Glass Family Foundation Inc
- Assets
- $24.4m
- Revenue
- $3.2m
- Investments
- $17.5m
- Employees
- 0
- Location
- Asheville, NC
- Founding
- 08/2001
- Data as of
- 12/2021
- EIN
- 56-2196225
Organization Overview
Glass Family Foundation Inc is located in Asheville, NC. The organization was established in 2001. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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. Glass 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, Glass Family Foundation Inc generated $3.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $2.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lara Glass President | 0 | $75,103 | |
Kenneth E Glass Bd Dir Chmn | 0 | $0 | |
Nancy J Glass Vp/secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,189,457 |
| Interest on Savings | $148,267 |
| Dividends & Interest | $288,239 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,315,418 |
| Capital Gain Net Income | $69,714 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $238,554 |
| Total Revenue | $3,179,935 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $75,103 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $191 |
| Taxes | $14,194 |
| Depreciation | $46,510 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $234,539 |
| Total operating and administrative expenses | $402,977 |
| Contributions, gifts, grants paid | $2,272,568 |
| Total expenses and disbursements | $2,675,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $851,263 |
| 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 | $5,000 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $5,309,230 |
| Other assets | $781,697 |
| Total assets | $24,447,807 |
| 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 | $30,500 |
| Total liabilities | $30,500 |
Grants Awarded
Over the last fiscal year, Glass Family Foundation Inc has awarded $2,272,568 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SEE ATTACHED PURPOSE: CHARITABLE | $1,926,106 |
Asheville, NC PURPOSE: CHARITABLE | $346,462 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Charitable Ashburn, VA | $209,799,923 | $22,185,205 |
Wnc Bridge Foundation Asheville, NC | $146,559,840 | $12,380,465 |
Hope For The Warriors Springfield, VA | $4,615,443 | $8,207,781 |
The Savannah Community Foundation Inc Savannah, GA | $54,173,792 | $9,998,384 |
Spookstock Foundation Leesburg, VA | $1,341,695 | $5,091,159 |
The Methuselah Foundation Springfield, VA | $18,792,317 | $14,799,805 |
The Giving Kitchen Initiative Inc Atlanta, GA | $5,202,127 | $3,829,430 |
Kermit G Phillips Ii Charitable Tr Greensboro, NC | $71,515,607 | $5,235,464 |
Troon Foundation Elon, NC | $48,656,909 | $2,507,639 |
Frances P Bunnelle Foundation Pawleys Island, SC | $50,346,506 | $4,044,110 |
Glass Family Foundation Inc Asheville, NC | $24,447,807 | $3,179,935 |
Speedway Childrens Charities Concord, NC | $415,792 | $1,752,353 |