The Richard Eaton Foundation Inc
- Assets
- $18.4m
- Revenue
- $1.2m
- Investments
- $17.1m
- Employees
- 0
- Location
- Gaithersburg, MD
- Founding
- 10/1970
- Data as of
- 12/2023
- EIN
- 52-6040787
Organization Overview
The Richard Eaton Foundation Inc is located in Gaithersburg, MD. The organization was established in 1970. 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. Richard Eaton 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 12/2023, Richard Eaton Foundation Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 2.5% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neil E Johnson Trustee | 0 | $15,000 | |
Gerald J Hroblak Trustee | 0 | $30,000 | |
Grover B Russell Trustee | 0 | $15,000 | |
Kevin G Hroblak Trustee | 0 | $15,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $33,173 |
| Dividends & Interest | $402,426 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $813,995 |
| Capital Gain Net Income | $813,995 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,249,594 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $75,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,672 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,557 |
| Total operating and administrative expenses | $231,136 |
| Contributions, gifts, grants paid | $845,000 |
| Total expenses and disbursements | $1,076,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,721 |
| Savings and temporary cash investments | $1,271,271 |
| 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 | $92,315 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $19,861 |
| Total assets | $18,446,850 |
| 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 |