Benwood Foundation Inc
- Assets
- $102.5m
- Revenue
- $6.7m
- Investments
- $93.6m
- Employees
- 0
- Location
- Chattanooga, TN
- Founding
- 11/1946
- Data as of
- 12/2022
- EIN
- 62-0476283
Organization Overview
Benwood Foundation Inc is located in Chattanooga, TN. The organization was established in 1946. 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. Benwood 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 12/2022, Benwood Foundation Inc generated $6.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $9.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Benwood Foundation Inc has awarded 1,014 individual grants totaling $65,885,932. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul K Brock Jr Trustee | 2 | $0 | |
Ken Jones Trustee | 2 | $0 | |
Sarah Morgan President | 40 | $275,000 | |
Valoria Armstrong Trustee | 2 | $0 | |
Elaine Swafford Trustee | 2 | $0 | |
Stephen Culp Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $259,108 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,548,366 |
| Capital Gain Net Income | $10,331,914 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$91,697 |
| Total Revenue | $6,715,777 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $237,418 |
| Other employee salaries and wages | $416,377 |
| Pension plans, employee benefits | $63,780 |
| Interest | $0 |
| Taxes | $621,348 |
| Depreciation | $3,706 |
| Occupancy | $138,578 |
| Travel, conferences, and meetings | $7,823 |
| Printing and publications | $0 |
| Other expenses | $288,713 |
| Total operating and administrative expenses | $1,810,247 |
| Contributions, gifts, grants paid | $7,741,517 |
| Total expenses and disbursements | $9,551,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,637 |
| Savings and temporary cash investments | $1,353,902 |
| 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 | $10,772 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $93,614,063 |
| Net Land, buildings, and equipment | $19,921 |
| Other assets | $7,410,564 |
| Total assets | $102,467,859 |
| Accounts payable and accrued expenses | $87,500 |
| Grants payable | $4,280,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $3,502 |
| Total liabilities | $4,371,002 |
Grants Awarded
Over the last fiscal year, Benwood Foundation Inc has awarded $4,983,175 in support to 100 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN HEART ASSOCIATION PURPOSE: CHATTANOOGA GO RED FOR WOMEN-STEM | $10,000 |
AMERICAN ASSOCIATION OF BLACKS IN ENERGY CHATTANOOGA CHAPTER PURPOSE: CHAPTER SCHOLARSHIP FUND | $1,000 |
ARTSBUILD PURPOSE: GENERAL OPERATING SUPPORT | $150,000 |
ART 120 PURPOSE: INTERNATIONAL MARKET & OTHER CULTURAL EVENTS | $25,000 |
BELOVED WOMAN PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
ARTSBUILD PURPOSE: CREATIVE ENTREPRENEUR TRAINING | $10,000 |