Overview
What is Troup County Recreation Endowment?
The Troup County Recreation Endowment is a fund established with the purpose of supporting Troup County, Georgia in maintaining and improving its recreational facilities. This initiative is made possible through a pledge of 7 million dollars from Callaway Foundation, Inc., payable over a three-year period, contingent upon Troup County creating the Troup County Recreation Endowment fund to manage and distribute the funds. Annually, five percent of the fund balance is allocated to cover operating expenses for the construction of new recreational facilities within Troup County.
Is Troup County Recreation Endowment legitimate?
Troup County Recreation Endowment is a legitimate nonprofit organization registered as a 501(c)(3) entity. Troup County Recreation Endowment 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:
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What is the mission statement of Troup County Recreation Endowment?
The Troup County Recreation Endowment's mission is primarily focused on supporting and contributing to the expenses of proposed recreational additions and improvements in a related party. This related party, if appropriate measures are taken, will receive a pledge of 7 million dollars over a three-year period from Callaway Foundation, Inc. The endowment fund, once established, will manage these funds, with five percent of the balance made available annually to cover the operational expenditures of new recreational facilities that will be constructed. The endowment's primary role is to aid in the maintenance and development of recreational facilities.
Who is the CEO of Troup County Recreation Endowment?
Paul S Penn Iii is the Trustee of Troup County Recreation Endowment.
What is the revenue of Troup County Recreation Endowment?
Troup County Recreation Endowment's revenue in 2023 was $200,491.
Who are the executives of Troup County Recreation Endowment and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Troup County Recreation Endowment?
Troup County Recreation Endowment's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Troup County Recreation Endowment
Troup County Recreation Endowment, a fund dedicated to supporting a related party, Troup County, Georgia, has a mission to contribute to and assist in the maintenance of proposed recreational additions and improvements. The organization has received a pledge of 7 million dollars from Callaway Foundation, Inc., payable over a three-year period, under the condition that Troup County, Georgia, establishes the Troup County Recreation Endowment Fund to manage and hold the funds. Five percent of the fund balance is made available annually to Troup County, Georgia, to cover the operating expenses of new recreational facilities to be built. The Troup County Recreation Endowment serves as a crucial financial resource, enabling the development and upkeep of recreational facilities, thereby enhancing the overall recreational experience for the community.
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Impact
October, 2024
The Troup County Recreation Endowment significantly enhances recreational opportunities in Troup County, Georgia, by providing financial support for the development and maintenance of new facilities. With a pledge of $7 million from Callaway Foundation, Inc., the endowment is poised to transform the area's recreational landscape over the next three years.
By managing these funds, the endowment ensures that five percent of the total fund balance is allocated annually for the operational expenses of new recreational projects. This strategic financial management not only facilitates immediate improvements but also promotes sustainable growth in community recreation.
The infusion of these resources fosters a healthier, more active community by expanding access to recreational activities and facilities. As a result, Troup County can improve the quality of life for its residents, attract visitors, and enhance overall community engagement through enriched recreational experiences.
This information is meant to be a general summary of Troup County Recreation Endowment. 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 2023.
- Investment Income: $200,491
- Gross Receipts: $3,607,572
Assets and Liabilities:
- Total Assets: $8,892,423
- Total Liabilities: $0
- Net Assets: $8,892,423
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Organization Details
Phone
(706) 883-1610Principal Officer
Paul S Penn Iii
Main Address
100 RIDLEY AVE, LAGRANGE, GA, 30240
NTEE Category
Code: N32 - Recreation
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