Readers Digest Foundation is located in White Plains, NY. The organization was established in 1968. 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. Readers Digest 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, Readers Digest Foundation generated $462.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $843.5k during the year ending 12/2021. While expenses have increased by 9.2% 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 2014, Readers Digest Foundation has awarded 45 individual grants totaling $3,503,312. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
VOLUNTEER PROGRAM - THE FOUNDATION SUPPORTED VOLUNTEER ACTIVITY BY EMPLOYEES OF TRUSTED MEDIA BRANDS, INC., FOR UNDERPRIVILEGED CHILDREN INCLUDING A BACK-TO-SCHOOL CLOTHING DRIVE, CHRISTMAS HOLIDAY PARTIES AND EDUCATIONAL PROGRAMS. ACTIVITIES WERE LIMITED IN 2021 DUE TO THE COVID 19 PANDEMIC.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Paul Gillow President | 4 | $18,360 | |
Leigh Truitt Secretary | 2 | $2,988 | |
Bonnie Kintzer Chairwoman | 1 | $0 | |
Jen Tyrrell Director | 1 | $0 | |
Maria Morganti Treasurer | 1 | $0 |
Statement of Revenue | |
---|---|
Contributions, Gifts, Grants & Similar | $0 |
Interest on Savings | $36,385 |
Dividends & Interest | $29,282 |
Net Rental Income | $0 |
Net Gain on Sale of Assets | $396,970 |
Capital Gain Net Income | $396,970 |
Net ST Capital Gain | $0 |
Income Modifications | $0 |
Profit on Inventory Sales | $0 |
Other Income | $0 |
Total Revenue | $462,637 |
Statement of Expenses | |
---|---|
Compensation of officers, directors, trustees, etc | $21,348 |
Other employee salaries and wages | $0 |
Pension plans, employee benefits | $0 |
Interest | $0 |
Taxes | $6,431 |
Depreciation | $0 |
Occupancy | $0 |
Travel, conferences, and meetings | $1,366 |
Printing and publications | $0 |
Other expenses | $7,251 |
Total operating and administrative expenses | $60,396 |
Contributions, gifts, grants paid | $783,121 |
Total expenses and disbursements | $843,517 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $94,671 |
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 | $3,322,592 |
Accounts payable and accrued expenses | $27,168 |
Grants payable | $12,598 |
Deferred revenue | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Mortgages and other notes payable | $0 |
Other liabilities | $17,207 |
Total liabilities | $56,973 |
Over the last fiscal year, Readers Digest Foundation has awarded $776,525 in support to 6 organizations.
Grant Recipient | Amount |
---|---|
San Diego, CA PURPOSE: THE GRANT SUPPORTS THE 40 MILLION STORIES CAMPAIGN WHICH ALLOWS MEMBERS OF THE ARMED FORCES OF THE UNITED STATES TO READ STORIES WHILE DEPLOYED OVERSEAS OR AT SEA AND RECORD THEM SO THEY CAN BE READ TO THEIR CHILDREN AT HOME. | $750,000 |
MATCHING GIFTS PROGRAM PURPOSE: MATCHING GIFTS PROGRAM - GIFTS TO PUBLICLY SUPPORTED CHARITIES MATCHING THE CONTRIBUTIONS OF EMPLOYEES OF TRUSTED MEDIA BRANDS, INC. | $21,003 |
VOLUNTEER INCENTIVE PROGRAM PURPOSE: VOLUNTEER INCENTIVE PROGRAM - GRANTS TO CHARITABLE ORGANIZATIONS IN WHICH EMPLOYEES OF TRUSTED MEDIA BRANDS, INC., PARTICIPATE AS VOLUNTEERS. | $3,000 |
Yonkers, NY PURPOSE: CHRISTMAS GIFTS | $1,500 |
DRIFTWOOD PURPOSE: DIVERSITY | $1,000 |
DIRECT CHARITABLE ACTIVITIES - PART PURPOSE: DIRECT CHARITABLE ACTIVITIES DESCRIBED IN PART IX-A OF FORM 990-PF. ACTIVITIES WERE LIMITED DUE TO THE COVID 19 PANDEMIC. | $22 |
Organization Name | Assets | Revenue |
---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Adelson Family Foundation Needham, MA | $5,626,414 | $49,822,227 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |
Big East Conference Inc New York, NY | $25,429,264 | $59,716,596 |