The George E Richmond Foundation
- Assets
- $42.9m
- Revenue
- $2.2m
- Investments
- $39.1m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 05/2007
- Data as of
- 12/2023
- EIN
- 20-4234710
Organization Overview
The George E Richmond Foundation is located in Chicago, IL. The organization was established in 2007. 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. George E Richmond 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 12/2023, George E Richmond Foundation generated $2.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. While expenses have increased by 2.2% per year over the past 9 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, George E Richmond Foundation has awarded 61 individual grants totaling $17,153,716. 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 |
|---|---|---|---|
Arthur L Herbst Jr Co-President/treasurer | 0 | $250,000 | |
Alfred E Brennan Jr Co-President/secretary | 0 | $250,000 | |
Brian Bermer Director | 0 | $0 | |
Richard Richmond Director | 0 | $0 | |
Jamie H Swartout Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $9,590 |
| Dividends & Interest | $1,137,597 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,016,502 |
| Capital Gain Net Income | $1,002,671 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $47,494 |
| Total Revenue | $2,211,183 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $500,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $85,111 |
| Interest | $0 |
| Taxes | $121,514 |
| Depreciation | $6,406 |
| Occupancy | $47,075 |
| Travel, conferences, and meetings | $29,093 |
| Printing and publications | $0 |
| Other expenses | $143,081 |
| Total operating and administrative expenses | $1,314,425 |
| Contributions, gifts, grants paid | $1,444,000 |
| Total expenses and disbursements | $2,758,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,788,856 |
| Net Accounts receivable | $22,022 |
| 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 | $4,642 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $9,982,549 |
| Net Land, buildings, and equipment | $16,018 |
| Other assets | $8,523 |
| Total assets | $42,930,715 |
| Accounts payable and accrued expenses | $928 |
| 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 | $852,033 |
| Total liabilities | $852,961 |
Grants Awarded
Over the last fiscal year, The George E Richmond Foundation has awarded $1,744,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
GEORGETOWN UNIVERSITY PURPOSE: ORAL AND SYSTEMIC HEALTH RBH SCHOLARS PROGRAM | $180,000 |
THE CHICAGO COMMUNITY TRUST PURPOSE: GEORGE RICHMOND FOUNDATION DAF | $350,000 |
UNIVERSITY OF CHICAGO MEDICINE PURPOSE: STUDY THE EFFECTS OF ORAL HEALTH ON SYSTEMIC HEALTH | $500,000 |
GEORGETOWN UNIVERSITY HEALTH JUSTICE ALLIANCE PURPOSE: STAFF ATTORNEY FUND | $59,000 |
GEORGETOWN UNIVERSITY PURPOSE: GEORGE E. RICHMOND FOUNDATION TERM PROFESSORSHIP | $300,000 |
GEORGETOWN UNIVERSITY PURPOSE: GEORGE E. RICHMOND FELLOWSHIP FUND | $300,000 |