Pate Foundation INC FY2022 filing

Tax-deductible

Morehead City, NC501(c)(3)Foundations & GrantmakersEIN 47-4038813

501(c)(3) charity; gifts are tax-deductible.
Status: IRS Pub. 78

Before you give

FY2022 · Form 990-PFIndependent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990-PF
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $73K a year · 2476% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
990-PF Pt I · 5 filings
Cash reserves
32 mo
of spending, in cash
Looks good: 31.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
990-PF Pt II
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$886
+615% vs prior year
Spent
$85K
Net assets
$225K
By yearFY2021–FY2025
Revenue
$886
FY2022▲ +615%
Revenue by fiscal year
FY2021$124
FY2022$886
FY2023$7K
FY2024$6K
FY2025$914
Expenses
$85K
FY2022▲ +15%
Expenses by fiscal year
FY2021$74K
FY2022$85K
FY2023$50K
FY2024$170K
FY2025$74
Net assets
$225K
FY2022▼ -27%
Net assets by fiscal year
FY2021$310K
FY2022$225K
FY2023$183K
FY2024$18K
FY2025$19K

From the FY2022 Form 990 (year ending June 2022) · see the original

You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

What each dollar paid for.

Grants & contributions paid 100% · $85K Operating & administrative 0% · $400

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

3 people listed on the 990-PF.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary Treasurer
$0Pt VII · Sec A
See Pate Foundation INC executive salaries →

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Programs and updates

A private foundation based in Morehead City, NC.

Provided by the organization

This section is blank until Pate Foundation INC claims this page.

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Grants and how to apply

Who it funds, and how to ask.

Who They Fund

Part XV · grants paid · 3 grants · $170K · 2023–2023
Boys and Girls Club of Coastal PlainFY2023$150,000
Working Together MississippiMS · FY2023$10,000
Open Door Mennonite ChurchFY2023$10,000

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV1
Average grantPart XV$57K
Median grantPart XV$10K
Largest grantPart XV$150K
Top cause focusNTEEEducation (33%)

By the numbers

The FY2022 990-PF, line by line.

1The main four
Money in
$886
Gifts and grants$500
Investment income$386
Money out
$85K
Grants paid$85K
Running costs$400
Owns and owes
$225K
net assets
Cash and savings$225K
Total assets$225K
Liabilities$0
People
3
listed
Paid0
2In more detail
Revenue in detail
Gifts and grants$500
Investment income$386
Total revenue$886
Assets in detailEnd of year
Cash and savings together$225K
Total assets$225K
Liabilities$0
Net assets$225K
Operations
Fiscal year endsJune

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $914$74$840$19K 990 PDF
FY2024 $6K$170K−$165K$18K 990 PDF
FY2023 $7K$50K−$43K$183K 990 PDF
FY2022 Viewing $886$85K−$85K$225K 990 PDF
FY2021 $124$74K−$74K$310K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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