Paul E And Elaine C Drack Family Foundation Inc
- Assets
- $177.7k
- Revenue
- $6.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Fairfield, OH
- Founding
- 07/2017
- Data as of
- 12/2023
- EIN
- 82-1020203
Organization Overview
Paul E And Elaine C Drack Family Foundation Inc is located in Fairfield, OH. The organization was established in 2017. 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. Paul E And Elaine C Drack Family 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, Paul E And Elaine C Drack Family Foundation Inc generated $6.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (22.2%) each year. All expenses for the organization totaled $39.7k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Paul E And Elaine C Drack Family Foundation Inc has awarded 54 individual grants totaling $100,450. 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
THE FOUNDATION IS A NONOPERATING GRANT MAKING FOUNDATION. IT MAKES GIFTS TO QUALIFYING CHARITABLE ORGANIZATIONS. THE FOUNDATION RECEIVED ITS TAX-EXEMPT DETERMINATION LETTER FROM THE IRS ON 12/7/18; THEREFORE ITS DIRECT DIRECT CHARITABLE ACTIVITIES WERE LIMITED TO THE AUTHORIZATION OF CHARITABLE DISTRIBUTIONS LISTED IN PART XV.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Gaughan Director | 0.1 | $0 | |
Elaine Drack Director | 0.1 | $0 | |
Karen Sullivan Director | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,507 |
| Dividends & Interest | $2,708 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,215 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| 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 | $1,200 |
| Contributions, gifts, grants paid | $38,450 |
| Total expenses and disbursements | $39,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $177,744 |
| 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 | $177,744 |
| 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, Paul E And Elaine C Drack Family Foundation Inc has awarded $38,450 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY PURPOSE: UNRESTRICTED | $6,000 |
AMERICAN HEART ASSOCIATION PURPOSE: UNRESTRICTED | $6,000 |
ANIMAL FRIENDS HUMANE SOCIETY PURPOSE: UNRESTRICTED | $2,000 |
CINCINNATI CHILDRENS HOSPITAL PURPOSE: UNRESTRICTED | $3,000 |
RONALD MCDONALD HOUSE PURPOSE: UNRESTRICTED | $1,250 |
ST JUDE CHILDRENS RESEARCH HOSPITAL PURPOSE: UNRESTRICTED | $3,000 |