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Richard E Phelps Sr Foundation is a private corporation based in MOLINE, IL. The foundation received its IRS ruling in 2013. The principal officer is Richard E Phelps Sr. It holds total assets of $13.6M. Annual income is reported at $2.8M. Total assets have grown from N/A in 2013 to $10.7M in 2023. Grants - the foundation received initial funding following the death of richard e. Phelps sr at the end of 2022. Additional funding is anticipated in 2023 and 2024 following clearance of federal and state estate tax returns. Charitable gifts would begin to be made in the form of cash distributions to 501c3 charitable institutions located in the scott county iowa geographic area for use by the selected institutions in furtherance of its charitable mission. According to its most recent filing, the foundation only makes contributions to preselected charitable organizations. Tax records are available from 2020 to 2023. Contributions to this foundation are tax-deductible.
Grants - the foundation was not to be funded until the death of richard e. Phelps sr at which time substantial gifts were anticipated for the foundation and charitable gifts would begin to be made in the form of cash distributions to 501c3 charitable institutions located in the scott county iowa geographic area for use by the selected institutions in furtherance of its charitable mission. Richard e. Phelps sr. Passed away on september 8 2021 and his estate is in the administration process in scott county iowa. It is anticipated initial funding to the foundation will be made in 2022 with the balance of any gifts to be received in 2023 or beyond following clearance of the internal revenue service of mr. Phelps' estate tax return and clearance of the iowa department of revenue of mr. Phelps' iowa inheritance tax return.
Grants - the foundation received initial funding following the death of richard e. Phelps sr at the end of 2022. Additional funding is anticipated in 2023 and 2024 following clearance of federal and state estate tax returns. Charitable gifts would begin to be made in the form of cash distributions to 501c3 charitable institutions located in the scott county iowa geographic area for use by the selected institutions in furtherance of its charitable mission.
Richard E Phelps Sr Foundation typically selects its grantees rather than accepting unsolicited proposals.
Richard E Phelps Sr Foundation is headquartered in MOLINE, IL.
Officer and trustee information is not yet available for this foundation. This data is typically reported in Part VIII of the 990-PF filing.
Total Giving
$157K
Total Assets
$10.7M
Fair Market Value
$11M
Net Worth
$10.7M
Grants Paid
$125K
Contributions
$8.6M
Net Investment Income
$519K
Distribution Amount
$312K
Total: $7.3M
No individual grant records are available. Visit the foundation's 990-PF filings below for detailed grantee information.