Townsend Family Foundation
- Assets
- $3.7m
- Revenue
- $3.7m
- Investments
- $2.1m
- Employees
- 0
- Location
- Albany, NY
- Founding
- 12/1994
- Data as of
- 06/2024
- EIN
- 13-3748079
Organization Overview
Townsend Family Foundation is located in Albany, NY. The organization was established in 1994. According to its NTEE Classification (T31) the organization is classified as: Community 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. Townsend Family 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 06/2024, Townsend Family Foundation generated $3.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $2.7m during the year ending 06/2024. 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
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John L Townsend III Trustee | 1 | $0 | |
Marree S Townsend Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,101,971 |
| Interest on Savings | $20,061 |
| Dividends & Interest | $3,682 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,561,397 |
| Capital Gain Net Income | $2,561,397 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $33,091 |
| Total Revenue | $3,720,202 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,260 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,113 |
| Total operating and administrative expenses | $48,191 |
| Contributions, gifts, grants paid | $2,641,200 |
| Total expenses and disbursements | $2,689,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,607,178 |
| 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 | $39,770 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,688,001 |
| 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 |