The Benedict Foundation For Independent Schools
- Assets
- $3.6m
- Revenue
- $139.3k
- Investments
- $3.2m
- Employees
- 0
- Location
- Vero Beach, FL
- Founding
- 05/1984
- Data as of
- 12/2023
- EIN
- 59-2383209
Organization Overview
The Benedict Foundation For Independent Schools is located in Vero Beach, FL. The organization was established in 1984. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Benedict Foundation For Independent Schools 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 12/2023, Benedict Foundation For Independent Schools generated $139.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (13.4%) each year. All expenses for the organization totaled $279.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Benedict Foundation For Independent Schools has awarded 31 individual grants totaling $840,000. 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 |
|---|---|---|---|
Peter B Benedict II President | 3 | $0 | |
Davis M Benedict Vice President | 3 | $0 | |
Randall D Corwin Secretary | 3 | $0 | |
Mark Vosskamp Treasurer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $168,078 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$29,854 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,100 |
| Total Revenue | $139,324 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $44 |
| Taxes | $2,692 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,568 |
| Total operating and administrative expenses | $29,127 |
| Contributions, gifts, grants paid | $250,000 |
| Total expenses and disbursements | $279,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $354,850 |
| Savings and temporary cash investments | $0 |
| 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 | $419,730 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,592,118 |
| 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, The Benedict Foundation For Independent Schools has awarded $250,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
INDIAN RIVER LAND TRUST PURPOSE: UNRESTRICTED | $20,000 |
MCKEE BOTANICAL GARDENS PURPOSE: UNRESTRICTED | $50,000 |
OCEAN RESEARCH AND CONSERVATION ASSOCIATION PURPOSE: UNRESTRICTED | $20,000 |
REFLECTION RIDING ARBORETUM AND NATURE CENTER PURPOSE: UNRESTRICTED | $15,000 |
YOUTH SAILING FOUNDATION OF IRC PURPOSE: UNRESTRICTED | $125,000 |
THE LEARNING ALLIANCE PURPOSE: UNRESTRICTED | $20,000 |