L Franklin And Gertrude H Purnell Foundation Inc
- Assets
- $569.3k
- Revenue
- $20.9k
- Investments
- $567.2k
- Employees
- 0
- Location
- Berlin, MD
- Founding
- 10/1972
- Data as of
- 08/2024
- EIN
- 23-7187899
Organization Overview
L Franklin And Gertrude H Purnell Foundation Inc is located in Berlin, MD. The organization was established in 1972. 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. L Franklin And Gertrude H Purnell 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 08/2024, L Franklin And Gertrude H Purnell Foundation Inc generated $20.9k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $45.0k during the year ending 08/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, L Franklin And Gertrude H Purnell Foundation Inc has awarded 77 individual grants totaling $298,200. 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
THE FOUNDATION IS A PHILANTHROPIC ORGANIZATION EARNING INTEREST, DIVIDENDS AND SELLING INVESTMENTS. SUMS ARE DONATED ANNUALLY TO VARIOUS CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raymond Coates Jr President | 1 | $750 | |
Jason Parker Secretary/tr | 1 | $1,850 | |
Wayne Benson Director | 1 | $750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $579 |
| Dividends & Interest | $13,925 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,382 |
| Capital Gain Net Income | $1,236 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $20,886 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $3,350 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $86 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $947 |
| Total operating and administrative expenses | $12,997 |
| Contributions, gifts, grants paid | $32,000 |
| Total expenses and disbursements | $44,997 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,140 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $569,341 |
| Accounts payable and accrued expenses | $86 |
| 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 | $86 |
Grants Awarded
Over the last fiscal year, L Franklin And Gertrude H Purnell Foundation Inc has awarded $32,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
COASTAL HOSPICE PURPOSE: HOME AND MEDICAL CARE SERVICES | $2,000 |
DIAKONIA INC PURPOSE: EMERGENCY HOMELESS CENTER | $12,000 |
OCEAN CITY MUSEUM SOCIETY PURPOSE: NON-PROFIT MUSEUM - EDUCATIONAL | $1,000 |
SHIRLEY GRACE PREGNANCY CENTER PURPOSE: AIDE WITH UNINTENDED PREGNANCY | $1,000 |
WOR WIC FOUNDATION PURPOSE: EDUCATIONAL PROGRAMS | $14,000 |
WORCESTER COUNTY GOLD PURPOSE: AID NEEDY FAMILIES | $2,000 |