Idol Family Foundation
- Assets
- $18.2m
- Revenue
- $1.3m
- Investments
- $12.6m
- Employees
- 0
- Location
- New York, NY
- Founding
- 01/2013
- Data as of
- 12/2023
- EIN
- 45-5279094
Organization Overview
Idol Family Foundation is located in New York, NY. The organization was established in 2013. 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. Idol 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 12/2023, Idol Family Foundation generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Idol Family Foundation has awarded 37 individual grants totaling $3,151,600. 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 |
|---|---|---|---|
Alexandra Idol Director And President | 2 | $0 | |
John Idol Chairman Of The Board | 1 | $0 | |
Christina Idol Davie Director And President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $77,228 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $875,009 |
| Capital Gain Net Income | $875,009 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $324,720 |
| Total Revenue | $1,276,957 |
| 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 | $51,944 |
| Total operating and administrative expenses | $180,957 |
| Contributions, gifts, grants paid | $1,462,600 |
| Total expenses and disbursements | $1,643,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $261,651 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $5,340,503 |
| Total assets | $18,207,197 |
| 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 | $13,658 |
| Total liabilities | $13,658 |
Grants Awarded
Over the last fiscal year, Idol Family Foundation has awarded $1,462,600 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
ASPCA PURPOSE: GENERAL SUPPORT | $2,500 |
CROSSROADS CLUB INC PURPOSE: GENERAL SUPPORT | $32,400 |
GEORGETOWN UNIVERSITY PURPOSE: GENERAL SUPPORT | $685,000 |
GOD'S LOVE WE DELIVER PURPOSE: GENERAL SUPPORT | $55,000 |
GREATER ANTIOCH MISSIONARY BAPTIST CHURCH PURPOSE: GENERAL SUPPORT | $1,000 |
HRJ CHARITIES PURPOSE: GENERAL SUPPORT | $5,000 |