Watt Foster Family Foundation
- Assets
- $13.5m
- Revenue
- $3.1m
- Investments
- $13.3m
- Employees
- 0
- Location
- Brookneal, VA
- Founding
- 05/2018
- Data as of
- 12/2022
- EIN
- 82-3650679
Organization Overview
Watt Foster Family Foundation is located in Brookneal, VA. The organization was established in 2018. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Watt Foster Family 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 12/2022, Watt Foster Family Foundation generated $3.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.6%) each year.
Since 2018, Watt Foster Family Foundation has awarded 1,308 individual grants totaling $2,118,175. 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 |
|---|---|---|---|
Watt R Foster Jr Trustee | 0.25 | $0 | |
Jennifer B Foster Trustee | 0.25 | $0 | |
Katherine F Rolfe Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,966,867 |
| Interest on Savings | $0 |
| Dividends & Interest | $179,267 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$7,317 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $375 |
| Total Revenue | $3,139,192 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $43,427 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,011 |
| Depreciation | $2,324 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,111 |
| Total operating and administrative expenses | $61,267 |
| Contributions, gifts, grants paid | $812,072 |
| Total expenses and disbursements | $873,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $88,964 |
| 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 | $95,615 |
| Net Land, buildings, and equipment | $38,262 |
| Other assets | $0 |
| Total assets | $13,472,091 |
| 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, Watt Foster Family Foundation has awarded $812,072 in support to 462 organizations.
| Grant Recipient | Amount |
|---|---|
ALPHA MINISTRIES PURPOSE: CONTRIBUTION | $100 |
ALL PEOPLES CHURCH PURPOSE: CONTRIBUTION | $100 |
AMAZEMENT SQUARE PURPOSE: BOARD PLEDGE | $2,500 |
ALTON BAPTIST CHURCH PURPOSE: CONTRIBUTION | $100 |
AMAZEMENT SQUARE PURPOSE: PUZZLED / EVERYBODY IS SPECIAL | $5,000 |
AMAZEMENT SQUARE PURPOSE: CONTRIBUTION | $10,000 |