Norman R Rales And Ruth Rales Foundation
- Assets
- $212.2m
- Revenue
- $7.8m
- Investments
- $182.0m
- Employees
- 0
- Location
- Washington, DC
- Founding
- 06/1988
- Data as of
- 11/2023
- EIN
- 59-6874589
Organization Overview
Norman R Rales And Ruth Rales Foundation is located in Washington, DC. The organization was established in 1988. 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. Norman R Rales And Ruth Rales 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 11/2023, Norman R Rales And Ruth Rales Foundation generated $7.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (15.7%) each year. All expenses for the organization totaled $16.3m during the year ending 11/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Norman R Rales And Ruth Rales Foundation has awarded 99 individual grants totaling $57,667,604. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven M Rales Trustee | 1 | $0 | |
Mitchell P Rales Trustee | 1 | $0 | |
Joshua B Rales Trustee & President | 40 | $305,000 | |
Joseph O Bunting III Vice President & Treasurer | 1 | $0 | |
Mary W Dunn Secretary | 5 | $0 | |
Teresa Lc Baldwin Assistant Treasurer/secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,746,563 |
| Dividends & Interest | $2,277,993 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,817,399 |
| Capital Gain Net Income | $1,817,399 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $7,841,955 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $608,200 |
| Other employee salaries and wages | $308,000 |
| Pension plans, employee benefits | $167,662 |
| Interest | $0 |
| Taxes | $1,431,650 |
| Depreciation | $2,260 |
| Occupancy | $92,926 |
| Travel, conferences, and meetings | $94,649 |
| Printing and publications | $1,625 |
| Other expenses | $59,112 |
| Total operating and administrative expenses | $2,837,956 |
| Contributions, gifts, grants paid | $13,425,788 |
| Total expenses and disbursements | $16,263,744 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $30,116,277 |
| 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 | $34,554,257 |
| Net Land, buildings, and equipment | $1,217 |
| Other assets | $0 |
| Total assets | $212,153,902 |
| Accounts payable and accrued expenses | $3,668 |
| 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 | $3,668 |
Grants Awarded
Over the last fiscal year, Norman R Rales And Ruth Rales Foundation has awarded $13,425,788 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN FOUNDATION FOR SUICIDE PREVENTION PURPOSE: GENERAL SUPPORT | $5,000 |
CONQUER CANCER FDN OF THE AMERICAN SOCIETY OF CLINICAL ONCOLOGY PURPOSE: GENERAL SUPPORT | $115,000 |
INGENUITY PREP PURPOSE: EDUCATIONAL SUPPORT | $24,300 |
JEWISH COMMUNITY CENTER OF NORTHERN VIRGINIA INC PURPOSE: GENERAL SUPPORT | $25,000 |
JEWISH FEDERATION OF GREATER WASHINGTON INC PURPOSE: GENERAL SUPPORT | $10,000 |
MONTGOMERY COUNTY PUBLIC SCHOOLS EDUCATIONAL FOUNDATION INC PURPOSE: EDUCATIONAL SUPPORT | $2,000,000 |