Prentice Family Foundation
- Assets
- $19.6m
- Revenue
- $1.9m
- Investments
- $18.4m
- Employees
- 0
- Location
- Jacksonville, FL
- Founding
- 09/2007
- Data as of
- 12/2021
- EIN
- 20-2557712
Organization Overview
Prentice Family Foundation is located in Jacksonville, FL. The organization was established in 2007. 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. Prentice 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, Prentice Family Foundation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 7.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP PROGRAM TO ASSIST UNDERGRADUATE AND GRADUATE STUDENTS AT THE STATE UNIVERSITY OF NEW YORK AT BUFFALO (UB) AND CANISIUS COLLEGE WHO ARE ACTIVELY PREPARING FOR CAREERS THAT FURTHER ECONOMIC DEVELOPMENT AND GROWTH IN THE WESTERN NEW YORK AREA.THE FELLOWSHIP PROGRAM COMBINES FINANCIAL ASSISTANCE, IN THE FORM OF SCHOLARSHIPS, WITH PAID, CREDIT-BEARING INTERNSHIPS TO ASSIST FELLOWS IN ACQUIRING BOTH ACADEMIC AND PRACTICAL EXPERIENCES IN THEIR INTENDED PROFESSIONS. THE GRANTING OF THE SCHOLARSHIP WILL DEPEND ON ELIGIBILITY, NEED, AND STUDENT MIX,AS WELL AS THE STUDENT'S ABILITY TO COMPLY WITH THE SCHOOL'S STANDARD OF PROGRESS TO MEET FEDERAL SCHOLARSHIP GUIDELINES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Tanous Executive Direc | 12 | $72,000 | |
Marc C Hutchinson Treasurer | 5 | $25,000 | |
Robert Zak Secretary | 5 | $25,000 | |
Nicole Tzetzo Director | 5 | $25,000 | |
Joan P Prentice Vice Pres. | 5 | $0 | |
Bryant H Prentice III President | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,500 |
| Interest on Savings | $7,169 |
| Dividends & Interest | $366,867 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,539,140 |
| Capital Gain Net Income | $1,539,140 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,915,676 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $147,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,351 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $192 |
| Printing and publications | $0 |
| Other expenses | $86,314 |
| Total operating and administrative expenses | $252,957 |
| Contributions, gifts, grants paid | $801,715 |
| Total expenses and disbursements | $1,054,672 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,083 |
| Savings and temporary cash investments | $816,623 |
| 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 | $5,075,700 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $421,000 |
| Total assets | $19,597,593 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $9,682 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,682 |
Grants Awarded
Over the last fiscal year, Prentice Family Foundation has awarded $801,715 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIV OF BUFFALO FOUNDATION PURPOSE: ADMINISTRATION OF THE SCHOLARSHIP PROGRAM AND SCHOLARSHIP AWARDS | $550,000 |
Buffalo, NY PURPOSE: ADMINISTRATION OF THE SCHOLARSHIP PROGRAM AND SCHOLARSHIP AWARDS | $251,715 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
Miriam U Hoover Foundation Vero Beach, FL | $0 | $462,542 |
Dr Herbert And Nicole Wertheim Family Foundation Inc Miami, FL | $42,831,898 | $5,245,016 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
The Mary Alice Fortin Foundation Palm Beach, FL | $167,401,142 | $8,209,363 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |
Anverse Inc Cartersville, GA | $0 | $25,436,325 |
Louis And Gloria Flanzer Philantrhopic Tr Sarasota, FL | $95,188,629 | $13,796,000 |
Uga Real Estate Foundation Inc Athens, GA | $310,229,529 | $14,839,274 |
The Gary W Rollins Foundation Atlanta, GA | $72,624,629 | $27,015,806 |
Theodore R & Vivian M Johnson Scholarship Foundation Inc West Palm Beach, FL | $0 | $7,841,898 |