Cadence Bank Foundation
- Assets
- $37.8m
- Revenue
- $1.3m
- Investments
- $32.3m
- Employees
- 0
- Location
- Tupelo, MS
- Founding
- 03/2000
- Data as of
- 12/2022
- EIN
- 64-6217237
Organization Overview
Cadence Bank Foundation is located in Tupelo, MS. The organization was established in 2000. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., 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. Cadence Bank 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, Cadence Bank Foundation generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 31.1% each year . All expenses for the organization totaled $1.9m during the year ending 12/2022. While expenses have increased by 9.4% per year over the past 8 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 2015, Cadence Bank Foundation has awarded 627 individual grants totaling $4,855,434. 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 |
|---|---|---|---|
Bancorpsouth Bank Trustee | 0 | $0 | |
Cathy Freeman Distribution Committee Mem | 0.25 | $0 | |
Chris Bagley Distribution Committee Mem | 0.25 | $0 | |
Mandy Mitchell Distribution Committee Mem | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $668,327 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $608,182 |
| Capital Gain Net Income | $608,182 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$25,034 |
| Total Revenue | $1,251,475 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $98,340 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $38,622 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $557 |
| Total operating and administrative expenses | $137,519 |
| Contributions, gifts, grants paid | $1,790,725 |
| Total expenses and disbursements | $1,928,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,455,458 |
| 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 | $1,823,994 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $22,206 |
| Total assets | $37,762,602 |
| 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 | $745,000 |
| Total liabilities | $745,000 |
Grants Awarded
Over the last fiscal year, Cadence Bank Foundation has awarded $1,790,725 in support to 137 organizations.
| Grant Recipient | Amount |
|---|---|
THE SALVATION ARMY TUPELO PURPOSE: GENERAL CONTRIBUTION | $15,000 |
MISSISSIPPI AQUARIUM FOUNDATION PURPOSE: GENERAL CONTRIBUTION | $70,000 |
BOYS & GIRLS CLUB OF NORTH MISSISSIPPI PURPOSE: GENERAL CONTRIBUTION | $15,000 |
BAKER RIPLEY PURPOSE: GENERAL CONTRIBUTION | $21,690 |
UNIVERSITY OF MISSISSIPPI FOUNDATION PURPOSE: GENERAL USE | $50,000 |
MISSISSIPPI MUSEUM OF ART PURPOSE: GENERAL USE | $25,000 |