Patterson Family Foundation Inc
- Assets
- $1.0m
- Revenue
- $57.6k
- Investments
- $802.8k
- Employees
- 0
- Location
- Tupelo, MS
- Founding
- 09/2019
- Data as of
- 12/2022
- EIN
- 84-2451367
Organization Overview
Patterson Family Foundation Inc is located in Tupelo, MS. The organization was established in 2019. 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. Patterson Family 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, Patterson Family Foundation Inc generated $57.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (34.7%) each year. All expenses for the organization totaled $72.4k during the year ending 12/2022. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS ORGANIZED EXCLUSIVELY FOR EDUCATIONAL, CHARITABLE, AND RELIGIOUS PURPOSES TO PROVIDE FUNDING AND SUPPORT FOR QUALIFYING ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lauren Patterson Director | 2 | $0 | |
Samantha Fikes Director | 4 | $0 | |
Hardin Patterson Director | 2 | $0 | |
Craig Fikes Director | 1 | $0 | |
Taylor Fikes Director | 0.5 | $0 | |
Garmon Fikes Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $50,000 |
| Interest on Savings | $2,537 |
| Dividends & Interest | $19,202 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$14,243 |
| Capital Gain Net Income | $190 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $129 |
| Total Revenue | $57,625 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,004 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $16,116 |
| Contributions, gifts, grants paid | $56,250 |
| Total expenses and disbursements | $72,366 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $205,027 |
| 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 | $1,007,784 |
| 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, Patterson Family Foundation Inc has awarded $56,250 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
GLOBAL OUTREACH PURPOSE: MISSIONARY | $20,000 |
PARKGATE PREGNANCY CLINIC PURPOSE: COUNSELING | $13,750 |
NEW BEGINNINGS PURPOSE: ADOPTION SERVICES | $10,000 |
YOU TURN MINISTRIES PURPOSE: SUPPORT SERVICES | $10,000 |
BLUE MOUNTAIN COLLEGE PURPOSE: SECONDARY EDUCATION | $2,500 |