Forest C And Ruth V Kelsey Foundation
- Assets
- $9.9m
- Revenue
- $327.6k
- Investments
- $9.3m
- Employees
- 0
- Location
- Montesano, WA
- Founding
- 05/2000
- Data as of
- 12/2022
- EIN
- 91-2013369
Organization Overview
Forest C And Ruth V Kelsey Foundation is located in Montesano, WA. The organization was established in 2000. 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. Forest C And Ruth V Kelsey 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 12/2022, Forest C And Ruth V Kelsey Foundation generated $327.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Forest C And Ruth V Kelsey Foundation has awarded 18 individual grants totaling $5,120,433. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING SCHOLARSHIPS TO QUALIFIED STUDENTS
GRANTS AND DONATIONS TO COMMUNITY ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Lewis Trustee | 2 | $1,200 | |
Loni Crass Vice President | 2 | $1,200 | |
Teresa Frafjord Trustee | 2 | $1,200 | |
Steve Caldwell Trustee | 2 | $800 | |
Mike Hliboki Trustee | 2 | $1,200 | |
Julie Randich President | 2 | $1,437 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $312,420 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $15,209 |
| Capital Gain Net Income | $15,209 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $327,629 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $8,237 |
| Other employee salaries and wages | $6,634 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,744 |
| Depreciation | $0 |
| Occupancy | $11,881 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $102,405 |
| Total operating and administrative expenses | $143,287 |
| Contributions, gifts, grants paid | $864,375 |
| Total expenses and disbursements | $1,007,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $562,605 |
| 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 | $3,665,651 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $1,523 |
| Total assets | $9,891,146 |
| Accounts payable and accrued expenses | $337 |
| 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 | $337 |
Grants Awarded
Over the last fiscal year, Forest C And Ruth V Kelsey Foundation has awarded $864,375 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SCHOLARSHIPS PURPOSE: SCHOLARSHIPS TO QUALIFIED STUDENTS. | $574,750 |
COMMUNITY GRANTS DONATIONS PURPOSE: TO PROMOTE EDUCATION AND OTHER PROGRAMS FOR THE YOUTH IN GRAYS HARBOR. | $289,625 |