R Michael Rhoades Foundation
- Assets
- $2.9m
- Revenue
- $159.4k
- Investments
- $1.2k
- Employees
- 0
- Location
- Wichita, KS
- Founding
- 12/1992
- Data as of
- 12/2023
- EIN
- 48-1122054
Organization Overview
R Michael Rhoades Foundation is located in Wichita, KS. The organization was established in 1992. 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. R Michael Rhoades 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 12/2023, R Michael Rhoades Foundation generated $159.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.1%) each year. All expenses for the organization totaled $140.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (9.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, R Michael Rhoades Foundation has awarded 20 individual grants totaling $815,369. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FINANCIAL AID TO DESIGNATED 501(C)(3) BENEFICIARIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT TO DESIGNATED 501(C)(3) ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard L Morrow CPA Cgma Trustee | OfficerTrustee | 2 | $12,000 |
Joseph Robb Trustee | OfficerTrustee | 2 | $12,000 |
Michael Sizemore Trustee | OfficerTrustee | 2 | $12,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $99,948 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $59,436 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $159,384 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $102,148 |
| 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. | $36,000 |
| Compensation of current officers, directors, key employees. | $36,000 |
| 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 | $0 |
| Fees for services: Accounting | $850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $1,050 |
| All other expenses | $0 |
| Total functional expenses | $140,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $121,986 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,807,495 |
| Investments—other securities | $1,163 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,930,644 |
| 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 | $2,930,644 |
| 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 | $2,930,644 |
Grants Awarded
Over the last fiscal year, R Michael Rhoades Foundation has awarded $102,148 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
NEWTON FINE ARTS ASSOCIATION INCCARRIAGE FACTORY ART GALLERY PURPOSE: ARTS | $10,200 |
KS STATE UNIVERSITY FOUNDATION PURPOSE: PROVIDE SCHOLARSHIPS | $11,544 |
HARVEY COUNTY PURPOSE: PUBLIC PARKS | $10,000 |
KU ENDOWMENT PURPOSE: PROVIDE SCHOLARSHIPS | $40,404 |
KANSAS ALLIANCE FOR WETLANDS ANDSTREAMS INC PURPOSE: WETLAND PARK | $30,000 |