The Hedrick Family Foundation Inc
- Assets
- $333.7k
- Revenue
- $267.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Salisbury, NC
- Founding
- 11/1996
- Data as of
- 12/2021
- EIN
- 56-1994087
Organization Overview
The Hedrick Family Foundation Inc is located in Salisbury, NC. The organization was established in 1996. 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. Hedrick 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 12/2021, Hedrick Family Foundation Inc generated $267.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $189.7k during the year ending 12/2021. While expenses have increased by 5.0% per year over the past 6 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 2015, Hedrick Family Foundation Inc has awarded 440 individual grants totaling $1,101,948. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROCK THE QUARRY BENEFIT RUN - ROCK THE QUARRY IS A FOOT RACE WITH A MISSION TO BRING OUR COMMUNITY TOGETHER TO CELEBRATE GOOD HEALTH IN OUR BEAUTIFUL SOURROUNDING WHILE SUPPORTING OUR NEIGHBORS. NET PROCEEDS FROM THE EVENT BENEFIT BLACK MOUNTAIN HOME FOR CHILDREN AND ASHEVILLE MUSEUM OF SCIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey V Goodman President | 0 | $0 | |
Jane B Arnold VP & Treasur | 0 | $0 | |
Arthur L Hattaway Jr Assistant Se | 0 | $0 | |
F Joanne Johnson Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $205,711 |
| Interest on Savings | $2 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $61,592 |
| Total Revenue | $267,305 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $9,369 |
| Total operating and administrative expenses | $9,370 |
| Contributions, gifts, grants paid | $180,325 |
| Total expenses and disbursements | $189,695 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $310,866 |
| Savings and temporary cash investments | $22,876 |
| 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 | $333,742 |
| 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, The Hedrick Family Foundation Inc has awarded $180,325 in support to 67 organizations.
| Grant Recipient | Amount |
|---|---|
BLACK MOUNTAIN HOME FOR CHILDREN PURPOSE: CHARITABLE USE | $37,000 |
Asheville, NC PURPOSE: CHARITABLE USE | $32,280 |
BOYS & GIRLS CLUB OF HENDERSON PURPOSE: CHARITABLE USE | $10,000 |
DREAN ON 3 PURPOSE: CHARITABLE USE | $8,901 |
GIFTS FOR ST NICHOLAS FOUNDATION PURPOSE: CHARITABLE USE | $5,000 |
ASHEVILLE HABITAT FOR HUMANITY PURPOSE: CHARITABLE USE | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
The Murray & Sydell Rosenberg Foundation Inc Atlanta, GA | $5,561,714 | $74,985,544 |
Joseph B Whitehead Foundation Atlanta, GA | $148,285,590 | $58,163,845 |
Winshape Foundation Inc Atlanta, GA | $1,733,664,901 | $22,099,572 |
A Good Name Foundation Inc Atlanta, GA | $709,299,721 | $33,917,740 |
Jane Woodruff Foundation Inc Atlanta, GA | $0 | $54,999,988 |
Ups Foundation Inc Atlanta, GA | $8,317,427 | $54,799,163 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |