Queally Foundation Inc
- Assets
- $30.3m
- Revenue
- $8.5m
- Investments
- $20.7m
- Employees
- 0
- Location
- Palm Beach, FL
- Founding
- 07/2005
- Data as of
- 12/2023
- EIN
- 77-0607990
Organization Overview
Queally Foundation Inc is located in Palm Beach, FL. The organization was established in 2005. 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. Queally 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, Queally Foundation Inc generated $8.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $3.7m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Queally Foundation Inc has awarded 139 individual grants totaling $21,811,556. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne-Marie Queally Vice President/ Director | 1 | $0 | |
Paul B Queally President/ Director/ Secre | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $18,400 |
| Interest on Savings | $0 |
| Dividends & Interest | $308,490 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $7,344,156 |
| Capital Gain Net Income | $10,837,516 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $829,864 |
| Total Revenue | $8,500,910 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $301,574 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $362,236 |
| Total operating and administrative expenses | $785,527 |
| Contributions, gifts, grants paid | $2,956,779 |
| Total expenses and disbursements | $3,742,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,635,199 |
| 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 | $11,398,886 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $30,296,361 |
| 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, Queally Foundation Inc has awarded $2,956,779 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
ALBERTUS MAGNUS COLLEGE PURPOSE: GENERAL SUPPORT | $16,000 |
CATHOLIC ACADEMY OF BRIDGEPORT PURPOSE: GENERAL SUPPORT | $321,285 |
FRIENDS OF SCHOOL IN THE SQUARE INC PURPOSE: GENERAL SUPPORT | $55,000 |
HOPE RURAL SCHOOL PURPOSE: GENERAL SUPPORT | $55,894 |
JDRF PURPOSE: GENERAL SUPPORT | $250,000 |
KING SCHOOL PURPOSE: GENERAL SUPPORT | $49,600 |