Leonard G Herring Family Foundation Inc
- Assets
- $23.2m
- Revenue
- $3.4m
- Investments
- $21.9m
- Employees
- 0
- Location
- Wilkesboro, NC
- Founding
- 09/1994
- Data as of
- 12/2022
- EIN
- 56-1881015
Organization Overview
Leonard G Herring Family Foundation Inc is located in Wilkesboro, NC. The organization was established in 1994. 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. Leonard G Herring 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, Leonard G Herring Family Foundation Inc generated $3.4m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 47.1% each year . All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 8.6% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Leonard G Herring Family Foundation Inc has awarded 117 individual grants totaling $4,123,450. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rozelia S Herring Vice-President | 0.5 | $0 | |
Sandra G Herring Secretary | 0.5 | $0 | |
A Lee Herring II President/treasurer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Broward Grove | 12/30/22 | $122,202 |
Pathstone | 12/30/22 | $80,000 |
Broward Grove | 12/30/22 | $0 |
Pathstone | 12/30/22 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $923,835 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$183,196 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,702,353 |
| Total Revenue | $3,442,992 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $391 |
| Taxes | $33,519 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $2,037 |
| Printing and publications | $0 |
| Other expenses | $1,329 |
| Total operating and administrative expenses | $279,256 |
| Contributions, gifts, grants paid | $1,738,450 |
| Total expenses and disbursements | $2,017,706 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $689,639 |
| 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 | $21,202,527 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $537,393 |
| Total assets | $23,151,620 |
| 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, Leonard G Herring Family Foundation Inc has awarded $1,738,450 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
ALPHA SIGMA FOUNDATION PURPOSE: GENERAL SUPPORT | $5,000 |
AMERICAN CANCER SOCIETY PURPOSE: GENERAL SUPPORT | $3,000 |
BLUE RIDGE OPPORTUNITY COMMISSION INC PURPOSE: GENERAL SUPPORT | $40,000 |
CATHERINE H BARBER MEMORIAL SHELTER INC PURPOSE: GENERAL SUPPORT | $100,000 |
FIRST UNITED METHODIST CHURCH PURPOSE: GENERAL SUPPORT | $40,000 |
FOCUSING PHILANTHROPY INC (PER SCHOLAS) PURPOSE: GENERAL SUPPORT | $200,000 |