Firstfruits Foundation
- Assets
- $1.8m
- Revenue
- $12.7k
- Investments
- $1.8m
- Employees
- 0
- Location
- Elverson, PA
- Founding
- 09/1995
- Data as of
- 12/2021
- EIN
- 23-2808624
Organization Overview
Firstfruits Foundation is located in Elverson, PA. The organization was established in 1995. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Firstfruits 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, Firstfruits Foundation generated $12.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $122.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Firstfruits Foundation has awarded 40 individual grants totaling $2,407,123. 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 |
|---|---|---|---|
Derial H Sanders Director | 1 | $0 | |
Edward H Cone Vice President/secretary | 1 | $0 | |
Robert L Cone President/treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3 |
| Dividends & Interest | $7,574 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,816 |
| Capital Gain Net Income | $2,816 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,343 |
| Total Revenue | $12,736 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $1,760 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,251 |
| Total operating and administrative expenses | $12,825 |
| Contributions, gifts, grants paid | $110,000 |
| Total expenses and disbursements | $122,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,709 |
| Savings and temporary cash investments | $1,178 |
| 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 | $1,374,377 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,836,702 |
| 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, Firstfruits Foundation has awarded $110,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SHEPHERDS MINISTRIES PURPOSE: GENERAL FUND | $100,000 |
IGLESIA BIBLICA BAUTISTA PURPOSE: GENERAL FUND | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Firstfruits Foundation has recieved totaling $22,092.
| Awarding Organization | Amount |
|---|---|
Salt & Light Foundation Elverson, PA PURPOSE: GENERAL FUND | $11,046 |
Salt & Light Foundation Elverson, PA PURPOSE: GENERAL FUND | $11,046 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Johnson & Johnson Foundation United States Inc New Brunswick, NJ | $130,108,063 | $92,858,448 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Diana Davis Spencer Foundation Bethesda, MD | $1,510,145,435 | $31,448,274 |
Davis Family Foundation Hanover, MD | $1,302,672,743 | $64,475,559 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |