The George E Richmond Foundation

Chicago, IL
Tax-exempt since May 2007
EIN: 20-4234710

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Philanthropy, Voluntarism and Grantmaking Foundations / Private Independent Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$2.83M (2024)

Expenses

$2.6M (2024)

Total Assets

$46.1M (2024)

Total Liabilities

$896k (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$2,833,355

Expenses

$2,595,101

Net Income

$238,254

Net Assets

$45,183,881

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$16,475	0.6%
Dividends	$1,635,136	57.7%
Sales of Assets	$1,166,738	41.2%
Other Income	$15,006	0.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,929,292	74.3%
Compensation of Officers*	$500,000	19.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$46,080,047
Total Liabilities	$896,166
Net Assets	$45,183,881

Compensation

Key Employees and Officers	Compensation	Other
Arthur L Herbst Jr (Co President/Treasurer)	$250,000	$55,826
Alfred E Brennan Jr (Co President/Secretary)	$250,000	$31,580
Brian Bermer (Director)	$0	$0
Richard Richmond (Director)	$0	$0
Jamie H Swartout (Director)	$0	$0

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990-PF

Filed on Nov. 11, 2025

Primary tax return for a private foundation's activities, finances, and governance

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Schedules ▼

XML

Fiscal Year Ending Dec.
2023

Revenue

$2,211,183

Expenses

$2,758,425

Net Income

-$547,242

Net Assets

$42,077,754

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$9,590	0.4%
Dividends	$1,137,597	51.4%
Sales of Assets	$1,016,502	46.0%
Other Income	$47,494	2.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$2,410,847	87.4%
Compensation of Officers*	$500,000	18.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$42,930,715
Total Liabilities	$852,961
Net Assets	$42,077,754

Compensation

Key Employees and Officers	Compensation	Other
Arthur L Herbst Jr (Co President/Treasurer)	$250,000	$57,864
Alfred E Brennan Jr (Co President/Secretary)	$250,000	$27,247
Brian Bermer (Director)	$0	$0
Richard Richmond (Director)	$0	$0
Jamie H Swartout (Director)	$0	$0

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990-PF

Filed on Nov. 13, 2024

Primary tax return for a private foundation's activities, finances, and governance

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XML

Fiscal Year Ending Dec.
2022

Revenue

$1,152,621

Expenses

$2,611,842

Net Income

-$1,459,221

Net Assets

$39,538,771

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$8,646	0.8%
Dividends	$1,064,412	92.3%
Sales of Assets	$66,080	5.7%
Other Income	$13,483	1.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$2,337,063	89.5%
Compensation of Officers*	$500,000	19.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$40,811,753
Total Liabilities	$1,272,982
Net Assets	$39,538,771

Compensation

Key Employees and Officers	Compensation	Other
Arthur L Herbst Jr (Co President/Treasurer)	$250,000	$25,589
Alfred E Brennan Jr (Co President/Secretary)	$250,000	$44,016
Brian Bermer (Director)	$0	$0
Richard Richmond (Director)	$0	$0
Jamie H Swartout (Director)	$0	$0

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990-PF

Filed on Nov. 15, 2023

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2021

Revenue

$3,086,238

Expenses

$3,212,562

Net Income

-$126,324

Net Assets

$47,030,950

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$96,970	3.1%
Interest Revenue	$9,260	0.3%
Dividends	$1,044,405	33.8%
Sales of Assets	$1,843,505	59.7%
Other Income	$92,098	3.0%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,932,703	60.2%
Compensation of Officers*	$370,018	11.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$48,791,042
Total Liabilities	$1,760,092
Net Assets	$47,030,950

Compensation

Key Employees and Officers	Compensation	Other
Arthur L Herbst Jr (Co President/Treasurer)	$185,009	$47,024
Alfred E Brennan Jr (Co President/Secretary)	$185,009	$31,814
Brian Bermer (Director)	$0	$0
Richard Richmond (Director)	$0	$0
Jamie H Swartout (Director)	$0	$0

