The Richard And Barbara Whitcomb Foundation
- Assets
- $1.1m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 1
- Location
- Holyoke, MA
- Founding
- 04/2011
- Data as of
- 12/2022
- EIN
- 27-3420226
Organization Overview
The Richard And Barbara Whitcomb Foundation is located in Holyoke, MA. The organization was established in 2011. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, 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. Richard And Barbara Whitcomb 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, Richard And Barbara Whitcomb Foundation generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $896.2k during the year ending 12/2022. While expenses have increased by 8.5% per year over the past 8 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.
Since 2014, Richard And Barbara Whitcomb Foundation has awarded 409 individual grants totaling $5,391,752. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION OPERATES EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, SCIENTIFIC AND LITERARY PURPOSES, WHICH WILL BE ACHIEVED BY MAKING GRANTS TO INDIVIDUALS AND ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANT TO THE GEORGE WASHINGTON CARVER COMMUNITY CENTER - HELPED SUPPORT EDUCATIONAL, SOCIAL AND RECREATIONAL PROGRAMS THAT ENROLL APPROXIMATELY 4,000 INDIVIDUALS PER YEAR
GRANT TO ST LUKE'S SCHOOL - HELPED SUPPORT EDUCATION OF APPROXIMATELY 500 STUDENTS.
GRANT TO THE NEW CANAAN COMMUNITY FOUNDATION - HELPED SUPPORT PHILANTHROPIC AND EDUCATIONAL SERVICES TO PEOPLE IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea L Whitcomb Director, President, Secre | 30 | $75,000 | |
Kevin Ashley Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,000,000 |
| Interest on Savings | $839 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,000,839 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $75,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,916 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,840 |
| Total operating and administrative expenses | $90,906 |
| Contributions, gifts, grants paid | $805,250 |
| Total expenses and disbursements | $896,156 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,085,737 |
| Savings and temporary cash investments | $0 |
| 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 | $1,085,737 |
| 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, The Richard And Barbara Whitcomb Foundation has awarded $805,250 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
CARVER CENTER PURPOSE: GENERAL SUPPORT | $228,500 |
SHRINERS HOSPITALS FOR CHILD PURPOSE: GENERAL SUPPORT | $50,000 |
Holyoke, MA PURPOSE: GENERAL SUPPORT | $50,000 |
Norwalk, CT PURPOSE: GENERAL SUPPORT | $40,000 |
THE JIMMY MCGRATH FOUNDATION PURPOSE: GENERAL SUPPORT | $25,000 |
Norwalk, CT PURPOSE: GENERAL SUPPORT | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Richard And Barbara Whitcomb Foundation has recieved totaling $1,200,000.
| Awarding Organization | Amount |
|---|---|
Dalio Family Fund Inc Westport, CT PURPOSE: TO SUPPORT GENERAL OPERATIONS | $1,000,000 |
Dalio Family Fund Inc Westport, CT PURPOSE: TO SUPPORT GENERAL OPERATIONS | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Way Of New York City New York, NY | $40,512,646 | $61,047,819 |
United Way Of Massachusetts Bay Inc Boston, MA | $61,459,192 | $54,248,060 |
Childrens Rescue Fund Bronx, NY | $24,029,170 | $53,044,030 |
United Way Of Greater Rochester And The Finger Lakes Inc Rochester, NY | $189,540,443 | $45,112,374 |
United Way Of Connecticut Rocky Hill, CT | $9,253,569 | $38,307,240 |
Foundation For Jewish Philanthropies Getzville, NY | $249,898,212 | $25,804,353 |
United Way Of Rhode Island Inc Providence, RI | $29,334,248 | $23,014,896 |
Syracuse Community Health Center Inc Syracuse, NY | $18,630,162 | $24,795,455 |
Lighthouse Guild International Inc New York, NY | $511,507,297 | $10,629,551 |
North Star Fund Inc New York, NY | $26,831,975 | $32,265,698 |
Granite United Way Manchester, NH | $10,904,464 | $19,030,593 |
United Way Of Buffalo And Erie County Buffalo, NY | $31,555,637 | $14,020,396 |