Rich Family Foundation
- Assets
- $8.8m
- Revenue
- $4.2m
- Investments
- $8.1m
- Employees
- 0
- Location
- Buffalo, NY
- Founding
- 10/1962
- Data as of
- 12/2022
- EIN
- 16-6026199
Organization Overview
Rich Family Foundation is located in Buffalo, NY. The organization was established in 1962. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Rich 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 12/2022, Rich Family Foundation generated $4.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $2.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Rich Family Foundation has awarded 285 individual grants totaling $7,065,906. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert E Rich Jr Chairman | 0 | $0 | |
Melinda Rich President | 0 | $0 | |
Joseph W Segarra Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,900,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $334,727 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$27,618 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $3,000 |
| Total Revenue | $4,210,109 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $123,985 |
| Total operating and administrative expenses | $163,619 |
| Contributions, gifts, grants paid | $2,029,384 |
| Total expenses and disbursements | $2,193,003 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $241,829 |
| Savings and temporary cash investments | $418,190 |
| 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 | $7,221,935 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,765,491 |
| 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, Rich Family Foundation has awarded $2,029,384 in support to 120 organizations.
| Grant Recipient | Amount |
|---|---|
21CONNECT PURPOSE: MEMORIAL DONATION | $10,000 |
BAPTIST HEALTH FOUNDATION PURPOSE: ANNUAL DONATION | $6,000 |
WNY UNITED AGAINST DRUGS & ALCOHOL ABUSE PURPOSE: ANNUAL DONATION | $39,000 |
716SQUASH PURPOSE: GENERAL DONATION | $150 |
ALBRIGHT KNOX ART GALLERY PURPOSE: ANNUAL DONATION | $110,000 |
AMERICAN HEART ASSOCIATION PURPOSE: MEMORIAL DONATION | $550 |