Margaret Cole Richards Charitable Foundation Inc
- Assets
- $1.4m
- Revenue
- $66.0k
- Investments
- $1.3m
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 06/1999
- Data as of
- 12/2023
- EIN
- 35-2063157
Organization Overview
Margaret Cole Richards Charitable Foundation Inc is located in Indianapolis, IN. The organization was established in 1999. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Margaret Cole Richards Charitable Foundation Inc 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 12/2023, Margaret Cole Richards Charitable Foundation Inc generated $66.0k 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 (7.5%) each year. All expenses for the organization totaled $185.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Margaret Cole Richards Charitable Foundation Inc has awarded 131 individual grants totaling $787,460. 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 |
|---|---|---|---|
Margaret C Russell President & Treasurer | 8 | $0 | |
Mary K Schnitz Board Member | 1 | $0 | |
Marjorie Wilkerson Exec Dir & Secy | 30 | $32,400 | |
Stephen L Russell Board Member | 8 | $0 | |
Pam Smith Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $42,958 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $23,032 |
| Capital Gain Net Income | $23,032 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $65,990 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $32,400 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,164 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,605 |
| Total operating and administrative expenses | $54,689 |
| Contributions, gifts, grants paid | $130,500 |
| Total expenses and disbursements | $185,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $116,697 |
| 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 | $1,098,071 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,430,999 |
| 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 | $122 |
| Total liabilities | $122 |
Grants Awarded
Over the last fiscal year, Margaret Cole Richards Charitable Foundation Inc has awarded $130,500 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
ASSISTANCE LEAGUE OF INDIANAPOLIS PURPOSE: TO FUND OPERATIONS | $20,000 |
BAY PRESBYTERIAN CHURCH PURPOSE: TO FUND OPERATIONS | $6,000 |
ALZHEIMERS ASSOCIATION PURPOSE: TO FUND OPERATIONS | $5,000 |
GEIST CHRISTIAN CHURCH PURPOSE: TO FUND OPERATIONS | $12,000 |
AMERICAN RED CROSS PURPOSE: TO FUND OPERATIONS | $7,000 |
HVAF OF INDIANA INC PURPOSE: TO FUND OPERATIONS | $10,000 |