Bill & Peggy Britt Foundation Inc
- Assets
- $268.2k
- Revenue
- $5.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Chapel Hill, NC
- Founding
- Data as of
- 12/2022
- EIN
- 88-1729194
Organization Overview
Bill & Peggy Britt Foundation Inc is located in Chapel Hill, NC. 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. Bill & Peggy Britt Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WAS ORGANIZED AND IS OPERATED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES WITH IN THE MEANING OF INTERNAL REVENUE CODE SECTION 501(C)(3), INCLUDING THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER THE CODE 501(C)(3). IT WILL OPERATE AS A PRIVATE NON-OPERATING FOUNDATION THAT AWARDS GRANTS AS DEFINED IN TREAS. REG. SECTION 53.4945-4(A)(2) TO OTHER CHARITABLE ORGANIZATIONS RECOGNIZED AS EXEMPT FROM TAXATION UNDER CODE SECTION 501(C)(3), AND MORE SPECIFICALLY, TO SUCH ORGANIZATIONS WITH INNOVATIVE IDEAS FOR ACHIEVING THEIR EXEMPT PURPOSES. ALL GRANTS THAT WILL BE AWARDED WILL FURTHER THE FOUNDATION'S EXEMPT PURPOSE AS A CHARITABLE GRANT-MAKING ORGANIZATION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
G Bryant Garner President | 0 | $0 | |
Jean E Britt Secretary | 0 | $0 | |
J William Blue Jr Vice President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,250,000 |
| Interest on Savings | $18,412 |
| Dividends & Interest | $0 |
| 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 | $5,268,412 |
| 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 | $175 |
| Total operating and administrative expenses | $175 |
| Contributions, gifts, grants paid | $5,000,000 |
| Total expenses and disbursements | $5,000,175 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $267,740 |
| 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 | $497 |
| Total assets | $268,237 |
| 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, Bill & Peggy Britt Foundation Inc has awarded $5,000,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
SPCA OF WAKE COUNTY PURPOSE: FAMILY GRANT, FINANCIAL AID | $400,000 |
WILLIAM PEACE UNIVERSITY PURPOSE: FAMILY GRANT, FINANCIAL AID | $1,000,000 |
SAMARITAN'S PURSE PURPOSE: FAMILY GRANT, FINANCIAL AID | $1,000,000 |
JACKSONVILLE HUMANE SOCIETY PURPOSE: FAMILY GRANT, FINANCIAL AID | $400,000 |
PAWS4EVER PURPOSE: FAMILY GRANT, FINANCIAL AID | $200,000 |
HAYES BARTON BAPTIST CHURCH PURPOSE: FAMILY GRANT, FINANCIAL AID | $1,000,000 |