Charles And Barbara Close Foundation
- Assets
- $4.7m
- Revenue
- $810.0k
- Investments
- $4.7m
- Employees
- 0
- Location
- Radnor, PA
- Founding
- 08/2010
- Data as of
- 12/2022
- EIN
- 27-3017122
Organization Overview
Charles And Barbara Close Foundation is located in Radnor, PA. The organization was established in 2010. 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. Charles And Barbara Close 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, Charles And Barbara Close Foundation generated $810.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (14.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Charles And Barbara Close Foundation has awarded 26 individual grants totaling $9,400,667. 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 |
|---|---|---|---|
Frederick Padden Trustee | 2 | $22,238 | |
William Mckernan Trustee | 2 | $22,238 | |
Mike Doyle Trustee | 2 | $22,238 | |
Jim Berneski Trustee | 2 | $22,238 | |
Name Not Listed Trustee | 5 | $44,441 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $456 |
| Dividends & Interest | $174,244 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $635,286 |
| Capital Gain Net Income | $635,286 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $21 |
| Total Revenue | $810,007 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $133,393 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,824 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $140,217 |
| Contributions, gifts, grants paid | $1,088,000 |
| Total expenses and disbursements | $1,228,217 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $69,667 |
| 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 | $194,545 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,734,722 |
| 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, Charles And Barbara Close Foundation has awarded $1,088,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
DREXEL UNIVERSITY - DAVID O'BRIEN PURPOSE: ENTREPRENEURSHIP IN | $280,000 |
FRIENDS OF SAINT MALACHY PURPOSE: UNRESTRICTED | $10,000 |
DREXEL UNIVERSITY PURPOSE: CLOSE FOUNDATION DESIGNATED | $500,000 |
DREXEL UNIVERSITY PURPOSE: CLOSE FOUNDATION FUND | $298,000 |