Dr Rustom And Mary Khouri Foundation

Organization Overview

Dr Rustom And Mary Khouri Foundation is located in Westlake, OH. The organization was established in 1999. 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. Dr Rustom And Mary Khouri 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, Dr Rustom And Mary Khouri Foundation generated $15.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (18.8%) each year. All expenses for the organization totaled $13.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (22.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2014, Dr Rustom And Mary Khouri Foundation has awarded 69 individual grants totaling $1,119,668. 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.

Mission & Program ActivityExcerpts From the 990PF Filing

TAX YEAR

2023

Describe the Organization's Program Activity:

Part 3 - Line 4a

FOUNDATION SERVES THE ROLE OF INTERMEDIARY IN PROVING A HOME TO AN INDIGENT FAMILY. ANY EXPENSES PAID ARE OFFSET BY A REIMBURSEMENT FROM THE CLEVELAND METROPOLITION HOUSING AUTHORITY WHICH IS PROVIDING A BENEFIT TO THE BENEFICIAL OWNER OF THE HOME DIRECTLY TO THE FOUNDATION SINCE IT HOLDS LEGAL TITLE TO THE PROPERTY. THE INCOME IS REPORTED ON A 1099 BY THE CMHA, BUT TRULY REPRESENTS AN EXPENSE OFFSET SINCE THE FOUNDATION OWNS THE HOME IN NAME ONLY ON BEHALF OF THE BENEFICIAL OWNER. THE EXPENSES PAID ARE RELATED TO THE HOME AT 1509 WAGAR AVENUE, LAKEWOOD, OH AND NET TO $0 IN 2023 AFTER REFLECTING THE REIMBURSEMENT.


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Financial Statements

Statement of Revenue
Contributions, Gifts, Grants & Similar $7,186
Interest on Savings $2
Dividends & Interest $0
Net Rental Income$8,519
Net Gain on Sale of Assets $0
Capital Gain Net Income $0
Net ST Capital Gain $0
Income Modifications $0
Profit on Inventory Sales $0
Other Income $0
Total Revenue $15,707

Grants Awarded

Over the last fiscal year, Dr Rustom And Mary Khouri Foundation has awarded $5,932 in support to 7 organizations.

Grant RecipientAmount

ST LADISLAS

PURPOSE: GENERAL OPERATIONS

$817

ST MARONS CHURCH

PURPOSE: GENERAL OPERATIONS

$1,000

ST ANN CHURCH

PURPOSE: GENERAL OPERATIONS

$20

EPARCHY OF OUR LADY OF LEBANON

PURPOSE: GENERAL OPERATIONS

$1,000

THE TURN

PURPOSE: GENERAL OPERATIONS

$150

THE SOVEREIGN ORDER OF ST JOHN OF JERUSALEM KNIGHTS HOSPITALLER

PURPOSE: GENERAL OPERATIONS

$2,900
View Grant Profile

Peer Organizations

Organization NameAssets
Scripps-Howard Foundation
Cincinnati, OH
$11,898,540
Albert J Weatherhead Estate Trust Uw Item Iv National City Bk Of Cle
Mayfield Heights, OH
$2,504,188
Connor Group Foundation
Miamisburg, OH
$50,620,083
Hillier Family Foundation
Akron, OH
$3,603,112
Hazel Ruby Mcquain Charitable Tr
Morgantown, WV
$9,092,496
James J And Joan A Gardner Family Foundation
Cincinnati, OH
$7,370,172
Hummingbird Society Foundation
Cincinnati, OH
$103,373
The Generation Trust
Cincinnati, OH
$1,281,178
Howmet Aerospace Foundation
Pittsburgh, PA
$27,580,754
The Steve & Amy Van Andel Foundation
Grand Rapids, MI
$4,389,009
Carls Foundation
Bloomfield Hills, MI
$4,079,517
1994 Charles B Degenstein Foundation
Sunbury, PA
$5,598,293
Lachimi Foundation
Troy, MI
$5,373,069
The Frances And Craig Lindner Foundation
Cincinnati, OH
$8,472,071
Alexander Grass Foundation
Mechanicsburg, PA
$6,125,513
The Aileen K And Brian L Roberts Foundation
Philadelphia, PA
$9,768,771
Msu Foundation Inc
Morehead, KY
$10,191,156
J Rogers Badgett Sr Foundation Inc
Madisonville, KY
$5,623,619
The David And Carol Van Andel Family Foundation
Grand Rapids, MI
$9,006,988
Kent H Smith Charitable Tr 11012005
Cleveland, OH
$1,082,543
Mary Cross Tippmann Foundation Charitable Trust
Fort Wayne, IN
$81,846,413
The@richard And Marcy Horvitz Foundation
Orange Village, OH
$6,289,604
A Alfred Taubman Foundation
Bloomfield Hills, MI
$80,255,481
Allone Foundation
Wilkesbarre, PA
$5,484,808
Samerian Foundation Inc
Carmel, IN
$8,669,188

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