Brown Badgett Foundation Inc
- Assets
- $8.5m
- Revenue
- $618.1k
- Investments
- $7.4m
- Employees
- 0
- Location
- Madisonville, KY
- Founding
- 04/1988
- Data as of
- 12/2023
- EIN
- 61-1129923
Organization Overview
Brown Badgett Foundation Inc is located in Madisonville, KY. The organization was established in 1988. 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. Brown Badgett 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, Brown Badgett Foundation Inc generated $618.1k 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 (20.7%) each year. All expenses for the organization totaled $575.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Brown Badgett Foundation Inc has awarded 38 individual grants totaling $1,861,611. 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
ACTIVITIES AND/OR DONATIONS ARE TO SUPPORT CHARITABLE, RELIGIOUS, SCIENTIFIC, TESTING FOR PUBLIC SAFETY, LITERARY AND OTHER EDUCATIONAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Brown Badgett Jr Director | 1 | $0 | |
Sue S Cumbee-Badgett Director | 1 | $0 | |
Oda Inglis Director | 1 | $0 | |
Calvin C Griffith Farm Manager | 0 | $57,600 | |
Laurine Davis Housekeeping | 0 | $50,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $303,173 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $314,313 |
| Capital Gain Net Income | $314,313 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $595 |
| Total Revenue | $618,081 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $108,000 |
| Pension plans, employee benefits | $8,346 |
| Interest | $0 |
| Taxes | $9,465 |
| Depreciation | $3,973 |
| Occupancy | $37,781 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $93,642 |
| Total operating and administrative expenses | $265,402 |
| Contributions, gifts, grants paid | $310,000 |
| Total expenses and disbursements | $575,402 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $53,596 |
| 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 | $970,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,643,915 |
| Net Land, buildings, and equipment | $19,955 |
| Other assets | $10,000 |
| Total assets | $8,459,365 |
| Accounts payable and accrued expenses | $2,760 |
| 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 | $767 |
| Total liabilities | $3,527 |
Grants Awarded
Over the last fiscal year, Brown Badgett Foundation Inc has awarded $310,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
J ROGERS BADGETT SR FOUNDATION IN PURPOSE: OPERATIONS | $285,000 |
MAGEE MIDDLE SCHOOL PURPOSE: OPERATING | $10,000 |
LINCOLN HERITAGE COUNCIL PURPOSE: OPERATING | $5,000 |
BAPTIST HEALTH PURPOSE: OPERATING | $10,000 |