Carter Family Foundation
- Assets
- $208.5k
- Revenue
- $29.2k
- Investments
- $158.5k
- Employees
- 0
- Location
- Garfield, AR
- Founding
- 06/2019
- Data as of
- 12/2023
- EIN
- 84-1846685
Organization Overview
Carter Family Foundation is located in Garfield, AR. The organization was established in 2019. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Carter Family 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 12/2023, Carter Family Foundation generated $29.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (35.0%) each year. All expenses for the organization totaled $32.0k during the year ending 12/2023. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING FINANCIAL ASSISTANCE TO HILLSDALE COLLEGE A21 USA INC MERCURY ONE MAX IMPACT FUND
PROVIDING FINANCIAL ASSISTANCE TO RESCUE 1 GLOBAL OPERATION UNDERGROUND RAILROAD MERCURY ONE-THE NAZARENE FUND
PROVIDING FINANCIAL ASSISTANCE TO PREBORN CROSS CHURCH
PROVIDING FINANCIAL ASSISTANCE TO COMPASSION INTERNATIONAL THE SEED COMPANY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duane Carter Chairman-Ceo | 1 | $0 | |
Lynn Carter Secretary-Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,000 |
| Interest on Savings | $193 |
| Dividends & Interest | $4,133 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $19,806 |
| Capital Gain Net Income | $19,806 |
| Net ST Capital Gain | $6,020 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $31 |
| Total Revenue | $29,163 |
| 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 | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,514 |
| Total operating and administrative expenses | $2,014 |
| Contributions, gifts, grants paid | $30,000 |
| Total expenses and disbursements | $32,014 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $50,059 |
| 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 | $208,528 |
| 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, Carter Family Foundation has awarded $30,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
HILLSDALE COLLEGE PURPOSE: TO FURTHER ITS EXEMPT PURPOSES | $2,000 |
MERCURY ONE INC-MAXIMUM IMPACT FUND PURPOSE: TO FURTHER ITS EXEMPT PURPOSES | $2,000 |
CROSS CHURCH PURPOSE: TO FURTHER ITS EXEMPT PURPOSES | $3,000 |
OPERATION UNDERGROUND RAILROAD PURPOSE: TO FURTHER ITS EXEMPT PURPOSES | $5,000 |
THE SEED COMPANY PURPOSE: TO FURTHER ITS EXEMPT PURPOSES | $2,000 |
RESCUE 1 GLOBAL PURPOSE: TO FURTHER ITS EXEMPT PURPOSES | $4,000 |