Mary C Forbes Charitable Foundation
- Assets
- $1.1m
- Revenue
- $136.1k
- Investments
- $0.0
- Employees
- 0
- Location
- South Pasadena, FL
- Founding
- 01/1999
- Data as of
- 06/2023
- EIN
- 59-7112797
Organization Overview
Mary C Forbes Charitable Foundation is located in South Pasadena, FL. 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. Mary C Forbes Charitable 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 06/2023, Mary C Forbes Charitable Foundation generated $136.1k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $220.7k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (6.8%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mary C Forbes Charitable Foundation has awarded 56 individual grants totaling $402,650. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MARY C. FORBES CHARITABLE FOUNDATION WAS ESTABLISHED BY THE TESTAMENTARY PROVISION OF MARY C. FORBES REVOCABLE TRUST AGREEMENT. MS. FORBES WAS AN ACTIVE AND COMMITTED MEMBER OF THE ROMAN CATHOLIC CHURCH, ST. PETERSBURG DIOCESE. THE TRUST CREATED AN ONGOING FOUNDATION IN THE FORM OF A CONTINUING TRUST TO PROVIDE SCHOLARSHIPS FOR STUDENTS WHO RESIDE WITHIN THE DIOCESE OF ST. PETERSBURG AND ARE ACTIVE PRACTITIONERS OF THE ROMAN CATHOLIC FAITH FOR THE PURPOSE OF SEEKING THEIR CATHOLIC EDUCATION. THE SCHOLARSHIPS ARE AVAILABLE FOR STUDENTS RESIDING IN THE DIOCESE WHO ARE ATTENDING OR APPLYING TO CATHOLIC ELEMENTARY, MIDDLE, AND HIGH SCHOOLS. AWARD OF A GRANT IS BASED ON A VARIETY OF FACTORS INCLUDING FINANCIAL NEED AS WELL AS ACADEMIC MERIT, TAKING INTO CONSIDERDATION THE GRADE LEVEL OF THE APPLICANT. THE RECIPIENT OF A SCHOLARSHIP MUST CONTINUE TO REFLECT FINANCIAL NEED, DISPLAY ACADEMIC ACHIVEVEMENT AND CONTINUE TO ACTIVELY PRACTICE THE ROMAN CATHOLIC FAITH. THE SOLE SOURCE OF INCOME
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,390 |
| Dividends & Interest | $25,800 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $32,244 |
| Capital Gain Net Income | $4,782 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $76,654 |
| Total Revenue | $136,088 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $25,000 |
| Other employee salaries and wages | $47,500 |
| Pension plans, employee benefits | $1,990 |
| Interest | $0 |
| Taxes | $2,596 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,215 |
| Total operating and administrative expenses | $94,869 |
| Contributions, gifts, grants paid | $125,800 |
| Total expenses and disbursements | $220,669 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $105,900 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $973,644 |
| Total assets | $1,079,544 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Mary C Forbes Charitable Foundation has awarded $125,800 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
BISHOP MCLAUGHLIN CATHOLIC HIGH SCH PURPOSE: STUDENT SCHOLSHIPS | $15,500 |
CLEARWATER CENTRAL CATHOLIC HIGH SC PURPOSE: STUDENT SCHOLARSHIPS | $14,500 |
CORPUS CHRISTI CATHOLIC SCHOOL PURPOSE: STUDENT SCHOLARSHIPS | $500 |
ESPIRITU SANTO CATHOLIC SCHOOL PURPOSE: STUDENT SCHOLARSHIPS | $1,000 |
HOLY FAMILY CATHOLIC SCHOOL PURPOSE: STUDENT SCHOLARSHIPS | $500 |
NOTRE DAME CATHOLIC SCHOOL PURPOSE: STUDENT SCHOLARSHIPS | $750 |