The Richard W Sorenson Family Foundation Inc
- Assets
- $9.8m
- Revenue
- $523.2k
- Investments
- $7.9m
- Employees
- 0
- Location
- Fort Lauderdale, FL
- Founding
- 03/1985
- Data as of
- 12/2023
- EIN
- 22-2547323
Organization Overview
The Richard W Sorenson Family Foundation Inc is located in Fort Lauderdale, FL. The organization was established in 1985. 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. Richard W Sorenson Family 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 12/2023, Richard W Sorenson Family Foundation Inc generated $523.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $597.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Richard W Sorenson Family Foundation Inc has awarded 29 individual grants totaling $3,878,500. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
THE FOUNDATION IS NOT INVOLVED IN ANY DIRECT CHARITABLE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard W Sorenson President, Treasurer, Director | 0 | $0 | |
Paul Kleinfeld Director | 0 | $0 | |
Sandra Sorenson Vp, Secretary, Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $9,450 |
| Interest on Savings | $0 |
| Dividends & Interest | $711,793 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$126,314 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$71,722 |
| Total Revenue | $523,207 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $9,677 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $491 |
| Total operating and administrative expenses | $19,618 |
| Contributions, gifts, grants paid | $577,500 |
| Total expenses and disbursements | $597,118 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $214,958 |
| 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 | $1,705,634 |
| Total assets | $9,806,716 |
| 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, The Richard W Sorenson Family Foundation Inc has awarded $577,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
ABANDONED PET RESCUE PURPOSE: SUPPORT ORGANIZATION'S PROGRAMS AND ACTIVITIES | $2,500 |
BABSON COLLEGE PURPOSE: SUPPORT ORGANIZATION'S PROGRAMS AND ACTIVITIES | $500,000 |
CLEVELAND CLINIC MARTIN HEALTH FOUNDATION PURPOSE: SUPPORT ORGANIZATION'S PROGRAMS AND ACTIVITIES | $50,000 |
GRAND TETON NATIONAL PARK FOUNDATION PURPOSE: SUPPORT ORGANIZATION'S PROGRAMS AND ACTIVITIES | $25,000 |