Armat Foundation Inc
- Assets
- $1.4m
- Revenue
- $98.6k
- Investments
- $1.3m
- Employees
- 0
- Location
- Mount Airy, NC
- Founding
- 10/1997
- Data as of
- 12/2021
- EIN
- 56-2045002
Organization Overview
Armat Foundation Inc is located in Mount Airy, NC. The organization was established in 1997. 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. Armat 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, Armat Foundation Inc generated $98.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $157.3k during the year ending 12/2021. While expenses have increased by 5.4% per year over the past 7 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 2016, Armat Foundation Inc has awarded 104 individual grants totaling $539,047. 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 |
|---|---|---|---|
Betty Wright President, Secretary | 1 | $0 | |
Tamra Wright Thomas Asst. Sec. | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $6 |
| Dividends & Interest | $79,785 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $18,790 |
| Capital Gain Net Income | $18,790 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $98,581 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $935 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $5,531 |
| Contributions, gifts, grants paid | $151,800 |
| Total expenses and disbursements | $157,331 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,395 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $41 |
| 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 | $236 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,391,514 |
| 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, Armat Foundation Inc has awarded $151,800 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
Mount Airy, NC PURPOSE: UNRESTRICTED | $150,000 |
Mount Airy, NC PURPOSE: UNRESTRICTED | $500 |
BOY SCOUTS OF AMERICA - OLD HICKORY COUNCIL PURPOSE: UNRESTRICTED | $500 |
Dobson, NC PURPOSE: UNRESTRICTED | $200 |
MOUNT AIRY ROTARY PURPOSE: UNRESTRICTED | $100 |
SURRY COUNTY HISTORICAL SOCIETY PURPOSE: UNRESTRICTED | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Arthur M Blank Family Foundation Atlanta, GA | $365,187,486 | $84,889,977 |
Pyramid Peak Foundation Memphis, TN | $230,284,852 | $119,724,559 |
John Bulow Campbell Foundation Atlanta, GA | $793,659,742 | $103,345,098 |
The Rosser Foundation A Pure Charitable Trust And Public Charit Hampton, VA | $12,195,900 | $36,359,396 |
Darla Moore And Richard Rainwater Foundation Lake City, SC | $538,432,800 | $34,322,461 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
John M Belk Endowment Charlotte, NC | $344,527,989 | $19,824,991 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
The Henry W Grady Health System Foundation Inc Atlanta, GA | $41,862,389 | $12,481,516 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |
The Ezrah Charitable Trust Charlotte, NC | $259,414,844 | $89,054,665 |