J L Bedsole Foundation
- Assets
- $37.9m
- Revenue
- $4.7m
- Investments
- $20.2m
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 10/1972
- Data as of
- 12/2021
- EIN
- 23-7225708
Organization Overview
J L Bedsole Foundation is located in Mobile, AL. 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. J L Bedsole 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, J L Bedsole Foundation generated $4.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.3% each year . All expenses for the organization totaled $3.5m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, J L Bedsole Foundation has awarded 341 individual grants totaling $5,216,092. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
ADMINISTRATION OF SCHOLARS PROGRAM (112 COLLEGE/UNIVERSITY STUDENTS SERVED), ENTREPRENEURIAL PROGRAM, AND GRANTS TO EXEMPT ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher L Lee Director | 40 | $161,936 | |
Patricia Patton Program Director | 40 | $54,615 | |
T Bestor Ward IV Mbr Dist Comm | 3 | $14,500 | |
Regions Bank Trustee | 40 | $41,406 | |
Travis M Bedsole Jr Mbr Dist Comm & Trustee | 6 | $35,750 | |
Winthrop M Hallett III Mbr Dist Comm | 3 | $14,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Red River Specialties Inc | 12/30/21 | $81,868 |
Professional Forestry Services | 12/30/21 | $64,517 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $12 |
| Dividends & Interest | $613,520 |
| Net Rental Income | $11,000 |
| Net Gain on Sale of Assets | $3,647,607 |
| Capital Gain Net Income | $3,647,607 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $405,942 |
| Total Revenue | $4,678,081 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $166,406 |
| Other employee salaries and wages | $220,576 |
| Pension plans, employee benefits | $11,757 |
| Interest | $0 |
| Taxes | $127,380 |
| Depreciation | $0 |
| Occupancy | $34,690 |
| Travel, conferences, and meetings | $3,025 |
| Printing and publications | $0 |
| Other expenses | $80,792 |
| Total operating and administrative expenses | $988,333 |
| Contributions, gifts, grants paid | $2,470,195 |
| Total expenses and disbursements | $3,458,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,432,410 |
| 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 | $3,665,698 |
| Net Land, buildings, and equipment | $16,242,960 |
| Other assets | $0 |
| Total assets | $37,915,201 |
| 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, J L Bedsole Foundation has awarded $2,935,524 in support to 171 organizations.
| Grant Recipient | Amount |
|---|---|
MOBILE AREA CHAMBER OF COMMERCE FOUND PURPOSE: INNOVATION PORTAL - CAPITAL EXPENDITURE (BUILDING) | $500,000 |
UMS-WRIGHT PREPARATORY SCHOOL PURPOSE: NEW DINING FACILITY | $250,000 |
COASTAL ALABAMA PARTNERSHIP PURPOSE: OPERATING SUPPORT | $180,000 |
CITY OF MOBILE PURPOSE: REVITALIZATION OF BIENVILLE SQUARE | $100,000 |
Mobile, AL PURPOSE: GYMNASIUM RENOVATIONS | $100,000 |
ST PAUL'S EPISCOPAL SCHOOL PURPOSE: RENOVATION OF CURRENT SCIENCE LABS | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
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 |