Quantum Foundation Inc
- Assets
- $185.2m
- Revenue
- $17.3m
- Investments
- $180.9m
- Employees
- 0
- Location
- West Palm Beach, FL
- Founding
- 03/1959
- Data as of
- 12/2021
- EIN
- 59-0812783
Organization Overview
Quantum Foundation Inc is located in West Palm Beach, FL. The organization was established in 1959. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Quantum 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, Quantum Foundation Inc generated $17.3m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 16.6% each year . All expenses for the organization totaled $9.5m during the year ending 12/2021. While expenses have increased by 4.8% per year over the past 3 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, Quantum Foundation Inc has awarded 669 individual grants totaling $17,853,262. 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 |
|---|---|---|---|
Eric M Kelly President | 40 | $315,506 | |
Joe Paskoski Cfo/vp Of Administration | 40 | $235,010 | |
Randy Scheid Chief Strategy Officer | 40 | $176,746 | |
Brian Kirkpatrick Chairman | 2 | $0 | |
Dr Ronald Romear Vice Chair | 2 | $0 | |
Daniel Alberttis Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $5,628,063 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $11,385,797 |
| Capital Gain Net Income | $7,623,676 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $278,265 |
| Total Revenue | $17,292,125 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,037,005 |
| Other employee salaries and wages | $67,855 |
| Pension plans, employee benefits | $150,018 |
| Interest | $0 |
| Taxes | $268,705 |
| Depreciation | $9,672 |
| Occupancy | $749,939 |
| Travel, conferences, and meetings | $10,355 |
| Printing and publications | $0 |
| Other expenses | $643,870 |
| Total operating and administrative expenses | $3,528,649 |
| Contributions, gifts, grants paid | $5,944,984 |
| Total expenses and disbursements | $9,473,633 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $518,975 |
| Savings and temporary cash investments | $3,693,890 |
| 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 | $96,156 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $62,964,732 |
| Net Land, buildings, and equipment | $36,571 |
| Other assets | $0 |
| Total assets | $185,235,492 |
| Accounts payable and accrued expenses | $194,226 |
| Grants payable | $1,872,408 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $669,031 |
| Total liabilities | $2,735,665 |
Grants Awarded
Over the last fiscal year, Quantum Foundation Inc has awarded $5,482,849 in support to 209 organizations.
| Grant Recipient | Amount |
|---|---|
211 PALM BEACHTREASURE COAST PURPOSE: GENERAL FUNDING | $50,000 |
A BARRY SAFE PLACE PURPOSE: GENERAL FUNDING | $5,000 |
A DIFFERENT SHADE OF LOVE PURPOSE: GENERAL FUNDING | $5,000 |
A&A WORKFORCE INC PURPOSE: GENERAL FUNDING | $5,500 |
ADELINE LUCAS FOUNDATION PURPOSE: GENERAL FUNDING | $5,000 |
AFRICAN AMERICAN RESEARCH LIBRARY & CC PURPOSE: GENERAL FUNDING | $7,000 |