Francis M Barnes Memorial Tr

Williamston, NC
Tax-exempt since Oct. 2005
EIN: 20-1533095

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Independent Foundations (NTEE)

Donations to this organization are not tax deductible.

Revenue

$1.11M (2025)

Expenses

$319k (2025)

Total Assets

$5.42M (2025)

Total Liabilities

$0 (2025)

Source: Form 990 tax filings from 2012 to 2025

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2025

Revenue

$1,106,682

Expenses

$318,958

Net Income

$787,724

Net Assets

$5,421,078

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$8,955	0.8%
Dividends	$107,747	9.7%
Sales of Assets	$989,652	89.4%
Other Income	$328	0.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$257,495	80.7%
Compensation of Officers*	$45,609	14.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$5,421,078
Total Liabilities	$0
Net Assets	$5,421,078

Compensation

Key Employees and Officers	Compensation	Other
Joel T Thigpen (Trustee)	$22,805	$0
Jennifer B Thigpen (Trustee)	$22,804	$0

990-PF

Filed on Nov. 14, 2025

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2024

Revenue

$450,474

Expenses

$285,128

Net Income

$165,346

Net Assets

$4,633,354

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,736	0.6%
Dividends	$63,009	14.0%
Sales of Assets	$384,729	85.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$246,172	86.3%
Compensation of Officers*	$61,563	21.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,633,354
Total Liabilities	$0
Net Assets	$4,633,354

Compensation

Key Employees and Officers	Compensation	Other
Jennifer B Thigpen (Trustee)	$30,782	$0
Joel T Thigpen (Trustee)	$30,781	$0

990-PF

Filed on Nov. 15, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2023

Revenue

-$62,337

Expenses

$306,508

Net Income

-$368,845

Net Assets

$4,468,008

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3,299
Dividends	$112,468
Sales of Assets	-$178,104
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$248,410	81.0%
Compensation of Officers*	$50,578	16.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,468,008
Total Liabilities	$0
Net Assets	$4,468,008

Compensation

Key Employees and Officers	Compensation	Other
Joel T Thigpen (Trustee)	$25,289	$0
Jennifer B Thigpen (Trustee)	$25,289	$0

990-PF

Filed on Nov. 14, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2022

Revenue

$1,009,046

Expenses

$326,921

Net Income

$682,125

Net Assets

$4,836,853

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$25	0.0%
Dividends	$84,070	8.3%
Sales of Assets	$924,951	91.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$251,963	77.1%
Compensation of Officers*	$62,002	19.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,836,853
Total Liabilities	$0
Net Assets	$4,836,853

Compensation

Key Employees and Officers	Compensation	Other
Joel T Thigpen (Trustee)	$31,001	$0
Jennifer B Thigpen (Trustee)	$31,001	$0

990-PF

Filed on Nov. 14, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2021

Revenue

$846,032

Expenses

$250,115

Net Income

$595,917

Net Assets

$4,154,727

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$24	0.0%
Dividends	$29,064	3.4%
Sales of Assets	$810,384	95.8%
Other Income	$6,560	0.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$207,586	83.0%
Compensation of Officers*	$56,902	22.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$4,154,728
Total Liabilities	$1
Net Assets	$4,154,727

Compensation

Key Employees and Officers	Compensation	Other
Joel T Thigpen (Trustee)	$28,451	$0
Jennifer B Thigpen (Trustee)	$28,451	$0

990-PF

Filed on Nov. 11, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2020

Revenue

$1,947

Expenses

$244,414

Net Income

-$242,467

Net Assets

$3,558,810

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$114	5.9%
Dividends	$42,193	> 100%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$198,592	81.3%
Compensation of Officers*	$43,004	17.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,558,811
Total Liabilities	$1
Net Assets	$3,558,810

Compensation

Key Employees and Officers	Compensation	Other
Joel T Thigpen (Trustee)	$21,502	$0
Jennifer B Thigpen (Trustee)	$21,502	$0

990-PF

Filed on Nov. 16, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2019

Revenue

$362,939

Expenses

$193,261

Net Income

$169,678

Net Assets

$3,801,278

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$176	0.0%
Dividends	$52,585	14.5%
Sales of Assets	$310,178	85.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$139,441	72.2%
Compensation of Officers*	$43,277	22.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,801,278
Total Liabilities	$0
Net Assets	$3,801,278

Compensation

Key Employees and Officers	Compensation	Other
Joel T Thigpen (Trustee)	$21,639	$0
Jennifer B Thigpen (Trustee)	$21,638	$0

990-PF

Filed on Nov. 15, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2018

Revenue

$651,000

Expenses

$219,447

Net Income

$431,553

Net Assets

$3,631,600

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$112	0.0%
Dividends	$35,231	5.4%
Sales of Assets	$615,657	94.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$157,754	71.9%
Compensation of Officers*	$45,016	20.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,631,600
Total Liabilities	$0
Net Assets	$3,631,600

