Welty Family Foundation
- Assets
- $8.5m
- Revenue
- $176.8k
- Investments
- $8.3m
- Employees
- 0
- Location
- Akron, OH
- Founding
- 03/2000
- Data as of
- 12/2023
- EIN
- 34-1908053
Organization Overview
Welty Family Foundation is located in Akron, OH. The organization was established in 2000. 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. Welty Family 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, Welty Family Foundation generated $176.8k 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 (4.5%) each year. All expenses for the organization totaled $464.2k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Welty Family Foundation has awarded 589 individual grants totaling $3,058,650. 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 |
|---|---|---|---|
Jerry H Welty President | 0 | $0 | |
Emily C Welty Vice President | 0 | $0 | |
Richard C Fedorovich Treasurer | 0 | $0 | |
Ronald S Kopp Trustee | 0 | $0 | |
Monica Welty Brown Trustee | 0 | $0 | |
Chad C Welty Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $12,061 |
| Interest on Savings | $12,259 |
| Dividends & Interest | $181,440 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$28,954 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $176,806 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $653 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $40,530 |
| Total operating and administrative expenses | $47,183 |
| Contributions, gifts, grants paid | $417,000 |
| Total expenses and disbursements | $464,183 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $126,248 |
| Savings and temporary cash investments | $0 |
| 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 | $8,453,060 |
| 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, Welty Family Foundation has awarded $417,000 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
AKRON ART MUSEUM PURPOSE: COMMUNITY | $4,500 |
AKRON CHILDREN'S MUSEUM PURPOSE: COMMUNITY | $10,000 |
AKRON INNER CITY SOCCER CLUB PURPOSE: COMMUNITY | $7,000 |
AKRON MARATHON CHARITABLE CORP PURPOSE: COMMUNITY | $4,500 |
AKRON ZOOLOGICAL PARK PURPOSE: COMMUNITY | $4,000 |
AKRON-CANTON REGIONAL FOODBANK PURPOSE: COMMUNITY | $15,000 |