Balmer Foundation Inc

Spartanburg, SC
Tax-exempt since March 2001
EIN: 56-2206524

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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 / Single Organization Support (NTEE)

Donations to this organization are tax deductible.

Revenue

$621k (2024)

Expenses

$3.82M (2024)

Total Assets

$32.6M (2024)

Total Liabilities

$0 (2024)

Source: Form 990 tax filings from 2011 to 2024

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 Dec.
2024

Revenue

$621,416

Expenses

$3,823,417

Net Income

-$3,202,001

Net Assets

$32,586,001

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$633,820	> 100%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$12,404
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$32,586,001
Total Liabilities	$0
Net Assets	$32,586,001

Compensation

Key Employees and Officers	Compensation	Related	Other
Kenneth E Darr Jr (Secretary)	$0	$0	$0
Monty Mullen (Chairwoman)	$0	$0	$0
Samuel J Galloway Jr (Director)	$0	$0	$0

990

Filed on July 16, 2025

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2023

Revenue

$886,764

Expenses

$5,489,806

Net Income

-$4,603,042

Net Assets

$33,042,527

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$226,336	25.5%
Program Services	$0
Investment Income	$614,168	69.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$19,339
Net Inventory Sales	$0
Other Revenue	$65,599	7.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$33,042,527
Total Liabilities	$0
Net Assets	$33,042,527

Compensation

Key Employees and Officers	Compensation	Related	Other
Kenneth E Darr Jr (Secretary)	$0	$0	$0
Monty Mullen (Chairwoman)	$0	$0	$0
Samuel J Galloway Jr (Director)	$0	$0	$0

990

Filed on Dec. 12, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2022

Revenue

$164,190

Expenses

$1,302,909

Net Income

-$1,138,719

Net Assets

$34,371,148

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$679,066	> 100%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$32,129
Net Inventory Sales	$0
Other Revenue	-$482,747

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$34,371,148
Total Liabilities	$0
Net Assets	$34,371,148

Compensation

Key Employees and Officers	Compensation	Related	Other
Monty Mullen (Chairwoman)	$0	$0	$0
Kenneth E Darr Jr (Secretary)	$0	$0	$0
Sam Galloway (Director)	$0	$0	$0

990

Filed on Nov. 14, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2021

Revenue

$665,686

Expenses

$798,759

Net Income

-$133,073

Net Assets

$40,500,350

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,212	0.2%
Program Services	$0
Investment Income	$508,726	76.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$48,201
Net Inventory Sales	$0
Other Revenue	$203,949	30.6%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$40,500,350
Total Liabilities	$0
Net Assets	$40,500,350

Compensation

Key Employees and Officers	Compensation	Related	Other
Monty Mullen (Chairwoman)	$0	$0	$0
Kenneth E Darr Jr (Secretary)	$0	$0	$0
Sam Galloway (Director)	$0	$0	$0

990

Filed on Nov. 10, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Dec.
2020

Revenue

$4,737,675

Expenses

$1,982,444

Net Income

$2,755,231

Net Assets

$37,372,263

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$4,270,362	90.1%
Program Services	$0
Investment Income	$424,587	9.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$48,020
Net Inventory Sales	$0
Other Revenue	$90,746	1.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$37,372,263
Total Liabilities	$0
Net Assets	$37,372,263

Compensation

Key Employees and Officers	Compensation	Related	Other
Monty Mullen Hankinson (Chairwoman)	$0	$0	$0
Kenneth E Darr Jr (Secretary)	$0	$0	$0
William Barnet Iii (Director)	$0	$0	$0

990

Filed on Nov. 8, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2019

Revenue

$1,136,175

Expenses

$2,410,818

Net Income

-$1,274,643

Net Assets

$30,719,066

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$531,421	46.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$98,497
Net Inventory Sales	$0
Other Revenue	$703,251	61.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$30,719,066
Total Liabilities	$0
Net Assets	$30,719,066

Compensation

Key Employees and Officers	Compensation	Related	Other
Monty Mullen Hankinson (Chairwoman)	$0	$0	$0
Kenneth E Darr Jr (Secretary)	$0	$0	$0
William Barnet Iii (Director)	$0	$0	$0

