Thomas B And Michael F Barnett Memorial Charitable Foundation
- Assets
- $797.0k
- Revenue
- $18.4k
- Investments
- $665.1k
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 06/1991
- Data as of
- 12/2022
- EIN
- 63-6159417
Organization Overview
Thomas B And Michael F Barnett Memorial Charitable Foundation is located in Mobile, AL. The organization was established in 1991. 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. Thomas B And Michael F Barnett Memorial Charitable 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, Thomas B And Michael F Barnett Memorial Charitable Foundation generated $18.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.5%) each year. All expenses for the organization totaled $47.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Thomas B And Michael F Barnett Memorial Charitable Foundation has awarded 25 individual grants totaling $357,400. 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 |
|---|---|---|---|
Oakworth Capital Bank Trustee - May - December | 1 | $2,500 | |
Trustmark Bank Inc Trustee - January - May | 1 | $1,398 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,329 |
| Dividends & Interest | $13,982 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,132 |
| Capital Gain Net Income | $3,132 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $18,443 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $6,028 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,173 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $58 |
| Total operating and administrative expenses | $14,347 |
| Contributions, gifts, grants paid | $32,800 |
| Total expenses and disbursements | $47,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$2 |
| Savings and temporary cash investments | $11,844 |
| 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 | $15,090 |
| Investments—other | $650,047 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $120,000 |
| Total assets | $796,979 |
| 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, Thomas B And Michael F Barnett Memorial Charitable Foundation has awarded $32,800 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
L'ARCHE PURPOSE: CHARITABLE DONATION | $2,000 |
ST MICHAELS CATHOLIC SCHOOL PURPOSE: CHARITABLE DONATION | $30,800 |