Welfare Foundation Inc
- Assets
- $81.1m
- Revenue
- $4.1m
- Investments
- $73.8m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 04/1947
- Data as of
- 12/2022
- EIN
- 51-6015916
Organization Overview
Welfare Foundation Inc is located in Wilmington, DE. The organization was established in 1947. 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. Welfare 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 12/2022, Welfare Foundation Inc generated $4.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $5.8m during the year ending 12/2022. While expenses have increased by 4.0% per year over the past 4 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 2021, Welfare Foundation Inc has awarded 148 individual grants totaling $13,564,116. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert H Bolling III Trustee | 1 | $0 | |
William L Kitchel III Treasurer/trustee | 1 | $0 | |
E Bradford Dupont Jr Chairman/trustee | 1 | $0 | |
Leatrice D Elliman Secretary/trustee | 1 | $0 | |
Avery Stabler Travis Trustee | 1 | $0 | |
W Laird Stabler Vice President/trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Monticello Associates | 12/30/22 | $175,000 |
Wellington Management Company Llp | 12/30/22 | $66,371 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,140,189 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,516,069 |
| Capital Gain Net Income | $2,516,069 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $465,712 |
| Total Revenue | $4,121,970 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $228,489 |
| Other employee salaries and wages | $74,960 |
| Pension plans, employee benefits | $98,165 |
| Interest | $0 |
| Taxes | $47,905 |
| Depreciation | $6,502 |
| Occupancy | $12,200 |
| Travel, conferences, and meetings | $5,117 |
| Printing and publications | $0 |
| Other expenses | $76,493 |
| Total operating and administrative expenses | $1,010,690 |
| Contributions, gifts, grants paid | $4,767,890 |
| Total expenses and disbursements | $5,778,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $287,789 |
| Savings and temporary cash investments | $6,565,386 |
| Net Accounts receivable | $61,303 |
| 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 | $139,003 |
| Net Investments - land, buildings, equipment | $127,983 |
| Investments—mortgage loans | $0 |
| Investments—other | $58,125,279 |
| Net Land, buildings, and equipment | $94,060 |
| Other assets | $0 |
| Total assets | $81,115,330 |
| Accounts payable and accrued expenses | $67,505 |
| Grants payable | $1,280,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $193,018 |
| Total liabilities | $1,540,523 |
Grants Awarded
Over the last fiscal year, Welfare Foundation Inc has awarded $6,632,890 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
4 YOUTH PRODUCTIONS INC PURPOSE: TECHNOLOGY EQUIPMENT UPGRADE | $24,500 |
1 IN 7B FOUNDATION PURPOSE: 1IN7B MOBILE SHOWER-LAUNDRY TRAILER | $60,000 |
A BETTER CHANCE FOR OUR CHILDREN INC PURPOSE: POST PERMANENCY SPECIALIST POSITION | $40,000 |
ACADEMIA ANTONIA ALONSO CHARTER SCHOOL PURPOSE: AAACS EXPANSION: RESOURCES NEEDED | $150,000 |
ARCHMERE ACADEMY PURPOSE: ENSURING STUDENT SUCCESS POST-PANDEMIC | $100,000 |
ASPIRA OF DELAWARE PURPOSE: ASPIRA ACADEMY HIGH SCHOOL ROOF PROJECT | $150,000 |