Richard W Erickson Foundation
- Assets
- $11.0m
- Revenue
- $1.2m
- Investments
- $2.9m
- Employees
- 0
- Location
- Kaysville, UT
- Founding
- 12/2000
- Data as of
- 12/2021
- EIN
- 87-0644559
Organization Overview
Richard W Erickson Foundation is located in Kaysville, UT. The organization was established in 2000. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richard W Erickson 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 12/2021, Richard W Erickson Foundation generated $1.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $478.3k during the year ending 12/2021. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM ASSET ACQUISTION AND MAINTENANCE
EDUCATIONAL PROGRAMS
LOCAL CHARITABLE GIVING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Baker Chairman | 30 | $65,375 | |
Pam Williams Secretary | 25 | $20,000 | |
Robert Muir Trustee | 7 | $19,375 | |
Matt Binyon Trustee | 7 | $19,375 | |
Todd Erickson Ranch Manager | 12 | $19,288 | |
Richard Thomas Trustee | 7 | $5,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,213,352 |
| Interest on Savings | $0 |
| Dividends & Interest | $86,601 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$91,186 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $12,620 |
| Total Revenue | $1,221,387 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $153,413 |
| Other employee salaries and wages | $24,492 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $14,472 |
| Depreciation | $32,194 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,664 |
| Printing and publications | $450 |
| Other expenses | $112,595 |
| Total operating and administrative expenses | $461,543 |
| Contributions, gifts, grants paid | $16,745 |
| Total expenses and disbursements | $478,288 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,752,568 |
| 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 | $5,090,373 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,269,959 |
| Other assets | $429 |
| Total assets | $11,045,792 |
| 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 | $347 |
| Total liabilities | $347 |
Grants Awarded
Over the last fiscal year, Richard W Erickson Foundation has awarded $16,745 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CAF UTAH WINGNUTS PURPOSE: GENERAL FINANCIAL SUPPORT | $5,000 |
WASATCH COUNTY PURPOSE: GENERAL FINANCIAL SUPPORT | $4,000 |
TOOLS OF FREEDOM INC - OPERATION KEEP EM ROLLING PURPOSE: GENERAL FINANCIAL SUPPORT | $2,745 |
VIBRANT AMERICA INC PURPOSE: GENERAL FINANCIAL SUPPORT | $2,500 |
HEBER VALLEY RAILROAD PURPOSE: GENERAL FINANCIAL SUPPORT | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Musical Instrument Museum Phoenix, AZ | $166,967,307 | $47,583,205 |
Heard Museum Phoenix, AZ | $36,442,009 | $14,120,125 |
300 Stewart Avenue Corporation Las Vegas, NV | $56,477,513 | $5,741,723 |
Neon Museum Las Vegas, NV | $8,871,637 | $6,075,872 |
Indian Pueblo Cultural Center Inc Albuquerque, NM | $8,961,229 | $4,518,580 |
National Museum Of Wildlife Art Of The United States Jackson, WY | $41,741,861 | $4,638,003 |
The Leonardo Salt Lake City, UT | $1,888,403 | $4,555,150 |
Childrens Museum Of Phoenix Phoenix, AZ | $9,716,806 | $7,301,894 |
National Museum Of Military Vehicles Dubois, WY | $44,269,511 | $10,295,733 |
Scottsdale Museum Of The West Inc Scottsdale, AZ | $7,668,852 | $7,750,587 |
Nevada Discovery Museum Reno, NV | $13,732,048 | $2,685,261 |
Lion Global Foundation Denver, CO | $27,670,557 | $8,372,189 |