Faraway Foundation
- Assets
- $948.3k
- Revenue
- $40.9k
- Investments
- $942.2k
- Employees
- 0
- Location
- Birmingham, AL
- Founding
- 01/2009
- Data as of
- 12/2023
- EIN
- 26-1594922
Organization Overview
Faraway Foundation is located in Birmingham, AL. The organization was established in 2009. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Faraway 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 12/2023, Faraway Foundation generated $40.9k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $58.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Faraway Foundation has awarded 46 individual grants totaling $482,539. 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 |
|---|---|---|---|
Merrill N Bradley Director | 0.5 | $0 | |
Thomas Lyons Bradley Secretary | 0.5 | $0 | |
Mary Allen Bradley President | 0.5 | $0 | |
Merrill N Bradley Jr Treasurer | 0.5 | $0 | |
Julia R Cullimore Vice President | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $44,021 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$3,120 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $40,901 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,390 |
| Total operating and administrative expenses | $12,690 |
| Contributions, gifts, grants paid | $45,500 |
| Total expenses and disbursements | $58,190 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,154 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $948,310 |
| 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, Faraway Foundation has awarded $45,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
AIDB FOUNDATION PURPOSE: OPERATING SUPPORT OF ORGANIZATION | $9,100 |
THE EXCEPTIONAL FOUNDATION PURPOSE: OPERATING SUPPORT OF ORGANIZATION | $9,100 |
LAKESHORE FOUNDATION PURPOSE: SUPPORT OF OPERATION LIMA FOXTROT | $9,100 |
THE COMMUNITY KITCHENS OF BIRMINGHAM PURPOSE: OPERATING SUPPORT OF ORGANIZATION | $9,100 |
HAND IN PAW PURPOSE: OPERATING SUPPORT OF ORGANIZATION | $9,100 |