Petit Family Foundation
- Assets
- $1.0m
- Revenue
- $81.6k
- Investments
- $1.0m
- Employees
- 0
- Location
- Milton, GA
- Founding
- 12/2014
- Data as of
- 06/2022
- EIN
- 47-6434528
Organization Overview
Petit Family Foundation is located in Milton, GA. The organization was established in 2014. 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. Petit Family 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 06/2022, Petit Family Foundation generated $81.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.7%) each year. All expenses for the organization totaled $11.5k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (27.9%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Parker H Petit Trustee | 0.25 | $0 | |
Janet Petit Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $17,039 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $64,566 |
| Capital Gain Net Income | $64,566 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $81,605 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,100 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $11,516 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $11,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $19,237 |
| 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 | $824,765 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,020,614 |
| 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, Petit Family Foundation has awarded $157,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
HINRI LABS INC PURPOSE: DONATION TO PROMOTE THE ORGANIZATION'S MISSION TO CONNECT INNOVATORS IN ORDER TO SOLVE THE WORLD'S DIFFICULT HEALTH CHALLENGES | $15,000 |
TURNING POINT PURPOSE: DONATION FOR GENERAL FUNDS | $25,000 |
IDEALS FOUNDATION PURPOSE: DONATION TO HELP THE ORGANIZATION IMPACT YOUNG LIVES THROUGH EDUCATION | $10,000 |
LIVING ON THE EDGE PURPOSE: DONATION TO PROMOTE THE ORGANIZATION'S MISSION TO HELP FAMILIES, CHURCHES AND COMMUNITIES | $10,000 |
SPIRIT OF AMERICA FOUNDATION PURPOSE: FUNDING FOR "YOU MATTER" CAMPAIGN | $12,000 |
GLOBAL HOPE PURPOSE: GENERAL FUNDING FOR ORGANIZATIONS MISSION | $35,000 |