Will J Reid Foundation
- Assets
- $11.0m
- Revenue
- $287.0k
- Investments
- $7.2m
- Employees
- 0
- Location
- Long Beach, CA
- Founding
- 02/1957
- Data as of
- 12/2023
- EIN
- 95-6041915
Organization Overview
Will J Reid Foundation is located in Long Beach, CA. The organization was established in 1957. 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. Will J Reid 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 12/2023, Will J Reid Foundation generated $287.0k 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 (6.4%) each year. All expenses for the organization totaled $939.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Will J Reid Foundation has awarded 459 individual grants totaling $6,520,694. 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 |
|---|---|---|---|
E M Westbrook President | 20 | $0 | |
C J Moore Vice President | 4 | $0 | |
C G Burgess Vice President | 4 | $0 | |
W J Hancock Chairman | 4 | $0 | |
W R Moore Vice President | 4 | $0 | |
H M Westbrook Secretary | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $27,893 |
| Dividends & Interest | $247,011 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,797 |
| Capital Gain Net Income | $1,797 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $10,326 |
| Total Revenue | $287,027 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | -$5,732 |
| Depreciation | $1,873 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $14,344 |
| Printing and publications | $0 |
| Other expenses | $748 |
| Total operating and administrative expenses | $15,583 |
| Contributions, gifts, grants paid | $924,021 |
| Total expenses and disbursements | $939,604 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,121,837 |
| Savings and temporary cash investments | $1,707,000 |
| 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 | $6,559,944 |
| Net Land, buildings, and equipment | $2,802 |
| Other assets | $0 |
| Total assets | $11,009,275 |
| 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 | -$14 |
| Total liabilities | -$14 |
Grants Awarded
Over the last fiscal year, Will J Reid Foundation has awarded $924,021 in support to 61 organizations.
| Grant Recipient | Amount |
|---|---|
ALLIED MEDIA PROJECTS PURPOSE: DECOLONIZING WEALTH PROJECT | $20,000 |
AK SMILEY LIBRARY PURPOSE: 4TH GRADE TOURS | $2,000 |
ALGALITA MARINE RESEARCH AND EDUCAT PURPOSE: ENDOWMENT & OPERATIONS | $20,000 |
BERKELEY STUDENT COOPERATIVE PURPOSE: GENERAL OPERATIONS | $8,000 |
AMERICAN INDIAN COLLEGE FUND PURPOSE: ACCESS & SUPPORT FOR HIGHER EDUCATION | $8,000 |
AUDUBON CANYON RANCH PURPOSE: FIRE FORWARD PROGRAM | $15,000 |