Drg Foundation
- Assets
- $7.2m
- Revenue
- $986.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Corte Madera, CA
- Founding
- 07/2014
- Data as of
- 12/2022
- EIN
- 46-3699756
Organization Overview
Drg Foundation is located in Corte Madera, CA. The organization was established in 2014. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Drg 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, Drg Foundation generated $986.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.4% each year . All expenses for the organization totaled $119.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Drg Foundation has awarded 17 individual grants totaling $719,950. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS DEDICATED TO PROVIDING FINANCIAL SUPPORT TO BAY AREA STUDENTS WHO ARE PASSIONATE ABOUT ACADEMICS, ATHLETICS, AND THE ARTS. THE DRG FOUNDATION PROVIDES GRANTS TO MARIN CATHOLIC HIGH SCHOOL IN MARIN, CALIFORNIA, SAN DOMENICO SCHOOL IN SAN ANSELMO, CALIFORNIA, AND THE UNIVERSITY OF MIAMI IN MIAMI, FLORIDA, SPECIFICALLY ALLOCATED FOR STUDENT SCHOLARSHIPS. FURTHERMORE, WE SUPPORT ART AND ATHLETIC PROGRAMS, AND CONTRIBUTE TO ART AND ATHLETIC FACILITY ENHANCEMENTS THROUGHOUT THE SAN FRANCISCO BAY AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION GAVE GRANTS TO FOUR LOCAL ORGANIZATIONS, INCLUDING TWO SCHOOLS, FOR THE PROMOTION OF MUSIC, ART AND PHYSICAL EDUCATION. TWO GRANT PAYMENTS TOTALING $55,00 WERE SPECIFICALLY FOR ONE SCHOOL TO HIRE AN ART TEACHER AND A RESOURCE TEACHER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Ghilotti President | OfficerTrustee | 2 | $0 |
Greg Choma Director | Trustee | 4 | $0 |
William Ghilotti Director | Trustee | 2.5 | $0 |
Rochelle Ghilotti Director | Trustee | 1 | $0 |
Michelle Ghilotti Mandel Secretary | OfficerTrustee | 2.5 | $0 |
Josh Mandel Director | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $228,497 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $55,659 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $284,156 |
| Total Program Service Revenue | $0 |
| Investment income | $6,282 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $838,883 |
| Net Income from Fundraising Events | -$143,282 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $986,039 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $77,000 |
| 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 | $6,900 |
| Fees for services: Accounting | $552 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,768 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,321 |
| Office expenses | $965 |
| Information technology | $500 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,507 |
| Insurance | $1,519 |
| All other expenses | $0 |
| Total functional expenses | $118,979 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $819,720 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,843 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,952 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $163,882 |
| Investments—publicly traded securities | $6,042,364 |
| Investments—other securities | $0 |
| Investments—program-related | $189,500 |
| Intangible assets | $1,250 |
| Other assets | $0 |
| Total assets | $7,239,511 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $7,239,511 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $7,239,511 |
Grants Awarded
Over the last fiscal year, Drg Foundation has awarded $75,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HORIZON COMMUNITY SCHOOL PURPOSE: Capital project | $10,000 |
NARADA MICHAEL WALDEN FOUNDAT PURPOSE: Music Education | $10,000 |
OUR LADY OF LORETTO SCHOOL PURPOSE: Art program and resource teacher | $55,000 |