PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC: Form 990PF, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- PHILIP E AND CAROLE R RATCLIFFE FOUNDATION INC (EIN 82-0568453)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-10-10
- IRS object ID
- 202512839349100706
- Schema version
- 2024v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990-PF
- Accounting Fees Schedule
- Depreciation Schedule
- Investments Corp Bonds Schedule
- Investments Corp Stock Schedule
- Investments Other Schedule2
- Land Etc Schedule2
- Other Assets Schedule
- Other Decreases Schedule
- Other Expenses Schedule
- Other Income Schedule2
- Other Increases Schedule
- Other Notes Loans Rcvbl Short Sch2
- Other Professional Fees Schedule
- Taxes Schedule
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-10-10T12:17:03-04:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 814693463 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COMPASS US ACCOUNTANTS & ADVISORS | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 130 ADMIRAL COCHRANE DR SUITE 200 | AddressLine1Txt |
| City | ANNAPOLIS | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 214017368 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990PF | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 820568453 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PHILIP E AND CAROLE R RATCLIFFE | BusinessNameLine1Txt |
| Business Name Line2 | FOUNDATION INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PHIL | BusinessNameControlTxt |
| Phone | 6674587991 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 275 WEST ST SUITE 109 | AddressLine1Txt |
| City | ANNAPOLIS | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 21401 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CARLENE M CASSIDY | PersonNm |
| Person Title | CHIEF EXEC OFFICER | PersonTitleTxt |
| Phone | 6674587991 | PhoneNum |
| Signature | 2025-10-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | THADDEUS N TOAL CPA | PreparerPersonNm |
| PTIN | P00780668 | PTIN |
| Phone | 4102240343 | PhoneNum |
| Preparation | 2025-10-10 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990-PF IRS990PF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization501c3 Exempt PF | Yes (X) | Organization501c3ExemptPFInd |
| FMV Assets EOY | $72,739,833 | FMVAssetsEOYAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Schedule B Not Required | Yes (X) | ScheduleBNotRequiredInd |
| Interest On Sav Rev And Expnss | $653,472 | InterestOnSavRevAndExpnssAmt |
| Interest On Sav Net Invst Incm | $653,467 | InterestOnSavNetInvstIncmAmt |
| Dividends Rev And Expnss | $923,819 | DividendsRevAndExpnssAmt |
| Dividends Net Invst Incm | $923,819 | DividendsNetInvstIncmAmt |
| Net Gain Sale Ast Rev And Expnss | $3,382,368 | NetGainSaleAstRevAndExpnssAmt |
| Gross Sales Price | $26,549,768 | GrossSalesPriceAmt |
| Cap Gain Net Incm Net Invst Incm | $3,382,368 | CapGainNetIncmNetInvstIncmAmt |
| Other Income Rev And Expnss | $35,414 | OtherIncomeRevAndExpnssAmt |
| Other Income Net Invst Incm | $35,414 | OtherIncomeNetInvstIncmAmt |
| Total Rev And Expnss | $4,995,073 | TotalRevAndExpnssAmt |
| Total Net Invst Incm | $4,995,068 | TotalNetInvstIncmAmt |
| Comp Ofcr Dir Trst Rev And Expnss | $135,000 | CompOfcrDirTrstRevAndExpnssAmt |
