Drake Foundation Inc
- Assets
- $75.2k
- Revenue
- $200.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Collierville, TN
- Founding
- 11/1997
- Data as of
- 12/2022
- EIN
- 62-1684643
Organization Overview
Drake Foundation Inc is located in Collierville, TN. The organization was established in 1997. 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. Drake 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, Drake Foundation Inc generated $200.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $210.5k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Drake Foundation Inc has awarded 30 individual grants totaling $1,081,600. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $200,000 |
| Interest on Savings | $682 |
| Dividends & Interest | $0 |
| 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 | $200,682 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $7 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7 |
| Total operating and administrative expenses | $14 |
| Contributions, gifts, grants paid | $210,500 |
| Total expenses and disbursements | $210,514 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $75,243 |
| 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 | $0 |
| Total assets | $75,243 |
| 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, Drake Foundation Inc has awarded $210,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
JDRF PURPOSE: FURTHER EXEMPT PURPOSE | $6,000 |
OWENSBORO INNOVATION ACADEMY PURPOSE: FURTHER EXEMPT PURPOSE | $1,000 |
GREEN RIVER DOWN SYNDROME ASSOCIATION PURPOSE: FURTHER EXEMPT PURPOSE | $2,500 |
PASTORAL LEADERSHIP INSTITUTE PURPOSE: FURTHER EXEMPT PURPOSE | $200,000 |
YMCA OF GREATER SCRANTON PURPOSE: FURTHER EXEMPT PURPOSE | $1,000 |