Wellons Family Foundation
- Assets
- $2.3m
- Revenue
- $93.3k
- Investments
- $691.2k
- Employees
- 0
- Location
- Morehead City, NC
- Founding
- 05/2000
- Data as of
- 12/2022
- EIN
- 56-2190192
Organization Overview
Wellons Family Foundation is located in Morehead City, NC. The organization was established in 2000. 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. Wellons Family 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, Wellons Family Foundation generated $93.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $51.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Wellons Family Foundation has awarded 66 individual grants totaling $757,203. 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 |
|---|---|---|---|
Jean R Wellons President | 0 | $0 | |
Elizabeth Morrice Officer | 1 | $0 | |
Gaye Wellons Mashburn Secretary | 1 | $0 | |
Kathryn W Todd Officer | 1 | $0 | |
Joy W Moore Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $56,600 |
| Interest on Savings | $566 |
| Dividends & Interest | $7,179 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $25,678 |
| Capital Gain Net Income | $25,678 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,234 |
| Total Revenue | $93,257 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,816 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,197 |
| Total operating and administrative expenses | $11,703 |
| Contributions, gifts, grants paid | $39,880 |
| Total expenses and disbursements | $51,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $429,567 |
| Savings and temporary cash investments | $74,807 |
| 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 | $504 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $691,246 |
| Net Land, buildings, and equipment | $992,800 |
| Other assets | $80,000 |
| Total assets | $2,268,924 |
| 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, Wellons Family Foundation has awarded $39,880 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
GLAD TIDINGS CHURCH PURPOSE: GENERAL FUND | $21,280 |
THE BROAD STREET CLINIC PURPOSE: GENERAL FUND | $1,000 |
EMMANUEL COLLEGE PURPOSE: GENERAL FUND | $3,000 |
MISCELLANEOUS PURPOSE: GENERAL | $2,100 |
CARTERET COMMUNITY COLLEGE FOUNDATI PURPOSE: EDUCATION | $1,000 |
CRYSTAL COAST HABITAT FOR HUMANITY PURPOSE: GENERAL FUND | $500 |