Eudora Welty Foundation Inc
- Assets
- $1.8m
- Revenue
- $617.6k
- Investments
- $1.0m
- Employees
- 0
- Location
- Jackson, MS
- Founding
- 10/1999
- Data as of
- 12/2021
- EIN
- 64-0909832
Organization Overview
Eudora Welty Foundation Inc is located in Jackson, MS. The organization was established in 1999. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eudora Welty Foundation 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 12/2021, Eudora Welty Foundation Inc generated $617.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.3% each year . All expenses for the organization totaled $263.8k during the year ending 12/2021. While expenses have increased by 12.4% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION WAS CREATED TO ASSIST THE MISSISSIPPI DEPT. OF ARCHIVES AND HISTORY WITH THE PRESERVATION AND MAINTENANCE OF THE EUDORA WELTY HOUSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION ACHIEVES ITS PURPOSE BY SOLICITING AND EXPENDING FUNDS TO HONOR EUDORA WELTY, HER LIFE AND HER WORKS AND TO MEMORIALIZE HER PARENTS AND HER FAMILY. THE FOUNDATION WORKS TO PRESERVE, MAINTAIN, INTERPRET AND TO ASSIST IN THE OPERATION OF THE WELTY HOME IN JACKSON, MISSISSIPPI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Holmes S Adams Chairman | OfficerTrustee | 2 | $0 |
Mary Alice Welty White Secretary | OfficerTrustee | 2 | $0 |
John Hooks Vice Chairman | OfficerTrustee | 2 | $0 |
Donna Bruce Treasurer | OfficerTrustee | 2 | $0 |
Dolly Creekmore Goings Director | Trustee | 2 | $0 |
Jean Nicholson Medley Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $544,829 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $544,829 |
| Total Program Service Revenue | $0 |
| Investment income | $72,744 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $617,573 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $37,701 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,800 |
| Total functional expenses | $263,834 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $424,236 |
| Savings and temporary cash investments | $364,368 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,814 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,047,167 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,845,585 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $453,077 |
| Net assets with donor restrictions | $1,392,508 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,845,585 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Eudora Welty Foundation Inc has recieved totaling $275,655.
| Awarding Organization | Amount |
|---|---|
Luckyday Foundation Jackson, MS PURPOSE: PROVIDE FUNDS FOR EDUCATIONAL AND RESEARCH ACTIVITIES TO ENCOURAGE READING AND THE EFFORTS OF YOUNG WRITERS. | $250,000 |
Selby And Richard Mcrae Foundation Jackson, MS PURPOSE: PRESERVATION OF EUDORA WELTY PROPERTY | $25,000 |
The T H Etheridge Trust Jackson, MS PURPOSE: GENERAL OPERATIONS OF THE ORGANIZATION | $500 |
Kathryn & Julian Wiener Fund Montgomery, AL PURPOSE: GENERAL FUND | $150 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $754,568 |
| Earnings | $160,823 |
| Net Contributions | $149,410 |
| Ending Balance | $1,064,801 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arkansas Museum Of Fine Arts Foundation Little Rock, AR | $93,043,643 | $19,970,442 |
World War Ii Theatre Inc New Orleans, LA | $71,080,444 | $7,985,731 |
Foundation For Excellence In Louisiana Public Broadcasting Baton Rouge, LA | $50,029,430 | $8,763,063 |
Alabama Educational Television Foundation Authority Birmingham, AL | $11,749,441 | $5,899,982 |
Memphis Brooks Museum Of Art Inc Memphis, TN | $44,232,792 | $7,821,496 |
Bellingrath Gardens And Home Foundation Inc Theodore, AL | $4,998,208 | $3,680,917 |
Centennial Park Conservancy Nashville, TN | $5,267,235 | $2,768,009 |
Frist Art Museum Foundation Nashville, TN | $70,216,759 | $5,732,814 |
Birmingham Negro Southern League Museum Foundation Birmingham, AL | $525,950 | $1,055,962 |
Mpb Foundation Jackson, MS | $2,987,587 | $1,895,017 |
Dixon Gallery & Gardens Memphis, TN | $38,922,507 | $2,396,670 |
Charles H Coolidge Medal Of Honor Heritage Center Chattanooga, TN | $4,912,391 | $1,373,685 |