James & Virginia Welch Foundation
- Assets
- $3.7m
- Revenue
- $149.0k
- Investments
- $3.5m
- Employees
- 0
- Location
- Parsippany, NJ
- Founding
- 07/1997
- Data as of
- 12/2021
- EIN
- 22-3504396
Organization Overview
James & Virginia Welch Foundation is located in Parsippany, NJ. The organization was established in 1997. 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. James & Virginia Welch 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 12/2021, James & Virginia Welch Foundation generated $149.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 66.9% each year . All expenses for the organization totaled $205.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, James & Virginia Welch Foundation has awarded 463 individual grants totaling $1,273,300. 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Virginia B Welch Vice President | 1 | $0 | |
Robert Wong Secretary And Treasurer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $12 |
| Dividends & Interest | $75,554 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $73,423 |
| Capital Gain Net Income | $73,423 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $148,989 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $500 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,483 |
| Total operating and administrative expenses | $34,164 |
| Contributions, gifts, grants paid | $170,900 |
| Total expenses and disbursements | $205,064 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,446 |
| Savings and temporary cash investments | $145,508 |
| 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 | $3,663,927 |
| 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, James & Virginia Welch Foundation has awarded $170,900 in support to 62 organizations.
| Grant Recipient | Amount |
|---|---|
CHRISTOPHER & DANA REEVE FOUNDATION PURPOSE: UNRESTRICTED | $50,000 |
HARVARD COLLEGE FUND PURPOSE: UNRESTRICTED | $25,000 |
TRUSTEES OF COLUMBIA UNIVERSITY PURPOSE: UNRESTRICTED | $10,000 |
New York, NY PURPOSE: UNRESTRICTED | $8,400 |
Washington, DC PURPOSE: UNRESTRICTED | $5,000 |
COMMUNITY CONGREGATIONAL CHURCH PURPOSE: UNRESTRICTED | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |
Big East Conference Inc New York, NY | $25,429,264 | $59,716,596 |
Bristol-Myers Squibb Foundation Inc New York, NY | $146,629,708 | $46,784 |