Payne Family Charitable Foundation
- Assets
- $1.6m
- Revenue
- $65.2k
- Investments
- $1.3m
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 06/2017
- Data as of
- 12/2023
- EIN
- 81-0924377
Organization Overview
Payne Family Charitable Foundation is located in Virginia Beach, VA. The organization was established in 2017. 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. Payne Family 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 12/2023, Payne Family Charitable Foundation generated $65.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (11.7%) each year.
Since 2016, Payne Family Charitable Foundation has awarded 120 individual grants totaling $274,500. 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 |
|---|---|---|---|
John W Payne III Director | 0 | $0 | |
Elizabeth Jean Payne Director | 0 | $0 | |
Matthew W Payne Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $51 |
| Dividends & Interest | $35,252 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $27,584 |
| Capital Gain Net Income | $27,584 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,278 |
| Total Revenue | $65,165 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $961 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $9,352 |
| Contributions, gifts, grants paid | $44,000 |
| Total expenses and disbursements | $53,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,970 |
| Savings and temporary cash investments | $280,876 |
| 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 | $1,296,840 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,602,686 |
| 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, Payne Family Charitable Foundation has awarded $44,000 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
BARRIER ISLAND CENTER PURPOSE: TO PRESERVE AND PERPETUATE THE UNIQUE CULTURE AND HISTORY OF VIRGINIA'S BARRIER ISLANDS. | $1,000 |
EASTERN SHORE HISTORICAL SOCIETY PURPOSE: GENERAL SUPPORT | $1,000 |
EASTERN SHORE COMMUNITY FOUNDATION PURPOSE: TO ENRICH THE LIVES OF THE PEOPLE OF VIRGINIA'S EASTERN SHORE. | $5,000 |
CHILDRENS HOSPITAL OF THE KING'S DAUGHTERS PURPOSE: PROVIDE HEALTHCARE TO CHILDREN. | $1,000 |
EASTERN VIRGINIA MEDICAL SCHOOL PURPOSE: GENERAL SUPPORT. | $1,000 |
EASTERN SHORE'S OWN ART CENTER PURPOSE: PROVIDE OPPORTUNITIES FOR LOCAL ARTISTS TO TEACH, PRACTICE, PERFORM, AND TO MAKE THE ARTS AVAILABLE. | $1,000 |