990

Filed on Nov. 4, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2018

Revenue

$2,042,364

Expenses

$2,623,284

Net Income

-$580,920

Net Assets

$27,837,599

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,573,317	77.0%
Program Services	$0
Investment Income	$514,716	25.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$45,669
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$27,837,599
Total Liabilities	$0
Net Assets	$27,837,599

Compensation

Key Employees and Officers	Compensation	Related	Other
Monty Mullen Hankinson (Chairwoman)	$0	$0	$0
Kenneth E Darr Jr (Secretary)	$0	$0	$0
William Barnet Iii (Director)	$0	$0	$0

990

Filed on May 14, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2017

Revenue

$7,851,174

Expenses

$953,755

Net Income

$6,897,419

Net Assets

$30,578,195

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$7,494,206	95.5%
Program Services	$0
Investment Income	$456,278	5.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$99,914
Net Inventory Sales	$0
Other Revenue	$604	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$30,578,195
Total Liabilities	$0
Net Assets	$30,578,195

Compensation

Key Employees and Officers	Compensation	Related	Other
Monty Mullen Hankinson (Chairwoman)	$0	$0	$0
Kenneth E Darr Jr (Secretary)	$0	$0	$0
William Barnet Iii (Director)	$0	$0	$0

990

Filed on May 2, 2018

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2016

Revenue

$20,364,728

Expenses

$1,168,767

Net Income

$19,195,961

Net Assets

$21,041,424

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$20,192,448	99.2%
Program Services	$0
Investment Income	$172,972	0.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$692
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$21,041,424
Total Liabilities	$0
Net Assets	$21,041,424

Compensation

Key Employees and Officers	Compensation	Related	Other
Monty Mullen Hankinson (Chairman)	$0	$0	$0
Kenneth E Darr Jr (Secretary)	$0	$0	$0
William Barnet Iii (Director)	$0	$0	$0

990

Filed on May 8, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2015

Revenue

$22,300

Expenses

$35,386

Net Income

-$13,086

Net Assets

$1,264,336

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$20,438	91.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,862	8.3%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,264,336
Total Liabilities	$0
Net Assets	$1,264,336

Compensation

Key Employees and Officers	Compensation	Related	Other
Monty Mullen Hankinson (Chairman)	$0	$0	$0
Kenneth E Darr Jr (Secretary)	$0	$0	$0
William Barnet Iii (Director)	$0	$0	$0

990

Filed on May 2, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$27,377

Expenses

$27,143

Net Income

$234

Net Assets

$1,327,212

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$18,973	69.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$8,404	30.7%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,327,212
Total Liabilities	$0
Net Assets	$1,327,212

Compensation

Key Employees and Officers	Compensation	Related	Other
Lucia Balmer (Chairman)	$0	$0	$0
Kenneth E Darr Jr (Secretary)	$0	$0	$0
William Barnet Iii (Director)	$0	$0	$0

990

Filed on April 20, 2015

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$41,816

Expenses

$126,410

Net Income

-$84,594

Net Assets

$1,309,479

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$20,811	49.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$21,005	50.2%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,309,479
Total Liabilities	$0
Net Assets	$1,309,479

Compensation

Key Employees and Officers	Compensation	Related	Other
Lucia Balmer (Chairman)	$0	$0	$0
Kenneth E Darr Jr (Secretary)	$0	$0	$0
William Barnet Iii (Director)	$0	$0	$0

990

Filed on April 2, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2012

Revenue

$27,638

Expenses

$81,921

Net Income

-$54,283

Net Assets

$1,270,677

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$19,266	69.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$8,372	30.3%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,270,677
Total Liabilities	$0
Net Assets	$1,270,677

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$24,855

Expenses

$512,762

Net Income

-$487,907

Net Assets

$1,211,525

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$21,510	86.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$3,345	13.5%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$1,211,525
Total Liabilities	$0
Net Assets	$1,211,525

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

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Updated August 21, 2025

Balmer Foundation Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $621k (2024)

Expenses $3.82M (2024)

Total Assets $32.6M (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

Revenue

$621k (2024)

Expenses

$3.82M (2024)

Total Assets

$32.6M (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
2003

Fiscal Year Ending Dec.
2002

Fiscal Year Ending Dec.
2001