| Oth Empl Slrs Wgs Rev And Expnss | $226,020 | OthEmplSlrsWgsRevAndExpnssAmt |
| Oth Empl Slrs Wgs Dsbrs Chrtbl | $226,020 | OthEmplSlrsWgsDsbrsChrtblAmt |
| Pension Empl Bnft Rev And Expnss | $42,818 | PensionEmplBnftRevAndExpnssAmt |
| Pension Empl Bnft Dsbrs Chrtbl | $42,818 | PensionEmplBnftDsbrsChrtblAmt |
| Accounting Fees Rev And Expnss | $37,250 | AccountingFeesRevAndExpnssAmt |
| Other Prof Fees Rev And Expnss | $321,796 | OtherProfFeesRevAndExpnssAmt |
| Other Prof Fees Net Invst Incm | $301,402 | OtherProfFeesNetInvstIncmAmt |
| Interest Rev And Expnss | $131 | InterestRevAndExpnssAmt |
| Taxes Rev And Expnss | $65,689 | TaxesRevAndExpnssAmt |
| Taxes Net Invst Incm | $5 | TaxesNetInvstIncmAmt |
| Taxes Adj Net Incm | $65,242 | TaxesAdjNetIncmAmt |
| Deprec And Dpltn Rev And Expnss | $1,409 | DeprecAndDpltnRevAndExpnssAmt |
| Occupancy Rev And Expnss | $31,485 | OccupancyRevAndExpnssAmt |
| Trav Conf Meeting Rev And Expnss | $27,439 | TravConfMeetingRevAndExpnssAmt |
| Other Expenses Rev And Expnss | $1,636,932 | OtherExpensesRevAndExpnssAmt |
| Tot Opr Expenses Rev And Expnss | $2,525,969 | TotOprExpensesRevAndExpnssAmt |
| Tot Opr Expenses Net Invst Incm | $301,407 | TotOprExpensesNetInvstIncmAmt |
| Tot Opr Expenses Adj Net Incm | $65,242 | TotOprExpensesAdjNetIncmAmt |
| Tot Opr Expenses Dsbrs Chrtbl | $268,838 | TotOprExpensesDsbrsChrtblAmt |
| Contri Paid Rev And Expnss | $9,394,092 | ContriPaidRevAndExpnssAmt |
| Contri Paid Dsbrs Chrtbl | $8,710,642 | ContriPaidDsbrsChrtblAmt |
| Total Expenses Rev And Expnss | $11,920,061 | TotalExpensesRevAndExpnssAmt |
| Total Expenses Net Invst Incm | $301,407 | TotalExpensesNetInvstIncmAmt |
| Total Expenses Adj Net Incm | $65,242 | TotalExpensesAdjNetIncmAmt |
| Total Expenses Dsbrs Chrtbl | $8,979,480 | TotalExpensesDsbrsChrtblAmt |
| Excess Revenue Over Expenses | -$6,924,988 | ExcessRevenueOverExpensesAmt |
| Net Investment Income | $4,693,661 | NetInvestmentIncomeAmt |
Form990 PF Balance Sheets Form990PFBalanceSheetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sav And Temp Cash Invst BOY | $1,939,982 | SavAndTempCashInvstBOYAmt |
| Sav And Temp Cash Invst EOY | $10,614,906 | SavAndTempCashInvstEOYAmt |
| Sav And Temp Cash Invst EOYFMV | $10,614,906 | SavAndTempCashInvstEOYFMVAmt |
| Other Nts And Loans Rcvbl BOY | $22,276 | OtherNtsAndLoansRcvblBOYAmt |
| Prepaid Expenses BOY | $8,205 | PrepaidExpensesBOYAmt |
| Corporate Stock BOY | $34,803,628 | CorporateStockBOYAmt |
| Corporate Stock EOY | $31,625,324 | CorporateStockEOYAmt |
| Corporate Stock EOYFMV | $41,439,332 | CorporateStockEOYFMVAmt |
| Corporate Bonds BOY | $10,224,603 | CorporateBondsBOYAmt |
| Other Investments BOY | $2,355,751 | OtherInvestmentsBOYAmt |
| Other Investments EOY | $672,189 | OtherInvestmentsEOYAmt |
| Other Investments EOYFMV | $1,069,006 | OtherInvestmentsEOYFMVAmt |
| Land Bldg Equip Cost Or Other Bss | $19,615,143 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $5,706 | LandBldgEquipAccumDeprecAmt |
| Land BOY | $19,389,893 | LandBOYAmt |
| Land EOY | $19,609,437 | LandEOYAmt |
| Land EOYFMV | $19,609,437 | LandEOYFMVAmt |
| Other Assets BOY | $4,765 | OtherAssetsBOYAmt |
| Other Assets EOY | $7,152 | OtherAssetsEOYAmt |
| Other Assets EOYFMV | $7,152 | OtherAssetsEOYFMVAmt |
| Total Assets BOY | $68,749,103 | TotalAssetsBOYAmt |
