Red Bank Foundation Inc
- Assets
- $171.9k
- Revenue
- $52.3k
- Investments
- $160.6k
- Employees
- 0
- Location
- Vero Beach, FL
- Founding
- 05/1953
- Data as of
- 12/2021
- EIN
- 21-0737092
Organization Overview
Red Bank Foundation Inc is located in Vero Beach, FL. The organization was established in 1953. 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. Red Bank 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, Red Bank Foundation Inc generated $52.3k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 21.8% each year . All expenses for the organization totaled $43.4k during the year ending 12/2021. While expenses have increased by 9.9% per year over the past 5 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 2018, Red Bank Foundation Inc has awarded 28 individual grants totaling $583,650. 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.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $31,110 |
| Interest on Savings | $3 |
| Dividends & Interest | $21,230 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $52,343 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,041 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,733 |
| Contributions, gifts, grants paid | $41,650 |
| Total expenses and disbursements | $43,383 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,332 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $171,907 |
| 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, Red Bank Foundation Inc has awarded $41,650 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED WAY OF INDIAN RIVER PURPOSE: CONTRIBUTION | $22,650 |
Vero Beach, FL PURPOSE: YOUTH ACHIEVEMENT | $15,000 |
PIERONE RESEARCH INSTITUTE PURPOSE: AIDS RESEARCH & TREATMENT | $1,000 |
FLOAT HOPE INDIAN RIVER COUNTY PURPOSE: TEACH CHILDREN TO SWIM AS LIFE SKILL | $1,000 |
LEARNING ALLIANCE PURPOSE: TUTORING CHILDREN | $1,000 |
CLEVELAND CLINIC FOUNDATION PURPOSE: EXPAND TECHNOLOGY & CAPACITY | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fraser-Parker Foundation Atlanta, GA | $226,420,772 | $14,099,479 |
Paces Foundation Inc Smyrna, GA | $85,397,872 | $9,603,919 |
Ds Foundation Miami, FL | $183,651,055 | $1,385,395 |
The Ma-Ran Foundation Atlanta, GA | $81,838,064 | $4,938,726 |
Altec-Styslinger Foundation Inc Birmingham, AL | $128,305,509 | $25,360,360 |
Elizabeth Morse Genius Foundation Winter Park, FL | $145,557,522 | $11,233,005 |
Daniel Foundation Of Alabama Birmingham, AL | $125,925,900 | $11,135,386 |
Daniel E Offutt Iii Charitable Tr Sarasota, FL | $1,076,359 | $6,500,161 |
BBVA Foundation Birmingham, AL | $0 | $7,925,433 |
E G Watkins Family Foundation West Palm Beach, FL | $3,784,813 | $11,500,184 |
The Anita James Rosen Foundation Inc St Petersburg, FL | $5,834,282 | $31,742 |
Peterffy Foundation West Palm Beach, FL | $132,920,946 | $11,657,366 |