George J Record School Foundation
- Assets
- $2.5m
- Revenue
- $125.4k
- Investments
- $2.4m
- Employees
- 0
- Location
- Conneaut, OH
- Founding
- 09/1959
- Data as of
- 12/2023
- EIN
- 34-0830818
Organization Overview
George J Record School Foundation is located in Conneaut, OH. The organization was established in 1959. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. George J Record School 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 12/2023, George J Record School Foundation generated $125.4k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $148.8k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, George J Record School Foundation has awarded 117 individual grants totaling $456,850. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE PART XV LINE 3A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles N Lafferty Exec Dir/pres/trustee | 10 | $18,780 | |
William N Runyan Trustee | 4 | $3,300 | |
P Thomas Picard Vp/trustee | 6 | $3,900 | |
Kerry W Gerdes Sec/treas/trustee | 5 | $7,440 | |
James C Kennedy Trustee | 3 | $3,300 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $197 |
| Dividends & Interest | $116,136 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,083 |
| Capital Gain Net Income | $6,871 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $125,416 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $36,720 |
| Other employee salaries and wages | $6,405 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,277 |
| Depreciation | $0 |
| Occupancy | $186 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,325 |
| Total operating and administrative expenses | $67,657 |
| Contributions, gifts, grants paid | $81,150 |
| Total expenses and disbursements | $148,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $60,183 |
| 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 | $1,460,754 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,476,249 |
| Accounts payable and accrued expenses | $13,105 |
| 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 | -$880 |
| Total liabilities | $12,225 |
Grants Awarded
Over the last fiscal year, George J Record School Foundation has awarded $120,150 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
ALLY DURKOVIC PURPOSE: EDUCATION STUDY | $6,350 |
ALYSSA PORTZER PURPOSE: EDUCATION STUDY | $3,000 |
CHRISTOPHER FULLER PURPOSE: EDUCATION STUDY | $3,000 |
ELLA BURDICK PURPOSE: EDUCATION STUDY | $6,350 |
EMILY FALCONE PURPOSE: EDUCATION STUDY | $6,350 |
JARED SCHWOTZER PURPOSE: EDUCATION STUDY | $4,850 |