Paul C Richards & Gladys Richards Charitable Foundation
- Assets
- $1.3m
- Revenue
- $163.7k
- Investments
- $1.3m
- Employees
- 0
- Location
- Newport, RI
- Founding
- 12/1995
- Data as of
- 12/2021
- EIN
- 04-6774586
Organization Overview
Paul C Richards & Gladys Richards Charitable Foundation is located in Newport, RI. The organization was established in 1995. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paul C Richards & Gladys Richards Charitable Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Paul C Richards & Gladys Richards Charitable Foundation generated $163.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $111.7k during the year ending 12/2021. While expenses have increased by 10.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Paul C Richards & Gladys Richards Charitable Foundation has awarded 45 individual grants totaling $571,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tammy Rice Trustee | 5 | $1,200 | |
Linda Arman Trustee | 5 | $1,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $39,306 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $124,419 |
| Capital Gain Net Income | $124,419 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $163,725 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,400 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,165 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $31,677 |
| Contributions, gifts, grants paid | $80,000 |
| Total expenses and disbursements | $111,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $32,426 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,334,838 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Paul C Richards & Gladys Richards Charitable Foundation has awarded $80,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
UMASS MEMORIAL FOUNDATION PURPOSE: EDUCATIONAL | $30,000 |
THE BOSTON HOUSE PURPOSE: EDUCATIONAL | $10,000 |
TTC RESEARCH GRANT PURPOSE: EDUCATIONAL | $10,000 |
ST JUDES RESEARCH HOSPITAL PURPOSE: MEDICAL RESEARCH | $10,000 |
South Kortright, NY PURPOSE: EDUCATIONAL | $10,000 |
SHRINERS HOSPITAL FOR CHILDREN PURPOSE: PUBLIC HEALTH | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Steven & Alexandra Cohen Foundation Inc Stamford, CT | $524,605,658 | $98,007,018 |
Liberty Mutual Foundation Inc Boston, MA | $40,383,671 | $39,283,240 |
Mercer Family Foundation Waltham, MA | $54,165,721 | $38,341,516 |
Brooks Family Foundation Boston, MA | $0 | $26,552,695 |
Yawkey Foundation Ii Dedham, MA | $0 | $18,548,394 |
High Meadows Foundation Boston, MA | $7,499,132 | $11,021,494 |
Synchrony Foundation Stamford, CT | $74,474,766 | $12,637,293 |
Gavin Foundation Inc South Boston, MA | $19,688,054 | $21,343,242 |
Jp Fletcher Foundation Inc Cambridge, MA | $29,829,221 | -$3,521,275 |
Dalio Foundation Inc Westport, CT | $1,484,061,978 | $687,569,757 |
Seedlings Foundation Branford, CT | $139,526,871 | $5,281,922 |
Allen H & Selma W Berkman Charitable Trust Boston, MA | $738,750 | $104,320 |