Betts Foundation
- Assets
- $5.3m
- Revenue
- $211.1k
- Investments
- $4.8m
- Employees
- 0
- Location
- Warren, PA
- Founding
- 02/1960
- Data as of
- 12/2022
- EIN
- 25-6035169
Organization Overview
Betts Foundation is located in Warren, PA. The organization was established in 1960. 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. Betts 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, Betts Foundation generated $211.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (25.3%) each year. All expenses for the organization totaled $375.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Betts Foundation has awarded 164 individual grants totaling $989,583. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Re Betts Trustee | 0 | $0 | |
CR Betts Trustee | 0 | $0 | |
Te Betts Trustee | 2 | $0 | |
Mj Betts Trustee | 0 | $0 | |
Vg Lauffenburger Trustee | 1 | $0 | |
MD Hedges Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $200,000 |
| Interest on Savings | $3,220 |
| Dividends & Interest | $118,000 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$110,142 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $211,078 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,834 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $38,080 |
| Contributions, gifts, grants paid | $337,860 |
| Total expenses and disbursements | $375,940 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,301 |
| Savings and temporary cash investments | $388,006 |
| 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 | $8,100 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,257,188 |
| 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, Betts Foundation has awarded $337,860 in support to 59 organizations.
| Grant Recipient | Amount |
|---|---|
ALYSSA ANDERSON UNIVERSITY OF PITTS PURPOSE: SECONDARY EDUCATION ASSISTANCE | $800 |
ALYSSA DUNHAM UNIVERSITY OF PITTSBU PURPOSE: SECONDARY EDUCATION ASSISTANCE | $800 |
ANDREW GODDEN PENNSYLVANIA COLLEGE PURPOSE: SECONDARY EDUCATION ASSISTANCE | $1,600 |
ASHLEY HOFFMAN PENN STATE - ERIE TH PURPOSE: SECONDARY EDUCATION ASSISTANCE | $1,600 |
CARA MUNKSGARD UNIVERSITY OF PITTSB PURPOSE: SECONDARY EDUCATION ASSISTANCE | $800 |
CAROLINE MASSA PENNSYLVANIA COLLEGE PURPOSE: SECONDARY EDUCATION ASSISTANCE | $800 |