Raymond John Wean Foundation
- Assets
- $88.0m
- Revenue
- $4.5m
- Investments
- $78.7m
- Employees
- 0
- Location
- Warren, OH
- Founding
- 12/1950
- Data as of
- 12/2023
- EIN
- 34-6505038
Organization Overview
Raymond John Wean Foundation is located in Warren, OH. The organization was established in 1950. 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. Raymond John Wean 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, Raymond John Wean Foundation generated $4.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $5.1m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Raymond John Wean Foundation has awarded 483 individual grants totaling $17,573,999. 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
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gordon B Wean Chairman | 15 | $0 | |
Molly Seals Vice Chair | 2 | $0 | |
Dante Capers Board Member | 2 | $0 | |
Carla Baldwin Board Member | 2 | $0 | |
Sara Daugherty Secretary | 2 | $0 | |
Stanley Elkins Board Member | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Glenmede | 12/30/23 | $366,939 |
Thirdspace Action Lab Llc | 12/30/23 | $96,056 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,874,846 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,613,778 |
| Capital Gain Net Income | $2,613,778 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $4,488,624 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $184,060 |
| Other employee salaries and wages | $274,747 |
| Pension plans, employee benefits | $99,764 |
| Interest | $99,847 |
| Taxes | $92,642 |
| Depreciation | $88,926 |
| Occupancy | $68,290 |
| Travel, conferences, and meetings | $22,084 |
| Printing and publications | $0 |
| Other expenses | $193,322 |
| Total operating and administrative expenses | $1,770,600 |
| Contributions, gifts, grants paid | $3,338,659 |
| Total expenses and disbursements | $5,109,259 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $823,433 |
| Savings and temporary cash investments | $5,990,232 |
| 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 | $114,674 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $7,246,933 |
| Net Land, buildings, and equipment | $2,230,709 |
| Other assets | $130,924 |
| Total assets | $87,987,079 |
| Accounts payable and accrued expenses | $144,626 |
| Grants payable | $2,751,275 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $1,561,908 |
| Other liabilities | $0 |
| Total liabilities | $4,457,809 |
Grants Awarded
Over the last fiscal year, Raymond John Wean Foundation has awarded $4,596,669 in support to 94 organizations.
| Grant Recipient | Amount |
|---|---|
ACTION INC PURPOSE: GENERAL OPERATING SUPPORT | $4,000 |
ADVANCEMENT PROJECT PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
AFRICAN AMERICAN MALE WELLNESS AGENCY PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
AMERICAN RED CROSS OF GREATER AKRON AND THE MAHONING VALLEY PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
ANDREA MAHONE FOUNDATION PURPOSE: GENERAL OPERATING SUPPORT | $5,000 |
ASSOCIATED NEIGHBORHOOD CENTERS MCGUFFEY CENTRE PURPOSE: GENERAL OPERATING SUPPORT | $2,954 |