Salt Water Fund
- Assets
- $11.3m
- Revenue
- -$259.8k
- Investments
- $11.2m
- Employees
- 0
- Location
- Winston Salem, NC
- Founding
- 05/2018
- Data as of
- 09/2023
- EIN
- 81-0698838
Organization Overview
Salt Water Fund is located in Winston Salem, NC. The organization was established in 2018. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Salt Water Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2018, Salt Water Fund has awarded 48 individual grants totaling $15,705,033. 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 |
|---|---|---|---|
James S Mahan III Chairman | 0 | $0 | |
Marguerite D Mahan Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $170,439 |
| Dividends & Interest | $211,745 |
| Net Rental Income | -$223,698 |
| Net Gain on Sale of Assets | -$646,861 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,868 |
| Total Revenue | -$259,809 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $15,967 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $60,063 |
| Total operating and administrative expenses | $81,530 |
| Contributions, gifts, grants paid | $4,385,404 |
| Total expenses and disbursements | $4,466,934 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5 |
| Savings and temporary cash investments | $77,008 |
| 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 | $7,665,023 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $11,294,611 |
| 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, Salt Water Fund has awarded $4,385,404 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
COLLECTIVE IMPACT IN NEW HANOVER COUNTY INC PURPOSE: GENERAL CONTRIBUTION | $200,000 |
GLOW NC PURPOSE: GENERAL CONTRIBUTION | $902,510 |
CROSSNORE COMMUNITIES FOR CHILDREN PURPOSE: GENERAL CONTRIBUTION | $230,000 |
JUVENILE DIABETES RESEARCH FOUNDATION PURPOSE: GENERAL CONTRIBUTION | $10,000 |
DOMINICAN REPUBLIC MISSION TEAM INC PURPOSE: GENERAL CONTRIBUTION | $2,000 |
YMCA OF THE TRIANGLE AREA INC PURPOSE: GENERAL CONTRIBUTION | $50,000 |