E L Wiegand Foundation
- Assets
- $129.9m
- Revenue
- $5.5m
- Investments
- $103.3m
- Employees
- 0
- Location
- Reno, NV
- Founding
- 09/1982
- Data as of
- 10/2023
- EIN
- 94-2839372
Organization Overview
E L Wiegand Foundation is located in Reno, NV. The organization was established in 1982. 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. E L Wiegand 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 10/2023, E L Wiegand Foundation generated $5.5m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $12.2m during the year ending 10/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
THE FOUNDATION PROVIDED ITALIAN CULINARY EXPERIENCES TO NEVADA CHARITABLE ORGANIZATIONS TO EDUCATE AND DEVELOP STRONG RELATIONSHIPS BETWEEN LEADERSHIP, STAFF AND DONORS WITH RESPECT TO THEIR CHARITABLE MISSIONS AND FUND RAISING. IN THE CURRENT FISCAL TAX YEAR, TWO CHARITABLE ORGANIZATIONS WERE SELECTED: SKY TAVERN JUNIOR SKI PROGRAM, INC OF RENO, NEVADA AND THE NEVADA POLICY RESEARCH INSTITUTE OF LAS VEGAS, NEVADA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raymond C Avansino Jr ESQ Chair/ceo/cio | 40 | $390,000 | |
Marisa Avansino V-Chair/pres/ed | 25 | $150,000 | |
Frank J Fahrenkopf Jr ESQ Trustee | 3 | $50,000 | |
Mario J Gabelli Trustee | 3 | $4,000 | |
Calgary A Avansino V-Chair/pres/ed | 25 | $150,000 | |
Michael Melarkey Trustee | 3 | $50,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
James T Carrico | 10/30/23 | $164,568 |
Gamco Investors Inc | 10/30/23 | $164,757 |
Evergreen Gavekal | 10/30/23 | $111,719 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,323,188 |
| Dividends & Interest | $1,687,800 |
| Net Rental Income | -$97,043 |
| Net Gain on Sale of Assets | $2,026,735 |
| Capital Gain Net Income | $2,026,735 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $229,814 |
| Total Revenue | $5,478,797 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,074,621 |
| Other employee salaries and wages | $180,702 |
| Pension plans, employee benefits | $49,179 |
| Interest | $0 |
| Taxes | $60,900 |
| Depreciation | $193,957 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $96,204 |
| Printing and publications | $0 |
| Other expenses | $511,584 |
| Total operating and administrative expenses | $2,689,176 |
| Contributions, gifts, grants paid | $9,494,931 |
| Total expenses and disbursements | $12,184,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $21,379,189 |
| 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 | $130,839 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $56,960,042 |
| Net Land, buildings, and equipment | $5,035,459 |
| Other assets | $94,914 |
| Total assets | $129,923,065 |
| Accounts payable and accrued expenses | $24,722 |
| Grants payable | $5,179,045 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $259,000 |
| Total liabilities | $5,462,767 |
Grants Awarded
Over the last fiscal year, E L Wiegand Foundation has awarded $5,654,553 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
ARTOWN PURPOSE: GENERAL SUPPORT | $69,750 |
NATIONAL AUTOMOBILE MUSEUM PURPOSE: GENERAL SUPPORT | $500,000 |
HAZELDEN BETTY FORD FOUNDATION PURPOSE: SUMMER INSTITUTE FOR MEDICAL STUDENTS | $156,600 |
SAN FRANCISCO BALLET ASSOCIATION PURPOSE: GENERAL SUPPORT | $420,931 |
CLEVELAND CLINIC NEVADA PURPOSE: KEEP MEMORY ALIVE | $750,000 |
BOSTON COLLEGE PURPOSE: GENERAL SUPPORT | $290,000 |