Michael And Karen Stone Family Foundation Inc
- Assets
- $50.2m
- Revenue
- $11.6m
- Investments
- $35.4m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 06/2003
- Data as of
- 12/2021
- EIN
- 05-0544633
Organization Overview
Michael And Karen Stone Family Foundation Inc is located in Wilmington, DE. The organization was established in 2003. 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. Michael And Karen Stone 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 12/2021, Michael And Karen Stone Family Foundation Inc generated $11.6m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 24.1% each year . All expenses for the organization totaled $2.3m during the year ending 12/2021. While expenses have increased by 1.2% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Michael And Karen Stone Family Foundation Inc has awarded 105 individual grants totaling $6,432,987. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOUNDATION HIRED CONTRACTORS TO PLAN AND DRILL WELLS FOR 3 VILLAGES IN AFRICA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen M Stone Dir | 1 | $0 | |
Michael R Stone Pres, Dir, Sec | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,596,538 |
| Interest on Savings | $2,122 |
| Dividends & Interest | $28,214 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,171,646 |
| Capital Gain Net Income | $6,640,182 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,820,785 |
| Total Revenue | $11,619,305 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $52,600 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $26,939 |
| Printing and publications | $0 |
| Other expenses | $301,613 |
| Total operating and administrative expenses | $400,878 |
| Contributions, gifts, grants paid | $1,867,590 |
| Total expenses and disbursements | $2,268,468 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $14,479,098 |
| Net Accounts receivable | $10,022 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $250,020 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $31,827,340 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $50,162,061 |
| 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, Michael And Karen Stone Family Foundation Inc has awarded $2,492,633 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN FRIENDS OF MACMILLAN CANCER SUPPORT PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
BIG BROTHERS BIG SISTERS OF SAN DIEGO COUNTY INC PURPOSE: GENERAL & UNRESTRICTED | $39,800 |
BISHOPS SCHOOL PURPOSE: GENERAL & UNRESTRICTED | $25,000 |
CAMP SOUTHERN GROUND INC PURPOSE: GENERAL & UNRESTRICTED | $25,000 |
CHORDOMA FOUNDATION PURPOSE: GENERAL & UNRESTRICTED | $500 |
CLIMATE VAULT INC PURPOSE: GENERAL & UNRESTRICTED | $10,000 |