| Total Assets EOY | $62,529,008 | TotalAssetsEOYAmt |
| Total Assets EOYFMV | $72,739,833 | TotalAssetsEOYFMVAmt |
| Accounts Payable BOY | $4,373 | AccountsPayableBOYAmt |
| Accounts Payable EOY | $12,984 | AccountsPayableEOYAmt |
| Grants Payable BOY | $8,770,547 | GrantsPayableBOYAmt |
| Grants Payable EOY | $9,453,997 | GrantsPayableEOYAmt |
| Total Liabilities BOY | $8,774,920 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $9,466,981 | TotalLiabilitiesEOYAmt |
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
| No Donor Rstr Net Assests BOY | $59,974,183 | NoDonorRstrNetAssestsBOYAmt |
| No Donor Rstr Net Assests EOY | $53,062,027 | NoDonorRstrNetAssestsEOYAmt |
| Tot Net Ast Or Fund Balances BOY | $59,974,183 | TotNetAstOrFundBalancesBOYAmt |
| Tot Net Ast Or Fund Balances EOY | $53,062,027 | TotNetAstOrFundBalancesEOYAmt |
| Total Liabilities Net Ast BOY | $68,749,103 | TotalLiabilitiesNetAstBOYAmt |
| Total Liabilities Net Ast EOY | $62,529,008 | TotalLiabilitiesNetAstEOYAmt |
Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Net Ast Or Fund Balances BOY | $59,974,183 | TotNetAstOrFundBalancesBOYAmt |
| Excess Revenue Over Expenses | -$6,924,988 | ExcessRevenueOverExpensesAmt |
| Other Increases | $22,198 | OtherIncreasesAmt |
| Subtotal | $53,071,393 | SubtotalAmt |
| Other Decreases | $9,366 | OtherDecreasesAmt |
| Tot Net Ast Or Fund Balances EOY | $53,062,027 | TotNetAstOrFundBalancesEOYAmt |
Cap Gains Loss Tx Invst Incm Detail CapGainsLossTxInvstIncmDetail
Cap Gains Loss Tx Invst Incm CapGainsLossTxInvstIncmGrp (27 entries)
| PropertyPropertyDesc | How AcquiredHowAcquiredCd | Gross Sales PriceGrossSalesPriceAmt | Cost Or Other BasisCostOrOtherBasisAmt | Gain Or LossGainOrLossAmt | Gains Minus Excess Or LossesGainsMinusExcessOrLossesAmt |
|---|---|---|---|---|---|
| ML 9007 ST COVERED | P | $2,610,761 | $2,627,369 | -$16,608 | -$16,608 |
| MS RF 1870 ST COVERED | P | $73,285 | $65,726 | $7,559 | $7,559 |
| ML 9007 LT COVERED | P | $12,489,156 | $11,686,181 | $802,975 | $802,975 |
| MS RF 1870 LT COVERED | P | $1,241,220 | $761,556 | $479,664 | $479,664 |
| GS MAIN 0570 ST COVERED | P | $697,020 | $664,648 | $32,372 | $32,372 |
| MS RF 1871 ST COVERED | P | $276,442 | $265,721 | $10,721 | $10,721 |
| GS MAIN 0570 LT COVERED | P | $1,913,780 | $1,293,977 | $619,803 | $619,803 |
| MS RF 1871 LT COVERED | P | $1,277,064 | $746,144 | $530,920 | $530,920 |
| GS GOV CORP 1138 ST COVERED | P | $244,348 | $238,174 | $6,174 | $6,174 |
| MS RF 1872 ST COVERED | P | $31,901 | $33,788 | -$1,887 | -$1,887 |
| GS GOV CORP 1138 LT COVERED | P | $881,446 | $919,670 | -$38,224 | -$38,224 |
| MS RF 1872 LT COVERED | P | $284,179 | $210,643 | $73,536 | $73,536 |
| GS GOV CORP 1138 NONCOVERED 227,300 | P | $217,824 | $216,689 | $1,135 | $1,135 |
| MS RF 9381 ST COVERED | P | $263,943 | $279,907 | -$15,964 | -$15,964 |
| GS APERIO 7253 ST NONCOVERED | P | $86 | $86 | $86 | |
| MS RF 9381 LT COVERED | P | $727,347 | $608,723 | $118,624 | $118,624 |
| GS APERIO 7253 ST COVERED | P | $40,617 | $42,254 | -$1,637 | -$1,637 |
| K-1 BLACKSTONE PER HOLDINGS | P | $456 | -$456 | -$456 | |
| GS APERIO 7253 LT COVERED | P | $254,778 | $87,746 | $167,032 | $167,032 |
| K-1 QUESTMARK PARTNERS III | P | $92,777 | -$92,777 | -$92,777 | |
