Otto & Edna Neely Foundation
- Assets
- $15.2m
- Revenue
- $433.9k
- Investments
- $14.9m
- Employees
- 0
- Location
- Gilbert, AZ
- Founding
- 02/1988
- Data as of
- 12/2023
- EIN
- 86-0581770
Organization Overview
Otto & Edna Neely Foundation is located in Gilbert, AZ. 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. Otto & Edna Neely 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, Otto & Edna Neely Foundation generated $433.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (23.0%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Otto & Edna Neely Foundation has awarded 548 individual grants totaling $7,549,168. 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
BENEVOLENCE TO PROVIDE SHELTER TO THE INDIGENT.
SCHOLARSHIPS PAID DIRECTLY TO STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cliff Saylor President | 4 | $34,000 | |
Gregory L Bamford Treasurer | 4 | $48,400 | |
Shelley Nelson Director | 2 | $13,585 | |
Steven D Todd Vice President | 2 | $24,000 | |
Walter Delecki Vice President | 2 | $11,400 | |
John C Gemmill Director | 2 | $11,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $12,418 |
| Dividends & Interest | $175,942 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $239,176 |
| Capital Gain Net Income | $239,176 |
| Net ST Capital Gain | $3,492 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $6,361 |
| Total Revenue | $433,897 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $155,185 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,318 |
| Depreciation | $0 |
| Occupancy | $29,456 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $11,431 |
| Total operating and administrative expenses | $345,806 |
| Contributions, gifts, grants paid | $822,225 |
| Total expenses and disbursements | $1,168,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,133 |
| Savings and temporary cash investments | $301,747 |
| 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 | $15,247,456 |
| 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, Otto & Edna Neely Foundation has awarded $822,225 in support to 52 organizations.
| Grant Recipient | Amount |
|---|---|
100 CLUB OF ARIZONA PURPOSE: COMMUNITY SERVICE GRANT | $5,000 |
AMANDA HOPE RAINBOW ANGELS PURPOSE: HEALTH SERVICES GRANT | $10,000 |
ARIZONA CACTUS PINE GIRLS SCOUTS PURPOSE: UNRESTRICTED | $5,000 |
ARIZONA OUTDOOR ADVENTURES PURPOSE: COMMUNITY SERVICE GRANT | $10,000 |
ARIZONIANS FOR CHILDREN PURPOSE: COMMUNITY SERVICE GRANT | $5,000 |
ARIZONA STATE UNIVERSITY PURPOSE: SCHOLARSHIPS | $100,589 |