Redco Foundation Inc
- Assets
- $4.8m
- Revenue
- $364.3k
- Investments
- $4.3m
- Employees
- 0
- Location
- Portland, ME
- Founding
- 03/2002
- Data as of
- 10/2023
- EIN
- 01-0546160
Organization Overview
Redco Foundation Inc is located in Portland, ME. The organization was established in 2002. 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. Redco 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 10/2023, Redco Foundation Inc generated $364.3k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $336.7k during the year ending 10/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Redco Foundation Inc has awarded 48 individual grants totaling $717,309. 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 |
|---|---|---|---|
Richard A Bresnahan Director, President | 1 | $0 | |
Matie B Little Secretary/clerk | 1 | $0 | |
Richard M Bresnahan Director, Vp/treasurer | 1 | $0 | |
Elizabeth W Bresnahan Director | 1 | $0 | |
Lillianna Bresnahan Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $179,572 |
| Interest on Savings | $1,646 |
| Dividends & Interest | $101,012 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $82,022 |
| Capital Gain Net Income | $82,022 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $364,252 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,914 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $30 |
| Total operating and administrative expenses | $32,423 |
| Contributions, gifts, grants paid | $304,309 |
| Total expenses and disbursements | $336,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,635 |
| Savings and temporary cash investments | $335,528 |
| 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 | $41,507 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,814,848 |
| 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, Redco Foundation Inc has awarded $304,309 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
AIO FOOD PANTRY PURPOSE: GENERAL PURPOSE | $50,000 |
CAMDEN FOOD PANTRY PURPOSE: GENERAL PURPOSE | $5,000 |
BRING CHANGE TO MIND (BC2M) PURPOSE: GENERAL PURPOSE | $10,000 |
CAMDEN HILLS REGIONAL HIGH SCHOOL PURPOSE: GENERAL PURPOSE | $20,000 |
COASTAL MOUNTAINS LAND TRUST PURPOSE: GENERAL PURPOSE | $5,000 |
DOCSONG PURPOSE: GENERAL PURPOSE | $10,000 |