Womack Family Charitable Foundation
- Assets
- $2.2m
- Revenue
- $1.4m
- Investments
- $2.2m
- Employees
- 0
- Location
- Burlington, NC
- Founding
- 02/2018
- Data as of
- 12/2021
- EIN
- 82-3743319
Organization Overview
Womack Family Charitable Foundation is located in Burlington, NC. The organization was established in 2018. 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. Womack Family Charitable 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 12/2021, Womack Family Charitable Foundation generated $1.4m in total revenue. All expenses for the organization totaled $63.7k during the year ending 12/2021. While expenses have increased by 81.6% per year over the past 4 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WAS INCORPORATED AS A NORTH CAROLINA NONPROFIT CORPORATION ON DECEMBER 18, 2017. IT WAS ORGANIZED AND SHALL BE OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, SCIENTIFIC, AND LITERARY PURPOSES, INCLUDING, FOR SUCH PURPOSES, THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PRIMARY PURPOSE OF THE FOUNDATION SHALL BE TO MAKE MONETARY GRANTS TO A VARIETY OF CHARITABLE ORGANIZATIONS CHOSEN BY THE FOUNDATION'S BOARD OF DIRECTORS BASED UPON THEIR DETERMINATION OF THE ORGANIZATIONS' NEEDS AFTER RESEARCH, INVESTIGATION, CONSULTATION, AND REVIEW.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra B Womack Secretary, Director | 10 | $0 | |
Ray T Womack President, Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,010,388 |
| Interest on Savings | $9 |
| Dividends & Interest | $26,352 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $346,522 |
| Capital Gain Net Income | $346,522 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,383,271 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $80 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,333 |
| Total operating and administrative expenses | $8,663 |
| Contributions, gifts, grants paid | $55,000 |
| Total expenses and disbursements | $63,663 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $131 |
| Savings and temporary cash investments | $22,517 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,249,458 |
| 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, Womack Family Charitable Foundation has awarded $55,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
RESIDENTIAL TREATMENT SERVICES OF ALAMANCE INC PURPOSE: PROGRAM SERVICES | $12,500 |
SPARKLE CAT RESCUE INC PURPOSE: PROGRAM SERVICES | $12,500 |
Graham, NC PURPOSE: PROGRAM SERVICES | $10,000 |
ALAMANCE COUNTY SERVICE LEAGUE PURPOSE: PROGRAM SERVICES | $10,000 |
SOUTHERN ALAMANCE FAMILY EMPOWERMENT FOOD PANTRY PURPOSE: PROGRAM SERVICES | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robins Foundation Richmond, VA | $182,936,779 | $19,761,890 |
Virginia Institute Of Autism Incorporated Charlottesville, VA | $13,400,970 | $11,731,710 |
Joe C Davis Foundation Nashville, TN | $101,782,891 | $6,182,733 |
Fraser-Parker Foundation Atlanta, GA | $226,420,772 | $14,099,479 |
Paces Foundation Inc Smyrna, GA | $85,397,872 | $9,603,919 |
Gambrell Foundation Charlotte, NC | $0 | $18,901,501 |
The Ma-Ran Foundation Atlanta, GA | $81,838,064 | $4,938,726 |
Day Foundation Memphis, TN | $0 | $13,711,953 |
Clayton Family Foundation Knoxville, TN | $90,913,195 | $17,391,150 |
Affordable Housing Opportunity Fund Inc Charlottesville, VA | $703,537 | $6,974,715 |
G Harbaugh Foundation Franklin, TN | $61,708,468 | $12,393,056 |
Robert H Smith Family Foundation Arlington, VA | $10,315,724 | -$3,599,936 |