Rich Foundation Inc
- Assets
- $55.2m
- Revenue
- $1.6m
- Investments
- $54.5m
- Employees
- 0
- Location
- Atlanta, GA
- Founding
- 09/1949
- Data as of
- 01/2023
- EIN
- 58-6038037
Organization Overview
Rich Foundation Inc is located in Atlanta, GA. The organization was established in 1949. 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. Rich 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 01/2023, Rich Foundation Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $2.9m during the year ending 01/2023. While expenses have increased by 2.7% 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 2020, Rich Foundation Inc has awarded 177 individual grants totaling $9,388,165. 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 |
|---|---|---|---|
Thomas J Asher President | 20 | $1,000 | |
L Anthony Montag Treasurer | 1 | $1,000 | |
Dr Juliet Asher Golden Vice Chair/secretary | 1 | $1,000 | |
John L Montag Chair | 0.5 | $1,000 | |
Trudy B Kremer Vice Chair | 0.5 | $1,000 | |
Deva A Hirsch Executive Director | 40 | $159,712 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $911,784 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $704,445 |
| Capital Gain Net Income | $704,445 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,617,229 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $164,712 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $38,289 |
| Interest | $0 |
| Taxes | $62,075 |
| Depreciation | $0 |
| Occupancy | $24,111 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $56,752 |
| Total operating and administrative expenses | $459,559 |
| Contributions, gifts, grants paid | $2,485,805 |
| Total expenses and disbursements | $2,945,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $751,870 |
| 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 | $257,168 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2 |
| Total assets | $55,223,424 |
| 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, Rich Foundation Inc has awarded $2,485,805 in support to 53 organizations.
| Grant Recipient | Amount |
|---|---|
ALTANTA HISTORICAL SOCIETY INC PURPOSE: GENERAL OPERATING | $116,375 |
ALTANTA SPEECH SCHOOL PURPOSE: GENERAL OPERATING | $100,000 |
ALTANTA VOLUNTEER LAWYERS FOUNDATION PURPOSE: GENERAL OPERATING | $50,000 |
ANTI-DEFAMATION LEAGUE PURPOSE: GENERAL OPERATING | $50,000 |
ANDREW P STEWART CENTER PURPOSE: GENERAL OPERATING | $33,000 |
ATLANTA EDUCATIONAL FOR WABE PURPOSE: GENERAL OPERATING | $100,000 |