Avenel Foundation
- Assets
- $1.1m
- Revenue
- $159.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Bedford, VA
- Founding
- 12/1986
- Data as of
- 12/2021
- EIN
- 54-1345184
Organization Overview
Avenel Foundation is located in Bedford, VA. The organization was established in 1986. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Avenel 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, Avenel Foundation generated $159.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.4% each year . All expenses for the organization totaled $50.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO RESCUE, RESTORE, PRESERVE AND PROTECT HISTORIC AVENEL, A BEDFORD LEGACY, AND TO MAKE THIS UNIQUE LANDMARK AVAILABLE FOR EDUCATIONAL, SOCIAL, BUSINESS AND OTHER COMMUNITY USES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRESERVED HISTORIC AVENEL IS A RESOURCE TO THE BEDFORD COMMUNITY THAT PROVIDES A VENUE FOR WEDDINGS, LUNCHEONS, FUNDRAISERS, EDUCATIONAL TOURS AND OTHER SIMILAR EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Catlin Treasurer | OfficerTrustee | 8 | $0 |
Elaine Cuesta Secretary | OfficerTrustee | 2 | $0 |
Bryan Allen Secretary | OfficerTrustee | 7 | $0 |
Wyatt Walton President | OfficerTrustee | 2 | $0 |
Annette Kendall Vice Preside | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,940 |
| All other contributions, gifts, grants, and similar amounts not included above | $58,051 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $69,991 |
| Total Program Service Revenue | $34,995 |
| Investment income | $32,079 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $22,182 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $159,247 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $6,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,421 |
| Office expenses | $3,103 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,934 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,894 |
| All other expenses | $346 |
| Total functional expenses | $50,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,145 |
| Savings and temporary cash investments | $650,879 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $496 |
| Net Land, buildings, and equipment | $400,741 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,093,261 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $400 |
| Total liabilities | $400 |
| Net assets without donor restrictions | $1,092,861 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,093,261 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Avenel Foundation has recieved totaling $11,500.
| Awarding Organization | Amount |
|---|---|
Hagan Family Fund Greensboro, NC PURPOSE: REPAIR BASEMENT WALL AND FOUNDATION | $10,500 |
Mf Moorman Family Foundation Thaxton, VA PURPOSE: OPERATING PURPOSE | $1,000 |
Endowment Analysis
| Beg. Balance | $576,930 |
| Earnings | $20,104 |
| Ending Balance | $597,034 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Durham Realty Inc Durham, NC | $66,578,409 | $21,835,955 |
Kanuga Endowment Inc Hendersonville, NC | $0 | $539,404 |
United Jewish Charities Of Greater Charlotte Inc Charlotte, NC | $8,151,447 | $4,750,352 |
Washington Lawyers Committee For Civil Rights & Urban Affairs Washington, DC | $6,938,100 | $7,098,758 |
Dismas Charities Properties Inc Louisville, KY | $71,077,691 | $7,449,643 |
Adira Foundation Richmond, VA | $46,085 | $190,912 |
American Institute Of Certified Public Accountants Foundation Durham, NC | $13,346,405 | $1,363,179 |
Tudor Place Foundation Inc Washington, DC | $3,166,856 | $2,256,203 |
The Beirne Carter Foundation Richmond, VA | $25,189,504 | $3,003,577 |
The Triad Health Project Greensboro, NC | $661,078 | $1,457,249 |
Blowing Rock Charity Horse Show Foundation Inc Blowing Rock, NC | $3,907,755 | $1,476,671 |
Nada Foundation Tysons, VA | $20,736,330 | $5,973,378 |