Weldon F Osborne Foundation Inc
- Assets
- $22.1m
- Revenue
- $2.3m
- Investments
- $19.4m
- Employees
- 0
- Location
- Chattanooga, TN
- Founding
- 12/1961
- Data as of
- 06/2023
- EIN
- 62-6026442
Organization Overview
Weldon F Osborne Foundation Inc is located in Chattanooga, TN. The organization was established in 1961. 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. Weldon F Osborne 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 06/2023, Weldon F Osborne Foundation Inc generated $2.3m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $2.1m during the year ending 06/2023. While expenses have increased by 6.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Weldon F Osborne Foundation Inc has awarded 346 individual grants totaling $5,624,583. 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
NONE - NO ACTIVITIES OTHER THAN GRANT MAKING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gene Burnett Vice-President | 2 | $3,161 | |
C Duffy Franck Jr Trustee | 2 | $3,161 | |
Glenn Stophel President | 2 | $0 | |
Scott Mattice Treasurer | 10 | $0 | |
Christine B Smith Secretary | 1 | $0 | |
Barbara Marter Assistant Secretary/treasurer | 40 | $75,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $106,771 |
| Dividends & Interest | $310,170 |
| Net Rental Income | $59,598 |
| Net Gain on Sale of Assets | $1,644,744 |
| Capital Gain Net Income | $1,644,744 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,329,497 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $81,322 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $85,097 |
| Depreciation | $18,222 |
| Occupancy | $25,349 |
| Travel, conferences, and meetings | $929 |
| Printing and publications | $0 |
| Other expenses | $290,417 |
| Total operating and administrative expenses | $581,299 |
| Contributions, gifts, grants paid | $1,518,988 |
| Total expenses and disbursements | $2,100,287 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $439,839 |
| Savings and temporary cash investments | $1,907,023 |
| Net Accounts receivable | $26,382 |
| 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 | $8,703 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $14,226 |
| Other assets | $263,102 |
| Total assets | $22,051,482 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $460,761 |
| 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 | $460,761 |
Grants Awarded
Over the last fiscal year, Weldon F Osborne Foundation Inc has awarded $1,671,172 in support to 91 organizations.
| Grant Recipient | Amount |
|---|---|
A STEP AHEAD CHATTANOOGA PURPOSE: PROGRAM SUPPORT | $10,000 |
ADULT & TEEN CHALLENGE MIDSOUTH PURPOSE: CAPACITY BUILDING/PROGRAM SUPPORT | $35,000 |
AUSTIN HATCHER FOUNDATION FOR PEDIATRIC CANCER PURPOSE: CAPITAL CAMPAIGN | $25,000 |
ARTSBUILD PURPOSE: OPERATING | $10,000 |
BETHEL BIBLE VILLAGE PURPOSE: OPERATING | $35,500 |
BOY SCOUTS OF AMERICA CHEROKEE AREA COUNCIL PURPOSE: OPERATING/PROGRAM SUPPORT | $3,000 |