Joel And Rachel Bomgar Foundation
- Assets
- $1.2m
- Revenue
- $159.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, MS
- Founding
- 03/2015
- Data as of
- 12/2021
- EIN
- 47-2367603
Organization Overview
Joel And Rachel Bomgar Foundation is located in Madison, MS. The organization was established in 2015. 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. Joel And Rachel Bomgar 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, Joel And Rachel Bomgar Foundation generated $159.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.1% each year . All expenses for the organization totaled $381.0k during the year ending 12/2021. While expenses have increased by 24.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Joel And Rachel Bomgar Foundation has awarded 66 individual grants totaling $1,534,417. 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 |
|---|---|---|---|
Joel Bomgar Chairman And Director | 8 | $0 | |
Rachel Bomgar Director | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4 |
| Dividends & Interest | $23,829 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $135,280 |
| Capital Gain Net Income | $135,280 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $159,113 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $400 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $13,003 |
| Total operating and administrative expenses | $13,403 |
| Contributions, gifts, grants paid | $367,636 |
| Total expenses and disbursements | $381,039 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,225,494 |
| 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 | $1,225,494 |
| 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, Joel And Rachel Bomgar Foundation has awarded $367,636 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Madison, MS PURPOSE: THE CONTRIBUTION WAS MADE TO ASSIST THE ORGANIZATION TO FURTHER EDUCATIONAL PURPOSES THROUGH AN INDEPENDENT AND OBJECTIVE EXPOSITION OF STATE REGULATIONS, INCLUDING NONPARTISAN ANALYSIS, STUDY AND RESEARCH. | $216,900 |
Jackson, MS PURPOSE: THE CONTRIBUTION WAS MADE TO ASSIST THE ORGANIZATION IN EDUCATING THE PUBLIC ON THE HISTORY OF THE STATE OF MISSISSIPPI. | $66,000 |
MISSISSIPPI CANNABIS PATIENTS ALLIANCE PURPOSE: THE CONTRIBUTION WAS MADE TO ASSIST THE ORGANIZATION IN AIDING MISSISSIPPI PATIENTS WHOSE QUALITY OF LIFE CAN IMPROVE THROUGH THE SAFE AND WELL-REGULATED USE OF MEDICAL CANNABIS. | $30,000 |
Jackson, MS PURPOSE: TO FACILITATE THE MISSION OF THE ORGANIZATION TO ADVANCE THE IDEALS OF LIMITED GOVERNMENT, FREE MARKETS, AND STRONG TRADITIONAL FAMILIES BY PROVIDING GOVERNMENT OFFICIALS, THE MEDIA, AND THE PUBLIC WITH INFORMATION AND PERSPECTIVE TO HELP THEM UNDERSTAND AND DEFEND LIBERTY. | $20,000 |
Lawrenceville, GA PURPOSE: THIS CONTRIBUTION ALLOWS MISSION TO THE WORLD TO PROVIDE FINANCIAL SUPPORT TO THE PRESBYTERIAN MISSIONARIES THAT THEY SUPPORT ABROAD. | $18,000 |
Jackson, MS PURPOSE: THE CONTRIBUTION WAS MADE TO ASSIST THE ORGANIZATION IN SUPPORTING THE MISSISSIPPI BOOK FESTIVAL. THE ORGANIZATION HELPED THE FESTIVAL DEFRAY THE EXPENSES ASSOCIATED WITH TRANSPORTING AUTHORS TO THE FESTIVAL AND RENTING FACILITIES FOR FESTIVAL EVENTS. | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pyramid Peak Foundation Memphis, TN | $230,284,852 | $119,724,559 |
Alice L Walton Foundation Bentonville, AR | $3,555,974,062 | $449,327,995 |
Jesus Fund Little Rock, AR | $476,522,715 | $128,635,887 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
Builders Initiative Bentonville, AR | $992,945,696 | $530,265,880 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |
Union General Hospital Farmerville, LA | $25,999,661 | $20,373,665 |
Fore Kids Foundation Inc Avondale, LA | $11,128,381 | $16,554,167 |
Willard And Pat Walker Charitable Foundation Inc Fayetteville, AR | $353,155,323 | $36,054,174 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |
Robert E And Jenny D Kirkland Foundation Union City, TN | $287,925,102 | $17,113,043 |
Speer Foundation Brentwood, TN | $160,979,713 | $8,246,449 |