Cornelia T Bailey Charitable Trust
- Assets
- $355.6m
- Revenue
- $19.9m
- Investments
- $341.5m
- Employees
- 0
- Location
- West Palm Beach, FL
- Founding
- 03/2008
- Data as of
- 12/2021
- EIN
- 65-6474256
Organization Overview
Cornelia T Bailey Charitable Trust is located in West Palm Beach, FL. The organization was established in 2008. 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. Cornelia T Bailey Charitable Trust 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 12/2021, Cornelia T Bailey Charitable Trust generated $19.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 29.5% each year . All expenses for the organization totaled $22.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Cornelia T Bailey Charitable Trust has awarded 669 individual grants totaling $64,336,190. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eileen J Daly Co-Trustee | 20 | $953,531 | |
Stephen G Vogelsang ESQ Co-Trustee | 20 | $953,531 | |
Hayley J Little Executive Director | 40 | $241,230 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley Smith Barney | 12/30/21 | $2,348,948 |
The Northern Trust Company | 12/30/21 | $164,385 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6,027,133 |
| Interest on Savings | $0 |
| Dividends & Interest | $9,904,955 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,920,080 |
| Capital Gain Net Income | $3,920,080 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $19,852,168 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,148,293 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $36,957 |
| Interest | $0 |
| Taxes | $89,923 |
| Depreciation | $0 |
| Occupancy | $167,464 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $88,711 |
| Total operating and administrative expenses | $5,145,586 |
| Contributions, gifts, grants paid | $17,599,600 |
| Total expenses and disbursements | $22,745,186 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,053,554 |
| Savings and temporary cash investments | $0 |
| 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 | $83,721,280 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $355,586,591 |
| 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 | $23,976 |
| Total liabilities | $23,976 |
Grants Awarded
Over the last fiscal year, Cornelia T Bailey Charitable Trust has awarded $20,599,600 in support to 186 organizations.
| Grant Recipient | Amount |
|---|---|
Wellsley, MA PURPOSE: CORNELIA T. BAILEY GLOBAL FLORA MEZZANINE AND PERFORMANCE SPACE | $1,500,000 |
West Palm Beach, FL PURPOSE: 75% SHOW UNDERWRITING / 25% APPRENTICE ARTIST PROGRAM | $1,000,000 |
Jupiter, FL PURPOSE: CORNELIA T. BAILEY EDUCATION CENTER | $1,000,000 |
Tavernier, FL PURPOSE: LARGE-SCALE REEF RESTORATION OF FLORIDA'S CORAL REEF | $1,000,000 |
Jupiter, FL PURPOSE: CORNELIA T. BAILEY EDUCATION CENTER | $1,000,000 |
Hobe Sound, FL PURPOSE: CORNELIA T. & GLENN W. BAILEY ART GALLERY | $1,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Leslie L Alexander Foundation Delray Beach, FL | $372,501,228 | $8,282,313 |
Publix Super Markets Charities Inc Lakeland, FL | $259,322,738 | $58,315,085 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |
Goizueta Foundation Inc Atlanta, GA | $444,757,286 | $34,966,270 |
The Marie-Josee And Henry R Kravis Foundation West Palm Beach, FL | $65,193,748 | $101,287,799 |
Peter@degeorge Family Foundation Inc Palm Beach Gardens, FL | $1,828,456 | $678,712 |
The Batchelor Foundation Inc Miami Beach, FL | $358,630,434 | $9,326,509 |
Lettie Pate Evans Foundation Inc Atlanta, GA | $69,308,402 | $17,897,458 |
Cornelia T Bailey Charitable Trust West Palm Beach, FL | $355,586,591 | $19,852,168 |
James M Cox Foundation Of Ga Inc Atlanta, GA | $0 | $81,966,247 |
Georgia Power Foundation Inc In Receivership Atlanta, GA | $222,309,509 | $29,809,906 |
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |