Wyomissing Foundation Inc
- Assets
- $30.3m
- Revenue
- $2.0m
- Investments
- $27.4m
- Employees
- 0
- Location
- Wyomissing, PA
- Founding
- 12/1957
- Data as of
- 12/2020
- EIN
- 23-1980570
Organization Overview
Wyomissing Foundation Inc is located in Wyomissing, PA. The organization was established in 1957. 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. Wyomissing 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 12/2020, Wyomissing Foundation Inc generated $2.0m 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 (3.6%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wyomissing Foundation Inc has awarded 248 individual grants totaling $8,267,130. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOT APPLICABLE - QUALIFYING DISTRIBUTIONS ARE MADE TO VARIOUS GRANTEE ORGANIZATIONS WHICH HELP TO ACCOMPLISH THE GRANTEE ORGANIZATION'S CHARITABLE, EDUCATIONAL, OR SIMILAR EXEMPT PURPOSE. QUALIFYING DISTRIBUTIONS ARE NOT USED BY THE FOUNDATION ITSELF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Rightmire President | 36 | $91,565 | |
Christopher Pruitt Chairperson (till 10/21) | 2 | $0 | |
Mary Kargbo Director/chairperson | 2 | $0 | |
Andrew Buckman Director/secretary | 2 | $0 | |
Dr Anna Weitz Director (till 10/21) | 2 | $0 | |
Bally Thun Secretary (till 10/21) | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $29,285 |
| Interest on Savings | $0 |
| Dividends & Interest | $574,793 |
| Net Rental Income | $9,959 |
| Net Gain on Sale of Assets | $1,393,559 |
| Capital Gain Net Income | $1,393,559 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $35,139 |
| Total Revenue | $2,042,735 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $85,884 |
| Other employee salaries and wages | $162,835 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $44,992 |
| Depreciation | $10,576 |
| Occupancy | $15,541 |
| Travel, conferences, and meetings | $2,423 |
| Printing and publications | $0 |
| Other expenses | $82,106 |
| Total operating and administrative expenses | $479,782 |
| Contributions, gifts, grants paid | $1,457,499 |
| Total expenses and disbursements | $1,937,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,695 |
| Savings and temporary cash investments | $1,549,538 |
| 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 | $1,000,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $546 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $26,407,762 |
| Net Land, buildings, and equipment | $291,695 |
| Other assets | $9,000 |
| Total assets | $30,348,021 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $549,286 |
| 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 | $549,286 |
Grants Awarded
Over the last fiscal year, Wyomissing Foundation Inc has awarded $1,258,530 in support to 45 organizations.
| Grant Recipient | Amount |
|---|---|
Reading, PA PURPOSE: CAPITAL CAMPAIGN | $182,000 |
Reading, PA PURPOSE: STRATEGIC INITIATIVE - BUILDING/OPERATIONS MANAGER | $60,480 |
Reading, PA PURPOSE: STRATEGIV INITIATIVE - BUILDING/OPERATIONS MANAGER | $60,480 |
READING PUBLIC LIBRARY PURPOSE: COMMUNITY GRANTS PROGRAM | $50,000 |
West Reading, PA PURPOSE: COMMUNITY DEVELOPMENT GRANT | $50,000 |
Reading, PA PURPOSE: STRATEGIC INITIATIVES | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Wyomissing Foundation Inc has recieved totaling $12,000.
| Awarding Organization | Amount |
|---|---|
United Way Of Berks County Reading, PA PURPOSE: SUBCONTRACED GRANTS: CAPITAL CAMPAIGN REVIEW BOARD | $5,000 |
United Way Of Berks County Reading, PA PURPOSE: SUBCONTRACED GRANTS: CAPITAL CAMPAIGN REVIEW BOARD | $5,000 |
Henry Janssen Foundation Wyomissing, PA PURPOSE: CAPITAL CAMPAIGN REVIEW BOARD | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John R Oishei Foundation Buffalo, NY | $294,151,477 | $18,357,929 |
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
American Express Foundation New York, NY | $66,234,265 | $62,922,703 |
Essel Foundation Inc Purchase, NY | $100,106,056 | $12,292,478 |
Beth And Ravenel Curry Foundation New York, NY | $0 | $44,744,046 |
Kz Family Foundation New York, NY | $10,936,301 | $30,139,672 |
The Freeman Foundation P-01644-00-7 New York, NY | $343,405,683 | $35,941,951 |
Hearst Foundation Inc New York, NY | $439,249,947 | $42,040,987 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |