Patterson Family Foundation Inc
- Assets
- $6.3m
- Revenue
- $1.8m
- Investments
- $5.9m
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 03/1995
- Data as of
- 12/2021
- EIN
- 58-2145618
Organization Overview
Patterson Family Foundation Inc is located in Wilmington, DE. The organization was established in 1995. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Patterson Family 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, Patterson Family Foundation Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 15.6% each year . All expenses for the organization totaled $437.1k during the year ending 12/2021. While expenses have increased by 4.1% per year over the past 6 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 2015, Patterson Family Foundation Inc has awarded 379 individual grants totaling $1,737,432. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH AND WRITING OF THE BOOK, TENTATIVELY TITLED "THAT ALL MAY BE ONE," BY SOLON AND MARIANNA PATTERSON, AN APPEAL FOR UNITY-REUNIFICATION OF THE CHURCHES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Patterson Trustee | 8 | $20,000 | |
Joseph Peter Patterson Trustee | 4 | $0 | |
John Solon Patterson Trustee | 4 | $0 | |
Marianna R Patterson Sec, Treas | 8 | $0 | |
Solon P Patterson Pres | 16 | $0 | |
Nancy Patterson Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $91,930 |
| Interest on Savings | $1,129 |
| Dividends & Interest | $84,945 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,579,915 |
| Capital Gain Net Income | $1,659,476 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,757,919 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $20,000 |
| Other employee salaries and wages | $6,227 |
| Pension plans, employee benefits | $2,444 |
| Interest | $0 |
| Taxes | $11,560 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $19,976 |
| Printing and publications | $145 |
| Other expenses | $42,471 |
| Total operating and administrative expenses | $142,066 |
| Contributions, gifts, grants paid | $295,030 |
| Total expenses and disbursements | $437,096 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $430,554 |
| 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 | $6,315,142 |
| 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, Patterson Family Foundation Inc has awarded $295,030 in support to 48 organizations.
| Grant Recipient | Amount |
|---|---|
Atlanta, GA PURPOSE: GENERAL & UNRESTRICTED | $25,000 |
Riverdale, GA PURPOSE: ACT/SAT TEST PREP WORKSHOPS AND SOCIAL/EMOTIONAL LEARNING COURSES | $25,000 |
Atlanta, GA PURPOSE: PURPOSE BUILT SCHOOLS ATLANTA (PBSA) | $25,000 |
Atlanta, GA PURPOSE: TECHNOLOGY INITIATIVES AND THE LITERACY LAB | $25,000 |
Atlanta, GA PURPOSE: PURPOSE BUILD SCHOOLS ATLANTA (PBSA) | $25,000 |
Atlanta, GA PURPOSE: PROGRAM FOR COLLEGE SUCCESS | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Johnson & Johnson Foundation United States Inc New Brunswick, NJ | $130,108,063 | $92,858,448 |
Diana Davis Spencer Foundation Bethesda, MD | $1,510,145,435 | $31,448,274 |
Davis Family Foundation Hanover, MD | $1,302,672,743 | $64,475,559 |
Walder Family Foundation Wilmington, DE | $215,951,796 | $11,130,940 |
Maguire Foundation West Conshohocken, PA | $0 | $10,846,953 |
Mabel Pew Myrin Trust Philadelphia, PA | $417,886,148 | $39,075,922 |
Max Stenbeck Foundation Wilmington, DE | $3,203,232 | $39,728,528 |
Neubauer Family Foundation Philadelphia, PA | $348,008,962 | $28,614,405 |
Quantitative Foundation Philadelphia, PA | $101,541,098 | -$10,401,387 |
J N Pew Jr Charitable Trust Philadelphia, PA | $309,649,040 | $25,152,087 |
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |