Evernham Family-Racing For A Reason Foundation
- Assets
- $2.5m
- Revenue
- $513.0k
- Investments
- $1.9m
- Employees
- 0
- Location
- Mooresville, NC
- Founding
- 12/1997
- Data as of
- 12/2022
- EIN
- 56-2053289
Organization Overview
Evernham Family-Racing For A Reason Foundation is located in Mooresville, NC. The organization was established in 1997. 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. Evernham Family-Racing For A Reason 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, Evernham Family-Racing For A Reason Foundation generated $513.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $657.2k during the year ending 12/2022. While expenses have increased by 14.3% 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 2017, Evernham Family-Racing For A Reason Foundation has awarded 115 individual grants totaling $1,995,913. 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 |
|---|---|---|---|
Raymond D Evernham Jr President | 3 | $0 | |
Erin C Evernham Director | 0.5 | $0 | |
William Evernham Sr Director | 0.5 | $0 | |
Raymond J Evernham Director | 0.5 | $0 | |
Emory Det Cullum Director | 3 | $5,000 | |
Richard D Russell Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $509,883 |
| Interest on Savings | $0 |
| Dividends & Interest | $46,910 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$43,802 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $512,991 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $5,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,060 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $92,020 |
| Total operating and administrative expenses | $105,185 |
| Contributions, gifts, grants paid | $551,976 |
| Total expenses and disbursements | $657,161 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $656,071 |
| Savings and temporary cash investments | $0 |
| 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 | $86,654 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $21,000 |
| Total assets | $2,535,167 |
| Accounts payable and accrued expenses | $9,518 |
| 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 | $9,518 |
Grants Awarded
Over the last fiscal year, Evernham Family-Racing For A Reason Foundation has awarded $551,976 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
THE NASCAR FOUNDATION PURPOSE: CONTRIBUTION | $10,000 |
NOVANT HEALTH FOUNDATION PURPOSE: CONTRIBUTION | $25,000 |
THE AUTISM SOCIETY OF NC PURPOSE: CONTRIBUTION | $407,154 |
JEFF GORDON CHILDREN'S FOUNDATION PURPOSE: CONTRIBUTION | $5,000 |
MOTOR RACING OUTREACH PURPOSE: CONTRIBUTION | $1,960 |
SIERRA DELTA PURPOSE: CONTRIBUTION | $2,000 |