Reid Fam Foundation
- Assets
- $503.7k
- Revenue
- $50.0k
- Investments
- $450.8k
- Employees
- 0
- Location
- Lockport, NY
- Founding
- 03/1995
- Data as of
- 12/2022
- EIN
- 16-1465512
Organization Overview
Reid Fam Foundation is located in Lockport, NY. The organization was established in 1995. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reid Fam 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 12/2022, Reid Fam Foundation generated $50.0k 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 (8.0%) each year. All expenses for the organization totaled $23.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul D Reid President | 1 | $0 | |
Kathryn M Reid Vice President | 1 | $0 | |
Steven T Reid Treasurer | 1 | $0 | |
Robert W Reid Secretary | 1 | $0 | |
Arnold Keller Director | 0 | $0 | |
James Bedard Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $30,000 |
| Interest on Savings | $4 |
| Dividends & Interest | $17,418 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,555 |
| Capital Gain Net Income | $2,555 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $49,977 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $376 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $150 |
| Total operating and administrative expenses | $4,065 |
| Contributions, gifts, grants paid | $19,750 |
| Total expenses and disbursements | $23,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $52,628 |
| 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 | $230,002 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $250 |
| Total assets | $503,657 |
| 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, Reid Fam Foundation has awarded $19,750 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
DESALES CATHOLIC SCHOOL PURPOSE: CHARITABLE | $1,000 |
FOUNDATION FOR TEACHING ECONOMICS PURPOSE: CHARITABLE | $500 |
JUNIOR ACHIEVEMENT OF WNY PURPOSE: CHARITABLE | $10,000 |
LOCKPORT CARENET PURPOSE: CHARATIBLE | $1,000 |
LOCKPORT LOCKS HERITAGE DISTRICT CORPORATION PURPOSE: CHARITABLE | $1,000 |
LOCKPORT PUBLIC LIBRARY ENDOWMENT FUND PURPOSE: CHARITABLE | $500 |