Schug Foundation
- Assets
- $335.5k
- Revenue
- $11.6k
- Investments
- $259.8k
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 09/2001
- Data as of
- 12/2023
- EIN
- 56-6583795
Organization Overview
Schug Foundation is located in Charlotte, 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. Schug 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 12/2023, Schug Foundation generated $11.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (16.6%) each year. All expenses for the organization totaled $205.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Schug Foundation has awarded 340 individual grants totaling $879,690. 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 |
|---|---|---|---|
John B Schug Trustee | 2 | $0 | |
Peggy C Schug Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $11,619 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $54,849 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $11,619 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $56 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $93 |
| Total operating and administrative expenses | $13,536 |
| Contributions, gifts, grants paid | $192,111 |
| Total expenses and disbursements | $205,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,015 |
| Savings and temporary cash investments | $74,694 |
| 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 | $335,503 |
| 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, Schug Foundation has awarded $192,111 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
ALEXIA ROMERO PURPOSE: WESTERN CAROLINAUNIVERSITYTUITION | $1,500 |
AMAYA MICKLES PURPOSE: NC STATE UNIVERSITYTUITION | $1,500 |
ASHLEIGH SHUFORD PURPOSE: UNC GREENSBOROTUITION | $3,000 |
CLAYISHA NORRIS PURPOSE: FAYETTEVILLE STATE UNIVERSITYTUITION | $1,500 |
GRACE FEICHTER PURPOSE: NC STATE UNIVERSITYTUITION | $1,500 |
JORDYN NEWELL PURPOSE: EAST TN STATE UNIV.TUITION | $1,500 |