Rhodes Family Foundation
- Assets
- $35.0m
- Revenue
- $8.2m
- Investments
- $35.0m
- Employees
- 0
- Location
- Garden City, NY
- Founding
- 09/2017
- Data as of
- 12/2023
- EIN
- 81-0857352
Organization Overview
Rhodes Family Foundation is located in Garden City, NY. The organization was established in 2017. 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. Rhodes Family 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 12/2023, Rhodes Family Foundation generated $8.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 30.2% each year . All expenses for the organization totaled $2.1m during the year ending 12/2023. While expenses have increased by 36.2% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William C Rhodes III Director/president | 1 | $0 | |
Amy P Rhodes Director/secretary | 1 | $0 | |
Harvey F Greer Jr Director/treasurer | 1 | $0 | |
Madison Rhodes Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $7,540,577 |
| Interest on Savings | $0 |
| Dividends & Interest | $504,324 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$104,775 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $299,145 |
| Total Revenue | $8,239,271 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $31,091 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $79,995 |
| Total operating and administrative expenses | $119,586 |
| Contributions, gifts, grants paid | $2,022,390 |
| Total expenses and disbursements | $2,141,976 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $60,458 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $35,027,283 |
| 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, Rhodes Family Foundation has awarded $509,311 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY FOUNDATION OF GREATER MEMPHIS PURPOSE: HEALTH/WELFARE | $409,311 |
MASTERS TOURNAMENT FOUNDATION PURPOSE: HEALTH/WELFARE | $100,000 |