Richman Foundation Inc
- Assets
- $9.0m
- Revenue
- $9.9m
- Investments
- $8.6m
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- Data as of
- 12/2023
- EIN
- 87-4560827
Organization Overview
Richman Foundation Inc is located in Baltimore, MD. 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. Richman 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 12/2023, Richman Foundation Inc generated $9.9m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 24.9% each year . All expenses for the organization totaled $2.1m during the year ending 12/2023. While expenses have increased by 18.9% per year over the past 2 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 2022, Richman Foundation Inc has awarded 62 individual grants totaling $3,023,448. 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
THE FOUNDATION MAKES GRANTS TO OTHER SECTION 501(C)(3) ORGANIZATIONS INVOLVED IN DIRECT CHARITABLE ACTIVITIES. SEE ATTACHED SCHEDULE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arnold Richman President / Director | 2 | $0 | |
Daniel W Geary Treasurer | 1 | $0 | |
Kristen S Kinkopf Secretary | 40 | $141,300 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $7,268,689 |
| Interest on Savings | $0 |
| Dividends & Interest | $85,297 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,579,560 |
| Capital Gain Net Income | $2,579,560 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $9,933,546 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $141,300 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $38,188 |
| Interest | $0 |
| Taxes | $53,329 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,395 |
| Printing and publications | $1,181 |
| Other expenses | $31,663 |
| Total operating and administrative expenses | $280,580 |
| Contributions, gifts, grants paid | $1,778,081 |
| Total expenses and disbursements | $2,058,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,636 |
| Savings and temporary cash investments | $271,384 |
| 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 | $5,994,463 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $8,975,723 |
| 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, Richman Foundation Inc has awarded $1,778,081 in support to 42 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN JEWISH WORLD SERVICE PURPOSE: OPERATING SUPPORT | $5,500 |
ASYLEE WOMEN ENTERPRISE PURPOSE: OPERATING SUPPORT | $35,000 |
BALTIMORE CIVIC FUND PURPOSE: OPERATING SUPPORT | $32,714 |
BALTIMORE LEADERSHIP SCHOOL FOR YOUNG WOMEN PURPOSE: OPERATING SUPPORT | $200,000 |
BALTIMORE SYMPHONY ORCHESTRA PURPOSE: OPERATING SUPPORT | $110,000 |
BCF CIVIC LEADERSHIP FUND PURPOSE: OPERATING SUPPORT | $10,000 |