Hollingsworth Funds Inc

Organization Overview

Hollingsworth Funds Inc is located in Greenville, SC. The organization was established in 1994. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Hollingsworth Funds Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hollingsworth Funds 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 12/2020, Hollingsworth Funds Inc generated $12.4m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $14.9m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.

Since 2020, Hollingsworth Funds Inc has awarded 98 individual grants totaling $19,230,107. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

HOLLINGSWORTH FUNDS IS A SUPPORTING ORGANIZATION TO WHICH APPROXIMATELY 45% OF THE ANNUAL DISTRIBUTIONS ARE AWARDED TO FURMAN UNIVERSITY, APPROXIMATELY 10% TO THE GREENVILLE YMCA, AND THE REMAINDER TO PUBLIC CHARITIES THAT OPERATE OR CONDUCT AFFAIRS FOR THE BENEFIT OF GREENVILLE COUNTY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

A CASH GRANT OF 4,495,645 WAS MADE TO FURMAN UNIVERSITY AND WAS DESIGNATED TO BE USED FOR THE HOLLINGSWORTH SCHOLARS PROGRAM AND TO BE USED FOR VARIOUS EXPENSES OF THE DEPARTMENT OF BUSINESS AND ECONOMICS.A CASH GRANT OF 1,072,069 WAS MADE TO THE YMCA OF GREENVILLE COUNTY TO BE USED TO SUPPORT THE ACTIVITIES OF THE ORGANIZATION. THE REMAINING FUNDS OF 4,373,093 WERE DISTRIBUTED TO DIFFERENT TAX-EXEMPT CHARITABLE ORGANIZATIONS TO MEET VARIOUS UNFUNDED NEEDS IN GREENVILLE COUNTY.


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Board, Officers & Key Employees

Name (title)Compensation
B Gage Weekes
President
$328,570
W Kenneth Hunt III
Chief Financial Officer
$281,484
Tamela Spann
VP Of Strategic Initiative
$140,625
Pamela Prashad
VP Of Finance & Operations
$120,978
Sam Erwin
Secretary
$5,000
Anthony Mcdade
Vice Chairman
$5,000

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Hr&a Advisors Inc
Property Advisory
$523,065
Blue Wall Real Estate
Real Estate Advisory
$180,000
Coldwell Caine Commercial
Property Mang & Commissions
$135,190
Alex Brownraymond James
Investment Advisory
$119,088
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$0
Investment income $3,703,549
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $2,358,260
Net Gain/Loss on Asset Sales $6,082,419
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $12,387,637

Grants Awarded

Over the last fiscal year, Hollingsworth Funds Inc has awarded $9,940,807 in support to 49 organizations.

Grant RecipientAmount

FURMAN UNIVERSITY

Org PageRecipient Profile

Greenville, SC

PURPOSE: GENERAL OPERATING SUPPORT

$4,495,645

YMCA OF GREENVILLE

Org PageRecipient Profile

Greenville, SC

PURPOSE: GENERAL OPERATING SUPPORT

$1,072,069

UNITED WAY OF GREENVILLE COUNTY

Org PageRecipient Profile

Greenville, SC

PURPOSE: GENERAL OPERATING SUPPORT FOR ONTRACK

$500,000

COMMUNITY FOUNDATION OF GREENVILLE

Org PageRecipient Profile

Greenville, SC

PURPOSE: PROJECT SUPPORT FOR GREENVILLE CONNECTS, GPP, NPA, GHA, STL, AND ABUNDANCE CAPITAL

$270,000

GREENVILLE HOUSING FUND

Org PageRecipient Profile

Greenville, SC

PURPOSE: GENERAL OPERATING SUPPORT

$250,000

COMMUNITY FOUNDATION OF GREENVILLE

Org PageRecipient Profile

Greenville, SC

PURPOSE: PROJECT SUPPORT FOR PHASE ONE OF SUNSET PLAN

$229,593
View Grant Profile

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