Reesspecht Life Foundation Inc
- Assets
- $32.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Sound Beach, NY
- Founding
- 08/2014
- Data as of
- 12/2021
- EIN
- 46-3879296
Organization Overview
Reesspecht Life Foundation Inc is located in Sound Beach, NY. 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. Reesspecht Life Foundation Inc 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, Reesspecht Life Foundation Inc generated $37.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.3%) each year. All expenses for the organization totaled $70.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
TO PROVIDE BENEVOLENT ASSISTANCE TO INDIVIDUALS OR ORGANIZATIONS THAT DEMONSTRATE A COMMITMENT TO REESSPECHT LIFE FOUNDATION'S ("THE FOUNDATION'S") IDEALS OF COMMUNITY, COMPASSION AND RESPECT. BENEVOLENT ASSISTANCE WILL PRIMARILY TAKE THE FORM OF MONETARY ASSISTANCE (I.E. SCHOLARSHIPS OR DONATIONS) TO INDIVIDUALS OR ORGANIZATIONS, BUT MAY ALSO INCLUDE DONATIONS OF FOOD AND OTHER SUNDRIES. THE FOUNDATION WILL GENERATE FUNDS THROUGH RECEIPT OF GENERAL CONTRIBUTIONS, THE PRODUCTION AND SALE OF ITS "PAY IT FORWARD" CARDS AND THE PRODUCTION AND SALE OF A CHILDREN'S BOOK THAT ILLUSTRATES THE FOUNDATION'S CORE IDEALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Specht Founder And CEO | 40 | $46,539 | |
Bobby Hazen Board Member | 1 | $0 | |
Claudia Carpenter Board Member | 1 | $0 | |
Melina Ruck Treasurer/secretary | 1 | $0 | |
Samantha Specht Vice President | 1 | $0 | |
James Schiraldi President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,790 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $37,790 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $48,282 |
| Professional fees and other payments to independent contractors | $6,998 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $890 |
| Other expenses | $14,354 |
| Total expenses | $70,524 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $32,363 |
| Other assets | $0 |
| Total assets | $32,363 |
| Total liabilities | $72,982 |
| Net assets or fund balances | -$40,619 |
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