Nonprofit · EIN 51-6015916
WELFARE FOUNDATION INC
Tax-exempt · WILMINGTON, DE 19801
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990-PF | $27,707,404 | $6,982,234 | $20,725,170 | $106,741,777 | $2,087,979 | $104,653,798 |
| December 31, 2023 | 990-PF | $4,894,053 | $5,995,775 | -$1,101,722 | $79,032,992 | $872,318 | $78,160,674 |
Financial details: 990-PF for the year ended December 31, 2024
Revenue
- Dividends
- $1,973,944
- Net gain from sales of assets
- $25,571,598
- Other income
- $161,862
Expenses
- Grants and similar amounts paid
- $5,774,375
- Compensation of officers, directors and key employees
- $237,349
- Salaries, compensation and benefits (total)
- $77,758
- Disbursements for charitable purposes
- $5,020,135
- Excise tax on investment income
- $374,889
Balance sheet and other
- Total assets, start of year
- $79,032,992
- Total assets, end of year
- $106,741,777
- Total liabilities, end of year
- $2,087,979
- Net assets, end of year
- $104,653,798
- Fair market value of assets
- $117,587,512
- Qualifying distributions
- $5,020,135
- Net investment income
- $27,707,404
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 |
|---|---|---|---|---|
| CHRISTOPHER GRUNDNER 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | PRESIDENT/ASST SECRETARY/T | 40 | $237,349 | $57,836 |
| ROBERT H BOLLING III 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
| WILLIAM L KITCHEL III 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TREASURER/TRUSTEE | 1 | $0 | $0 |
| E BRADFORD DUPONT JR 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | CHAIRMAN/TRUSTEE | 1 | $0 | $0 |
| LEATRICE D ELLIMAN 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | SECRETARY/TRUSTEE | 1 | $0 | $0 |
| AVERY STABLER 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
| W LAIRD STABLER 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | VICE PRESIDENT/TRUSTEE | 1 | $0 | $0 |
| MARGARET L LAIRD 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
| R HUNTINGTON BOLLING 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
| D TROWBRIDGE ELLIMAN 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
| BRENT W DUPONT 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
990-PF for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CHRISTOPHER GRUNDNER 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | PRESIDENT/ASST SECRETARY/T | 40 | $228,489 | $53,997 |
| ROBERT H BOLLING III 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
| WILLIAM L KITCHEL III 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TREASURER/TRUSTEE | 1 | $0 | $0 |
| E BRADFORD DUPONT JR 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | CHAIRMAN/TRUSTEE | 1 | $0 | $0 |
| LEATRICE D ELLIMAN 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | SECRETARY/TRUSTEE | 1 | $0 | $0 |
| AVERY STABLER TRAVIS 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
| W LAIRD STABLER 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | VICE PRESIDENT/TRUSTEE | 1 | $0 | $0 |
| MARGARET L LAIRD 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
| R HUNTINGTON BOLLING 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
| D TROWBRIDGE ELLIMAN 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
| BRENT W DUPONT 100 W 10TH STREET SUITE 1109, WILMINGTON, DE 19801 | TRUSTEE | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 100 W 10TH ST STE 1109, WILMINGTON, DE 19801-1653
- Signed the 990-PF
- CHRISTOPHER GRUNDNER, PRESIDENT AND CEO
- Phone
- (302) 683-8245
- Website
- WWW.WELFAREFOUNDATIONDE.ORG
- Return prepared by
- HERBEIN COMPANY INC
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
- 51-6015916
- 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
- 1947
- Accounting year ends
- December
- Files
- Form 990-PF
- Assets (IRS master file)
- $106,741,777
- Income (IRS master file)
- $65,528,705
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | December 2024 | $27,707,404 | $6,982,234 | $106,741,777 | IRS |
| 990-PF | December 2023 | $4,894,053 | $5,995,775 | $79,032,992 | XML |
| 990-PF | December 2022 | – | – | – | IRS |
| 990-PF | December 2021 | – | – | – | IRS |
| 990-PF | December 2020 | – | – | – | 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 51-6015916).
Questions about WELFARE FOUNDATION INC
- What is the EIN of WELFARE FOUNDATION INC?
- The employer identification number (EIN) of WELFARE FOUNDATION INC is 51-6015916.
- Is WELFARE FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1947.
- Are donations to WELFARE FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does WELFARE FOUNDATION INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of WELFARE 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 WELFARE 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 WELFARE FOUNDATION INC?
- The 990-PF for the year ended December 31, 2024 lists 11 people; 1 received compensation from the organization, the highest $237,349 (CHRISTOPHER GRUNDNER, PRESIDENT/ASST SECRETARY/T).
- How much revenue does WELFARE FOUNDATION INC have?
- On its 990-PF for the year ended December 31, 2024 it reported revenue of $27,707,404, expenses of $6,982,234 and total assets of $106,741,777 at year end.
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