| MS RF 1453 ST COVERED | P | $699,638 | $679,175 | $20,463 | $20,463 |
| K-1 VINTAGE IX | P | $1,935 | $1,935 | $1,935 | |
| MS RF 1453 LT COVERED | P | $250,062 | $242,713 | $7,349 | $7,349 |
| CAPITAL GAIN DISTRIBUTIONS | P | $122,075 | $122,075 | $122,075 | |
| MS RF 1869 ST COVERED | P | $463,200 | $409,848 | $53,352 | $53,352 |
| MS RF 1869 LT COVERED | P | $1,454,373 | $992,051 | $462,322 | $462,322 |
| MS RF 1869 LT NONCOVERED | P | $33,288 | $1,464 | $31,824 | $31,824 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Capital Gain Net Income | $3,382,368 | CapitalGainNetIncomeAmt |
| Net Short Term Capital Gain Loss | $3,382,368 | NetShortTermCapitalGainLossAmt |
Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Income Excise Tax | $65,242 | InvestmentIncomeExciseTaxAmt |
| Subtotal | $65,242 | SubtotalAmt |
| Tax Based On Investment Income | $65,242 | TaxBasedOnInvestmentIncomeAmt |
| Estimated Plus Ovpmt Incm Tx | $55,801 | EstimatedPlusOvpmtIncmTxAmt |
| Total Payments And Credits | $55,801 | TotalPaymentsAndCreditsAmt |
| Tax Due | $9,441 | TaxDueAmt |
Statements Regarding Acty StatementsRegardingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Legislative Political Acty | false | LegislativePoliticalActyInd |
| More Than100 Spent | false | MoreThan100SpentInd |
| Form1120 POL Filed | false | Form1120POLFiledInd |
| Activities Not Previously Rpt | false | ActivitiesNotPreviouslyRptInd |
| Changes To Articles Or Bylaws | false | ChangesToArticlesOrBylawsInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Organization Dissolved Etc | false | OrganizationDissolvedEtcInd |
| Section508e Rqr Satisfied | Yes (true) | Section508eRqrSatisfiedInd |
| At Least5000 In Assets | Yes (true) | AtLeast5000InAssetsInd |
| Org Report Or Register State | MD | OrgReportOrRegisterStateCd |
| Form990 PF Filed With Atty Gen | Yes (true) | Form990PFFiledWithAttyGenInd |
| Private Operating Foundation | false | PrivateOperatingFoundationInd |
| New Substantial Contributors | false | NewSubstantialContributorsInd |
| Own Controlled Entity | false | OwnControlledEntityInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Comply With Public Insp Rqr | Yes (true) | ComplyWithPublicInspRqrInd |
| Website Address | WWW.RATCLIFFEFOUNDATION.COM | WebsiteAddressTxt |
| Individual With Books | CARLENE M CASSIDY | IndividualWithBooksNm |
| Phone | 6674587991 | PhoneNum |
Location Of Books US Address LocationOfBooksUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 275 WEST STREET SUITE 109 | AddressLine1Txt |
| City | ANNAPOLIS | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 21401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Foreign Accounts Question | false | ForeignAccountsQuestionInd |
Statements Regarding Acty4720 StatementsRegardingActy4720Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Sale Or Exch Disqualified Prsn | false | SaleOrExchDisqualifiedPrsnInd |
| Brrw Or Lend Disqualified Prsn | false | BrrwOrLendDisqualifiedPrsnInd |
| Furn Goods Disqualified Prsn | false | FurnGoodsDisqualifiedPrsnInd |
| Pay Comp Disqualified Prsn | false | PayCompDisqualifiedPrsnInd |
| Transfer Ast Disqualified Prsn | false | TransferAstDisqualifiedPrsnInd |
| Payment To Government Official | false | PaymentToGovernmentOfficialInd |
| Undistributed Income PY | false | UndistributedIncomePYInd |
