Cole Family Foundation Inc
- Assets
- $89.4k
- Revenue
- $37.0k
- Investments
- $86.4k
- Employees
- 0
- Location
- Vienna, WV
- Founding
- 05/2003
- Data as of
- 12/2022
- EIN
- 55-0820931
Organization Overview
Cole Family Foundation Inc is located in Vienna, WV. The organization was established in 2003. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Cole Family Foundation Inc 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, Cole Family Foundation Inc generated $37.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $59.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Cole Family Foundation Inc has awarded 87 individual grants totaling $370,325. 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 |
|---|---|---|---|
Robert D Cole President & Treasurer | 30 | $18,000 | |
Debra Cole Vice Chairperson & Secretary | 1 | $0 | |
Alan Wong Chairperson | 1 | $0 | |
Jennifer Salgado Director | 1 | $0 | |
Jimmy Wilson Director | 1 | $0 | |
Patty Wilson Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $13,495 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,810 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $19,655 |
| Capital Gain Net Income | $19,655 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $36,960 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $18,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,952 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $4,572 |
| Printing and publications | $0 |
| Other expenses | $20,325 |
| Total operating and administrative expenses | $50,703 |
| Contributions, gifts, grants paid | $8,470 |
| Total expenses and disbursements | $59,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,950 |
| Savings and temporary cash investments | $981 |
| 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 | $89,375 |
| 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 | $162 |
| Total liabilities | $162 |
Grants Awarded
Over the last fiscal year, Cole Family Foundation Inc has awarded $8,470 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
COMMON HOPE PURPOSE: SUPPORT CHARITABLE PURPOSE | $820 |
TREVECCA NAZARENE UNIVERSITY PURPOSE: SUPPORT CHARITABLE PURPOSE | $250 |
WE CARE ARTS PURPOSE: SUPPORT CHARITABLE PURPOSE | $5,000 |
WORLDLINK ASSOCIATES INC PURPOSE: SUPPORT CHARITABLE PURPOSE | $2,400 |