Charles L Young Sr Foundation
- Assets
- $1.6m
- Revenue
- $41.4k
- Investments
- $1.3m
- Employees
- 0
- Location
- Meridian, MS
- Founding
- 10/2002
- Data as of
- 12/2022
- EIN
- 30-0112321
Organization Overview
Charles L Young Sr Foundation is located in Meridian, MS. The organization was established in 2002. 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. Charles L Young Sr 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, Charles L Young Sr Foundation generated $41.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.7%) each year. All expenses for the organization totaled $89.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Charles L Young Sr Foundation has awarded 79 individual grants totaling $130,119. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
MCC FOUNDATION
JUNIOR AUXILIARY OF MERIDIAN
MERIDIAN HIGH SCHOOL
THE MAEEX-JUNETEENTH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles L Young Jr Trustee | 10 | $4,472 | |
Deidre Melton Trustee | 0 | $0 | |
Veldore Young Graham Trustee | 10 | $4,472 | |
Arthur S Young Trustee | 10 | $5,972 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $41,352 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $170,595 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $41,352 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $14,916 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $3,000 |
| Printing and publications | $0 |
| Other expenses | $12,943 |
| Total operating and administrative expenses | $31,559 |
| Contributions, gifts, grants paid | $58,142 |
| Total expenses and disbursements | $89,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $253,050 |
| 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 | $341,234 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,583,249 |
| 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, Charles L Young Sr Foundation has awarded $27,470 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF MERIDIAN PURPOSE: SCHOLARSHIP | $3,000 |
GIRL SCOUTS TROOP 6403 PURPOSE: SCHOLARSHIP | $200 |
NAACP OF DESOTO PURPOSE: SCHOLARSHIP | $400 |
NATIONAL CENTER FOR PURPOSE: SCHOLARSHIP | $1,895 |
EAST END TEMPLE LODGE PURPOSE: SCHOLARSHIP | $250 |
COMMUNITY FOUNDATION PURPOSE: SCHOLARSHIP | $500 |