Spruance Foundation I
- Assets
- $2.5m
- Revenue
- $192.0k
- Investments
- $1.9m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 02/1994
- Data as of
- 12/2022
- EIN
- 51-0351914
Organization Overview
Spruance Foundation I is located in Wilmington, DE. The organization was established in 1994. 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. Spruance Foundation I 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, Spruance Foundation I generated $192.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $259.2k during the year ending 12/2022. While expenses have increased by 7.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Spruance Foundation I has awarded 69 individual grants totaling $1,540,500. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $847 |
| Dividends & Interest | $95,546 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $95,290 |
| Capital Gain Net Income | $2,649 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $273 |
| Total Revenue | $191,956 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,122 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10 |
| Total operating and administrative expenses | $9,242 |
| Contributions, gifts, grants paid | $250,000 |
| Total expenses and disbursements | $259,242 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $526,010 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $510 |
| Total assets | $2,471,610 |
| 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, Spruance Foundation I has awarded $250,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL CHRISTIAN FOUNDATION PURPOSE: RELIGIOUS FOUNDATION SUPPORT | $130,000 |
ZOO MIAMI FOUNDATION PURPOSE: ZOO AND ANIMAL EDUCATION | $15,000 |
EMBRY-RIDDLE AERONAUTICAL UNIVERSITY PURPOSE: SUPPORT AERONAUTICAL RESEARCH | $15,000 |
HENDERSON BEHAVIORAL HEALTH PURPOSE: HEALTHCARE FOR UNDERPRIVILEDGED | $15,000 |
TUNNELS TO TOWERS PURPOSE: FIRST RESPONDER SUPPORT | $15,000 |
WOUNDED WARRIOR PROJECT PURPOSE: VETERAN SUPPORT | $15,000 |