Indian River Community Foundation
- Assets
- $78.4m
- Revenue
- $13.5m
- Investments
- $0.0
- Employees
- 5
- Location
- Vero Beach, FL
- Founding
- 12/2004
- Data as of
- 06/2023
- EIN
- 20-1729243
Organization Overview
Indian River Community Foundation is located in Vero Beach, FL. The organization was established in 2004. 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. As of 06/2023, Indian River Community Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indian River Community 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 06/2023, Indian River Community Foundation generated $13.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $19.1m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Indian River Community Foundation has awarded 1,465 individual grants totaling $84,293,687. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS BUILDING A BETTER COMMUNITY THROUGH DONOR-DRIVEN PHILANTHROPY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDIAN RIVER COMMUNITY FOUNDATION'S MISSION IS BUILDING A BETTER COMMUNITY THROUGH DONOR-DRIVEN PHILANTHROPY. ONE WAY WE CARRY OUT OUR MISSION IS BY GROWING, STEWARDING AND DEPLOYING PHILANTHROPIC CAPITAL TO MAKE OUR COMMUNITY BETTER. WE DO THIS TROUGH TWO MAIN PRODUCTS, DONOR ADVISED FUNDS AND ENDOWMENTS, WHICH OUR CLIENTS USE TO GIVE OR LEAVE A LEGACY TO THE CHARITABLE CAUSES THEY LOVE. ANOTHER WAY WE CARRY OUT OUR MISSION IS BY DEVELOPING AND SHARING COMMUNITY KNOWLEDGE ABOUT LOCAL NEEDS AND NONPROFIT CHARITABLE ORGANIZATIONS, PROGRAMS AND PROJECTS THAT MERIT PHILANTHROPIC INVESTMENT. WE DO THIS USING INNOVATIVE TOOLS SUCH AS OUR ONLINE NONPROFIT SEARCH, INDIAN RIVER INDICATORS AND PUBLICATIONS LIKE OUR ANNUAL GUIDE TO BETTER GIVING, WHICH ARE USED BY CLIENTS AND OTHERS TO MAKE MORE INFORMED GIVING DECISIONS.INDIAN RIVER COMMUNITY FOUNDATION IS GOVERNED AND MANAGED BY ENGAGED AND INVESTED LEADERS WHO BELIEVE THAT OUR ORGANIZATION AND THE GENEROUS PEOPLE WE SERVE CAN HELP BUILD A MORE HEALTHY, PROSPEROUS COMMUNITY. IN DOING SO, WE COMMIT OUR BEST EFFORTS TO DEMONSTRATE THE VALUES OF KNOWLEDGE AND CORE KNOW-HOW, SERVICE EXCELLENCE AND DIVERSITY, EQUITY AND INCLUSION IN OUR WORK.TOGETHER WITH OUR CLIENTS, IN THE FISCAL YEAR ENDING JUNE 30, 2023, INDIAN RIVER COMMUNTY FOUNDATION AWARDED GRANTS TOTALING $17,229,000 FROM 202 CHARITABLE GIVING ACCOUNTS TO CHARITIES IN INDIAN RIVER COUNTY AND AROUND THE UNITED STATES. ON JUNE 30, 2023, A TOTAL OF 82 INDIVIDUALS WERE RECOGNIZED AS PART OF THE ALMA LEE LOY LEGACY SOCIETY FOR MAKING A PLANNED GIFT FROM THEIR ESTATE TO INDIAN RIVER COMMUNITY FOUNDATION. TOGETHER, WE ARE PART OF SOMETHING BETTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael A Mcmanus Jr Chairman | OfficerTrustee | 4 | $0 |
Kathryn B Healy Vice Chairman | OfficerTrustee | 4 | $0 |
Debra K Lockwood Treasurer | OfficerTrustee | 4 | $0 |
Dale F Jacobs Secretary | OfficerTrustee | 4 | $0 |
Suzanne E Bertman Director | Trustee | 2 | $0 |
Patricia A Brier Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,188,776 |
| Noncash contributions included in lines 1a–1f | $6,211,203 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,188,776 |
| Total Program Service Revenue | $0 |
| Investment income | $1,743,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,097,199 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,546,324 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,163,645 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $238,300 |
| Compensation of current officers, directors, key employees. | $47,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $294,310 |
| Pension plan accruals and contributions | $15,505 |
| Other employee benefits | $37,682 |
| Payroll taxes | $33,433 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,373 |
| Fees for services: Accounting | $25,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $351,503 |
| Fees for services: Other | $54,011 |
| Advertising and promotion | $66,589 |
| Office expenses | $21,685 |
| Information technology | $20 |
| Royalties | $0 |
| Occupancy | $53,981 |
| Travel | $5,933 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,236 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,153 |
| Insurance | $3,609 |
| All other expenses | $16,082 |
| Total functional expenses | $19,143,625 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $127,476 |
| Savings and temporary cash investments | $4,386,703 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $48,942 |
| Net Land, buildings, and equipment | $89,884 |
| Investments—publicly traded securities | $73,778,276 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,358 |
| Total assets | $78,436,639 |
| Accounts payable and accrued expenses | $15,935 |
| Grants payable | $258,330 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,799,481 |
| Total liabilities | $5,073,746 |
| Net assets without donor restrictions | $72,229,638 |
| Net assets with donor restrictions | $1,133,255 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $78,436,639 |
Grants Awarded
Over the last fiscal year, Indian River Community Foundation has awarded $16,491,855 in support to 179 organizations.
| Grant Recipient | Amount |
|---|---|
36TH CHURCH OF CHRIST SCIENTIST PURPOSE: GENERAL OPERATING | $5,280 |
ALZHEIMERPARKINSON ASSOCIATION OF INDIAN RIVER COUNTY INC PURPOSE: GENERAL OPERATING | $49,975 |
AMERICAN BATTLEFIELD TRUST PURPOSE: GENERAL OPERATING | $15,000 |
AMERICAN CANCER SOCIETY INC PURPOSE: GENERAL OPERATING | $10,000 |
AMERICAN FRIENDS OF SHALVA ISRAEL INC PURPOSE: GENERAL OPERATING | $50,000 |
AMERICAN FRIENDS OF THE JAFFA INSTITUTE PURPOSE: GENERAL OPERATING | $40,000 |