Nazareth Foundation Inc
- Assets
- $7.2m
- Revenue
- $191.9k
- Investments
- $7.0m
- Employees
- 0
- Location
- Cookeville, TN
- Founding
- 05/2017
- Data as of
- 12/2022
- EIN
- 81-1135220
Organization Overview
Nazareth Foundation Inc is located in Cookeville, TN. The organization was established in 2017. 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. Nazareth 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 12/2022, Nazareth Foundation Inc generated $191.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (21.2%) each year. All expenses for the organization totaled $450.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Nazareth Foundation Inc has awarded 37 individual grants totaling $833,500. 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
THE FOUNDATION'S PRINCIPAL ACTIVITY IS DETERMINING WHAT CHARITABLE ENTITIES WILL BE THE RECIPIENTS OF THE FOUNDATION'S GIFTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Barsumian President/director | 0 | $0 | |
Arlene Barsumian Vice President/secretary/t | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $172,892 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $18,981 |
| Capital Gain Net Income | $18,981 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $191,873 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,593 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $40,662 |
| Total operating and administrative expenses | $50,255 |
| Contributions, gifts, grants paid | $400,000 |
| Total expenses and disbursements | $450,255 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,962 |
| Savings and temporary cash investments | $129,238 |
| 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 | $7,032,367 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,232,567 |
| 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, Nazareth Foundation Inc has awarded $400,000 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
ADULT & TEEN CHALLENGE PURPOSE: TO ASSIST THOSE WITH ADDICTIONS | $5,000 |
AMERICAN BIBLE SOCIETY PURPOSE: TO SPREAD THE GOSPEL | $10,000 |
COLLEGESIDE CHURCH OF CHRIST PURPOSE: FOR FELLOWSHIPS | $200,000 |
COOKEVILLE RESCUE MISSION PURPOSE: TO ASSIST HOMELESS | $5,000 |
DOCTORS WITHOUT BORDERS PURPOSE: PROVIDE MEDICAL CARE | $10,000 |
HABITAT FOR HUMANITY PURPOSE: ASSIST THOSE IN NEED | $10,000 |