Ann L Turner & Geoffrey M Tennant Foundation Inc
- Assets
- $1.7m
- Revenue
- $31.5k
- Investments
- $1.6m
- Employees
- 0
- Location
- Tryon, NC
- Founding
- 06/2001
- Data as of
- 02/2023
- EIN
- 56-2242164
Organization Overview
Ann L Turner & Geoffrey M Tennant Foundation Inc is located in Tryon, NC. The organization was established in 2001. 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. Ann L Turner & Geoffrey M Tennant 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 02/2023, Ann L Turner & Geoffrey M Tennant Foundation Inc generated $31.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.5%) each year. All expenses for the organization totaled $85.6k during the year ending 02/2023. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Ann L Turner & Geoffrey M Tennant Foundation Inc has awarded 88 individual grants totaling $924,627. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDS GRANTS TO PUBLIC CHARITIES FOR THE EDUCATIONAL ENRICHMENT OF ELEMENTARY AGE PUBLIC SCHOOL STUDENTS AND FOR GENERAL PUBLIC ENRICHMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alice E Tennant Chair/pres | 0.25 | $0 | |
Joan Feagan Board Secret | 0.1 | $0 | |
William J Miller Board Member | 0.1 | $0 | |
Shannon Tennant Board Member | 0.1 | $0 | |
James F Hemphill Board Member | 0.1 | $0 | |
Dane Stafford Board Member | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,813 |
| Dividends & Interest | $27,300 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,348 |
| Capital Gain Net Income | $1,348 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $31,461 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,956 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,589 |
| Total operating and administrative expenses | $15,768 |
| Contributions, gifts, grants paid | $69,810 |
| Total expenses and disbursements | $85,578 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,307 |
| Savings and temporary cash investments | $56,154 |
| 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 | $1,691,089 |
| 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, Ann L Turner & Geoffrey M Tennant Foundation Inc has awarded $69,810 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF NC CHAPEL HILL PURPOSE: POLK COUNTY HS GRADUATES FOR STUDIES | $4,000 |
POLK COUNTY PUBLIC SCHOOLS PURPOSE: FUNDPOLK CTY PUBLIC SCHOOLS PROGRAMS | $26,000 |
NORTH CAROLINA STATE UNIVERSITY PURPOSE: AWARDED TO POLK COUNTY HS GRADS | $26,810 |
UNIVERTY OF TENNESSEE PURPOSE: AWARDED TO POLK CTY HS GRADS | $4,000 |
CHILDREN'S THEATER FESTIVAL PURPOSE: TO FUND CHILDREN'S THEATER | $5,000 |
UNIVERSITY OF NC WILMINGTON PURPOSE: AWARDED TO POLK CTY HS GRAD | $4,000 |