Covance Charitable Foundation
- Assets
- $23.5m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Burlington, NC
- Founding
- 08/2003
- Data as of
- 12/2021
- EIN
- 81-0587320
Organization Overview
Covance Charitable Foundation is located in Burlington, NC. The organization was established in 2003. 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. Covance 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 12/2021, Covance Charitable Foundation generated $10.0m in total revenue. All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 89.1% per year over the past 4 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 2020, Covance Charitable Foundation has awarded 262 individual grants totaling $1,502,118. 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 |
|---|---|---|---|
Sandra D Van Der Vaart President & Secretary | 1 | $0 | |
Glenn Eisenberg Vice President & Treasurer | 1 | $0 | |
Teresa W Mansfield Executive Director | 1 | $0 | |
Jill G Mcconnell Director | 1 | $0 | |
Kathryn W Kyle Assistant Secretary | 1 | $0 | |
Michele Mazur Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,204 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $10,004,204 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $297 |
| Total operating and administrative expenses | $297 |
| Contributions, gifts, grants paid | $1,497,088 |
| Total expenses and disbursements | $1,497,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,844,625 |
| Savings and temporary cash investments | $19,680,211 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $23,524,836 |
| 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, Covance Charitable Foundation has awarded $1,497,088 in support to 251 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $250,000 |
Washington, DC PURPOSE: GENERAL SUPPORT | $100,000 |
DONORSCHOOSE PURPOSE: GENERAL SUPPORT | $100,000 |
CENTER FOR SCIENCE TECHNOLOGY AND LEADERSHIP DEVEOPMENT PURPOSE: GENERAL SUPPORT | $25,000 |
AMERICAN RED CROSS PURPOSE: GENERAL SUPPORT | $25,000 |
AMERICAN DIABETES ASSOCIATION PURPOSE: GENERAL SUPPORT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
Drs Bruce & Lee Foundation Florence, SC | $254,078,574 | $12,559,871 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
Mary Reynolds Babcock Foundation Incorporated Winstonsalem, NC | $253,832,619 | $55,868,843 |
Edward C And Linda Dresner Levy Foundation Reston, VA | $6,482,787 | $4,609,179 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |