Falatok Foundation
- Assets
- $2.7m
- Revenue
- $169.3k
- Investments
- $1.0m
- Employees
- 0
- Location
- Spartanburg, SC
- Founding
- 04/2008
- Data as of
- 12/2021
- EIN
- 26-0641848
Organization Overview
Falatok Foundation is located in Spartanburg, SC. The organization was established in 2008. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, 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. Falatok 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, Falatok Foundation generated $169.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $75.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Falatok Foundation has awarded 21 individual grants totaling $270,000. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CHARITABLE AND PHILANTHROPIC ENDEAVORS IN SUPPORT OF AND IN CONJUCTION WITH THE SPARTANBURG COUNTY FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARITABLE AND PHILANTHROPIC ENDEAVORS IN SUPPORT OF AND IN CONJUCTION WITH THE SPARTANBURG COUNTY FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher J Falatok Secretary | OfficerTrustee | 1 | $0 |
Andrew J Falatok Chairman | OfficerTrustee | 1 | $0 |
T Charles Conrad III Director | Trustee | 1 | $0 |
James M Smith Director | Trustee | 1 | $0 |
Terry L Cash Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $102,929 |
| Noncash contributions included in lines 1a–1f | $102,929 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $102,929 |
| Total Program Service Revenue | $0 |
| Investment income | $14,271 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,376 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $169,333 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $10,699 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $75,699 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,003,016 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,707,676 |
| Total assets | $2,710,692 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $2,710,692 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,710,692 |
Grants Awarded
Over the last fiscal year, Falatok Foundation has awarded $65,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Spartanburg, SC PURPOSE: GENERAL SUPPORT | $25,000 |
Spartanburg, SC PURPOSE: GENERAL SUPPORT | $20,000 |
Spartanburg, SC PURPOSE: GENERAL SUPPORT | $10,000 |
Spartanburg, SC PURPOSE: GENERAL SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cf Foundation Inc Atlanta, GA | $60,851,215 | $5,130,874 |
The David Belk Cannon Foundation Gastonia, NC | $0 | $4,765,855 |
World Poultry Foundation Inc Tucker, GA | $28,014,565 | $2,601,293 |
Seymour Family Foundation Irrev Charitable Trust Uad 12-21-15 Charlotte, NC | $3,421,952 | $6,290,943 |
Waterfall Foundation Inc Atlanta, GA | $17,781,141 | $467,284 |
Charity Assets Trust Cumming, GA | $3,483 | $1,605,049 |
Stanley & Dorothy Frank Family Foundation Greensboro, NC | $39,060,672 | $2,145,860 |
Wtvi Foundation Inc Charlotte, NC | $160,743 | $1,470,825 |
Give Hope Inc Fort Mill, SC | $274,248 | $1,115,551 |
Camp Albemarle New Bern, NC | $992,652 | $1,285,494 |
Halpern-Oppenheimer Family Foundation Inc Atlanta, GA | $16,224,264 | $7,515,082 |
Rockdale Foundation Inc Atlanta, GA | $4,435,814 | $150,076 |