Michael Wassmer Foundation
- Assets
- $1.3m
- Revenue
- $1.3m
- Investments
- $1.2m
- Employees
- 0
- Location
- Henrico, VA
- Founding
- Data as of
- 12/2023
- EIN
- 92-0384293
Organization Overview
Michael Wassmer Foundation is located in Henrico, VA. 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. Michael Wassmer 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, Michael Wassmer Foundation generated $1.3m in total revenue. All expenses for the organization totaled $53.2k during the year ending 12/2023. While expenses have increased by 78.4% 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea Wassmer President, Director | 20 | $0 | |
Zachary Wassmer Director | 2 | $0 | |
Owen Wassmer Director | 2 | $0 | |
Claudia Rinaldi Secretary, Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,070,285 |
| Interest on Savings | $205 |
| Dividends & Interest | $25,882 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $174,840 |
| Capital Gain Net Income | $174,840 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,271,212 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $946 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $471 |
| Printing and publications | $114 |
| Other expenses | $12,322 |
| Total operating and administrative expenses | $25,650 |
| Contributions, gifts, grants paid | $27,500 |
| Total expenses and disbursements | $53,150 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,838 |
| Savings and temporary cash investments | $72,319 |
| 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 | $1,257,126 |
| 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, Michael Wassmer Foundation has awarded $27,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
COLBY TAYLOR PURPOSE: 2023 SCHOLARSHIP | $7,500 |
LAURA QUINONEZ PURPOSE: 2023 SCHOLARSHIP | $7,500 |
SUTTON MARKS PURPOSE: 2023 SCHOLARSHIP | $7,500 |
VYVY MAI PURPOSE: 2023 SCHOLARSHIP | $5,000 |