Rich Family Foundation
- Assets
- $6.7m
- Revenue
- $4.3m
- Investments
- $5.9m
- Employees
- 0
- Location
- Buffalo, NY
- Founding
- 10/1962
- Data as of
- 12/2021
- EIN
- 16-6026199
Organization Overview
Rich Family Foundation is located in Buffalo, NY. The organization was established in 1962. 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. Rich Family 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, Rich Family Foundation generated $4.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 48.7% each year . All expenses for the organization totaled $2.7m during the year ending 12/2021. While expenses have increased by 20.5% 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, Rich Family Foundation has awarded 232 individual grants totaling $7,502,032. 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
NONE
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert E Rich Jr Chairman | 0 | $0 | |
Melinda Rich President | 0 | $0 | |
Mary Pat O'connor Exec. Director & Secretary | 0 | $0 | |
Joseph W Segarra Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,900,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $350,272 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $95 |
| Capital Gain Net Income | $95 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,250,367 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $113,293 |
| Total operating and administrative expenses | $142,442 |
| Contributions, gifts, grants paid | $2,571,012 |
| Total expenses and disbursements | $2,713,454 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $550,160 |
| Savings and temporary cash investments | $255,486 |
| 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 | $5,741,500 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $6,748,385 |
| 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, Rich Family Foundation has awarded $2,571,012 in support to 98 organizations.
| Grant Recipient | Amount |
|---|---|
Hyde Park, NY PURPOSE: ANNUAL DONATION | $297,909 |
Buffalo, NY PURPOSE: GENERAL DONATION | $150,000 |
WESMINSTER ECONOMIC DEVELOPMENT INC (WEDI) PURPOSE: CORPORATE SPONSORSHIP | $150,000 |
Canton, MA PURPOSE: ANNUAL DONATION | $125,000 |
ALBRIGHT KNOX ART GALLERY PURPOSE: ANNUAL DONATION | $110,000 |
CLEVELAND CLINIC FOUNDATION PURPOSE: ANNUAL DONATION | $100,150 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Tansy Charitable Foundation New York, NY | $325,076,608 | $77,631,295 |
Gordon & Llura Gund Foundation Princeton, NJ | $18,024,465 | $6,191,436 |