The Richard W Sorenson Family Foundation Inc
- Assets
- $9.9m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Lauderdale, FL
- Founding
- 03/1985
- Data as of
- 12/2021
- EIN
- 22-2547323
Organization Overview
The Richard W Sorenson Family Foundation Inc is located in Fort Lauderdale, FL. The organization was established in 1985. 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. Richard W Sorenson Family 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 12/2021, Richard W Sorenson Family Foundation Inc generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 34.7% each year . All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 15.9% per year over the past 7 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 2016, Richard W Sorenson Family Foundation Inc has awarded 21 individual grants totaling $3,138,500. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra Sorenson Vp, Secretary, Director | 0 | $0 | |
Paul Kleinfeld Director | 0 | $0 | |
Richard W Sorenson President, Treasurer, Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $338,580 |
| Interest on Savings | $0 |
| Dividends & Interest | $66,431 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,095,097 |
| Capital Gain Net Income | $3,095,097 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $93 |
| Total Revenue | $3,500,201 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $33,580 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $33,605 |
| Contributions, gifts, grants paid | $1,085,000 |
| Total expenses and disbursements | $1,118,605 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,177,713 |
| 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 | $5,706,893 |
| Total assets | $9,884,606 |
| 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, The Richard W Sorenson Family Foundation Inc has awarded $1,085,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Babson Park, MA PURPOSE: SUPPORT ORGANIZATION'S PROGRAMS AND ACTIVITIES | $1,000,000 |
CLEVELAND CLINIC MARTIN HEALTH FOUNDATION PURPOSE: SUPPORT ORGANIZATION'S PROGRAMS AND ACTIVITIES | $50,000 |
Moose, WY PURPOSE: SUPPORT ORGANIZATION'S PROGRAMS AND ACTIVITIES | $25,000 |
West Hartford, CT PURPOSE: SUPPORT ORGANIZATION'S PROGRAMS AND ACTIVITIES | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
Miriam U Hoover Foundation Vero Beach, FL | $0 | $462,542 |
Dr Herbert And Nicole Wertheim Family Foundation Inc Miami, FL | $42,831,898 | $5,245,016 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
The Mary Alice Fortin Foundation Palm Beach, FL | $167,401,142 | $8,209,363 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |
Anverse Inc Cartersville, GA | $0 | $25,436,325 |
Louis And Gloria Flanzer Philantrhopic Tr Sarasota, FL | $95,188,629 | $13,796,000 |
Uga Real Estate Foundation Inc Athens, GA | $310,229,529 | $14,839,274 |
The Gary W Rollins Foundation Atlanta, GA | $72,624,629 | $27,015,806 |
Theodore R & Vivian M Johnson Scholarship Foundation Inc West Palm Beach, FL | $0 | $7,841,898 |