The Irene C Shea Charitable Foundation
- Assets
- $22.2m
- Revenue
- $7.5m
- Investments
- $20.4m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 11/1994
- Data as of
- 07/2024
- EIN
- 25-6410108
Organization Overview
The Irene C Shea Charitable Foundation is located in Pittsburgh, PA. The organization was established in 1994. 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. Irene C Shea Charitable 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 07/2024, Irene C Shea Charitable Foundation generated $7.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 34.5% each year . All expenses for the organization totaled $1.5m during the year ending 07/2024. While expenses have increased by 9.9% per year over the past 8 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 2016, Irene C Shea Charitable Foundation has awarded 185 individual grants totaling $7,230,925. 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 |
|---|---|---|---|
Pnc Bank Na Co-Trustee | 38 | $188,876 | |
Thomas J Hickey Co-Trustee | 5 | $9,794 | |
Susan Hickey Co-Trustee | 5 | $9,794 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $642,377 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,878,094 |
| Capital Gain Net Income | $6,878,094 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,520,471 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $208,464 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $25,985 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $79,088 |
| Total operating and administrative expenses | $315,798 |
| Contributions, gifts, grants paid | $1,159,425 |
| Total expenses and disbursements | $1,475,223 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,749,844 |
| 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 | $5,503,099 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $22,198,634 |
| 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 Irene C Shea Charitable Foundation has awarded $1,159,425 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
THE BLESSING BOARD PURPOSE: GENERAL SUPPORT | $30,000 |
FAMILY GUIDANCE INC PURPOSE: GENERAL SUPPORT | $20,000 |
THE PITTSBURGH PROJECT PURPOSE: GENERAL SUPPORT | $50,000 |
TIGER PAUSE YOUTH MINISTRY PURPOSE: GENERAL SUPPORT | $14,000 |
CAFE MOMENTUM PITTSBURGH PURPOSE: GENERAL SUPPORT | $15,000 |
EAST END COOPERATIVE MINISTRY PURPOSE: GENERAL SUPPORT | $40,000 |