Wedge Foundation Inc
- Assets
- $6.2m
- Revenue
- $1.7m
- Investments
- $3.6m
- Employees
- 0
- Location
- Louisville, KY
- Founding
- Data as of
- 12/2021
- EIN
- 84-5012797
Organization Overview
Wedge Foundation Inc is located in Louisville, KY. 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. Wedge 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 12/2021, Wedge Foundation Inc generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (43.4%) each year. All expenses for the organization totaled $724.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Wedge Foundation Inc has awarded 12 individual grants totaling $379,250. 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 |
|---|---|---|---|
Paul Wedge Director | 1 | $60,000 | |
Jody Wedge Director | 1 | $30,492 | |
Lilly Wedge Director | 1 | $2,000 | |
Baylor Wedge Director | 1 | $2,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $83 |
| Dividends & Interest | $107,630 |
| Net Rental Income | -$15,192 |
| Net Gain on Sale of Assets | $1,459,873 |
| Capital Gain Net Income | $1,459,873 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$8,969 |
| Total Revenue | $1,725,342 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $204,490 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $7,694 |
| Taxes | $19,877 |
| Depreciation | $43,870 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $135,304 |
| Total operating and administrative expenses | $411,235 |
| Contributions, gifts, grants paid | $313,250 |
| Total expenses and disbursements | $724,485 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,823 |
| Savings and temporary cash investments | $0 |
| 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 | $39,895 |
| Net Land, buildings, and equipment | $2,588,308 |
| Other assets | $0 |
| Total assets | $6,211,322 |
| 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 | $537,091 |
| Total liabilities | $537,091 |
Grants Awarded
Over the last fiscal year, Wedge Foundation Inc has awarded $313,250 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF KENTUCKY PURPOSE: FINANCIAL SUPPORT | $240,000 |
St Simons Island, GA PURPOSE: FINANCIAL SUPPORT | $25,000 |
UNIVERSITY OF ALABAMA PURPOSE: FINANCIAL SUPPORT | $25,000 |
UNIVERSITY OF GEORGIA PURPOSE: FINANCIAL SUPPORT | $14,000 |
ST XAVIER HIGH SCHOOL PURPOSE: FINANCIAL SUPPORT | $5,000 |
Bethesda, MD PURPOSE: FINANCIAL SUPPORT | $1,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pyramid Peak Foundation Memphis, TN | $230,284,852 | $119,724,559 |
Pritzker Family Foundation Chicago, IL | $156,116,781 | $25,309,600 |
The Wexner Family Charitable Fund New Albany, OH | $184,942,197 | $254,449,818 |
The Rosser Foundation A Pure Charitable Trust And Public Charit Hampton, VA | $12,195,900 | $36,359,396 |
James S Mcdonnell Foundation St Louis, MO | $496,119,714 | $80,243,658 |
Patterson Family Foundation Kansas City, MO | $1,526,002,008 | $1,174,628,172 |
Poplar Foundation Memphis, TN | $149,801,224 | $18,419,294 |
Paul M Angell Family Foundation Chicago, IL | $1,816,327 | $24,997,411 |
Nina Mason Pulliam Charitable Tr Indianapolis, IN | $513,484,211 | $27,103,020 |
Fifth Third Union Trust Co Foundation Cincinnati, OH | $28,852,332 | $17,459,816 |
Plough Foundation Memphis, TN | $29,124,366 | $7,604,937 |
Anthony Pritzker Fam Foundation Chicago, IL | $0 | $37,184,888 |