization Overview
Lettie Pate Whitehead Foundation Inc is located in Atlanta, GA. The organization was established in 1965. 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. As of 12/2023, Lettie Pate Whitehead Foundation Inc employed 14 individuals. Lettie Pate Whitehead 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 12/2023, Lettie Pate Whitehead Foundation Inc generated $208.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $65.6m during the year ending 12/2023. While expenses have increased by 5.6% per year over the past 5 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, Lettie Pate Whitehead Foundation Inc has awarded 844 individual grants totaling $231,188,770. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE EDUCATION AND CARE OF WOMEN IN NINE SOUTHEASTERN STATES. THE ORGANIZATION MAKES SCHOLARSHIP GRANTS TO SCHOOLS AND COLLEGES FOR DESERVING FEMALE STUDENTS. THE ORGANIZATION ALSO SUPPORTS SELECTED NURSING HOMES AND HOSPICES SERVING THE NEEDS OF ELDERLY WOMEN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS FOR EDUCATION. GRANTS WERE PAID TO 181 HIGHER EDUCATION INSTITUTIONS AND 13 PRIMARY/SECONDARY INSTITUTIONS IN ALABAMA, FLORIDA, GEORGIA, LOUISIANA, MISSISSIPPI, NORTH CAROLINA, SOUTH CAROLINA, TENNESSEE AND VIRGINIA. THOSE SCHOOLS USE GRANT FUNDS TO AWARD NEED-BASED SCHOLARSHIPS FOR DESERVING FEMALE STUDENTS FROM THOSE NINE STATES ACCORDING TO THE TERMS OF THE WILL THAT ESTABLISHED THE FOUNDATION. APPROXIMATELY 12,075 FEMALE STUDENTS RECEIVED FOUNDATION SCHOLARSHIP AWARDS AT THE 194 INSTITUTIONS.
GRANTS FOR THE CARE OF AGED WOMEN. GRANTS WERE PAID TO 16 HOMES, HOSPITALS OR HOSPICE SERVICES IN GEORGIA, NORTH CAROLINA, AND VIRGINIA FOR THE CARE OF AGED WOMEN ACCORDING TO THE TERMS OF THE WILL THAT ESTABLISHED THE FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lyons Gray Trustee Chairman | Trustee | 3 | $45,000 |
Bolling Spalding Trustee Vice Chairman | Trustee | 2 | $35,000 |
Herbert Claiborne III Trustee | Trustee | 2 | $35,000 |
Charlotte Hudson Alternate Trustee (elected 11/8/2023) | Trustee | 1 | $0 |
P Russell Hardin President | Officer | 5 | $93,025 |
Erik S Johnson Secretary/vice President | Officer | 5 | $54,733 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parametric Investment | 12/30/23 | $272,272 |
Gannett Welsh & Kotler Llc Investment | 12/30/23 | $123,261 |
Truist Investment | 12/30/23 | $225,199 |
Brown Brothers Harriman & Co Investment | 12/30/23 | $205,655 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| 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 | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $55,201,682 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $42,750 |
| Net Gain/Loss on Asset Sales | $153,362,456 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $208,606,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $63,956,794 |
| 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. | $328,737 |
| Compensation of current officers, directors, key employees. | $154,577 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $151,316 |
| Pension plan accruals and contributions | $17,603 |
| Other employee benefits | $38,315 |
| Payroll taxes | $17,317 |
| Fees for services: Management | $4,652 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,071 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $903,415 |
| Fees for services: Other | $17,960 |
| Advertising and promotion | $0 |
| Office expenses | $4,694 |
| Information technology | $13,785 |
| Royalties | $0 |
| Occupancy | $38,800 |
| Travel | $23,422 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,215 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,110 |
| Insurance | $5,296 |
| All other expenses | $432 |
| Total functional expenses | $65,556,781 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,586 |
| Savings and temporary cash investments | $7,571,701 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $88,227 |
| Investments—publicly traded securities | $788,766,868 |
| Investments—other securities | $25,263,399 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $104,353 |
| Total assets | $821,800,134 |
| 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 | $432 |
| Total liabilities | $432 |
| 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 | $821,799,702 |
| Total liabilities and net assets/fund balances | $821,800,134 |
Grants Awarded
Over the last fiscal year, Lettie Pate Whitehead Foundation Inc has awarded $63,956,794 in support to 210 organizations.
| Grant Recipient | Amount |
|---|---|
AUBURN UNIVERSITY FOUNDATION PURPOSE: For nursing and pre-nursing scholarships. | $162,000 |
AUBURN UNIVERSITY FOUNDATION- MONTGOMERY PURPOSE: For nursing and pre-nursing scholarships. | $117,000 |
BIRMINGHAM-SOUTHERN COLLEGE PURPOSE: For general scholarship support. | $481,000 |
HUNTINGDON COLLEGE PURPOSE: For general scholarship support. | $254,000 |
OAKWOOD UNIVERSITY PURPOSE: For general scholarship support. | $114,000 |
UNIVERSITY OF ALABAMA PURPOSE: For nursing scholarships. | $296,000 |