Hugh I Shott Jr Foundation
- Assets
- $54.3m
- Revenue
- $1.0m
- Investments
- $52.7m
- Employees
- 0
- Location
- Bluefield, WV
- Founding
- 10/1986
- Data as of
- 12/2021
- EIN
- 55-0650833
Organization Overview
Hugh I Shott Jr Foundation is located in Bluefield, WV. The organization was established in 1986. 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. Hugh I Shott Jr 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, Hugh I Shott Jr Foundation generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $2.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Hugh I Shott Jr Foundation has awarded 44 individual grants totaling $4,489,141. 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 |
|---|---|---|---|
Frank W Wilkinson Vice President | 5 | $40,000 | |
Michael R Shott Director | 1 | $0 | |
Charlie Cole Director | 0 | $0 | |
Ronnie Hypes Director | 1 | $0 | |
W Chandler Swope Director | 1 | $0 | |
John H Shott President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $909,290 |
| Net Rental Income | -$53,603 |
| Net Gain on Sale of Assets | $52,099 |
| Capital Gain Net Income | $52,099 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,004,941 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $40,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $21,640 |
| Depreciation | $56,679 |
| Occupancy | $10,802 |
| Travel, conferences, and meetings | $1,819 |
| Printing and publications | $0 |
| Other expenses | $21,110 |
| Total operating and administrative expenses | $432,170 |
| Contributions, gifts, grants paid | $2,297,228 |
| Total expenses and disbursements | $2,729,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $193,266 |
| 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 | $100,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $1,304,100 |
| Investments—mortgage loans | $0 |
| Investments—other | $24,088,952 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $54,314,234 |
| 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, Hugh I Shott Jr Foundation has awarded $2,297,228 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
Bluefield, WV PURPOSE: CHARITABLE - GRANADA THEATER PROJECT | $385,000 |
CITY OF BLUEFIELD WV PURPOSE: CHARITABLE - EXIT 1 PROJECT | $375,000 |
CENTER FOR APPLIED RESEARCH PURPOSE: CHARITABLE - EQUIPMENT FOR RETAIN PROJECT | $273,750 |
TOWN OF BLUEFIELD VIRGINIA PURPOSE: CHARITABLE - ASSIST WITH RENOVATION/UPGRADES GOLF COURSE | $200,000 |
Athens, WV PURPOSE: CHARITABLE - TURF REPLACEMENT ON JUNE O SHOTT FIELD | $150,000 |
Princeton, WV PURPOSE: CHARITABLE - 5TH INSTALLMENT OF PLEDGE FOR COMMUNITY AND CONFERENCE CENTER | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |
Jewish Foundation Of Cincinnati Cincinnati, OH | $344,322,004 | $65,111,190 |
Charles F Kettering Foundation Dayton, OH | $413,895,327 | $17,762,033 |
Jay And Jeanie Schottenstein Foundation Columbus, OH | $12,858,446 | $29,259,001 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
The Lozick Family Foundation Pepper Pike, OH | $264,438,182 | $44,457,050 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |