Rice Foundation
- Assets
- $66.9m
- Revenue
- $4.7m
- Investments
- $56.1m
- Employees
- 0
- Location
- Skokie, IL
- Founding
- 05/1949
- Data as of
- 12/2023
- EIN
- 36-6043160
Organization Overview
Rice Foundation is located in Skokie, IL. The organization was established in 1949. 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. Rice 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, Rice Foundation generated $4.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $4.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Rice Foundation has awarded 532 individual grants totaling $33,661,000. 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
NO DIRECT CHARITABLE ACTIVITY.ACTIVITIES WERE LIMITED TO MAKING GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Nolan President | 60 | $281,563 | |
Richard T Schroeder Treasurer | 0 | $0 | |
Christine Nolan Vice President | 40 | $108,150 | |
Barbara Whitney Carr Director | 0 | $0 | |
Marshall Field V Director | 0 | $0 | |
Robin Nolan Director | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Burton Weitzman Cpa | 12/30/20 | $52,392 |
Jp Morgan Brokerage Services | 12/30/20 | $332,578 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $206,238 |
| Dividends & Interest | $1,513,852 |
| Net Rental Income | $159,222 |
| Net Gain on Sale of Assets | $1,207,142 |
| Capital Gain Net Income | $1,207,142 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,544,909 |
| Total Revenue | $4,740,622 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $281,563 |
| Other employee salaries and wages | $108,150 |
| Pension plans, employee benefits | $77,493 |
| Interest | $0 |
| Taxes | $45,577 |
| Depreciation | $66,399 |
| Occupancy | $94,324 |
| Travel, conferences, and meetings | $2,216 |
| Printing and publications | $0 |
| Other expenses | $115,868 |
| Total operating and administrative expenses | $1,173,757 |
| Contributions, gifts, grants paid | $3,678,000 |
| Total expenses and disbursements | $4,851,757 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $495,961 |
| Savings and temporary cash investments | $1,516,921 |
| 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 | $7,531,030 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,332,541 |
| Net Land, buildings, and equipment | $228,151 |
| Other assets | $1,086,738 |
| Total assets | $66,938,151 |
| 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, Rice Foundation has awarded $3,678,000 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS COMMUNITY HEALTH NETWORK PURPOSE: CHARITABLE | $5,000 |
BLUE ISLAND CITIZENS FOR PERSON-BLU PURPOSE: CHARITABLE | $10,000 |
BY THE HAND CLUB FOR KIDSFORMERLY K PURPOSE: CHARITABLE | $100,000 |
CANINE THERAPY CORPS PURPOSE: CHARITABLE | $10,000 |
CAREER TRANSITIONS CENTER OF CHICAG PURPOSE: CHARITABLE | $10,000 |
CENTER OF CONCERN PURPOSE: CHARITABLE | $10,000 |