Welaf Foundation Incorporated
- Assets
- $234.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Surfside, FL
- Founding
- 02/2019
- Data as of
- 12/2023
- EIN
- 83-2701451
Organization Overview
Welaf Foundation Incorporated is located in Surfside, FL. The organization was established in 2019. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, 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. Welaf Foundation Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE WELAF FOUNDATION IS TO SERVE THOSE MOST IN NEED IN OUR LOCAL, NATIONAL AND GLOBAL COMMUNITIES. OUR CONCERN IS TO HELP THE MOST VULNERABLE SEGMENTS OF THE POPULATION SUCH AS YOUTH, MINORITIES AND NEWLY ARRIVED IMMIGRANTS WITH THEIR BASIC EDUCATIONAL, HOUSING AND EMPLOYMENT NEEDS. WE WOULD LIKE TO DO THIS BY HELPING PROVIDE FUNDING TO AGENCIES AND ORGANIZATIONS BENEFITTING THE UNDERSERVED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WAS CREATED AT THE VERY END OF 2018. 1 CONTRIBUTION WAS RECEIVED BEFORE YEAR END. FUNDS WILL BE GRANTED TO WORTHY ORGANIZATIONS IN 2019 BASED ON CRITERIA SET BY THE DIRECTORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Wheeler Director | 0.5 | $0 | |
Beatriz Lafuente Wheeler Director | 0.5 | $0 | |
Ariana Wheeler-Lafuente Director | 0.5 | $0 | |
Gabriela Ritchey Director | 0.5 | $0 | |
Roger Rangel-Lafuente Director | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $0 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $0 |
| Contributions, gifts, grants paid | $50,000 |
| Total expenses and disbursements | $50,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,500 |
| 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 | $234,500 |
| 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, Welaf Foundation Incorporated has awarded $85,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICANS FOR IMMIGRANT JUSTICE PURPOSE: GRANT MADE IN SUPPORT OF THE FAMILY DEFENSE PROGRAM. | $50,000 |
WELAF FOUNDATION SCHOLARSHIP AT MIAMI DADE COLLEGE PURPOSE: THE GRANT WILL PROVIDE ESSENTIAL SCHOLARSHIP SUPPORT TO MINORITY AND NEWLY ARRIVED IMMIGRANT STUDENTS SEEKING TO MAKE A DIFFERENCE IN THEIR LIVES THROUGH THE OPPORTUNITY OF AN EDUCATION. | $10,000 |
UNIVERSITY OF MIAMI PURPOSE: THE GRANT WILL BE USED TO PROVIDE FUNDING FOR UNDERGRADUATE INTERNATIONAL STUDENTS ENROLLED IN THE SONHS WHO FACE UNEXPECTED HARDSHIPS DUE TO NATURAL DISASTER OR CIVIL UNREST IN THEIR HOME COUNTRIES RESULTING IN ADDITIONAL FINANCIAL STRAIN. | $25,000 |