The Rones Foundation
- Assets
- $1.3m
- Revenue
- $71.1k
- Investments
- $1.2m
- Employees
- 0
- Location
- West Bloomfield, MI
- Founding
- 08/1996
- Data as of
- 12/2022
- EIN
- 38-3306198
Organization Overview
The Rones Foundation is located in West Bloomfield, MI. The organization was established in 1996. 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. Rones 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, Rones Foundation generated $71.1k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $153.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Rones Foundation has awarded 47 individual grants totaling $362,975. 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 Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rona Rones Trustee | 5 | $4,000 | |
Todd I Rones Trustee | 5 | $4,000 | |
Jonathon L Rones Trustee | 5 | $4,000 | |
Jacqueline Taylor-Rones Trustee | 5 | $4,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4,870 |
| Dividends & Interest | $37,184 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $28,587 |
| Capital Gain Net Income | $28,587 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $471 |
| Total Revenue | $71,112 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $247 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $22,084 |
| Total operating and administrative expenses | $24,806 |
| Contributions, gifts, grants paid | $128,475 |
| Total expenses and disbursements | $153,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,120 |
| 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 | $239,091 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,266,426 |
| 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 Rones Foundation has awarded $128,475 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
JEWISH NATIONAL FUND PURPOSE: CARRY OUT PURPOSEOF ORGANIZATION | $29,975 |
JEWISH HOSPICE PURPOSE: CARRY OUT PURPOSEOF ORGANIZATION | $10,000 |
HILLEL DAY SCHOOL OF METRO DETROIT PURPOSE: CARRY OUT PURPOSEOF ORGANIZATION | $60,000 |
PROJECT EXTREME PURPOSE: CARRY OUT PURPOSEOF ORGANIZATION | $10,000 |
MERKAZ TORAH V'CHESED PURPOSE: CARRY OUT PURPOSEOF ORGANIZATION | $5,000 |
YESHIVA BAID HACHINUCH PURPOSE: CARRY OUT PURPOSEOF ORGANIZATION | $2,500 |