Red Bank Foundation Inc
- Assets
- $167.3k
- Revenue
- $22.7k
- Investments
- $160.6k
- Employees
- 0
- Location
- Vero Beach, FL
- Founding
- 05/1953
- Data as of
- 12/2023
- EIN
- 21-0737092
Organization Overview
Red Bank Foundation Inc is located in Vero Beach, FL. The organization was established in 1953. 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. Red Bank 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, Red Bank Foundation Inc generated $22.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (17.7%) each year. All expenses for the organization totaled $20.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (19.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Red Bank Foundation Inc has awarded 37 individual grants totaling $428,900. 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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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $19 |
| Dividends & Interest | $22,638 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $22,657 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $1 |
| Taxes | $1,039 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,732 |
| Contributions, gifts, grants paid | $18,600 |
| Total expenses and disbursements | $20,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,746 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $167,305 |
| 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, Red Bank Foundation Inc has awarded $18,600 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
LEARNING ALLIANCE PURPOSE: TUTORING CHILDREN | $1,000 |
GIFFORD YOUTH ACHIEVEMENT CENTER PURPOSE: YOUTH ACHIEVEMENT | $10,000 |
CLEVELAND CLINIC FOUNDATION PURPOSE: EXPAND TECHNOLOGY & CAPACITY | $1,000 |
JOHNS ISLAND COMMUNITY SERVICE LEAG PURPOSE: SERVE FAMILIES IN NEED | $5,000 |
JOHN'S ISLAND FOUNDATION PURPOSE: PROVIDE SUPPORT FOR FAMILIES IN NEED | $1,000 |
VNA & HOSPICE FOUNDATION PURPOSE: HELPING FAMILIES IN NEED | $600 |