Glass Family Foundation Inc
- Assets
- $24.6m
- Revenue
- $2.5m
- Investments
- $16.6m
- Employees
- 0
- Location
- Asheville, NC
- Founding
- 08/2001
- Data as of
- 12/2022
- 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 12/2022, Glass Family Foundation Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $2.3m during the year ending 12/2022. While expenses have increased by 4.4% per year over the past 4 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth E Glass Bd Dir Chmn | 0 | $0 | |
Nancy J Glass Vp/secretary | 0 | $0 | |
Lara Glass President | 0 | $80,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $170,000 |
| Interest on Savings | $121,102 |
| Dividends & Interest | $324,433 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,633,602 |
| Capital Gain Net Income | $27,574 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $217,237 |
| Total Revenue | $2,466,374 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $80,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $11,912 |
| Interest | $0 |
| Taxes | $15,307 |
| Depreciation | $35,900 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $222,435 |
| Total operating and administrative expenses | $388,742 |
| Contributions, gifts, grants paid | $1,880,244 |
| Total expenses and disbursements | $2,268,986 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,566,501 |
| 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 | $4,852 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $4,090,665 |
| Other assets | $392,812 |
| Total assets | $24,614,695 |
| 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, Glass Family Foundation Inc has awarded $1,880,244 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SEE ATTACHED PURPOSE: CHARITABLE | $1,533,782 |
FRANKLIN SCHOOL OF INNOVATION PURPOSE: CHARITABLE | $346,462 |