Lloyd A Richardson Foundation Inc
- Assets
- $1.5m
- Revenue
- $34.7k
- Investments
- $1.4m
- Employees
- 0
- Location
- Salisbury, MD
- Founding
- 11/1958
- Data as of
- 12/2022
- EIN
- 52-6054610
Organization Overview
Lloyd A Richardson Foundation Inc is located in Salisbury, MD. The organization was established in 1958. 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. Lloyd A Richardson 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 12/2022, Lloyd A Richardson Foundation Inc generated $34.7k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $93.8k during the year ending 12/2022. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LLOYD A. RICHARDSON SCHOLARSHIP COMMITTEES PURPOSE IS TO REVIEW QUALIFIED APPLICANTS AND TO AWARD COLLEGE SCHOLARSHIPS TO NEEDY STUDENTS IN THE SALISBURY, MD AREA
AN EXAMPLE OF THE SCHOLARSHIP APPLICATION IS ATTACHED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Furman Richardson President | 5 | $1,333 | |
Jill Richardson Paquette Vice President | 5 | $1,334 | |
Don E Richardson Sec/tres | 10 | $1,333 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $43 |
| Dividends & Interest | $34,617 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $8,921 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $34,660 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $4,000 |
| 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 | $0 |
| Total operating and administrative expenses | $22,765 |
| Contributions, gifts, grants paid | $71,000 |
| Total expenses and disbursements | $93,765 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130 |
| Savings and temporary cash investments | $34,143 |
| 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 | $0 |
| Total assets | $1,479,930 |
| 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, Lloyd A Richardson Foundation Inc has awarded $71,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THE LLOYD A RICHARDSON SCHOLARSHIP PURPOSE: EDUCATIONAL-USED FOR SCHOLARSHIPS | $69,500 |
DIAKONIA PURPOSE: HOMELESS SUPPORT | $500 |
VILLAGE OF HOPE PURPOSE: HOMELESS SUPPORT | $1,000 |