Philip E And Carole R Ratcliffe Foundation Inc
- Assets
- $79.6m
- Revenue
- $1.7m
- Investments
- $76.0m
- Employees
- 0
- Location
- Annapolis, MD
- Founding
- 02/2003
- Data as of
- 12/2021
- EIN
- 82-0568453
Organization Overview
Philip E And Carole R Ratcliffe Foundation Inc is located in Annapolis, MD. The organization was established in 2003. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Philip E And Carole R Ratcliffe 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, Philip E And Carole R Ratcliffe Foundation Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $5.8m during the year ending 12/2021. While expenses have increased by 12.2% per year over the past 7 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 2016, Philip E And Carole R Ratcliffe Foundation Inc has awarded 118 individual grants totaling $42,820,022. 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 |
|---|---|---|---|
James D Wright President | 5 | $75,000 | |
Tina Davenport Trustee | 5 | $60,000 | |
James A Clauson Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morgan Stanley | 12/30/21 | $130,661 |
Merrill Lynch | 12/30/21 | $130,182 |
Goldman Sacs | 12/30/21 | $98,640 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $247,798 |
| Dividends & Interest | $984,395 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $490,012 |
| Capital Gain Net Income | $490,012 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $10,238 |
| Total Revenue | $1,732,443 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $135,000 |
| Other employee salaries and wages | $194,251 |
| Pension plans, employee benefits | $41,768 |
| Interest | $0 |
| Taxes | $60,048 |
| Depreciation | $986 |
| Occupancy | $28,029 |
| Travel, conferences, and meetings | $10,220 |
| Printing and publications | $0 |
| Other expenses | $46,331 |
| Total operating and administrative expenses | $1,020,032 |
| Contributions, gifts, grants paid | $4,757,000 |
| Total expenses and disbursements | $5,777,032 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,826,270 |
| 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 | $22,276 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $59,712 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $19,108,610 |
| Net Land, buildings, and equipment | $677,863 |
| Other assets | $4,765 |
| Total assets | $79,583,237 |
| Accounts payable and accrued expenses | $1,064 |
| Grants payable | $14,049,863 |
| Deferred revenue | $1,368 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $14,052,295 |
Grants Awarded
Over the last fiscal year, Philip E And Carole R Ratcliffe Foundation Inc has awarded $8,987,990 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
FERRY COVE SHELLFISH GRANT PURPOSE: UNRESTRICTED USE BY RECIPIENT | $1,500,000 |
HARFORD COMMUNITY COLLEGE PURPOSE: UNRESTRICTED USE BY RECIPIENT | $960,000 |
MARYLAND INSTITUE COLLEGE OF ART PURPOSE: UNRESTRICTED USE BY RECIPIENT | $882,000 |
MIAMI CORE '20 PURPOSE: UNRESTRICTED USE BY RECIPIENT | $666,666 |
Miami, FL PURPOSE: UNRESTRICTED USE BY RECIPIENT | $625,000 |
HARFORD COMMUNITY COLLEGE PURPOSE: UNRESTRICTED USE BY RECIPIENT | $540,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
Crystal Trust Ua Dtd 12-25-47 Irenee Dupont Jr Ttee Montchanin, DE | $288,226,063 | $32,506,410 |
Morgridge Family Foundation Wilmington, DE | $205,419,134 | $22,580,458 |
GDS Legacy Foundation Inc Wilmington, DE | $0 | $575,846 |
De Beaumont Foundation Inc Bethesda, MD | $183,698,152 | $47,357,470 |
Foundation For The Greatest Good Fulton, MD | $11,551,864 | $19,462,876 |
Young Mens Christian Association Of The Chesapeake Inc Easton, MD | $84,208,847 | $28,289,184 |
Living Legacy Foundation Wilmington, DE | $129,501,628 | $9,577,224 |
Zachary Smith Reynolds Trust Pittsburgh, PA | $187,892,547 | $20,789,622 |
Laszlo N Tauber Family Foundation Inc North Bethesda, MD | $0 | $1,758,712 |
Breakthrough Prize In Life Sciences Foundation Washington, DC | $615,230 | $10,652,847 |