Town Foundation
- Assets
- $1.5m
- Revenue
- $57.5k
- Investments
- $1.5m
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 10/1989
- Data as of
- 12/2022
- EIN
- 54-1442707
Organization Overview
Town Foundation is located in Norfolk, VA. The organization was established in 1989. 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. Town 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 12/2022, Town Foundation generated $57.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $83.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Town Foundation has awarded 24 individual grants totaling $626,451. 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 |
|---|---|---|---|
Wilson B Dodson V/p | 0 | $0 | |
Yvonne T Allmond President | 0 | $0 | |
Susan Longman Director | 0 | $0 | |
Ramin Alimard Director | 0 | $0 | |
Bruce Longman Treasurer | 0 | $0 | |
Kay R Egan Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $11 |
| Dividends & Interest | $39,467 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $18,059 |
| Capital Gain Net Income | $18,059 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $57,537 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $599 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,469 |
| Printing and publications | $0 |
| Other expenses | $756 |
| Total operating and administrative expenses | $17,797 |
| Contributions, gifts, grants paid | $65,637 |
| Total expenses and disbursements | $83,434 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,363 |
| Savings and temporary cash investments | $0 |
| 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 | $871 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,501,824 |
| 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, Town Foundation has awarded $65,637 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
OLD DOMINION UNIVERSITY PURPOSE: SCHOLARSHIPS | $37,637 |
Harrisonburg, VA PURPOSE: SCHOLARSHIPS | $28,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robins Foundation Richmond, VA | $182,936,779 | $19,761,890 |
Jacob And Hilda Blaustein Foundation Inc Baltimore, MD | $130,688,531 | $27,779,767 |
Carson-Myre Charitable Foundation Paducah, KY | $72,587,857 | $8,781,396 |
Virginia Institute Of Autism Incorporated Charlottesville, VA | $13,400,970 | $11,731,710 |
Clark-Winchcole Foundation Bethesda, MD | $197,708,650 | $12,024,655 |
Joe C Davis Foundation Nashville, TN | $101,782,891 | $6,182,733 |
National Minority Quality Forum Inc Washington, DC | $4,852,871 | $11,649,230 |
Gambrell Foundation Charlotte, NC | $0 | $18,901,501 |
Day Foundation Memphis, TN | $0 | $13,711,953 |
Clayton Family Foundation Knoxville, TN | $90,913,195 | $17,391,150 |
Affordable Housing Opportunity Fund Inc Charlottesville, VA | $703,537 | $6,974,715 |
G Harbaugh Foundation Franklin, TN | $61,708,468 | $12,393,056 |