Welty Family Foundation
- Assets
- $9.8m
- Revenue
- $1.0m
- Investments
- $9.7m
- Employees
- 0
- Location
- Akron, OH
- Founding
- 03/2000
- Data as of
- 12/2021
- EIN
- 34-1908053
Organization Overview
Welty Family Foundation is located in Akron, OH. The organization was established in 2000. 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. Welty Family 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 12/2021, Welty Family Foundation generated $1.0m 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 (15.5%) each year. All expenses for the organization totaled $503.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Welty Family Foundation has awarded 515 individual grants totaling $2,651,650. 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 |
|---|---|---|---|
Chad C Welty Trustee | 0 | $0 | |
Jerry H Welty President | 0 | $0 | |
Emily C Welty Vice President | 0 | $0 | |
Richard C Fedorovich Treasurer | 0 | $0 | |
Ronald S Kopp Trustee | 0 | $0 | |
Monica Welty Brown Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $57,250 |
| Interest on Savings | $23 |
| Dividends & Interest | $167,970 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $823,671 |
| Capital Gain Net Income | $823,671 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,048,914 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,976 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $47,602 |
| Total operating and administrative expenses | $55,078 |
| Contributions, gifts, grants paid | $448,000 |
| Total expenses and disbursements | $503,078 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,637 |
| 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 | $9,846,394 |
| 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, Welty Family Foundation has awarded $448,000 in support to 73 organizations.
| Grant Recipient | Amount |
|---|---|
WELL AKRON COMMUNITY PROPERTY PURPOSE: COMMUNITY | $15,000 |
Akron, OH PURPOSE: COMMUNITY | $15,000 |
Cleveland, OH PURPOSE: COMMUNITY | $12,500 |
BROKEN CHAINS JAIL & PRISON MINISTRY PURPOSE: COMMUNITY | $12,500 |
Akron, OH PURPOSE: COMMUNITY | $10,000 |
Akron, OH PURPOSE: COMMUNITY | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Van Andel Institute Grand Rapids, MI | $1,815,971,878 | $111,524,637 |
William Davidson Foundation Birmingham, MI | $1,107,938,800 | $127,279,050 |
Ronda E Stryker & William D Johnston Foundation Kalamazoo, MI | $63,637,902 | $79,561,320 |
Gilbert Family Foundation Detroit, MI | $122,833,560 | $20,538,766 |
The Wexner Family Charitable Fund New Albany, OH | $184,942,197 | $254,449,818 |
Maguire Foundation West Conshohocken, PA | $0 | $10,846,953 |
Mabel Pew Myrin Trust Philadelphia, PA | $417,886,148 | $39,075,922 |
Neubauer Family Foundation Philadelphia, PA | $348,008,962 | $28,614,405 |
Nina Mason Pulliam Charitable Tr Indianapolis, IN | $513,484,211 | $27,103,020 |
Quantitative Foundation Philadelphia, PA | $101,541,098 | -$10,401,387 |
Fifth Third Union Trust Co Foundation Cincinnati, OH | $28,852,332 | $17,459,816 |
J N Pew Jr Charitable Trust Philadelphia, PA | $309,649,040 | $25,152,087 |