Frank Islam & Debbie Driesman Foundation
- Assets
- $4.0m
- Revenue
- $183.9k
- Investments
- $3.6m
- Employees
- 0
- Location
- Potomac, MD
- Founding
- 12/2007
- Data as of
- 12/2022
- EIN
- 26-1306411
Organization Overview
Frank Islam & Debbie Driesman Foundation is located in Potomac, MD. The organization was established in 2007. 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. Frank Islam & Debbie Driesman 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 12/2022, Frank Islam & Debbie Driesman Foundation generated $183.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (21.1%) each year. All expenses for the organization totaled $66.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (28.9%) per year over the past 7 years. 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
NONE
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Islam President, Director | 10 | $0 | |
Debbie Driesman Vice President, Director | 10 | $0 | |
Richard J Roth Treasurer, Director | 5 | $0 | |
William Askinazi Secretary, Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $119,165 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $64,705 |
| Capital Gain Net Income | $64,705 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $183,870 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,253 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $165 |
| Total operating and administrative expenses | $41,216 |
| Contributions, gifts, grants paid | $25,000 |
| Total expenses and disbursements | $66,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $402,399 |
| 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 | $4,919 |
| Total assets | $3,996,093 |
| 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 |
Grants Awarded
Over the last fiscal year, Frank Islam & Debbie Driesman Foundation has awarded $549,444 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
BROOKINGS INSTITUTION PURPOSE: EDUCATION | $25,000 |
ALIGARH MUSLIM UNIVERSITY PURPOSE: EDUCATION | $222,222 |
MONTGOMERY COLLEGE FOUNDATION PURPOSE: EDUCATION | $7,500 |
ALFRED FRIENDLY FOUNDATION PURPOSE: EDUCATION | $20,000 |
BROOKINGS INSTITUTION PURPOSE: EDUCATION | $25,000 |
ALIGARH MUSLIM UNIVERSITY PURPOSE: EDUCATION | $222,222 |