Doug & Sally Bailey Foundation Tr
- Assets
- $1.1m
- Revenue
- $181.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Clearwater, FL
- Founding
- Data as of
- 11/2021
- EIN
- 82-6805949
Organization Overview
Doug & Sally Bailey Foundation Tr is located in Clearwater, FL. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Doug & Sally Bailey Foundation Tr 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 11/2021, Doug & Sally Bailey Foundation Tr generated $181.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (48.4%) each year. All expenses for the organization totaled $205.2k during the year ending 11/2021. 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'S PRIMARY PURPOSE IS TO RELIEVE POVERTY AND HUMAN DISTRESS THROUGH PROVIDING NEEDY INDIVIDUALS WITH SCHOLARSHIPS TO OBTAIN EDUCATION IN THE MEDICAL FIELD AND TO TAKE TAKE MUSIC LESSONS. THE SCHOLARSHIPS PROVIDED FOR EDUCATION IN A MEDICAL RELATED CAREER WILL BE GRANTED WITH THE INTENTION THAT THE RECIPIENT OBTAIN A COLLEGE DEGREE AND WORK IN THE MEDICAL FIELD. THE RECIPIENTS THAT OBTAIN SUCH A DEGREE WOULD THEN HAVE THE SKILLS AND KNOWLEDGE NECESSARY SO THAT THEY WILL BECOME FINANCIALLY INDEPENDENT AND SELF-SUFFICIENT ON A GOING FORWARD BASIS. THE INDIVIDUALS RECEIVING THESE SCHOLARSHIPS WILL BE ENCOURAGED TO PROVIDE SERVICES AT NOT-FOR-PROFIT HOSPITALS, CLINICS, AND OTHER ENTITIES OWNED AND OPERATED BY NOT-FOR-PROFIT HOSPITALS AND OTHER ENTITIES DURING THEIR EDUCATIONAL YEARS AND THEREAFTER. THE FOUNDATION WILL ALSO PROVIDE GRANTS FOR MUSIC LESSONS. THESE GRANTS WILL PROMOTE THE ARTS AND WILL ENCOURAGE STUDENTS TO FIND AND DEVELOP THEIR MUSICAL TALENT. THE STUDENTS RECE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
L Douglas Bailey Co-Trustee | 0 | $0 | |
Jennifer N Miley Co-Trustee | 0 | $0 | |
Sally L Bailey Co-Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $24,071 |
| Interest on Savings | $4 |
| Dividends & Interest | $0 |
| Net Rental Income | $87,628 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $181,874 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $45,586 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $22,660 |
| Total operating and administrative expenses | $70,171 |
| Contributions, gifts, grants paid | $135,000 |
| Total expenses and disbursements | $205,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,230 |
| Savings and temporary cash investments | $0 |
| 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 | $1,425 |
| Net Investments - land, buildings, equipment | $1,065,303 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,089,958 |
| 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, Doug & Sally Bailey Foundation Tr has awarded $135,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Clearwater, FL PURPOSE: FOR SCHOLARSHIP PROGRAM | $100,000 |
RUTH ECKERD HALL FOUNDATION PURPOSE: FOR SCHOLARSHIP PROGRAM | $35,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Rawlings Foundation Inc Palm Beach, FL | $157,491,316 | $53,710,829 |
Ichauway Inc Newton, GA | $38,010,143 | $29,470,336 |
Elevate Prize Foundation Inc Miami, FL | $25,599,159 | $21,836,715 |
Desai Sethi Foundation Inc miami, FL | $167,397,052 | $1,318,684 |
Mceachern Endowment Fund Inc Powder Springs, GA | $13,981,287 | $6,848,994 |
Malone Family Land Preservation Foundation Hobe Sound, FL | $131,481,954 | $946,463 |
Pebble Hill Foundation Inc Thomasville, GA | $45,568,261 | $2,596,354 |
Worthington Scholarship Foundation Naples, FL | $12,065,797 | $5,368,981 |
The Switzer Family Foundation Inc St Petersburg, FL | $0 | $574,920 |
Bangladesh American Society Of Muslim Aid For Humanity Inc Boca Raton, FL | $701,948 | $2,077,483 |
Elling O Eide Charitable Foundation Inc Sarasota, FL | $66,382,103 | $1,556,208 |
Paul Millsap Foundation Corp Atlanta, GA | $74,268 | $1,325,506 |