Mitchell P Rales Family Foundation
- Assets
- $331.4k
- Revenue
- $2.0m
- Investments
- $151.7k
- Employees
- 0
- Location
- Potomac, MD
- Founding
- 03/1995
- Data as of
- 12/2020
- EIN
- 54-1739159
Organization Overview
Mitchell P Rales Family Foundation is located in Potomac, MD. The organization was established in 1995. 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. Mitchell P Rales Family 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 12/2020, Mitchell P Rales Family Foundation generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (40.3%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (39.0%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mitchell P Rales Family Foundation has awarded 39 individual grants totaling $3,107,409. 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
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MADE CASH AND NONCASH CONTRIBUTIONS TO PRE-SELECTED CHARITABLE ORGANIZATIONS OF $1,350,011.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitchell P Rales Chairman/director | 1 | $0 | |
Matthew J Rales Vice President | 1 | $0 | |
Rachel L S Plumley Secretary/treasurer | 1 | $0 | |
Amanda F Rales Vice President | 1 | $0 | |
C Scott Brannan President | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,814,290 |
| Interest on Savings | $62 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $197,051 |
| Capital Gain Net Income | $197,051 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,011,403 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,000 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $24 |
| Total operating and administrative expenses | $1,024 |
| Contributions, gifts, grants paid | $1,757,398 |
| Total expenses and disbursements | $1,758,422 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,489 |
| Savings and temporary cash investments | $148,233 |
| 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 | $0 |
| Total assets | $331,382 |
| 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, Mitchell P Rales Family Foundation has awarded $1,350,011 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
Bethesda, MD PURPOSE: EDUCATIONAL SUPPORT | $1,042,036 |
MT DESERT 365 PURPOSE: GENERAL SUPPORT | $206,389 |
Oxford, OH PURPOSE: EDUCATIONAL SUPPORT | $47,486 |
NEW YORK STEM CELL FOUNDATION PURPOSE: GENERAL SUPPORT | $10,000 |
Seal Harbor, ME PURPOSE: GENERAL SUPPORT | $10,000 |
Topsham, ME PURPOSE: GENERAL SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lor Foundation Inc West Chester, PA | $352,392,197 | $12,888,892 |
Grable Foundation Pittsburgh, PA | $386,701,292 | $35,946,563 |
Connelly Foundation West Conshohocken, PA | $387,913,026 | $27,891,431 |
The Abell Foundation Inc Baltimore, MD | $398,354,670 | $42,510,470 |
Cognizant Us Foundation Washington, DC | $53,711,221 | $1,081,755 |
Bay And Paul Foundations Inc Wilmington, DE | $33,659,644 | $890,121 |
Susquehanna Foundation Bala Cynwyd, PA | $640,733,550 | $61,262,452 |
Operating Engineers Trust Fund Of Washington D C & Vicinity Sparks, MD | $40,754,444 | $17,999,357 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
E Rhodes And Leona B Carpenter Foundation Radnor, PA | $250,926,779 | $43,460,229 |
Kahlert Foundation Inc Sykesville, MD | $93,179,960 | $19,162,440 |
Posner Foundation Of Pittsburgh Pittsburgh, PA | $0 | $20,216,193 |