Wetherington Foundation Inc
- Assets
- $1.8m
- Revenue
- $61.2k
- Investments
- $16.5k
- Employees
- 0
- Location
- Sarasota, FL
- Founding
- 09/2003
- Data as of
- 06/2023
- EIN
- 37-1472181
Organization Overview
Wetherington Foundation Inc is located in Sarasota, FL. The organization was established in 2003. According to its NTEE Classification (T30) the organization is classified as: Public 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. Wetherington 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 06/2023, Wetherington Foundation Inc generated $61.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $78.9k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (5.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wetherington Foundation Inc has awarded 45 individual grants totaling $1,077,644. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE DIGNITY AND QUALITY OF LIFE OF INDIVIDUALS AND FAMILIES BY HELPING PEOPLE REACH THEIR FULL POTENTIAL THROUGH EDUCATION, SKILL TRAINING AND THE POWER OF EMPLOYMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS: THE WETHERINGTON FOUNDATION GAVE OUT 5 GRANTS TOTALING $60,236 TO VARIOUS NONPROFIT ORGANIZATIONS. THESE GRANTS WERE GIVEN FOR GENERAL SUPPORT AND PROGRAM SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sophia Larusso Director | Trustee | 1 | $0 |
Kirsten Russell Director | Trustee | 1 | $0 |
Terri Vitale Director | Trustee | 1 | $0 |
Leland D Wetherington Chairman | OfficerTrustee | 1 | $0 |
Frank Strelec Vice Chair | OfficerTrustee | 1 | $0 |
Caroline Wetherington Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,000 |
| Total Program Service Revenue | $0 |
| Investment income | $45,388 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,844 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,232 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,236 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $17,196 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $133 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,307 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $78,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,799,249 |
| Investments—other securities | $16,464 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,815,713 |
| Accounts payable and accrued expenses | $4,385 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,385 |
| Net assets without donor restrictions | $1,811,328 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,815,713 |
Grants Awarded
Over the last fiscal year, Wetherington Foundation Inc has awarded $60,236 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS & GIRLS CLUBS OF SARASOTA AND DESOTO COUNTIES PURPOSE: PROGRAM SUPPORT | $12,500 |
CROSSINGS ADDICTION SERVICES INC AKA THE CROSSINGS SERVICES PURPOSE: PROGRAM SUPPORT | $6,000 |
BOYS & GIRLS CLUBS OF SARASOTA COUNTY FOUNDATION INC PURPOSE: PROGRAM SUPPORT | $5,000 |
SISTERHOOD FOR GOOD INC PURPOSE: PROGRAM SUPPORT | $5,000 |
KNIGHTS OF COLUMBUS CHARITIES INC PURPOSE: CAPITAL PURCHASES | $26,736 |
COMMUNITY FOUNDATION OF SARASOTA COUNTY INC PURPOSE: PROGRAM SUPPORT | $5,000 |