The Bill Gatton Foundation
- Assets
- $172.2m
- Revenue
- $23.4m
- Investments
- $160.8m
- Employees
- 0
- Location
- Bristol, TN
- Founding
- 07/1987
- Data as of
- 11/2022
- EIN
- 62-1266284
Organization Overview
The Bill Gatton Foundation is located in Bristol, TN. The organization was established in 1987. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bill Gatton 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 11/2022, Bill Gatton Foundation generated $23.4m in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $11.2m during the year ending 11/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Bill Gatton Foundation has awarded 30 individual grants totaling $24,573,850. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Winston Trustee | 3 | $0 | |
Danny L Dunn Trustee | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,619 |
| Dividends & Interest | $4,938,265 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $13,248,055 |
| Capital Gain Net Income | $12,734,027 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,253,300 |
| Total Revenue | $23,443,239 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $150,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $786,817 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $49,363 |
| Total operating and administrative expenses | $1,137,802 |
| Contributions, gifts, grants paid | $10,033,200 |
| Total expenses and disbursements | $11,171,002 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $972,197 |
| Savings and temporary cash investments | $742,309 |
| 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 | $12,300,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,783,931 |
| Net Land, buildings, and equipment | $0 |
| Other assets | -$2,613,424 |
| Total assets | $172,195,015 |
| 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, The Bill Gatton Foundation has awarded $10,033,200 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF KENTUCKY PURPOSE: TO SUPPORT SCHOLARSHIPS | $5,400,000 |
EMORY & HENRY COLLEGE PURPOSE: IN SUPPORT OF THE EQUESTRIAN PROGRAM | $2,000,000 |
BETHLEHEM BAPTIST CHURCH PURPOSE: TO SUPPORT A NEW BUILDING AND REPLACEMENT STATUE | $1,259,200 |
UNITED WAY OF BRISTOL ENDOWMENT PURPOSE: GENERAL SUPPORT | $1,000,000 |
LETCHER COUNTY PUBLIC SCHOOLS PURPOSE: TO SUPPORT REPLACEMENT BUILDING AND LIBRARY EQUIPMENT | $300,000 |
BRISTOL TN CITY SCHOOLS FOUNDATION PURPOSE: TO SUPPORT TEACHER GRANTS WITHIN SCHOOL SYSTEM | $50,000 |