Victor M Richel Family Foundation Inc
- Assets
- $24.6k
- Revenue
- $15.6k
- Investments
- $11.4k
- Employees
- 0
- Location
- Elizabeth, NJ
- Founding
- 03/2000
- Data as of
- 12/2023
- EIN
- 22-3681344
Organization Overview
Victor M Richel Family Foundation Inc is located in Elizabeth, NJ. The organization was established in 2000. 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. Victor M Richel 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 12/2023, Victor M Richel Family Foundation Inc generated $15.6k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $18.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Victor M Richel Family Foundation Inc has awarded 61 individual grants totaling $173,872. 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 |
|---|---|---|---|
Victor M Richel Director | 0 | $0 | |
Andrea Richel Director | 0 | $0 | |
John D Richel Director | 0 | $0 | |
David L Richel Director | 0 | $0 | |
Susan R Marchelitis Director | 0 | $0 | |
Denise Collins Asst. Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $14,671 |
| Interest on Savings | $18 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $939 |
| Capital Gain Net Income | $939 |
| Net ST Capital Gain | $939 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $15,628 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $46 |
| Total operating and administrative expenses | $2,996 |
| Contributions, gifts, grants paid | $15,416 |
| Total expenses and disbursements | $18,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,231 |
| 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 | $24,606 |
| 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, Victor M Richel Family Foundation Inc has awarded $15,416 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
TRINITAS HEALTH FOUNDATION PURPOSE: HOSPITAL/MEDICAL CENTER DONATION | $4,400 |
SISTERS OF CHARITY OF ST ELIZ PURPOSE: DONATION | $650 |
RWJ BARNABAS HEALTH PURPOSE: HOSPITAL/MEDICAL CENTER DONATION | $300 |
UNION COUNTY COLLEGE FDN PURPOSE: SCHOLARSHIP | $10,066 |