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990-PF

Filed on Nov. 10, 2022

Primary tax return for a private foundation's activities, finances, and governance

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PDF XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2020

Revenue

$1,008,687

Expenses

$2,343,688

Net Income

-$1,335,001

Net Assets

$41,804,219

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$4,708	0.5%
Dividends	$936,779	92.9%
Sales of Assets	$55,329	5.5%
Other Income	$11,871	1.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,881,321	80.3%
Compensation of Officers*	$387,601	16.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$42,633,462
Total Liabilities	$829,243
Net Assets	$41,804,219

Compensation

Key Employees and Officers	Compensation	Other
Arthur L Herbst Jr (Co President/Treasurer)	$193,800	$48,310
Alfred E Brennan Jr (Co President/Secretary)	$193,800	$56,835
Brian Bermer (Director)	$0	$0
Richard Richmond (Director)	$0	$0
Jamie H Swartout (Director)	$0	$0

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990-PF

Filed on Nov. 9, 2021

Primary tax return for a private foundation's activities, finances, and governance

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990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2019

Revenue

$1,972,487

Expenses

$2,485,857

Net Income

-$513,370

Net Assets

$41,291,658

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$6,224	0.3%
Dividends	$1,170,759	59.4%
Sales of Assets	$785,963	39.8%
Other Income	$9,541	0.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$2,033,666	81.8%
Compensation of Officers*	$352,390	14.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$41,414,368
Total Liabilities	$122,710
Net Assets	$41,291,658

Compensation

Key Employees and Officers	Compensation	Other
Arthur L Herbst Jr (Co President/Treasurer)	$176,195	$28,454
Alfred E Brennan Jr (Co President/Secretary)	$176,195	$17,243
Brian Bermer (Director)	$0	$0
Richard Richmond (Director)	$0	$0

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990-PF

Filed on Nov. 12, 2020

Primary tax return for a private foundation's activities, finances, and governance

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XML

990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2018

Revenue

$1,793,896

Expenses

$1,662,263

Net Income

$131,633

Net Assets

$36,565,957

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$6,150	0.3%
Dividends	$1,145,410	63.9%
Sales of Assets	$634,665	35.4%
Other Income	$7,671	0.4%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$2,007,160	> 100%
Compensation of Officers*	$340,637	20.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$36,757,549
Total Liabilities	$191,592
Net Assets	$36,565,957

Compensation

Key Employees and Officers	Compensation	Other
Arthur L Herbst Jr (Co President/Treasurer)	$170,319	$43,004
Alfred E Brennan Jr (Co President/Secretary)	$170,319	$27,740
Brian Bermer (Director)	$0	$0
Richard Richmond (Director)	$0	$0

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990-PF

Filed on Nov. 13, 2019

Primary tax return for a private foundation's activities, finances, and governance

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990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2017

Revenue

$2,537,507

Expenses

$2,311,442

Net Income

$226,065

Net Assets

$40,132,016

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$395,000	15.6%
Interest Revenue	$7,321	0.3%
Dividends	$1,062,876	41.9%
Sales of Assets	$1,057,268	41.7%
Other Income	$15,042	0.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,633,613	70.7%
Compensation of Officers*	$332,022	14.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$41,095,305
Total Liabilities	$963,289
Net Assets	$40,132,016

Compensation

Key Employees and Officers	Compensation	Other
Arthur L Herbst Jr (Co President/Treasurer)	$166,011	$26,525
Alfred E Brennan Jr (Co President/Secretary)	$166,011	$36,027
Brian Bermer (Director)	$0	$0
Richard Richmond (Director)	$0	$0

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990-PF

Filed on Nov. 14, 2018

Primary tax return for a private foundation's activities, finances, and governance

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990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2016

Revenue

$1,001,301

Expenses

$2,526,772

Net Income

-$1,525,471

Net Assets

$36,411,069

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$9,840	1.0%
Dividends	$1,013,077	> 100%
Sales of Assets	-$7,643
Other Income	-$13,973

