Charles Russell Wellons Foundation
- Assets
- $6.2m
- Revenue
- $831.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Durham, NC
- Founding
- 11/1994
- Data as of
- 12/2022
- EIN
- 56-1889755
Organization Overview
Charles Russell Wellons Foundation is located in Durham, 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. Charles Russell Wellons 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, Charles Russell Wellons Foundation generated $831.4k 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 (16.2%) each year. All expenses for the organization totaled $390.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.0%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Charles Russell Wellons Foundation has awarded 64 individual grants totaling $1,448,359. 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 |
|---|---|---|---|
William T Allen President | 1 | $0 | |
Charlene Hamlett Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $76,715 |
| Interest on Savings | $82,758 |
| Dividends & Interest | $44 |
| Net Rental Income | $15,528 |
| Net Gain on Sale of Assets | $490,243 |
| Capital Gain Net Income | $490,243 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $18,544 |
| Total Revenue | $831,428 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $4,637 |
| Taxes | $0 |
| Depreciation | $34,012 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $117,272 |
| Total operating and administrative expenses | $173,128 |
| Contributions, gifts, grants paid | $217,449 |
| Total expenses and disbursements | $390,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $529,172 |
| 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 | $127,116 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,284 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $2,426,810 |
| Other assets | $3,152,025 |
| Total assets | $6,238,407 |
| Accounts payable and accrued expenses | $111,490 |
| 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 | $111,490 |
Grants Awarded
Over the last fiscal year, Charles Russell Wellons Foundation has awarded $217,449 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
APPALACHIAN STATE UNIVERSITY PURPOSE: EDUCATION | $1,700 |
BOB JONES UNIVERSITY PURPOSE: EDUCATION | $5,400 |
CALIFORNIA BAPTIST U PURPOSE: EDUCATION | $900 |
CENTRAL PIEDMONT COM COLL PURPOSE: EDUCATION | $1,000 |
COMF PURPOSE: RELIGIOUS | $180,949 |
DALLAS INTERNATIONAL UNIERSITY PURPOSE: EDUCATION | $1,800 |