Overview
What is Hollingsworth Funds Inc?
Hollingsworth Funds Inc is a Greenville, South Carolina-based supporting organization with approximately 8 employees. They are dedicated to distributing their annual grants to a mix of charities, with around 45% allocated to Furman University and 10% to the Greenville YMCA. The remaining funds are directed towards public charities that operate or conduct affairs for the betterment of Greenville County. This includes making a cash grant of $4,902,981 to Furman University for the Hollingsworth Scholars Program and various departmental expenses, as well as a $1,169,205 donation to the Greenville YMCA to support its activities. The remaining funds of $4,769,324 are dispersed among various tax-exempt charitable organizations in Greenville County to address their unfunded needs.
Official website here: www.hollingsworthfunds.org
What are the reviews and ratings of this charity?
Hollingsworth Funds Inc is not currently rated by Charity Navigator. This absence of a rating is due to insufficient electronically-filed IRS Form 990 data, rather than an evaluation of the entity's performance. With two years of available Form 990 data, it lacks the three consecutive years required for Charity Navigator to carry out comprehensive assessments of Accountability & Finance or Impact & Measurement.
The nonprofit is identified as an independent organization operated solely for the benefit of related organizations. The financial data, as derived from the IRS Form 990, provides insight into trends over past years. However, without Charity Navigator's specific scoring, it's challenging to assess its overall transparency and efficiency comprehensively.
There are no user reviews available from GreatNonprofits, leaving public feedback and anecdotal insights into the organization's impact and client satisfaction undisclosed. This limits community understanding of its qualitative performance aspects.
This AI summary has been generated from information found on Charity Navigator.
Is Hollingsworth Funds Inc legitimate?
Hollingsworth Funds Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hollingsworth Funds Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $512,927
Professional Fundraising Fees: $0
Other Salaries and Wages: $387,197
For more financial information, click here
Official website here: www.hollingsworthfunds.org
What is the mission statement of Hollingsworth Funds Inc?
Hollingsworth Funds Inc is a grant-making organization that distributes a significant portion of its annual contributions to Furman University and the Greenville YMCA. The remaining funds are granted to various public charities operating for the benefit of Greenville County. The organization's distributions support a range of initiatives, such as the Hollingsworth Scholars Program at Furman University and the activities of the Greenville YMCA. Hollingsworth Funds Inc aims to address unmet needs within the community by providing financial assistance to tax-exempt charitable organizations. Through its grants, the organization contributes to enhancing the quality of life for individuals in Greenville County.
Official website here: www.hollingsworthfunds.org
Who is the CEO of Hollingsworth Funds Inc?
B Gage Weekes is the President of Hollingsworth Funds Inc.
Official website here: www.hollingsworthfunds.org
What is the revenue of Hollingsworth Funds Inc?
Hollingsworth Funds Inc's revenue in 2022 was $12,829,828.
Official website here: www.hollingsworthfunds.org
Who are the executives of Hollingsworth Funds Inc and what are their salaries?
The average compensation at Hollingsworth Funds Inc during 2022 was $112,516. There are 8 employees at Hollingsworth Funds Inc.
Here are 15 key members and their salaries:
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $133,547
- Other: $1,580
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $5,000
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $2,500
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $1,250
- Related: $1,250
- Other: $0
- Compensation: $1,250
- Related: $0
- Other: $0
- Compensation: $361,427
- Related: $0
- Other: $73,598
- Compensation: $158,000
- Related: $0
- Other: $26,975
- Compensation: $165,000
- Related: $0
- Other: $43,339
Official website here: www.hollingsworthfunds.org
Where can I find the form 990 for Hollingsworth Funds Inc?
Hollingsworth Funds Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hollingsworthfunds.org
Learn more at the official website: www.hollingsworthfunds.org
Mission Statement of Hollingsworth Funds Inc
Hollingsworth Funds, a supporting organization, allocates the majority of its annual distributions to Furman University and the Greenville YMCA, with the remaining funds granted to public charities that serve the needs of Greenville County. The mission of Hollingsworth Funds is multifaceted. It primarily focuses on providing substantial financial support to these two notable institutions.
Furman University, a significant beneficiary, receives approximately 45% of Hollingsworth Funds' annual distributions. These funds are employed in various ways, including the Hollingsworth Scholars Program and covering diverse expenses within the Department of Business and Economics. The financial assistance from Hollingsworth Funds empowers Furman University to continue its educational mission and make a positive impact within the academic community.
The Greenville YMCA, receiving around 10% of the organization's annual distributions, utilizes the funds to support its essential activities. The YMCA, a staple in the community, serves a vital role in promoting healthy living and social interaction for individuals of all ages and backgrounds. By contributing to the YMCA's operational budget, Hollingsworth Funds enables the organization to maintain its commitment to strengthening local communities.
In addition to these two beneficiaries, the remaining funds, amounting to over four million dollars, are distributed to other tax-exempt charitable organizations. These charities focus on meeting the diverse needs of Greenville County, ensuring that the community thrives and its most vulnerable populations are supported. Through its strategic financial contributions, Hollingsworth Funds plays a crucial role in enhancing the lives of countless individuals and fostering a strong, interconnected community.
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Impact
October, 2024
Hollingsworth Funds Inc plays a significant role in enhancing the quality of life in Greenville County through strategic financial support. By allocating approximately 45% of its annual distributions to Furman University and 10% to the Greenville YMCA, the organization directly influences educational and community development.
In the case of Furman University, a substantial cash grant of $4,902,981 supports the Hollingsworth Scholars Program, which likely helps cultivate future leaders and enriches the educational experience in the Department of Business and Economics. This investment not only benefits the university but also contributes to the intellectual capital of the region.
The support of $1,169,205 to the YMCA of Greenville County enables the organization to conduct various community programs promoting health, youth development, and social responsibility. This funding strengthens community ties and improves overall well-being for residents.
Moreover, the remaining distribution of $4,769,324 to various tax-exempt charitable organizations addresses various unmet needs in the community. By focusing on local charities, Hollingsworth Funds ensures that its contributions have a direct and meaningful impact, fostering a sense of community and encouraging collaboration among different organizations.
Overall, Hollingsworth Funds Inc significantly contributes to education, health, and community welfare in Greenville County, highlighting its commitment to philanthropy and the betterment of society.
This information is meant to be a general summary of Hollingsworth Funds Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $9,744,299
- Gross Receipts: $47,718,888
Assets and Liabilities:
- Total Assets: $375,756,696
- Total Liabilities: $934,476
- Net Assets: $374,822,220
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Organization Details
Founding Year
1977
Phone
(864) 627-8306Principal Officer
B Gage Weekes
Main Address
124 VERDAE BLVD 502, GREENVILLE, SC, 29607
Website
www.hollingsworthfunds.orgNTEE Category
Code: T11 - Philanthropy
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