Ross-Ade Foundation
- Assets
- $171.9m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 0
- Location
- West Lafayette, IN
- Founding
- 02/1936
- Data as of
- 06/2023
- EIN
- 35-6026021
Organization Overview
Ross-Ade Foundation is located in West Lafayette, IN. The organization was established in 1936. According to its NTEE Classification (B80) the organization is classified as: Student Services, 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. Ross-Ade 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 06/2023, Ross-Ade Foundation generated $3.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $3.9m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (2.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT & ASSIST THE EDUCATIONAL PURPOSES OF PURDUE UNIVERSITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE EDUCATIONAL PURPOSES IN CONNECTION WITH PURDUE UNIVERSITY BY OBTAINING, ACQUIRING, CONSTRUCTING, OR PROVIDING BUILDINGS, GROUNDS, OR OTHER SUITABLE PROPERTY FOR THE USE OR BENEFIT OF PURDUE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Assistant Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Vice President & Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Vice President (through July 2022) | OfficerTrustee | 1 | $0 |
Name Not Listed Assistant Secretary (beginning Feb 2023) | OfficerTrustee | 1 | $0 |
Name Not Listed President (through Jan 2023) | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $7,638 |
| Investment income | $3,889,986 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,897,624 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,460 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $47 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,887,368 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,941 |
| All other expenses | $0 |
| Total functional expenses | $3,903,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,534 |
| Savings and temporary cash investments | $737,163 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $518,498 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,079,075 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,219,710 |
| Net Land, buildings, and equipment | $150,873 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $165,995,834 |
| Total assets | $171,857,687 |
| Accounts payable and accrued expenses | $2,891,337 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $144,568,494 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,492,701 |
| Total liabilities | $167,952,532 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $3,905,155 |
| Total liabilities and net assets/fund balances | $171,857,687 |