Iversen Family Foundation
- Assets
- $20.3m
- Revenue
- $1.3m
- Investments
- $18.0m
- Employees
- 0
- Location
- Six Mile, SC
- Founding
- 09/2019
- Data as of
- 12/2021
- EIN
- 84-2849461
Organization Overview
Iversen Family Foundation is located in Six Mile, SC. The organization was established in 2019. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Iversen 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 12/2021, Iversen Family Foundation generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (42.5%) each year. All expenses for the organization totaled $986.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bonnie Iversen Vice-President | 1 | $0 | |
Chloe Iversen Director | 1 | $0 | |
Bernt G Iversen II President, Secretary, Treasurer | 1 | $0 | |
Mackenzie Ivernse Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $298,983 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,032,710 |
| Capital Gain Net Income | $1,032,710 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,592 |
| Total Revenue | $1,336,285 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12,349 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $269,468 |
| Contributions, gifts, grants paid | $716,702 |
| Total expenses and disbursements | $986,170 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,311,222 |
| Savings and temporary cash investments | $0 |
| 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 | $13,579 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,423,808 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $20,299,438 |
| 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, Iversen Family Foundation has awarded $716,702 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MENTOR LEADERS PURPOSE: GENERAL OPERATING SUPPORT | $467,956 |
THE MILL CHURCH PURPOSE: GENERAL OPERATING SUPPORT | $248,746 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Arthur M Blank Family Foundation Atlanta, GA | $365,187,486 | $84,889,977 |
John Bulow Campbell Foundation Atlanta, GA | $793,659,742 | $103,345,098 |
Darla Moore And Richard Rainwater Foundation Lake City, SC | $538,432,800 | $34,322,461 |
John M Belk Endowment Charlotte, NC | $344,527,989 | $19,824,991 |
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
The Henry W Grady Health System Foundation Inc Atlanta, GA | $41,862,389 | $12,481,516 |
The Ezrah Charitable Trust Charlotte, NC | $259,414,844 | $89,054,665 |
Phil J And Alice S Sheridan Foundation Inc Macon, GA | $17,357,251 | $6,663,970 |
Davis Love Iii Foundation St Simons Island, GA | $5,238,841 | $10,992,325 |
Goodnight Educational Foundation Cary, NC | $149,468,750 | $4,782,379 |
Foundation For A Better World Inc Marietta, GA | $167,606,554 | $6,349,362 |
Skeebo Foundation Charlotte, NC | $58,827,572 | $60,108,534 |