Babcox Family Foundation Inc
- Assets
- $6.3m
- Revenue
- $338.1k
- Investments
- $6.1m
- Employees
- 0
- Location
- Akron, OH
- Founding
- 02/1995
- Data as of
- 12/2022
- EIN
- 34-1787178
Organization Overview
Babcox Family Foundation Inc is located in Akron, OH. The organization was established in 1995. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Babcox 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, Babcox Family Foundation Inc generated $338.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (27.8%) each year. All expenses for the organization totaled $350.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Babcox Family Foundation Inc has awarded 143 individual grants totaling $2,846,102. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Edward Babcox Trustee | 0 | $0 | |
Sarah Babcox Harrity Trustee | 0 | $0 | |
Lucy B Morris Trustee | 0 | $0 | |
Tom B Babcox Jr Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $117,201 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $220,948 |
| Capital Gain Net Income | $220,948 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $338,149 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $13,831 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $850 |
| Total operating and administrative expenses | $39,750 |
| Contributions, gifts, grants paid | $311,100 |
| Total expenses and disbursements | $350,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $139,844 |
| 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 | $6,258,314 |
| 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, Babcox Family Foundation Inc has awarded $311,100 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
BATTERED WOMEN'S SHELTER PURPOSE: OPERATING COSTS OF PROGRAMS AND SERVICES FOR DOMESTIC VIOLENCE VICTIMS AND THEIR CHILDREN | $25,000 |
ACCESS INC PURPOSE: FOCUS ON THE FUTURE PROGRAM (IMMEDIATE NEEDS FOR HOMLESS CHILDREN) | $12,500 |
BRIGHT STAR BOOKS PURPOSE: SUPPORT PROGRAM COORDINATOR'S WORK DISTRIBUTING BOOKS TO AKRON AREA CHILDREN | $16,000 |
BOYS AND GIRLS CLUB OF SUMMIT COUNTY PURPOSE: GENERAL OPERATING FUND | $15,000 |
DIRECTION HOME PURPOSE: ALZHEIMER'S RESPITE PROGRAM | $10,000 |
EMBRACING FUTURES PURPOSE: ORTHODONTIC CARE PROGRAM FOR 3 CHILDREN | $36,000 |