Geoffrey C Hughes Foundation Inc
- Assets
- $25.1m
- Revenue
- $625.8k
- Investments
- $25.0m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 11/1991
- Data as of
- 03/2023
- EIN
- 13-3622255
Organization Overview
Geoffrey C Hughes Foundation Inc is located in Wilmington, DE. The organization was established in 1991. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Geoffrey C Hughes Foundation Inc 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 03/2023, Geoffrey C Hughes Foundation Inc generated $625.8k in total revenue. All expenses for the organization totaled $2.5m during the year ending 03/2023. While expenses have increased by 12.2% per year over the past 4 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 2020, Geoffrey C Hughes Foundation Inc has awarded 100 individual grants totaling $7,131,000. 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 |
|---|---|---|---|
Mary Bersani Dir, Pres | 40 | $190,000 | |
Matthew Bersani Dir, Treas | 35 | $150,000 | |
Catherine Burns Dir, Sec | 1 | $0 | |
Paul Burns Dir | 1 | $0 | |
Monica Orbe Cliff Dir | 1 | $0 | |
Ursula Cliff Dir | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
State Street Global Advisors | 3/30/23 | $57,908 |
Foundation Source | 3/30/23 | $51,038 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,582 |
| Dividends & Interest | $57 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $624,190 |
| Capital Gain Net Income | $1,679,291 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $625,829 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $340,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $24,614 |
| Interest | $0 |
| Taxes | $26,300 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $54,024 |
| Total operating and administrative expenses | $503,236 |
| Contributions, gifts, grants paid | $2,025,000 |
| Total expenses and disbursements | $2,528,236 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $72,587 |
| 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 | $4,466,224 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $25,071,550 |
| 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, Geoffrey C Hughes Foundation Inc has awarded $2,025,000 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
1BERKSHIRE STRATEGIC ALLIANCE FOUNDATION INC PURPOSE: BLACKSHARES FUND | $25,000 |
BERKSHIRE AGRICULTURE VENTURES PURPOSE: GENERAL & UNRESTRICTED | $75,000 |
BERKSHIRE IMMIGRANT CENTER INC PURPOSE: GENERAL & UNRESTRICTED | $20,000 |
BERKSHIRE NATURAL RESOURCES PURPOSE: GENERAL & UNRESTRICTED | $100,000 |
CAMPAIGN LEGAL CENTER INC PURPOSE: GENERAL & UNRESTRICTED | $100,000 |
BERKSHIRES BOUNTY INC PURPOSE: GENERAL & UNRESTRICTED | $15,000 |