James G Hanes Memorial Fund
- Assets
- $0.0
- Revenue
- $3.7m
- Investments
- $19.0m
- Employees
- 0
- Location
- Winston Salem, NC
- Founding
- 02/1964
- Data as of
- 10/2021
- EIN
- 56-6036987
Organization Overview
James G Hanes Memorial Fund is located in Winston Salem, NC. The organization was established in 1964. 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. James G Hanes Memorial Fund 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 10/2021, James G Hanes Memorial Fund generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 17.6% each year . All expenses for the organization totaled $1.9m during the year ending 10/2021. While expenses have increased by 5.0% per year over the past 3 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 2020, James G Hanes Memorial Fund has awarded 50 individual grants totaling $6,058,014. 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 |
|---|---|---|---|
Eldridge C Hanes Director | 2 | $0 | |
James G Hanes III Director | 2 | $0 | |
Drewry Nostitz-Rieneck Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $267 |
| Dividends & Interest | $485,784 |
| Profit on Inventory Sales | $0 |
| Other Income | $62,141 |
| Total Revenue | $3,670,604 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Pension plans, employee benefits | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $323,465 |
| Contributions, gifts, grants paid | $1,561,992 |
| Total expenses and disbursements | $1,885,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,051,048 |
| Other assets | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
Grants Awarded
Over the last fiscal year, James G Hanes Memorial Fund has awarded $1,626,014 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
NC BUSINESS LEADERS FOR EDUCATION PURPOSE: IMPROVE THE EXPERIENCE AND EFFECTIVENESS OF TEACHING WORKFORCE | $75,000 |
EXPERIMENT IN SELF RELIANCE PURPOSE: INCREASE INDIVIDUALS BEING SERVED IN MARGINALIZED COMMUNITIES | $75,000 |
CROSSNORE COMMUNITIES FOR CHILDREN PURPOSE: PROGRAM SERVICES SUPPORT | $166,022 |
MUSE WINSTON SALEM PURPOSE: SUPPORT COSTS RELATED TO EXHIBIT PLANNING AND DESIGN | $250,000 |
PIEDMONT ENVIRONMENTAL ALLIANCE PURPOSE: PROGRAM SERVICES SUPPORT | $15,000 |
WAKE FOREST UNIVERSITY TEACH PURPOSE: ASSIST PROGRAM DEVELOPMENT | $95,000 |