Florence Forgotson Private Foundation Inc
- Assets
- $3.9m
- Revenue
- $192.6k
- Investments
- $3.7m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 12/2004
- Data as of
- 12/2023
- EIN
- 20-0857287
Organization Overview
Florence Forgotson Private Foundation Inc is located in Wilmington, DE. The organization was established in 2004. 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. Florence Forgotson Private 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 12/2023, Florence Forgotson Private Foundation Inc generated $192.6k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $246.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Florence Forgotson Private Foundation Inc has awarded 85 individual grants totaling $307,250. 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 |
|---|---|---|---|
Lynn Cole Dir, VP | 25 | $62,240 | |
Carol Ann Hinz Dir, Pres, Sec | 25 | $70,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $18,588 |
| Dividends & Interest | $168,768 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,219 |
| Capital Gain Net Income | $5,219 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $192,575 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $132,240 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $12,230 |
| Interest | $0 |
| Taxes | $2,822 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $23,802 |
| Total operating and administrative expenses | $175,238 |
| Contributions, gifts, grants paid | $71,000 |
| Total expenses and disbursements | $246,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $214,067 |
| Net Accounts receivable | $4,443 |
| 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 | $3,895,418 |
| 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, Florence Forgotson Private Foundation Inc has awarded $71,000 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS - JERSEY COAST CHAPTER PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
EMCC EDUCATIONAL FOUNDATION PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
CLARK SUMMIT UNIVERSITY PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
FEEDING AMERICA PURPOSE: GENERAL & UNRESTRICTED | $1,500 |
FAITH KITCHEN PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
EVANGELICAL COMMUNITY HOSPITAL PURPOSE: GENERAL & UNRESTRICTED | $5,000 |