Robert & Molly Tarr Charitable Foundation
- Assets
- $2.7m
- Revenue
- $540.6k
- Investments
- $2.2m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 04/1994
- Data as of
- 11/2023
- EIN
- 04-3173231
Organization Overview
Robert & Molly Tarr Charitable Foundation is located in Charlotte, NC. The organization was established in 1994. 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. Robert & Molly Tarr 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 11/2023, Robert & Molly Tarr Charitable Foundation generated $540.6k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.2% each year . All expenses for the organization totaled $1.1m during the year ending 11/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Robert & Molly Tarr Charitable Foundation has awarded 40 individual grants totaling $1,596,900. 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 |
|---|---|---|---|
Robert J Tarr Jr Trustee | 1 | $0 | |
Molly U Tarr Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $35,530 |
| Dividends & Interest | $52,043 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $452,707 |
| Capital Gain Net Income | $452,648 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $273 |
| Total Revenue | $540,553 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $78 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,951 |
| Total operating and administrative expenses | $27,489 |
| Contributions, gifts, grants paid | $1,090,000 |
| Total expenses and disbursements | $1,117,489 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,022 |
| Savings and temporary cash investments | $552,685 |
| 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 | $678,346 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,717,820 |
| 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, Robert & Molly Tarr Charitable Foundation has awarded $1,090,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
ALLIANCE TO PROTECT NANTUCKET SOUND PURPOSE: PUBLIC CHARITY - ENVIRONMENTAL | $5,000 |
BEVERLY HOSPITAL PURPOSE: PUBLIC CHARITY - MEDICAL/HOSPITAL - GEORGE SCHARFE FUND | $25,000 |
CALVARY CHAPEL PURPOSE: PUBLIC CHARITY - RELIGIOUS | $5,000 |
NAMI CAPE COD INC PURPOSE: PUBLIC CHARITY - MENTAL ILLNESS - 2023 SIOBHAN LEIGH KINLIN MEMORIAL GOLF TOURNAMENT | $10,000 |
NEW HORIZONS FOUNDATION PURPOSE: PUBLIC CHARITY PROMOTES/SUPPORT DONORS AND CHARITABLE ENDEAVOURS AROUND THE WORLD | $5,000 |
SAMARITAN'S PURSE PURPOSE: PUBLIC CHARITY - PHYSICAL AID/RELIGIOUS | $5,000 |