R C Smith Foundation Inc
- Assets
- $16.0m
- Revenue
- $578.2k
- Investments
- $15.4m
- Employees
- 0
- Location
- Norwich, NY
- Founding
- 12/2004
- Data as of
- 12/2022
- EIN
- 20-1893940
Organization Overview
R C Smith Foundation Inc is located in Norwich, NY. The organization was established in 2004. 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. R C Smith 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 12/2022, R C Smith Foundation Inc generated $578.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $978.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, R C Smith Foundation Inc has awarded 338 individual grants totaling $8,329,388. 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 |
|---|---|---|---|
William Acee President | 3 | $0 | |
Kurt T Edwards Vice President | 3 | $0 | |
John Franco Treasurer | 3 | $0 | |
Thomas C Emerson Secretary | 3 | $0 | |
Richard M Runyon Administrator | 12 | $60,900 | |
Mary W Davis Director | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $445,216 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $132,959 |
| Capital Gain Net Income | $132,959 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $578,175 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $60,900 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $24,173 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,362 |
| Total operating and administrative expenses | $193,072 |
| Contributions, gifts, grants paid | $785,136 |
| Total expenses and disbursements | $978,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $196,864 |
| Savings and temporary cash investments | $415,889 |
| 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 | $12,780,753 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $16,049,693 |
| 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, R C Smith Foundation Inc has awarded $785,136 in support to 38 organizations.
| Grant Recipient | Amount |
|---|---|
CHENANGO COUNTY HELPING FAMILIES INC PURPOSE: FINANCIAL ASSISTANCE FOR FAMILIES IN NEED | $6,000 |
CHENANGO SPCA PURPOSE: MICROCHIPS | $4,800 |
6 ON THE SQUARE PURPOSE: FREE CONCERTS | $10,000 |
BEAVER MEADOW CHRISTIAN CHURCH PURPOSE: NEW ROOF | $4,825 |
4 TOWNS FORWARD PURPOSE: COMPLETION OF THE BAINBRIDGE COMMUNITY CENTER | $35,000 |
CHENANGO COUNTY HISTORICAL SOCIETY PURPOSE: MASONRY REPOINTING | $15,000 |