Rice Foundation
- Assets
- $70.3m
- Revenue
- $6.9m
- Investments
- $60.0m
- Employees
- 0
- Location
- Skokie, IL
- Founding
- 05/1949
- Data as of
- 12/2021
- EIN
- 36-6043160
Organization Overview
Rice Foundation is located in Skokie, IL. The organization was established in 1949. 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. Rice 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, Rice Foundation generated $6.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $5.6m during the year ending 12/2021. While expenses have increased by 2.4% per year over the past 7 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 2016, Rice Foundation has awarded 473 individual grants totaling $27,850,100. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
NO DIRECT CHARITABLE ACTIVITY.ACTIVITIES WERE LIMITED TO MAKING GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Nolan President | 60 | $267,264 | |
Christine Nolan Vice President | 40 | $84,888 | |
Richard T Schroeder Treasurer | 0 | $0 | |
Barbara Whitney Carr Director | 0 | $0 | |
Robin Nolan Director | 0 | $0 | |
Cori Nolan Vice President | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Burton Weitzman Cpa | 12/30/20 | $52,392 |
Jp Morgan Brokerage Services | 12/30/20 | $332,578 |
Burton Weitzman Cpa | 12/30/20 | $52,392 |
Jp Morgan Brokerage Services | 12/30/20 | $332,578 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $22,366 |
| Dividends & Interest | $1,803,457 |
| Net Rental Income | $109,595 |
| Net Gain on Sale of Assets | $3,821,264 |
| Capital Gain Net Income | $3,821,264 |
| Net ST Capital Gain | $145,123 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,003,950 |
| Total Revenue | $6,874,210 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $439,623 |
| Other employee salaries and wages | $40,082 |
| Pension plans, employee benefits | $134,984 |
| Interest | $0 |
| Taxes | $68,287 |
| Depreciation | $75,464 |
| Occupancy | $53,970 |
| Travel, conferences, and meetings | $593 |
| Printing and publications | $0 |
| Other expenses | $118,308 |
| Total operating and administrative expenses | $1,411,623 |
| Contributions, gifts, grants paid | $4,159,300 |
| Total expenses and disbursements | $5,570,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $445,053 |
| Savings and temporary cash investments | $1,117,327 |
| 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 | $7,202,667 |
| Investments—mortgage loans | $0 |
| Investments—other | $6,332,541 |
| Net Land, buildings, and equipment | $396,276 |
| Other assets | $1,112,085 |
| Total assets | $70,296,665 |
| 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, Rice Foundation has awarded $6,159,300 in support to 69 organizations.
| Grant Recipient | Amount |
|---|---|
FIELD MUSEUM PURPOSE: CHARITABLE | $1,500,000 |
FIELD MUSEUM PURPOSE: CHARITABLE | $1,000,000 |
CHICAGO BOTANIC GARDEN PURPOSE: CHARITABLE | $875,000 |
Evanston, IL PURPOSE: CHARITABLE | $500,000 |
Harlingen, TX PURPOSE: CHARITABLE | $280,000 |
NORTH SHORE CENTER THE PERFORMING A PURPOSE: CHARITABLE | $267,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Roger And Susan Stone Family Foundation Northbrook, IL | $23,476,805 | $8,385,528 |
Galashiels Fund Ltd Northbrook, IL | $154,593,436 | $48,314,988 |