Wedge Foundation Inc
- Assets
- $5.8m
- Revenue
- $429.9k
- Investments
- $3.2m
- Employees
- 0
- Location
- Louisville, KY
- Founding
- Data as of
- 12/2022
- EIN
- 84-5012797
Organization Overview
Wedge Foundation Inc is located in Louisville, KY. 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. Wedge 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 12/2022, Wedge Foundation Inc generated $429.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (56.9%) each year. All expenses for the organization totaled $842.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Wedge Foundation Inc has awarded 23 individual grants totaling $648,482. 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 |
|---|---|---|---|
Paul Wedge III President | 4 | $123,000 | |
Jody Wedge Director | 2 | $36,000 | |
Paul Wedge Director | 1 | $40,000 | |
Baylor Wedge Director | 1 | $2,000 | |
Lilly Wedge Director | 1 | $2,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $119,486 |
| Net Rental Income | $2,179 |
| 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 | -$5,214 |
| Total Revenue | $429,884 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $203,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $43,555 |
| Taxes | $30,878 |
| Depreciation | $98,364 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $194,268 |
| Total operating and administrative expenses | $573,015 |
| Contributions, gifts, grants paid | $269,232 |
| Total expenses and disbursements | $842,247 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,486 |
| 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 | $34,681 |
| Net Land, buildings, and equipment | $2,565,945 |
| Other assets | $0 |
| Total assets | $5,770,701 |
| 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 | $902,505 |
| Total liabilities | $902,505 |
Grants Awarded
Over the last fiscal year, Wedge Foundation Inc has awarded $269,232 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF KENTUCKY PURPOSE: FINANCIAL SUPPORT | $167,982 |
ST XAVIER HIGH SCHOOL PURPOSE: FINANCIAL SUPPORT | $10,000 |
UNIVERSITY OF ALABAMA PURPOSE: FINANCIAL SUPPORT | $10,000 |
DAVIS LOVE FOUNDATION PURPOSE: FINANCIAL SUPPORT | $23,500 |
UNIVERSITY OF GEORGIA PURPOSE: FINANCIAL SUPPORT | $10,000 |
CYSTIC FIBROSIS FOUNDATION PURPOSE: FINANCIAL SUPPORT | $3,500 |