Richard W Erickson Foundation
- Assets
- $11.3m
- Revenue
- $923.3k
- Investments
- $3.7m
- Employees
- 0
- Location
- Kaysville, UT
- Founding
- 12/2000
- Data as of
- 12/2022
- EIN
- 87-0644559
Organization Overview
Richard W Erickson Foundation is located in Kaysville, UT. The organization was established in 2000. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richard W Erickson Foundation 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, Richard W Erickson Foundation generated $923.3k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $704.8k 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
MUSEUM ASSET ACQUISTION AND MAINTENANCE
EDUCATIONAL PROGRAMS
LOCAL CHARITABLE GIVING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Baker Chairman | 20 | $80,000 | |
Mark Duffin Trustee | 7 | $5,000 | |
Robert Muir Trustee | 7 | $20,000 | |
Richard Thomas Trustee | 7 | $5,000 | |
Matt Binyon Trustee | 7 | $20,000 | |
Pam Williams Secretary | 25 | $20,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $282,386 |
| Interest on Savings | $0 |
| Dividends & Interest | $89,581 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $515,000 |
| Capital Gain Net Income | $515,000 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $36,316 |
| Total Revenue | $923,283 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $189,451 |
| Other employee salaries and wages | $32,740 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,705 |
| Depreciation | $105,342 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $5,522 |
| Printing and publications | $956 |
| Other expenses | $222,085 |
| Total operating and administrative expenses | $691,790 |
| Contributions, gifts, grants paid | $13,025 |
| Total expenses and disbursements | $704,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $267,509 |
| 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 | $5,661,349 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,688,235 |
| Other assets | $136 |
| Total assets | $11,297,325 |
| 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 | $608 |
| Total liabilities | $608 |
Grants Awarded
Over the last fiscal year, Richard W Erickson Foundation has awarded $13,025 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
VIBRANT AMERICA INC PURPOSE: GENERAL FINANCIAL SUPPORT | $2,500 |
GART FOR VETS - TUNNEL TO TOWERS FOUNDATION PURPOSE: GENERAL FINANCIAL SUPPORT | $500 |
WASATCH COUNTY PURPOSE: GENERAL FINANCIAL SUPPORT | $4,000 |
CAF UTAH WINGNUTS PURPOSE: GENERAL FINANCIAL SUPPORT | $2,500 |
HEBER VALLEY RAILROAD PURPOSE: GENERAL FINANCIAL SUPPORT | $2,500 |
RONALD MCDONALD HOUSE PURPOSE: GENERAL FINANCIAL SUPPORT | $1,000 |