| Business Holdings | false | BusinessHoldingsInd |
| Jeopardy Investments | false | JeopardyInvestmentsInd |
| Uncorrected PY Jeopardy Invst | false | UncorrectedPYJeopardyInvstInd |
| Influence Legislation | false | InfluenceLegislationInd |
| Influence Election | false | InfluenceElectionInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Noncharitable Purpose | false | NoncharitablePurposeInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp
Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | TitleTitleTxt | Average Hrs Per Wk Devoted To PosAverageHrsPerWkDevotedToPosRt | CompensationCompensationAmt | Employee Benefit ProgramEmployeeBenefitProgramAmt | Expense Account Other AllwncExpenseAccountOtherAllwncAmt |
|---|---|---|---|---|---|---|---|---|
| JAMES D WRIGHT | ||||||||
| 6445 CLOISTER GATE DRIVE | BALTIMORE | MD | 21212 | PRESIDENT | 5.00 | $75,000 | $0 | $0 |
| TINA DAVENPORT | ||||||||
| 275 WEST STREET SUITE 109 | ANNAPOLIS | MD | 21401 | TRUSTEE | 5.00 | $60,000 | $0 | $0 |
| JAMES A CLAUSON | ||||||||
| 2613 CABOVER DRIVE | HANOVER | MD | 21076 | TRUSTEE | 1.00 | $0 | $0 | $0 |
Compensation Highest Paid Empl CompensationHighestPaidEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CARLENE M CASSIDY | PersonNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 25 UPSHUR AVENUE | AddressLine1Txt |
| City | ANNAPOLIS | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 214034506 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Title | CHIEF EXEC O | TitleTxt |
| Average Hrs Per Wk Devoted To Pos | 40.00 | AverageHrsPerWkDevotedToPosRt |
| Compensation | $195,020 | CompensationAmt |
| Employee Benefits | $25,170 | EmployeeBenefitsAmt |
Compensation Of Hghst Pd Cntrct CompensationOfHghstPdCntrctGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Service TypeServiceTypeTxt | CompensationCompensationAmt |
|---|---|---|---|---|---|
| MORGAN STANLEY | |||||
| 1585 BROADWAY | NEW YORK | NY | 10036 | INVESTMENT SVCS | $137,694 |
| MERRILL LYNCH | |||||
| 200 PARK AVE 13TH FLOOR | NEW YORK | NY | 10166 | INVESTMENT SVCS | $85,153 |
Sum Of Program Related Invst SumOfProgramRelatedInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description1 | N/A | Description1Txt |
Minimum Investment Return MinimumInvestmentReturnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Average Monthly FMV Of Sec | $55,101,167 | AverageMonthlyFMVOfSecAmt |
| Average Monthly Cash Balances | $2,424,506 | AverageMonthlyCashBalancesAmt |
| FMV All Other Noncharitable Ast | $0 | FMVAllOtherNoncharitableAstAmt |
| Total FMV Of Unused Assets | $57,525,673 | TotalFMVOfUnusedAssetsAmt |
| Adjusted Total FMV Of Unused Ast | $57,525,673 | AdjustedTotalFMVOfUnusedAstAmt |
| Cash Deemed Charitable | $862,885 | CashDeemedCharitableAmt |
| Net Vl Noncharitable Assets | $56,662,788 | NetVlNoncharitableAssetsAmt |
| Minimum Investment Return | $2,833,139 | MinimumInvestmentReturnAmt |
Distributable Amount DistributableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Minimum Investment Return | $2,833,139 | MinimumInvestmentReturnAmt |
| Tax Based On Investment Income | $65,242 | TaxBasedOnInvestmentIncomeAmt |
| Total Tax | $65,242 | TotalTaxAmt |
| Distributable Before Adj | $2,767,897 | DistributableBeforeAdjAmt |
| Distributable Before Ded | $2,767,897 | DistributableBeforeDedAmt |
