Dr Michael F And Sophia M Yarborough Foundation Inc
- Assets
- $740.4k
- Revenue
- $99.5k
- Investments
- $730.5k
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 10/2007
- Data as of
- 12/2022
- EIN
- 83-0491533
Organization Overview
Dr Michael F And Sophia M Yarborough Foundation Inc is located in Raleigh, NC. The organization was established in 2007. 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. Dr Michael F And Sophia M Yarborough 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, Dr Michael F And Sophia M Yarborough Foundation Inc generated $99.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $120.6k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Dr Michael F And Sophia M Yarborough Foundation Inc has awarded 51 individual grants totaling $783,390. 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 |
|---|---|---|---|
Dr Michael F Yarborough Chairman/president | 2 | $0 | |
Sophia M Yarborough Vice President/secy/treasu | 2 | $0 | |
Ben M Yarborough Board Member | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $34 |
| Dividends & Interest | $22,448 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $76,574 |
| Capital Gain Net Income | $76,574 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $447 |
| Total Revenue | $99,503 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,730 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $17,100 |
| Contributions, gifts, grants paid | $103,500 |
| Total expenses and disbursements | $120,600 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,939 |
| 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 | $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 | $740,425 |
| 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, Dr Michael F And Sophia M Yarborough Foundation Inc has awarded $103,500 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY MUSIC SCHOOL PURPOSE: FINANCIAL SUPPORT | $1,000 |
DAVIDSON COLLEGE PURPOSE: FINANCIAL SUPPORT | $10,000 |
FIRST PRESBYTERIAN CHURCH PURPOSE: CONTINUED FINANCIAL SUPPORT | $10,000 |
FOOD BANK OF EASTERN NC PURPOSE: FINANCIAL SUPPORT | $2,500 |
MAYO CLINIC FOUNDATION PURPOSE: CONTINUED FINANCIAL SUPPORT | $50,000 |
THE HILL CENTER PURPOSE: CONTINUED FINANCIAL SUPPORT | $20,000 |