The Neag Foundation
- Assets
- $72.4m
- Revenue
- $6.0m
- Investments
- $69.0m
- Employees
- 0
- Location
- Wyomissing, PA
- Founding
- 03/1993
- Data as of
- 06/2022
- EIN
- 23-2712023
Organization Overview
The Neag Foundation is located in Wyomissing, PA. The organization was established in 1993. 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. Neag 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 06/2022, Neag Foundation generated $6.0m in total revenue. All expenses for the organization totaled $2.8m during the year ending 06/2022. While expenses have increased by 121.5% per year over the past 6 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sally Reis Renzulli Trustee | 1 | $9,000 | |
Carole J Neag Trustee | 1 | $9,000 | |
Heidi C Hogan Trustee | 1 | $9,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Domani Wealth | 6/29/22 | $183,326 |
Domani Wealth | 6/29/22 | $183,326 |
Connors Investor Services Inc | 6/29/22 | $56,991 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,140,888 |
| Interest on Savings | $59,028 |
| Dividends & Interest | $1,392,413 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,337,474 |
| Capital Gain Net Income | $1,337,474 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $81,568 |
| Total Revenue | $6,011,371 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $27,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $83,586 |
| Depreciation | $6,858 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25,202 |
| Total operating and administrative expenses | $728,639 |
| Contributions, gifts, grants paid | $2,103,946 |
| Total expenses and disbursements | $2,832,585 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,341,575 |
| 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 | $1,637,077 |
| Net Land, buildings, and equipment | $191 |
| Other assets | $0 |
| Total assets | $72,365,093 |
| 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 |