| Distributable As Adjusted | $2,767,897 | DistributableAsAdjustedAmt |
PF Qualifying Distributions PFQualifyingDistributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expenses And Contributions | $8,979,480 | ExpensesAndContributionsAmt |
| Qualifying Distributions | $8,979,480 | QualifyingDistributionsAmt |
Undistributed Income UndistributedIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Distributable As Adjusted | $2,767,897 | DistributableAsAdjustedAmt |
| Excess Distribution Cyov Yr5 | $2,225,578 | ExcessDistributionCyovYr5Amt |
| Excess Distribution Cyov Yr4 | $4,136,620 | ExcessDistributionCyovYr4Amt |
| Excess Distribution Cyov Yr3 | $3,552,115 | ExcessDistributionCyovYr3Amt |
| Excess Distribution Cyov Yr2 | $4,359,270 | ExcessDistributionCyovYr2Amt |
| Excess Distribution Cyov Yr1 | $5,362,129 | ExcessDistributionCyovYr1Amt |
| Total Excess Distribution Cyov | $19,635,712 | TotalExcessDistributionCyovAmt |
| Qualifying Distributions | $8,979,480 | QualifyingDistributionsAmt |
| Applied To Current Year | $2,767,897 | AppliedToCurrentYearAmt |
| Remaining Distri From Corpus | $6,211,583 | RemainingDistriFromCorpusAmt |
| Total Corpus | $25,847,295 | TotalCorpusAmt |
| Undistributed Income CY | $0 | UndistributedIncomeCYAmt |
| Excess Distri Cyov From Yr5 | $2,225,578 | ExcessDistriCyovFromYr5Amt |
| Excess Distri Cyov To Next Yr | $23,621,717 | ExcessDistriCyovToNextYrAmt |
| Excess From Year4 | $4,136,620 | ExcessFromYear4Amt |
| Excess From Year3 | $3,552,115 | ExcessFromYear3Amt |
| Excess From Year2 | $4,359,270 | ExcessFromYear2Amt |
| Excess From Year1 | $5,362,129 | ExcessFromYear1Amt |
| Excess From Current Year | $6,211,583 | ExcessFromCurrentYearAmt |
Supplementary Information SupplementaryInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributing Manager | NONE | ContributingManagerNm |
| Shareholder Manager | NONE | ShareholderManagerNm |
Application Submission Info ApplicationSubmissionInfoGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Person | CARLENE M CASSIDY | RecipientPersonNm |
Recipient US Address RecipientUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 275 WEST ST SUITE 109 | AddressLine1Txt |
| City | ANNAPOLIS | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 21401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient Phone | 6674587991 | RecipientPhoneNum |
| Recipient Email Address | CMCASSIDY@RATCLIFFEFOUNDATION.COM | RecipientEmailAddressTxt |
| Form And Info And Materials | A WRITTEN LETTER REGARDING THE NATURE AND USE OF REQUESTED GRANT, ALONG WITH A COPY OF THE IRS NON-PROFIT DETERMINATION LETTER, IS REQUIRED. | FormAndInfoAndMaterialsTxt |
| Submission Deadlines | THE FOUNDATION HAS NO SUBMISSION DEADLINES. | SubmissionDeadlinesTxt |
| Restrictions On Awards | THE FOUNDATION HAS NO RESTRICTIONS OR LIMITATIONS ON AWARDS. | RestrictionsOnAwardsTxt |
Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (24 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| AACC FOUNDATION - ESI 2022 | ||||||
| 101 COLLEGE PARKWAY | ARNOLD | MD | 210121895 | PC | UNRESTRICTED USE BY RECIPIENT | $300,000 |
| CCBC - 2022 | ||||||
| 7200 SOLLERS POINT RD | BALTIMORE | MD | 21222 | PC | UNRESTRICTED USE BY RECIPIENT | $275,000 |
| CCBC - 2024 | ||||||
