Shanks Family Foundation
- Assets
- $189.8k
- Revenue
- $33.2k
- Investments
- $114.8k
- Employees
- 0
- Location
- Albany, NY
- Founding
- 12/2004
- Data as of
- 09/2023
- EIN
- 43-2036817
Organization Overview
Shanks Family Foundation is located in Albany, NY. The organization was established in 2004. 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. Shanks 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 09/2023, Shanks Family Foundation generated $33.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 48.5% each year . All expenses for the organization totaled $30.0k during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eugene B Shanks Jr Trustee | 1 | $0 | |
Susan B Shanks Trustee | 1 | $0 | |
E Baylis Shanks III Trustee | 1 | $0 | |
Virginia L Shanks Trustee | 1 | $0 | |
Daniel H Shanks Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $289 |
| Dividends & Interest | $4,931 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $27,991 |
| Capital Gain Net Income | $27,991 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $33,211 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15 |
| Total operating and administrative expenses | $15 |
| Contributions, gifts, grants paid | $30,000 |
| Total expenses and disbursements | $30,015 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,484 |
| Savings and temporary cash investments | $46,471 |
| 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 | $114,839 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $189,794 |
| 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, Shanks Family Foundation has awarded $30,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN RED CROSS PURPOSE: GENERAL | $10,000 |
COMMUNITY FOUNDATION OF MIDDLE TENNESSEE PURPOSE: GENERAL | $20,000 |