Nonprofit · EIN 82-0568453
PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC
Tax-exempt · ANNAPOLIS, MD 21401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $4,995,073 | $11,920,061 | -$6,924,988 | $62,529,008 | $9,466,981 | $53,062,027 |
| December 31, 2023 | 990-PF (amended) | $3,130,105 | $5,311,042 | -$2,180,937 | $68,749,103 | $8,774,920 | $59,974,183 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $923,819
- Interest
- $653,472
- Net gain from sales of assets
- $3,382,368
- Other income
- $35,414
Expenses
- Grants and similar amounts paid
- $9,394,092
- Compensation of officers, directors and key employees
- $135,000
- Salaries, compensation and benefits (total)
- $226,020
- Disbursements for charitable purposes
- $8,979,480
- Excise tax on investment income
- $65,242
Balance sheet and other
- Total assets, start of year
- $68,749,103
- Total assets, end of year
- $62,529,008
- Total liabilities, end of year
- $9,466,981
- Net assets, end of year
- $53,062,027
- Fair market value of assets
- $72,739,833
- Qualifying distributions
- $8,979,480
- Net investment income
- $4,995,068
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CARLENE M CASSIDY 25 UPSHUR AVENUE, ANNAPOLIS, MD 214034506 | CHIEF EXEC O Highest-paid employee | 40 | $195,020 | $25,170 |
| JAMES D WRIGHT 6445 CLOISTER GATE DRIVE, BALTIMORE, MD 21212 | PRESIDENT | 5 | $75,000 | $0 |
| TINA DAVENPORT 275 WEST STREET SUITE 109, ANNAPOLIS, MD 21401 | TRUSTEE | 5 | $60,000 | $0 |
| JAMES A CLAUSON 2613 CABOVER DRIVE, HANOVER, MD 21076 | TRUSTEE | 1 | $0 | $0 |
990-PF for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CARLENE M CASSIDY 25 UPSHUR AVENUE, ANNAPOLIS, MD 214034506 | CHIEF EXEC O Highest-paid employee | 40 | $185,873 | $24,250 |
| JAMES D WRIGHT 6445 CLOISTER GATE DRIVE, BALTIMORE, MD 21212 | PRESIDENT | 5 | $75,000 | $0 |
| TINA DAVENPORT 275 WEST STREET SUITE 109, ANNAPOLIS, MD 21401 | TRUSTEE | 5 | $60,000 | $0 |
| JAMES A CLAUSON 2613 CABOVER DRIVE, HANOVER, MD 21076 | TRUSTEE | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 275 WEST ST STE 109, ANNAPOLIS, MD 21401-3468
- In care of
- % PHILIP E RATCLIFFE
- Signed the 990-PF
- CARLENE M CASSIDY, CHIEF EXEC OFFICER
- Phone
- (667) 458-7991
- Website
- WWW.RATCLIFFEFOUNDATION.COM
- Return prepared by
- COMPASS US ACCOUNTANTS & ADVISORS
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-PF on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-PF on file |
IRS record
- EIN
- 82-0568453
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 2003
- Accounting year ends
- December
- Files
- Form 990-PF
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T22)
- Assets (IRS master file)
- $62,529,008
- Income (IRS master file)
- $28,162,473
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $4,995,073 | $11,920,061 | $62,529,008 | XML |
| 990-PF | December 2023 | $3,130,105 | $5,311,042 | $68,749,103 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | IRS |
| 990-PF | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 82-0568453).
Questions about PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC
- What is the EIN of PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC?
- The employer identification number (EIN) of PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC is 82-0568453.
- Is PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2003.
- Are donations to PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended December 2024.
- Who are the officers and directors of PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC?
- The 990-PF for the year ended December 31, 2024 lists 4 people; 3 received compensation from the organization, the highest $195,020 (CARLENE M CASSIDY, CHIEF EXEC O).
- How much revenue does PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $4,995,073, expenses of $11,920,061 and total assets of $62,529,008 at year end.
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