Paul Millsap Foundation Corp
- Assets
- $42.6k
- Revenue
- $171.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 03/2015
- Data as of
- 12/2023
- EIN
- 47-2449420
Organization Overview
Paul Millsap Foundation Corp is located in Atlanta, GA. The organization was established in 2015. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Paul Millsap Foundation Corp 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, Paul Millsap Foundation Corp generated $171.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $225.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (8.2%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Paul Millsap Foundation Corp has awarded 186 individual grants totaling $5,803,938. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Millsap CEO | 1 | $0 | |
Bettye Millsap CFO | 5 | $375 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $171,028 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $171,028 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $375 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $353 |
| Printing and publications | $0 |
| Other expenses | $901 |
| Total operating and administrative expenses | $8,981 |
| Contributions, gifts, grants paid | $216,000 |
| Total expenses and disbursements | $224,981 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,620 |
| Savings and temporary cash investments | $1,957 |
| 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 | $42,577 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $57,536 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $57,536 |
Grants Awarded
Over the last fiscal year, Paul Millsap Foundation Corp has awarded $216,000 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
A C COATES CORP DBA TOTALITY TKO PURPOSE: TO SUPPORT KIDS BASKETBALL SPORT | $2,000 |
AAU BASKETBALL PURPOSE: TO SUPPORT BASKETBALL PROGRAMS. | $4,000 |
CORE4 LLC PURPOSE: TO PROVIDE SCHOLARSHIP FUND FOR STUDENTS WITH FINANCIAL NEED | $180,000 |
HAMPTON UNIVERSITY PURPOSE: TO PROVIDE SCHOLARSHIP FUND FOR STUDENTS WITH FINANCIAL NEED | $1,250 |
COLOR A POSITIVE THOUGHT PURPOSE: TO PROVIDE SOCIAL EMOTIONAL LEARNING SUPPORT FOR STUDENTS WITH FINANCIAL NEED. | $5,000 |
LINCOLN PREPARATORY PROGRAM PURPOSE: TO PROVIDE SCHOLARSHIP FUND FOR STUDENTS WITH FINANCIAL NEED. | $5,000 |