Bright Foundation Inc
- Assets
- $27.9k
- Revenue
- $11.3k
- Investments
- $23.5k
- Employees
- 0
- Location
- Summersville, WV
- Founding
- 03/2006
- Data as of
- 03/2024
- EIN
- 20-2851942
Organization Overview
Bright Foundation Inc is located in Summersville, WV. The organization was established in 2006. 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. Bright 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.
For the year ending 03/2024, Bright Foundation Inc generated $11.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $6.7k during the year ending 03/2024. As we would expect to see with falling revenues, expenses have declined by (11.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Bright Foundation Inc has awarded 82 individual grants totaling $159,200. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A-THE FOUNDATION HAD NO DIRECT CHARITABLE ACTIVITIES DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia B Bright Director/vp | 0.5 | $0 | |
Anne Bright Campf Director/president | 0.5 | $0 | |
Elizabeth M Bright Director | 0 | $0 | |
Sara T Bright Director | 0 | $0 | |
Darren M Campf Director/secretary | 0 | $0 | |
William T Bright Director/treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000 |
| Interest on Savings | $3 |
| Dividends & Interest | $751 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $500 |
| Capital Gain Net Income | $500 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $11,254 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $65 |
| Total operating and administrative expenses | $88 |
| Contributions, gifts, grants paid | $6,625 |
| Total expenses and disbursements | $6,713 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,430 |
| 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 | $23,475 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $27,905 |
| 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, Bright Foundation Inc has awarded $24,125 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
DANCE INITIATIVE CO-MOTION PURPOSE: TO SUPPORT DANCE PROGRAM SCHOLARSHIPS | $1,000 |
HANNAH DAVIS PURPOSE: HIGHER EDUCATION SCHOLARSHIP | $625 |
JONATHAN SWEENEY JR PURPOSE: HIGHER EDUCATION SCHOLARSHIP | $1,250 |
OLIVIA SHORT PURPOSE: HIGHER EDUCATION SCHOLARSHIP | $1,250 |
SKYLAR NASH PURPOSE: HIGHER EDUCATION SCHOLARSHIP | $1,250 |
ETHAN COLLINS PURPOSE: HIGHER EDUCATION SCHOLARSHIP | $5,000 |