Richard E Phelps Sr Foundation
- Assets
- $1.9m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Leclaire, IA
- Founding
- 02/2013
- Data as of
- 12/2022
- EIN
- 46-1509028
Organization Overview
Richard E Phelps Sr Foundation is located in Leclaire, IA. The organization was established in 2013. 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. Richard E Phelps Sr 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 12/2022, Richard E Phelps Sr Foundation generated $1.9m in total revenue.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS - THE FOUNDATION RECEIVED INITIAL FUNDING FOLLOWING THE DEATH OF RICHARD E. PHELPS SR AT THE END OF 2022. ADDITIONAL FUNDING IS ANTICIPATED IN 2023 AND 2024 FOLLOWING CLEARANCE OF FEDERAL AND STATE ESTATE TAX RETURNS. CHARITABLE GIFTS WOULD BEGIN TO BE MADE IN THE FORM OF CASH DISTRIBUTIONS TO 501C3 CHARITABLE INSTITUTIONS LOCATED IN THE SCOTT COUNTY IOWA GEOGRAPHIC AREA FOR USE BY THE SELECTED INSTITUTIONS IN FURTHERANCE OF ITS CHARITABLE MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maryann Bartz Secretary Treasurer And Director | 0.1 | $0 | |
Michael A Detmer President And Director | 0.1 | $0 | |
Glen A Phelps Vice President And Director | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,947,405 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,947,405 |
| 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 | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $1,947,405 |
| 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 | $1,947,405 |
| 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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|---|---|---|
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The Hagan Scholarship Foundation Columbia, MO | $259,194,852 | $64,132,818 |
The Jennings Family Foundation Edina, MN | $20,317,059 | $4,027,228 |
Sunshine Charitable Foundation Libertyville, IL | $0 | $4,219,972 |
Tracy Family Foundation Mt Sterling, IL | $19,754,710 | $6,714,098 |
Chicagobeyond Inc Chicago, IL | $1,837,444 | $0 |
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Anahata Foundation Chicago, IL | $150,849,919 | $3,685,553 |
Kaena Foundation Minneapolis, MN | $0 | $2,288,902 |