Raymond E & Evona Watson Foundation
- Assets
- $130.7k
- Revenue
- $21.6k
- Investments
- $129.2k
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 04/2000
- Data as of
- 12/2021
- EIN
- 38-3493259
Organization Overview
Raymond E & Evona Watson Foundation is located in Detroit, MI. 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. Raymond E & Evona Watson 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 12/2021, Raymond E & Evona Watson Foundation generated $21.6k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $16.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Comerica Bank And Trust N A Trustee | 1 | $4,300 | |
Evona Watson Principal Manager | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,978 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $17,624 |
| Capital Gain Net Income | $17,624 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $21,602 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $4,300 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $21 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $102 |
| Total operating and administrative expenses | $8,905 |
| Contributions, gifts, grants paid | $8,000 |
| Total expenses and disbursements | $16,905 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,462 |
| 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 | $130,652 |
| 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 |
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