Compensation

Key Employees and Officers	Compensation	Other
Joel T Thigpen (Trustee)	$22,508	$0
Jennifer B Thigpen (Trustee)	$22,508	$0

990-PF

Filed on Nov. 15, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2017

Revenue

$359,296

Expenses

$201,789

Net Income

$157,507

Net Assets

$3,200,047

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$13	0.0%
Dividends	$43,533	12.1%
Sales of Assets	$315,750	87.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$142,499	70.6%
Compensation of Officers*	$38,823	19.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,200,047
Total Liabilities	$0
Net Assets	$3,200,047

Compensation

Key Employees and Officers	Compensation	Other
Joel T Thigpen (Trustee)	$19,412	$0
Jennifer B Thigpen (Trustee)	$19,411	$0

990-PF

Filed on Nov. 13, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2016

Revenue

$479,297

Expenses

$204,231

Net Income

$275,066

Net Assets

$3,042,540

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$28	0.0%
Dividends	$35,978	7.5%
Sales of Assets	$443,291	92.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$148,250	72.6%
Compensation of Officers*	$36,743	18.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$3,042,540
Total Liabilities	$0
Net Assets	$3,042,540

Compensation

Key Employees and Officers	Compensation	Other
Joseph H Thigpen (Trustee)	$12,248	$0
Joel T Thigpen (Trustee)	$12,248	$0
Jennifer B Thigpen (Trustee)	$12,247	$0

990-PF

Filed on Nov. 15, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2015

Revenue

$420,812

Expenses

$203,516

Net Income

$217,296

Net Assets

$2,767,474

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$31,808	7.6%
Sales of Assets	$389,004	92.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$142,820	70.2%
Compensation of Officers*	$37,258	18.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,767,474
Total Liabilities	$0
Net Assets	$2,767,474

Compensation

Key Employees and Officers	Compensation	Other
Joseph H Thigpen (Trustee)	$12,420	$0
Joel T Thigpen (Trustee)	$12,419	$0
Jenny Thigpen (Trustee)	$12,419	$0

990-PF

Filed on Nov. 13, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2014

Revenue

$513,593

Expenses

$191,547

Net Income

$322,046

Net Assets

$2,550,178

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$25,612	5.0%
Sales of Assets	$487,981	95.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$141,430	73.8%
Compensation of Officers*	$35,070	18.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,550,178
Total Liabilities	$0
Net Assets	$2,550,178

Compensation

Key Employees and Officers	Compensation	Other
Joseph H Thigpen (Trustee)	$11,690	$0
Joel T Thigpen (Trustee)	$11,690	$0
Jenny Thigpen (Trustee)	$11,690	$0

990-PF

Filed on Nov. 14, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2013

Revenue

$230,898

Expenses

$174,644

Net Income

$56,254

Net Assets

$2,228,131

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$16	0.0%
Dividends	$33,338	14.4%
Sales of Assets	$197,544	85.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$136,053	77.9%
Compensation of Officers*	$28,593	16.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,228,132
Total Liabilities	$1
Net Assets	$2,228,131

990-PF

Filed on Dec. 27, 2013

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2012

Revenue

$84,935

Expenses

$192,111

Net Income

-$107,176

Net Assets

$2,171,877

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$1,000	1.2%
Interest Revenue	$63	0.1%
Dividends	$28,903	34.0%
Sales of Assets	$54,969	64.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$153,141	79.7%
Compensation of Officers*	$53,030	27.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$2,171,878
Total Liabilities	$1
Net Assets	$2,171,877

990-PF

Primary tax return for a private foundation's activities, finances, and governance

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Updated January 26, 2026

Francis M Barnes Memorial Tr

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $1.11M (2025)

Expenses $319k (2025)

Total Assets $5.42M (2025)

Total Liabilities $0 (2025)

Tax Filings by Year

Fiscal Year Ending June 2025

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$1.11M (2025)

Expenses

$319k (2025)

Total Assets

$5.42M (2025)

Total Liabilities

$0 (2025)

Fiscal Year Ending June
2025

Fiscal Year Ending June
2024

Fiscal Year Ending June
2023

Fiscal Year Ending June
2022

Fiscal Year Ending June
2021

Fiscal Year Ending June
2020

Fiscal Year Ending June
2019

Fiscal Year Ending June
2018

Fiscal Year Ending June
2017

Fiscal Year Ending June
2016

Fiscal Year Ending June
2015

Fiscal Year Ending June
2014

Fiscal Year Ending June
2013

Fiscal Year Ending June
2012

Fiscal Year Ending June
2011

Fiscal Year Ending June
2010

Fiscal Year Ending June
2009

Fiscal Year Ending June
2008

Fiscal Year Ending June
2007

Fiscal Year Ending June
2006

Fiscal Year Ending June
2005