Stuart And Margaret L Forbes Foundation Inc
- Assets
- $1.3m
- Revenue
- $91.1k
- Investments
- $1.2m
- Employees
- 0
- Location
- Columbus, NC
- Founding
- 10/1998
- Data as of
- 12/2022
- EIN
- 56-2079528
Organization Overview
Stuart And Margaret L Forbes Foundation Inc is located in Columbus, NC. The organization was established in 1998. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stuart And Margaret L Forbes 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, Stuart And Margaret L Forbes Foundation Inc generated $91.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $80.6k during the year ending 12/2022. While expenses have increased by 7.6% per year over the past 8 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, Stuart And Margaret L Forbes Foundation Inc has awarded 13 individual grants totaling $255,974. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS GRANTS: THESE FUNDS ARE AWARDED TO POLK COUNTY SCHOOLS AND LANIER LIBRARY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James T Boyle Jr Vice Chr/pre | 2 | $0 | |
Susan Mchugh Chair/vice P | 2 | $0 | |
F K Mcfarland III Direct/sec/t | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,786 |
| Dividends & Interest | $34,952 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $52,250 |
| Capital Gain Net Income | $52,250 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $114 |
| Total Revenue | $91,102 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,513 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $518 |
| Printing and publications | $0 |
| Other expenses | $3,065 |
| Total operating and administrative expenses | $14,096 |
| Contributions, gifts, grants paid | $66,500 |
| Total expenses and disbursements | $80,596 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,079 |
| Savings and temporary cash investments | $92,721 |
| 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 | $1,315,147 |
| 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, Stuart And Margaret L Forbes Foundation Inc has awarded $66,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LANIER LIBRARY PURPOSE: OPERATIONAL EXPENSES | $1,500 |
POLK COUNTY SCHOOLS PURPOSE: OPERATIONAL SUPPORT | $65,000 |