Francis P & Nell A Rhoades Memorial Foundation
- Assets
- $1.3m
- Revenue
- $76.9k
- Investments
- $1.3m
- Employees
- 0
- Location
- Troy, MI
- Founding
- 03/1966
- Data as of
- 12/2021
- EIN
- 38-6108728
Organization Overview
Francis P & Nell A Rhoades Memorial Foundation is located in Troy, MI. The organization was established in 1966. 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. Francis P & Nell A Rhoades Memorial 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, Francis P & Nell A Rhoades Memorial Foundation generated $76.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $72.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Francis P & Nell A Rhoades Memorial Foundation has awarded 51 individual grants totaling $404,500. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION DOES NOT CONDUCT DIRECT CHARITABLE ACTIVITIES OR INCUR EXPENSES RELATIVE TO CHARITABLE ACTIVITIES, EXCEPT IN THE PERFORMANCE OF TH ENECESSARY EVALUATION OF GRANTS TO THE ORGANIZATIONS AS SET FORTH IN PART XV.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Howard O Emorey Trustee | 0.25 | $0 | |
Joseph Beals MD President | 0.5 | $0 | |
Melvin Hollowell MD Trustee | 0.25 | $0 | |
Adam Jablonowski Trustee | 0.25 | $0 | |
L James Wilson Treasurer | 2 | $0 | |
Dennis Rahaley Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $25 |
| Interest on Savings | $1 |
| Dividends & Interest | $52,795 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $24,111 |
| Capital Gain Net Income | $24,111 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $76,932 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20,100 |
| Total operating and administrative expenses | $21,650 |
| Contributions, gifts, grants paid | $51,000 |
| Total expenses and disbursements | $72,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,184 |
| 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 | $1,311,941 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,318,125 |
| 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, Francis P & Nell A Rhoades Memorial Foundation has awarded $51,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
WAYNE STATE SCHOOL OF MEDICINE PURPOSE: MEDICAL SCHOOL | $15,000 |
WYAN CLINIC WORKING UNINS FD PURPOSE: MEDICAL SUPPORT - UNINSURED/HOMELESS | $12,000 |
Detroit, MI PURPOSE: MEDICAL SUPPORT - UNINSURED/HOMELESS | $10,000 |
ST FRANCIS CABRINI CLINIC PURPOSE: MEDICAL SUPPORT - UNINSURED/HOMELESS | $10,000 |
LA CASA GUADALUPANA PURPOSE: ADULT EDUCATION | $4,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John Joseph Sigstein Foundation Inc Huntington, IN | $0 | $2,327,854 |
Herrick Foundation Detroit, MI | $135,749,323 | $10,836,296 |
Wexner Foundation New Albany, OH | $6,442,852 | $9,976,190 |
We Energies Foundation Inc Milwaukee, WI | $74,423,525 | $6,027,785 |
The Samuel And Jean Frankel Fine Arts Foundation Bloomfield Hills, MI | $136,493,173 | $6,844,673 |
Bill & Julia Van Domelen Foundation Kalamazoo, MI | $132,053,109 | $12,849,321 |
Hcs Foundation Cleveland, OH | $105,976,263 | $7,902,405 |
Manoogian Simone Foundation Dearborn, MI | $47,087,292 | $4,923,874 |
Consumers Energy Foundation Jackson, MI | $77,869,075 | $10,169,744 |
The Ceres Trust Milwaukee, WI | $8,473,497 | $7,541,315 |
New Jci Foundation Inc Milwaukee, WI | $45,616,522 | $3,307,387 |
Marge & Charles J Schott Foundation Cincinnati, OH | $96,968,868 | $11,169,832 |