Rich Charitable Foundation
- Assets
- $296.2k
- Revenue
- $276.0k
- Investments
- $319.2k
- Employees
- 0
- Location
- San Pedro, CA
- Founding
- 01/2008
- Data as of
- 12/2022
- EIN
- 20-8117455
Organization Overview
Rich Charitable Foundation is located in San Pedro, CA. The organization was established in 2008. 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 Charitable 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 12/2022, Rich Charitable Foundation generated $276.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $416.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Rich Charitable Foundation has awarded 79 individual grants totaling $1,681,630. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph W Rich President | 0 | $0 | |
John W Rich Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $300,000 |
| Interest on Savings | $16 |
| Dividends & Interest | $11,997 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$36,029 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $275,984 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $723 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $13,852 |
| Total operating and administrative expenses | $14,575 |
| Contributions, gifts, grants paid | $401,870 |
| Total expenses and disbursements | $416,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | -$23,030 |
| 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 | $319,220 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $296,190 |
| Accounts payable and accrued expenses | $5,000 |
| 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 | $5,000 |
Grants Awarded
Over the last fiscal year, Rich Charitable Foundation has awarded $401,870 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
MARY STAR OF THE SEA HIGH SCHOOL PURPOSE: GENERAL PROGRAM SUPPORT | $28,590 |
KIDS AROUND THE WORLD INC PURPOSE: ONEMEAL PROGRAM: 100,000 MEALS FOR KIDS IN REFUGEE SETTLEMENTS OF NORTHERN UGANDA BY CALVARY CHAPEL HIGH SCHOOL | $30,500 |
BOYS & GIRLS CLUB OF LA HARBOR PURPOSE: COMPREHENSIVE CAMPAIGN | $75,000 |
LIFE TEEN INC PURPOSE: LIFE TEEN MOVEMENT - PRESIDENT'S GATHERING | $200,000 |
THE CATHOLIC UNIVERSITY OF AMERICA PURPOSE: BUSCH SCHOOL OF BUSINESS | $25,000 |
THE ABANA FOUNDATION PURPOSE: ADFA SUMMER EVENT | $10,000 |