Frank And Betty Wright Foundation Inc
- Assets
- $14.2m
- Revenue
- $861.1k
- Investments
- $13.4m
- Employees
- 0
- Location
- Potomac, MD
- Founding
- 10/1975
- Data as of
- 08/2021
- EIN
- 52-1041780
Organization Overview
Frank And Betty Wright Foundation Inc is located in Potomac, MD. The organization was established in 1975. 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. Frank And Betty Wright 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 08/2021, Frank And Betty Wright Foundation Inc generated $861.1k in total revenue. All expenses for the organization totaled $1.1m during the year ending 08/2021.
Since 2020, Frank And Betty Wright Foundation Inc has awarded 40 individual grants totaling $2,554,612. 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
PROMOTING LITERACY THROUGH TUTORING AND MENTORING OF ELEMENTARY SCOOL STUDENTS AND OUTREACH TO THE ALEXANDRIA, VA COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad L Mendelson Treasurer | 8 | $20,000 | |
James Epstein President | 8 | $20,000 | |
Juanita Illera Secretary | 1 | $2,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mendelson & Mendelson Cpa's A Pc | 8/30/21 | $110,531 |
Usb Financial Services | 8/30/21 | $60,930 |
Jre Advisory Llc | 8/30/21 | $72,748 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $20 |
| Dividends & Interest | $272,179 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $540,078 |
| Capital Gain Net Income | $540,078 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $48,789 |
| Total Revenue | $861,066 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $42,500 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $3,597 |
| Interest | $0 |
| Taxes | $344 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,048 |
| Total operating and administrative expenses | $337,623 |
| Contributions, gifts, grants paid | $754,612 |
| Total expenses and disbursements | $1,092,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $816,938 |
| 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 | $1,296,731 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $14,171,430 |
| 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, Frank And Betty Wright Foundation Inc has awarded $754,612 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Alexandria, VA PURPOSE: LITERACY TUTORING/MENTORING PROGRAM | $334,768 |
Alexandria, VA PURPOSE: COORDINATOR SALARY | $120,833 |
Alexandria, VA PURPOSE: 2017 REPORT UPDATE | $60,000 |
Alexandria, VA PURPOSE: FUNDER AFFINITY GROUP PHASE II | $51,400 |
Alexandria, VA PURPOSE: SEL INITIATIVE WORKING CAPITAL | $50,000 |
Alexandria, VA PURPOSE: FUNDERS AFFINITY GROUP PHASE I | $35,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Cognizant Us Foundation Washington, DC | $53,711,221 | $1,081,755 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
E Rhodes And Leona B Carpenter Foundation Radnor, PA | $250,926,779 | $43,460,229 |
Kahlert Foundation Inc Sykesville, MD | $93,179,960 | $19,162,440 |
Posner Foundation Of Pittsburgh Pittsburgh, PA | $0 | $20,216,193 |