Petty Family Foundation Inc
- Assets
- $183.0k
- Revenue
- $226.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Randleman, NC
- Founding
- 03/2010
- Data as of
- 12/2022
- EIN
- 80-0483917
Organization Overview
Petty Family Foundation Inc is located in Randleman, NC. The organization was established in 2010. According to its NTEE Classification (T30) the organization is classified as: Public 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. Petty Family 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, Petty Family Foundation Inc generated $226.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $209.7k during the year ending 12/2022. While expenses have increased by 3.0% 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, Petty Family Foundation Inc has awarded 22 individual grants totaling $244,043. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PETTY FOUNDATION HAS A STRONG BELIEF IN FAMILY VALUES, INTEGRITY, EDUCATION AND COMPASSION FOR OTHERS. IT IS THESE IDEALS UPON WHICH WE BUILD OUR FOUNDATION, GIVING BACK TO OUR COMMUNITY AND THOSE IN NEED. WE ASPIRE TO ENRICH THE LIVES OF FAMILIES AFFECTED BY SERIOUS ILLNESS AND INJURY THROUGH A VARIETY OF CHARITABLE EVENTS AND EDUCATIONAL PROGRAMS. WITH THE HELP OF OTHERS, THE PETTY FAMILY FOUNDATION WILL BUILD STRONGER COMMUNITIES AS WELL AS BRING JOY TO THE LIVES OF THOSE IN NEED.THE FOUNDATION'S CHARITABLE FOCUS IS TO RAISE FUNDS PRIMARILY FOR THE VICTORY JUNCTION GANG CAMP AND PARALYZED VETERANS OF AMERICA AND OTHER PUBLIC CHARITIES. THE FOUNDATION'S FUNDRAISING ENDEAVORS INCLUDE THE RICHARD PETTY CHARITY GOLF CLASSIC AND CHARITY AUCTIONS. THROUGH OUR EFFORTS, THE FOUNDATION INTENDS TO RAISE FUNDS TO BE DISTRIBUTED TO VICTORY JUNCTION TO MAINTAIN AND IMPROVE HOUSING FACILITIES AND PROVIDE NEW PROGRAMMING FOR THE TERMINALLY ILL JUNIOR CAMPERS AT VICTORY JUNCTION. PROCEEDS WILL
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S CHARITABLE FOCUS IS TO RAISE FUNDS PRIMARILY FOR THE VICTORY JUNCTION GANG CAMP AND PARALYZED VETERANS OF AMERICA AND OTHER PUBLIC CHARITIES. THE FOUNDATION'S FUNDRAISING ENDEAVORS INCLUDE THE RICHARD PETTY CHARITY GOLF CLASSIC AND CHARITY AUCTIONS. THROUGH OUR EFFORTS, THE FOUNDATION INTENDS TO RAISE FUNDS TO BE DISTRIBUTED TO VICTORY JUNCTION TO MAINTAIN AND IMPROVE HOUSING FACILITIES AND PROVIDE NEW PROGRAMMING FOR THE TERMINALLY ILL JUNIOR CAMPERS AT VICTORY JUNCTION. PROCEEDS WILL ALSO BE DISTRIBUTED TO PARALYZED VETERANS OF AMERICA TO BE USED TO IMPROVE THE QUALITY OF LIFE OF PARALYZED VETERANS AND OTHER PERSONS WITH DISABILITIES BY EXPANDING OPPORTUNITIES IN SPORTS AND RECREATION, ESPECIALLY ACTIVITIES WHICH ENHANCE LIFETIME HEALTH AND FITNESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rebecca Moffitt Pres/treas/ed | OfficerTrustee | 22 | $36,666 |
Shannon Newman Prog Director | Trustee | 1 | $0 |
Cassandra Burt Director | Trustee | 1 | $0 |
Richard Petty Director | Trustee | 1 | $0 |
Todd Walker Director | Trustee | 1 | $0 |
Alex Stavrolakis CFO | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $107,244 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $107,244 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $118,620 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $226,704 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $64,685 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $36,666 |
| Compensation of current officers, directors, key employees. | $10,120 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,507 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,580 |
| Payroll taxes | $6,156 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,577 |
| Advertising and promotion | $17 |
| Office expenses | $0 |
| Information technology | $4,089 |
| Royalties | $0 |
| Occupancy | $292 |
| Travel | $3,601 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $350 |
| Insurance | $327 |
| All other expenses | $277 |
| Total functional expenses | $209,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $182,449 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $370 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $183 |
| Total assets | $183,002 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $183,002 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $183,002 |
Grants Awarded
Over the last fiscal year, Petty Family Foundation Inc has awarded $26,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
AICOVETS | | | $10,000 |
RANDOLPH COMM COLLEGE FOUND | | | $6,000 |
VICTORY JUNCTION CAMP | | | $10,000 |