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 52 individual grants totaling $3,940,354. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
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 |
|---|---|---|---|
Michael R Stone Pres, Dir, Sec | 1 | $0 | |
Karen M Stone Dir | 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 $1,867,590 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
DUKE UNIVERSITY PURPOSE: DUKE FUQUA SCHOOL OF BUSINESS | $560,000 |
DUKE UNIVERSITY PURPOSE: DUKE ATHLETICS | $400,000 |
DUKE UNIVERSITY PURPOSE: DUKE PRESIDENTIAL PRIORITIES FUND | $250,000 |
Norwalk, CT PURPOSE: GENERAL & UNRESTRICTED | $150,000 |
DUKE UNIVERSITY PURPOSE: DUKE NICHOLAS SCHOOL OF THE ENVIRONMENT (NSOE), DEAN'S DISCRETION | $100,000 |
La Jolla, CA PURPOSE: TO SUPPORT SCRIPPS INSTITUTION OF OCEANOGRAPHY AND TO BE USED AT THE DISCRETION OF THE SIO DIRECTOR | $75,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Michael And Karen Stone Family Foundation Inc has recieved totaling $480,533.
| Awarding Organization | Amount |
|---|---|
The@lisa And Steve Altman Family Foundation La Jolla, CA PURPOSE: GENERAL FUND | $480,533 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
Crystal Trust Ua Dtd 12-25-47 Irenee Dupont Jr Ttee Montchanin, DE | $288,226,063 | $32,506,410 |
Morgridge Family Foundation Wilmington, DE | $205,419,134 | $22,580,458 |
GDS Legacy Foundation Inc Wilmington, DE | $0 | $575,846 |
De Beaumont Foundation Inc Bethesda, MD | $183,698,152 | $47,357,470 |
Foundation For The Greatest Good Fulton, MD | $11,551,864 | $19,462,876 |
Young Mens Christian Association Of The Chesapeake Inc Easton, MD | $84,208,847 | $28,289,184 |
Living Legacy Foundation Wilmington, DE | $129,501,628 | $9,577,224 |
The Healey International Relief Foundation Inc Lumberton, NJ | $326,937 | $11,415,022 |
Zachary Smith Reynolds Trust Pittsburgh, PA | $187,892,547 | $20,789,622 |