The Reid Family Foundation
- Assets
- $3.4m
- Revenue
- $170.5k
- Investments
- $3.2m
- Employees
- 0
- Location
- Bloomfield Hills, MI
- Founding
- 02/2001
- Data as of
- 12/2021
- EIN
- 91-2082304
Organization Overview
The Reid Family Foundation is located in Bloomfield Hills, MI. The organization was established in 2001. 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. Reid Family 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, Reid Family Foundation generated $170.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $213.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Reid Family Foundation has awarded 25 individual grants totaling $592,955. 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES MORE THAN 11 MILLION IN GRANTS AND SCHOLARSHIPS TO LOCAL NON PROFIT ORGANIZATIONS FOR THE BETTERMENT OF THE CITIZENS OF PALM BEACH AND MARTIN COUNTIES.
ART EXPOSURE TO CHILDREN IN SOUTHEASTERN MICHIGAN
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon R Grant Director | 2 | $0 | |
Megan Grant Director | 0 | $0 | |
Nathan Grant Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $87,479 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $82,946 |
| Capital Gain Net Income | $82,946 |
| Net ST Capital Gain | $45,553 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $44 |
| Total Revenue | $170,471 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $20 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $6,950 |
| Total operating and administrative expenses | $10,730 |
| Contributions, gifts, grants paid | $203,000 |
| Total expenses and disbursements | $213,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,272 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,396,853 |
| Accounts payable and accrued expenses | $588 |
| 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 | $588 |
Grants Awarded
Over the last fiscal year, The Reid Family Foundation has awarded $203,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SCHWAB CHARITIES PURPOSE: DONER ADVISED CHARITABLE FUND | $200,000 |
ARTRAPIDS PURPOSE: TO PROVIDE ART EXPERIENCE TO HIGH SC | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rock And Roll Hall Of Fame And Museum Inc Cleveland, OH | $155,983,812 | $52,609,977 |
National Football Museum Inc Canton, OH | $45,241,637 | $30,879,205 |
Cincinnati Museum Center Cincinnati, OH | $282,646,725 | $49,474,377 |
Milwaukee Public Museum Inc Milwaukee, WI | $17,354,362 | $14,883,405 |
Eiteljorg Museum Of American Indians And Western Art Inc Indianapolis, IN | $95,582,001 | $21,664,008 |
Grand Rapids Public Museum Grand Rapids, MI | $9,797,722 | $8,206,945 |
Kalamazoo Aviation History Museum Portage, MI | $17,581,493 | $5,451,685 |
Museum Of African American History Detroit, MI | $6,150,822 | $7,565,645 |
Lake States Dairy Center Inc Fair Oaks, IN | $6,073,141 | $3,616,020 |
Yankee Air Force Incorporated Belleville, MI | $14,568,941 | -$1,519,297 |
Genevieve And Donald S Gilmore Foundation Hickory Corners, MI | $0 | $3,411,516 |
National Whitetail Deer Education Cambridge, OH | $11,521,774 | $3,398,617 |