Eastman Foundation
- Assets
- $2.9m
- Revenue
- $2.2m
- Investments
- $1.7m
- Employees
- 0
- Location
- Kingsport, TN
- Founding
- 12/1995
- Data as of
- 12/2022
- EIN
- 62-1614800
Organization Overview
Eastman Foundation is located in Kingsport, TN. The organization was established in 1995. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Eastman 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, Eastman Foundation generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $985.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (12.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Eastman Foundation has awarded 866 individual grants totaling $12,077,408. 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 |
|---|---|---|---|
Perry Stuckey Director & Vice President | 0.25 | $0 | |
Kristi Bennett Corporate Secretary | 0.25 | $0 | |
Donny Chia Director & Treasurer | 0.25 | $0 | |
Paula Bulcao Executive Director | 0.25 | $0 | |
Kellye Walker Director | 0.25 | $0 | |
Willie Mclain Director & President | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,052,718 |
| Interest on Savings | $0 |
| Dividends & Interest | $181,149 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,233,867 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,730 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $13,209 |
| Total operating and administrative expenses | $31,840 |
| Contributions, gifts, grants paid | $953,363 |
| Total expenses and disbursements | $985,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,190,968 |
| 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 | $44,172 |
| Total assets | $2,887,662 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $1,728,399 |
| 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 | $1,728,399 |
Grants Awarded
Over the last fiscal year, Eastman Foundation has awarded $773,363 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
APPALACHIAN SERVICE PROJECT PURPOSE: KENTUCKY FLOOD RELIEF | $50,000 |
ASBURY OPTIONAL SCHOOL PURPOSE: MATH AND SCIENCE ELITES | $9,900 |
CARLISLE SCHOOL PURPOSE: MATH AND SCIENCE ELITES | $600 |
CHEMICAL EDUCATIONAL FOUNDATION PURPOSE: PARTNERSHIP SUPPORTING MATH/SCIENCE ELITES PROGRAM | $5,000 |
CARTER COUNTY SCHOOL DISTRICT PURPOSE: MATH AND SCIENCE ELITES | $2,750 |
COALITION FOR BETTER HEALTH PURPOSE: MATH AND SCIENCE ELITES | $25,000 |