The Glasscock Family Foundation Inc
- Assets
- $10.1m
- Revenue
- $1.2m
- Investments
- $10.0m
- Employees
- 0
- Location
- Albany, NY
- Founding
- 03/2010
- Data as of
- 12/2022
- EIN
- 26-1546714
Organization Overview
The Glasscock Family Foundation Inc is located in Albany, NY. The organization was established in 2010. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Glasscock Family 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 12/2022, Glasscock Family Foundation Inc generated $1.2m 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 (5.4%) each year. All expenses for the organization totaled $642.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLEASE NOTE, THE FOUNDATION IS NOT INVOLVED IN ANY DIRECTCHARITABLE ACTIVITIES. ITS PRIMARY PURPOSE IS TO SUPPORT,BY CONTRIBUTIONS, OTHER CHARITABLE ORGANIZATIONS EXEMPTUNDER INTERNAL REVENUE CODE SECTION 501(C)(3).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry C Glasscock Pres/treas/dir | 1 | $0 | |
Lee Ann Glasscock Sec/dir | 1 | $0 | |
Michael C Glasscock Vice Pres/dir | 1 | $0 | |
Julie M Jeffrey-Glasscock Vice Pres/dir | 1 | $0 | |
Brian E West Vice Pres/dir | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $498,247 |
| Interest on Savings | $0 |
| Dividends & Interest | $327,089 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $375,568 |
| Capital Gain Net Income | $375,568 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,200,904 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,431 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $741 |
| Total operating and administrative expenses | $56,652 |
| Contributions, gifts, grants paid | $586,000 |
| Total expenses and disbursements | $642,652 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,099 |
| 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 | $118,250 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $32,356 |
| Total assets | $10,136,524 |
| 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, The Glasscock Family Foundation Inc has awarded $586,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
INDIANA UNIVERSITY FOUNDATION PURPOSE: UNRESTRICTED | $400,000 |
IU FOUNDATION - 100 VOICES OF HOPE PURPOSE: UNRESTRICTED | $1,000 |
BOYS HOPE GIRLS HOPE PURPOSE: UNRESTRICTED | $60,000 |
CHRISTEL HOUSE INTERNATIONAL PURPOSE: UNRESTRICTED | $125,000 |