Red Bank Foundation Inc

VERO BEACH, FL EIN: 21-0737092

Red Bank Foundation Inc is a private foundation, based in VERO BEACH, FL. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $163K in total assets. In 2024, it awarded 9 grants totaling $26K. Net investment income was $22K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$163K

-2.5% YoY

Annual Giving

$26K

+39.8% YoY

Grant Count

+50.0% YoY

Avg Grant Size

$3K

-6.8% YoY

Under IRS private-foundation payout rules, Red Bank Foundation Inc reported a distributable amount of $30K for 2024 — the minimum it must pay out in qualifying distributions.

About Red Bank Foundation Inc

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Florida $311K (99%)

Connecticut $1K (0%)

New Jersey $1K (0%)

States

Connecticut Florida New Jersey

Cities

New BrunswickNew HavenVero Beach

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$163,108	$167,305	$165,258
Revenue	$23,870	$22,657	$21,996
Expenses	$27,746	$20,332	$28,374
Qualifying Distributions	$26,000	$18,600	$26,650
Net Investment Income	$22,124	$20,925	$20,005
Distributable Amount	$30,366	$30,110	$34,563

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 9 recipients in 2024

Grant Size Distribution

36 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include United Way of Indian River County ($10,000), Gifford Youth Achievement Center ($5,000), Johns Island Community Service Leag ($5,000).

Recipient	Purpose	Amount
GIFFORD YOUTH ACHIEVEMENT CENTER VERO BEACH, FL	YOUTH ACHIEVEMENT	$5,000
LEARNING ALLIANCE VERO BEACH, FL	TUTORING CHILDREN	$1,000
CLEVELAND CLINIC FOUNDATION VERO BEACH, FL	EXPAND TECHNOLOGY & CAPACITY	$1,000
JOHNS ISLAND COMMUNITY SERVICE LEAG VERO BEACH, FL	SERVE FAMILIES IN NEED	$5,000
JOHN'S ISLAND FOUNDATION VERO BEACH, FL	PROVIDE SUPPORT FOR FAMILIES IN NEED	$1,000
RUTGERS FOUNDATION NEW BRUNSWICK, NJ	CONTRIBUTING TO STUDENT EDUCATION	$1,000
UNITED WAY OF INDIAN RIVER COUNTY VERO BEACH, FL	DISASTER RELIEF	$10,000
UNITED AGAINST POVERTY VERO BEACH, FL	TO HELP INDIVIDUALS IN NEED	$1,000
HEALTHY START VERO BEACH, FL	TO HELP INDIVIDUALS WITH HEALTHCARE	$1,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
JOAN N WOODHOUSE	PRESIDENT	—	—

Frequently Asked Questions

How large is Red Bank Foundation Inc?

As of 2024, Red Bank Foundation Inc holds $163K in total assets with $24K in annual revenue. It awarded 9 grants totaling $26K in 2024.

Where does Red Bank Foundation Inc operate?

Red Bank Foundation Inc has awarded grants in Connecticut, Florida, New Jersey.

What size grants does Red Bank Foundation Inc award?

In 2024, Red Bank Foundation Inc awarded 9 grants totaling $26K — an average of about $3K per grant, based on its IRS Form 990 filings.

How much is Red Bank Foundation Inc required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Red Bank Foundation Inc reported a distributable amount of $30K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.