Provident Benevolent Foundation
- Assets
- $23.2m
- Revenue
- $2.0m
- Investments
- $21.4m
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 03/1990
- Data as of
- 06/2022
- EIN
- 58-1881092
Organization Overview
Provident Benevolent Foundation is located in Charlotte, NC. The organization was established in 1990. 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. Provident Benevolent 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 06/2022, Provident Benevolent Foundation generated $2.0m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $1.8m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $47,016 |
| Dividends & Interest | $404,851 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,496,548 |
| Capital Gain Net Income | $1,496,548 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $26,951 |
| Total Revenue | $1,975,366 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $78,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $3,749 |
| Taxes | $23,475 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $42,630 |
| Total operating and administrative expenses | $317,998 |
| Contributions, gifts, grants paid | $1,495,600 |
| Total expenses and disbursements | $1,813,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,212,971 |
| 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 | $2,952,942 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $580,255 |
| Total assets | $23,214,312 |
| 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, Provident Benevolent Foundation has awarded $225,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SCHEDULE ATTACHED PURPOSE: CHARITABLE CONTRIBUTION | $240,000 |
BEHAILU ACADEMY-CANCEL DONATION-PRI PURPOSE: CHARITABLE CONTRIBUTION | -$15,000 |