Victoria Garrett Legacy Foundation Agency Main
- Assets
- $19.5m
- Revenue
- $1.6m
- Investments
- $17.7m
- Employees
- 0
- Location
- Asheville, NC
- Founding
- 08/2019
- Data as of
- 12/2021
- EIN
- 83-2574391
Organization Overview
Victoria Garrett Legacy Foundation Agency Main is located in Asheville, NC. The organization was established in 2019. According to its NTEE Classification (T30) the organization is classified as: Public 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. Victoria Garrett Legacy Foundation Agency Main 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, Victoria Garrett Legacy Foundation Agency Main generated $1.6m 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 (53.8%) each year. All expenses for the organization totaled $575.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Victoria Garrett Legacy Foundation Agency Main has awarded 30 individual grants totaling $972,900. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDED FUNDS FOR GENERAL SUPPORT FOR 15 VARIOUS CHURCHES AND CHARITABLE ORGANIZATIONS. SEE PART XI FOR DETAILS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman Paul Kaneklides Director | 1 | $0 | |
Victoria Garrett Kaneklides Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $63,143 |
| Dividends & Interest | $384,088 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,187,551 |
| Capital Gain Net Income | $1,187,551 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,634,782 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $32,817 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $26,564 |
| Total operating and administrative expenses | $149,036 |
| Contributions, gifts, grants paid | $426,000 |
| Total expenses and disbursements | $575,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,811,356 |
| 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 | $4,511 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $3,471,657 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $19,525,004 |
| 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, Victoria Garrett Legacy Foundation Agency Main has awarded $426,000 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
BLACK MOUNTAIN HOME FOR CHILDREN PURPOSE: GENERAL PURPOSES | $300,000 |
Hickory, NC PURPOSE: GENERAL PURPOSES | $50,000 |
THE ROCK CHURCH PURPOSE: ENDEAVOR | $20,000 |
THE ROCK CHURCH PURPOSE: GENERAL PURPOSE | $20,000 |
Asheville, NC PURPOSE: GENERAL PURPOSE | $20,000 |
FORMATION LIFE MINISTRIES PURPOSE: GENERAL PURPOSES | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ninth District Opportunity Inc Gainesville, GA | $20,597,568 | $53,356,026 |
Nema Foundation Inc Tallulah Falls, GA | $40,863,488 | $61,480,995 |
Gary Sinise Foundation Nashville, TN | $79,715,180 | $58,070,139 |
Jefferson Scholars Foundation Charlottesville, VA | $761,742,846 | $36,629,374 |
The Pauley Family Foundation Richmond, VA | $2,022,061,315 | $1,899,350,410 |
College Foundation Of The University Of Virginia Charlottesville, VA | $252,362,262 | $51,045,128 |
Philanthropic Impact Foundation Nashville, TN | $919,847 | $18,241,201 |
Aston Park Health Care Center Inc Asheville, NC | $17,105,214 | $12,530,764 |
New Morning Foundation Columbia, SC | $9,598,750 | $10,587,010 |
James Family Charitable Foundation Charlottesville, VA | $171,150,056 | $16,638,935 |
Silver Valley Research Foundation Mclean, VA | $1,699,232 | $12,100,000 |
York Foundation Herndon, VA | $79,294,285 | $7,194,037 |