J L Bedsole Foundation
- Assets
- $37.0m
- Revenue
- $2.9m
- Investments
- $19.5m
- Employees
- 0
- Location
- Mobile, AL
- Founding
- 10/1972
- Data as of
- 12/2022
- 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 12/2022, J L Bedsole Foundation generated $2.9m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $3.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, J L Bedsole Foundation has awarded 480 individual grants totaling $7,955,116. 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
2022
Describe the Organization's Program Activity:
ADMINISTRATION OF SCHOLARS PROGRAM (85 COLLEGE/UNIVERSITY STUDENTS SERVED), ENTREPRENEURIAL PROGRAM, AND GRANTS TO EXEMPT ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Regions Bank Trustee | 40 | $37,201 | |
Travis M Bedsole Jr Mbr Dist Comm & Trustee | 6 | $35,750 | |
T Bestor Ward III Chr Dist Comm & Trustee | 10 | $45,750 | |
John White-Spunner Mbr Dist Comm | 3 | $14,500 | |
Winthrop M Hallett III Mbr Dist Comm | 3 | $14,500 | |
T Bestor Ward IV Mbr Dist Comm | 3 | $14,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Professional Forestry Services | 12/30/22 | $102,378 |
Smith Dukes & Buckalew | 12/30/22 | $54,359 |
Red River Specialties Inc | 12/30/22 | $99,203 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $390,197 |
| Net Rental Income | $11,200 |
| Net Gain on Sale of Assets | $2,107,874 |
| Capital Gain Net Income | $2,107,874 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $421,904 |
| Total Revenue | $2,931,175 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $162,201 |
| Other employee salaries and wages | $222,072 |
| Pension plans, employee benefits | $13,227 |
| Interest | $0 |
| Taxes | $99,035 |
| Depreciation | $0 |
| Occupancy | $5,080 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $110,050 |
| Total operating and administrative expenses | $877,000 |
| Contributions, gifts, grants paid | $2,739,024 |
| Total expenses and disbursements | $3,616,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2 |
| Savings and temporary cash investments | $1,055,082 |
| 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 | $3,347,013 |
| Net Land, buildings, and equipment | $16,444,541 |
| Other assets | $0 |
| Total assets | $36,981,163 |
| 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 $2,739,024 in support to 139 organizations.
| Grant Recipient | Amount |
|---|---|
ALABAMA SCHOOL OF MATH & SCIENCE PURPOSE: SCIENCE RESEARCH CENTER | $100,000 |
AMERICAN ACADEMY OF PEDIATRICS-AL CHAPTER PURPOSE: REACH OUT AND READ OUT ALABAMA | $10,000 |
ARC - BALDWIN COUNTY PURPOSE: OPERATIONAL SUPPORT | $10,000 |
ASCENSION PROVIDENCE FOUNDATION PURPOSE: FESTIVAL OF FLOWERS | $10,000 |
BAYSHORE CHRISTIAN SCHOOL PURPOSE: PHASE 2 - FOR FUTURE GENERATIONS | $75,000 |
BOY SCOUTS OF AMERICA MOBILE COUNCIL PURPOSE: CAMP MAUBILA IMPROVEMENTS | $8,000 |