Encova Foundation Of West Virginia
- Assets
- $47.5m
- Revenue
- $5.9m
- Investments
- $42.1m
- Employees
- 0
- Location
- Charleston, WV
- Founding
- 08/2012
- Data as of
- 12/2021
- EIN
- 80-0772825
Organization Overview
Encova Foundation Of West Virginia is located in Charleston, WV. The organization was established in 2012. 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. Encova Foundation Of West Virginia 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, Encova Foundation Of West Virginia generated $5.9m 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 (7.4%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (16.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Encova Foundation Of West Virginia has awarded 621 individual grants totaling $54,411,982. 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 |
|---|---|---|---|
Gregory A Burton Executive Chair | 0.5 | $0 | |
James Christopher Howat Executive Vp, Cfo, Treasurer | 0.5 | $0 | |
Thomas J Obrokta Jr President And CEO | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $119,930 |
| Dividends & Interest | $848,197 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,861,955 |
| Capital Gain Net Income | $4,861,955 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $85,361 |
| Total Revenue | $5,915,443 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $29,141 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $90,404 |
| Total operating and administrative expenses | $427,947 |
| Contributions, gifts, grants paid | $2,074,099 |
| Total expenses and disbursements | $2,502,046 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,818,422 |
| Net Accounts receivable | $69,208 |
| Net Pledges Receivable | $0 |
| Grants receivable | $2,500,000 |
| 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 | $42,076,003 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $47,463,633 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $3,525,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $1,015 |
| Total liabilities | $3,526,015 |
Grants Awarded
Over the last fiscal year, Encova Foundation Of West Virginia has awarded $5,599,099 in support to 81 organizations.
| Grant Recipient | Amount |
|---|---|
Huntington, WV PURPOSE: GENERAL SUPPORT | $1,350,000 |
WVU FOUNDATION PURPOSE: GENERAL SUPPORT | $1,320,000 |
Huntington, WV PURPOSE: UDITORIUM FOR BRAD D SMITH CENTER FOR BUSINESS AND INNOVATION | $450,000 |
SHAWNEE PARK FOUNDATION PURPOSE: GENERAL SUPPORT | $400,000 |
WVU FOUNDATION PURPOSE: ENCOVA CENTER FOR INNOVATION AND ENTREPRENEURSHIP | $330,000 |
WEST VIRGINIA CHILD ADVOCACY NETWORK PURPOSE: GENERAL SUPPORT | $300,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |
Jewish Foundation Of Cincinnati Cincinnati, OH | $344,322,004 | $65,111,190 |
Charles F Kettering Foundation Dayton, OH | $413,895,327 | $17,762,033 |
Jay And Jeanie Schottenstein Foundation Columbus, OH | $12,858,446 | $29,259,001 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
The Lozick Family Foundation Pepper Pike, OH | $264,438,182 | $44,457,050 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |