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Bassett Furniture Industries Foundation is a private corporation based in BASSETT, VA. The foundation received its IRS ruling in 1993. The principal officer is Jeff Brown. It holds total assets of $755K. Annual income is reported at $18K. Total assets have decreased from $1.4M in 2010 to $767K in 2022. The foundation is governed by 3 officers and trustees. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2021 to 2023. Grantmaking is concentrated in Virginia. According to available records, Bassett Furniture Industries Foundation has made 31 grants totaling $455K, with a median grant of $10K. Annual giving has grown from $83K in 2021 to $123K in 2023. Grantmaking activity was highest in 2022 with $250K distributed across 13 grants. Individual grants have ranged from $1K to $75K, with an average award of $15K. The foundation has supported 18 unique organizations. Grants have been distributed to organizations in Virginia and North Carolina and District of Columbia. Contributions to this foundation are tax-deductible.
Smallest Grant
$1K
Median Grant
$10K
Average Grant
$9K
Largest Grant
$25K
Based on 9 grants from the most recent 990-PF filing.
No program descriptions are available for this foundation. Many private foundations report program activities in their annual 990-PF filings — check the Tax Filings section below for the most recent filing.
Bassett Furniture Industries Foundation is a private foundation that provides grants to eligible organizations. Based on available records, the foundation has funded 31 grants. Its grantmaking reaches organizations primarily in VA, NC, DC.
Bassett Furniture Industries Foundation has distributed a total of $455K across 31 grants. The median grant size is $10K, with an average of $15K. Individual grants have ranged from $1K to $75K.
Bassett Furniture Industries Foundation typically selects its grantees rather than accepting unsolicited proposals.
Bassett Furniture Industries Foundation is headquartered in BASSETT, VA. While based in VA, the foundation distributes grants to organizations across 3 states.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Robert H Spilman Jr | President | $0 | $0 | N/A |
| Edward White | Officer | $0 | $0 | N/A |
| J Michael Daniel | Officer | $0 | $0 | N/A |
Total Giving
$131K
Total Assets
$767K
Fair Market Value
$1.4M
Net Worth
$767K
Grants Paid
$123K
Contributions
$6K
Net Investment Income
$11K
Distribution Amount
$51K
Total: $358K
Total Grants
31
Total Giving
$455K
Average Grant
$15K
Median Grant
$10K
Unique Recipients
18
Most Common Grant
$10K
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| HopecoSupport | Martinsville, VA | $25K | 2023 |
| United Way Of Henry County & MartinsvilleSupport | Martinsville, VA | $25K | 2023 |
| Rooster Walk IncSupport | Martinsville, VA | $20K | 2023 |
| Henry County Furniture MuseumSupport | Bassett, VA | $20K | 2023 |
| Virginia Foundation For Independent CollegesSupport | Richmond, VA | $10K | 2023 |
| Piedmont Arts AssociationSupport | Martinsville, VA | $10K | 2023 |
| Best NcSupport | Cary, NC | $5K | 2023 |
| Virginia Museum Of Natural HistorySupport | Martinsville, VA | $5K | 2023 |
| Bassett High School BandSupport | Bassett, VA | $3K | 2023 |
| Home Furnishings Hall Of FameSupport | High Point, NC | $50K | 2022 |
| Trinity Episcopal SchoolSupport | Charlotte, NC | $30K | 2022 |
| Bassett Community CenterSupport | Bassett, VA | $5K | 2022 |
| Boys And Girls Club Of Martinsville And Henry CountySupport | Martinsville, VA | $5K | 2022 |
| Special OlympicsSupport | Washington, DC | $3K | 2022 |
| Greater Bassett Area CommunitySupport | Bassett, VA | $3K | 2022 |
| Mhc Family YmcaSupport | Martinsville, VA | $3K | 2021 |
| Morning Star Holy ChurchSupport | Martinsville, VA | $1K | 2021 |
| Deondre Millner Scholarship FundSupport | Martinsville, VA | $1K | 2021 |