by Gwen Moritz
Posted 7/7/2008 12:00 am
Updated 1 year ago
Arkansas Business' annual list of the state's largest nonprofit organizations is new and improved.
This year's list ranks the 25 largest nonprofits - primarily grant-making private foundations and operating foundations that raise money for a specific beneficiary - by total assets reported to the IRS. For the first time, the list includes a line showing the total value of grants made in the fiscal year by the grant-making foundations, and that line can easily be compared with the total expenses.
Operational foundations file a somewhat different version of the 990 than do the private foundations, and it does not include a total value of grants. In those cases the "grants and gifts" line indicates that the number is not applicable.
Most of the nonprofits are ranked by data included in IRS Form 990 for 2006, though some of those fiscal years ended in 2007. The Charles A. Frueauff Foundation of Little Rock provided a draft of its 2007 Form 990.
The wealthiest nonprofit in Arkansas remains the Walton Family Foundation in Bentonville. The foundation established by the family of Wal-Mart founder Sam Walton had assets with market value of almost $1.4 billion at the end of 2006, up $890 million at the end of 2005.
Rounding out the list of 25 is the Wal-Mart Foundation, also based in Bentonville. Its $22.9 million in assets are a tiny fraction of the Walton Family Foundation's, but it gave away more than $128 million during the fiscal year that ended on Jan. 31, 2007. Only the Walton Family Foundation gave away more during fiscal 2006: $188.9 million.
The list shows increases in the value of assets for 22 of the 25 organizations. The Walton Family Charitable Support Foundation of Bentonville showed a small decrease in total assets, from $77.2 million to $76.2 million, and the Arkansas Arts Center Foundation's assets declined from $29.8 million to $29.4 million.
The Windgate Charitable Foundation of Siloam Springs took a much bigger tumble, from $63.8 million at the end of 2005 to $43.7 million a year later. But it should be noted that the foundation's total revenue also declined substantially, from $14.4 million in 2005 to $8.3 million in 2006, while its grant-making increased, from $19.4 million to $23.7 million.
As has been the case for the past few years, the list includes the salary and any other compensation paid to the top executive as revealed in the more recent of the 990s. Eight of the organizations have unpaid executives. The rest compensated their top executives between $2,000 (Kaneaster Hodges Jr. of the Walton Family Charitable Support Foundation) and $335,136 (Frank Tugwell of the Winrock International Institute in Little Rock).
The list notes an even bigger pay package for the Winthrop Rockefeller Foundation, the largest of three Rockefeller-backed organizations on the list, but that was the final compensation package for Sybil J. Hampton beforeher retirement in August 2006.