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,895,360	75.0%
Compensation of Officers*	$316,212	12.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$37,116,598
Total Liabilities	$705,529
Net Assets	$36,411,069

Compensation

Key Employees and Officers	Compensation	Other
Arthur L Herbst Jr (Vp/Treasurer)	$158,106	$18,503
Alfred E Brennan Jr (President/Secretary)	$158,106	$13,050
Brian Bermer (Director)	$0	$0
Richard Richmond (Director)	$0	$0

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990-PF

Filed on Nov. 15, 2017

Primary tax return for a private foundation's activities, finances, and governance

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990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

PDF

Fiscal Year Ending Dec.
2015

Revenue

$951,738

Expenses

$2,273,188

Net Income

-$1,321,450

Net Assets

$35,826,624

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,659	0.3%
Dividends	$984,230	> 100%
Sales of Assets	-$26,452
Other Income	-$8,699

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,344,747	59.2%
Compensation of Officers*	$301,153	13.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$36,324,975
Total Liabilities	$498,351
Net Assets	$35,826,624

Compensation

Key Employees and Officers	Compensation	Other
Arthur L Herbst Jr (Vp/Treasurer)	$150,577	$16,657
Alfred E Brennan Jr (President/Secretary)	$150,576	$8,870
Brian Bermer (Director)	$0	$0
Richard Richmond (Director)	$0	$0

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990-PF

Filed on Nov. 11, 2016

Primary tax return for a private foundation's activities, finances, and governance

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990-T

For unrelated business income from activities not substantially related to the organization's tax-exempt purpose

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PDF (2 of 2)

Fiscal Year Ending Dec.
2014

Revenue

$1,631,186

Expenses

$2,591,288

Net Income

-$960,102

Net Assets

$38,611,846

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,458	0.2%
Dividends	$1,083,371	66.4%
Sales of Assets	$525,718	32.2%
Other Income	$19,639	1.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$1,943,989	75.0%
Compensation of Officers*	$303,462	11.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$39,245,703
Total Liabilities	$633,857
Net Assets	$38,611,846

Compensation

Key Employees and Officers	Compensation	Other
Arthur L Herbst Jr (Vp/Treasurer)	$151,731	$12,741
Alfred E Brennan Jr (Vp/Secretary)	$151,731	$11,586
George E Richmond (President)	$0	$3,342
Brian Bermer (Director)	$0	$0

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990-PF

Filed on Nov. 16, 2015

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending Dec.
2013

Revenue

$39,171,808

Expenses

$1,725,853

Net Income

$37,445,955

Net Assets

$38,749,496

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$18,512	0.0%
Dividends	$347,291	0.9%
Sales of Assets	$38,806,005	99.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$656,071	38.0%
Compensation of Officers*	$200,000	11.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$39,587,149
Total Liabilities	$837,653
Net Assets	$38,749,496

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2012

Revenue

$35,556,152

Expenses

$83,231

Net Income

$35,472,921

Net Assets

$36,660,980

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$35,478,099	99.8%
Interest Revenue	$13	0.0%
Dividends	$45,190	0.1%
Sales of Assets	$32,850	0.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$74,458	89.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$36,660,980
Total Liabilities	$0
Net Assets	$36,660,980

990-PF

Primary tax return for a private foundation's activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$57,187

Expenses

$82,166

Net Income

-$24,979

Net Assets

$1,210,980

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$20	0.0%
Dividends	$57,167	100.0%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$73,505	89.5%
Compensation of Officers*	$0
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$1,210,980
Total Liabilities	$0
Net Assets	$1,210,980

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The George E Richmond Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $2.83M (2024)

Expenses $2.6M (2024)

Total Assets $46.1M (2024)

Total Liabilities $896k (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

990-T

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Revenue

$2.83M (2024)

Expenses

$2.6M (2024)

Total Assets

$46.1M (2024)

Total Liabilities

$896k (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006