Philip E And Carole R Ratcliffe Foundation Inc
- Assets
- $68.7m
- Revenue
- $3.1m
- Investments
- $47.4m
- Employees
- 0
- Location
- Annapolis, MD
- Founding
- 02/2003
- Data as of
- 12/2023
- EIN
- 82-0568453
Organization Overview
Philip E And Carole R Ratcliffe Foundation Inc is located in Annapolis, MD. The organization was established in 2003. 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. Philip E And Carole R Ratcliffe 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, Philip E And Carole R Ratcliffe Foundation Inc generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 22.5% each year . All expenses for the organization totaled $5.3m during the year ending 12/2023. While expenses have increased by 11.7% per year over the past 8 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.
Since 2016, Philip E And Carole R Ratcliffe Foundation Inc has awarded 255 individual grants totaling $96,981,423. 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 |
|---|---|---|---|
James D Wright President | 5 | $75,000 | |
Tina Davenport Trustee | 5 | $60,000 | |
James A Clauson Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley | 12/30/23 | $116,289 |
Goldman Sacs | 12/30/23 | $63,991 |
Merrill Lynch | 12/30/23 | $88,890 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $421,148 |
| Dividends & Interest | $1,009,433 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,630,043 |
| Capital Gain Net Income | $1,630,043 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $69,481 |
| Total Revenue | $3,130,105 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $135,000 |
| Other employee salaries and wages | $213,273 |
| Pension plans, employee benefits | $41,426 |
| Interest | $0 |
| Taxes | $60,852 |
| Depreciation | $1,409 |
| Occupancy | $29,911 |
| Travel, conferences, and meetings | $21,979 |
| Printing and publications | $0 |
| Other expenses | $68,242 |
| Total operating and administrative expenses | $925,551 |
| Contributions, gifts, grants paid | $4,385,491 |
| Total expenses and disbursements | $5,311,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,939,982 |
| 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 | $22,276 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,205 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,355,751 |
| Net Land, buildings, and equipment | $19,389,893 |
| Other assets | $4,765 |
| Total assets | $68,749,103 |
| Accounts payable and accrued expenses | $4,373 |
| Grants payable | $8,770,547 |
| 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 | $8,774,920 |
Grants Awarded
Over the last fiscal year, Philip E And Carole R Ratcliffe Foundation Inc has awarded $10,350,264 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
AACC FOUNDATION - (ESI) 2022 PURPOSE: UNRESTRICTED USE BY RECIPIENT | $300,000 |
BALDWIN WALLACE UNIVERSITY PURPOSE: UNRESTRICTED USE BY RECIPIENT | $100,000 |
CCBC - 2022 PURPOSE: UNRESTRICTED USE BY RECIPIENT | $137,500 |
CHILDREN'S HOME-'20 GRANT CORR'N PURPOSE: UNRESTRICTED USE BY RECIPIENT | $70,000 |
EASTORN SHORE CC VA PURPOSE: UNRESTRICTED USE BY RECIPIENT | $152,740 |
FERRY COVE SHELLFISH GRANT 2023 PURPOSE: UNRESTRICTED USE BY RECIPIENT | $825,000 |