| 7200 SOLLERS POINT RD | BALTIMORE | MD | 21222 | PC | UNRESTRICTED USE BY RECIPIENT | $810,913 |
| CHILDREN'S HOME 2024 | ||||||
| 215 WALTHAM FARM LAND | CENTREVILLE | MD | 21617 | PC | UNRESTRICTED USE BY RECIPIENT | $70,000 |
| FIU - 2024 | ||||||
| 11200 SW 8TH STREET | MIAMI | FL | 33199 | PC | UNRESTRICTED USE BY RECIPIENT | $380,000 |
| FIU FL INTERNATIONAL UNIVERSITY | ||||||
| 11200 SW 8TH STREET | MIAMI | FL | 33199 | PC | UNRESTRICTED USE BY RECIPIENT | $312,500 |
| HAGERSTOWN CC - 2024 | ||||||
| 401 THOMAS RUN RD | BEL AIR | MD | 21015 | PC | UNRESTRICTED USE BY RECIPIENT | $53,526 |
| HORIZONS OF KENT & QUEEN - 2023 | ||||||
| 116B S LYNCHBURG STREET | CHESTERTOWN | MD | 21620 | PC | UNRESTRICTED USE BY RECIPIENT | $50,000 |
| IMET REEF - 2023 | ||||||
| 701 E PRATT STREET | BALTIMORE | MD | 21202 | PC | UNRESTRICTED USE BY RECIPIENT | $270,656 |
| MICA | ||||||
| 1300 W MOUNT ROYAL AVE | BALTIMORE | MD | 21217 | PC | UNRESTRICTED USE BY RECIPIENT | $441,000 |
| MOUNTAIN GATEWAY CC - SCHOLARSHIPS | ||||||
| 1000 COLLEGE DRIVE | CLIFTON | VA | 24422 | PC | UNRESTRICTED USE BY RECIPIENT | $30,000 |
| MOUNTAIN GATEWAY CC - 2024 | ||||||
| 1000 COLLEGE DRIVE | CLIFTON | VA | 24422 | PC | UNRESTRICTED USE BY RECIPIENT | $400,000 |
| NACCE - 2023 | ||||||
| 1 FEDERAL ST BLDG 101 | SPRINGFIELD | MA | 01105 | PC | UNRESTRICTED USE BY RECIPIENT | $240,000 |
| OPEN WORKS - 2024 | ||||||
| 1400 GREENMOUNT AVENUE | BALTIMORE | MD | 21202 | PC | UNRESTRICTED USE BY RECIPIENT | $16,500 |
| PATRICK & HENRY CC - 2024 | ||||||
| 645 PATRIOT AVENUE | MARTINSVILLE | VA | 24112 | PC | UNRESTRICTED USE BY RECIPIENT | $176,267 |
| PAUL D CAMP CC - 2024 | ||||||
| 100 N COLLEGE DRIVE | FRANKLIN | VA | 23851 | PC | UNRESTRICTED USE BY RECIPIENT | $125,000 |
| PROJECT OPPORTUNITY - 2023 | ||||||
| 31901 TRI-COUNTY WAY | SALISBURY | MD | 21804 | PC | UNRESTRICTED USE BY RECIPIENT | $94,971 |
| SU - 2023 | ||||||
| 1101 CAMDEN AVENUE | SALISBURY | MD | 21801 | PC | UNRESTRICTED USE BY RECIPIENT | $300,000 |
| TIDEWATER BOAT - 2024 | ||||||
| PO BOX 1243 | NORFOLK | VA | 23501 | PC | UNRESTRICTED USE BY RECIPIENT | $60,000 |
| UNIVERSITY OF DELAWARE REEF | ||||||
| 83 E MAIN ST 3RD FLOOR | NEWARK | DE | 19716 | PC | UNRESTRICTED USE BY RECIPIENT | $149,200 |
| WASHINGTON COLLEGE - 2024 | ||||||
| 300 WASHINGTON AVENUE | CHESTERTOWN | MD | 21620 | PC | UNRESTRICTED USE BY RECIPIENT | $152,000 |
| YMCA OF QUEEN ANNE'S COUNTY - 2020 | ||||||
| 1210 VINCIT ST | CENTERVILLE | MD | 21617 | PC | UNRESTRICTED USE BY RECIPIENT | $3,000,000 |
| FERRY COVE SHELLFISH - 2024 | ||||||
| 21770 LOWEST WHARF ROAD | SHERWOOD | MD | 21665 | PC | UNRESTRICTED USE BY RECIPIENT | $1,000,000 |
| HEALS INC | ||||||
| 515 SPARKMAN DRIVE | HUNTSVILLE | AL | 35816 | PC | UNRESTRICTED USE BY RECIPIENT | $3,109 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Pd Dur Yr | $8,710,642 | TotalGrantOrContriPdDurYrAmt |
Grant Or Contri Apprv For Fut GrantOrContriApprvForFutGrp (11 entries)
| Address Line1RecipientUSAddress/AddressLine1Txt | CityRecipientUSAddress/CityNm | State AbbreviationRecipientUSAddress/StateAbbreviationCd | ZIPRecipientUSAddress/ZIPCd | Recipient Foundation StatusRecipientFoundationStatusTxt | Grant Or Contribution PurposeGrantOrContributionPurposeTxt | AmtAmt |
|---|---|---|---|---|---|---|
| CCBC - 2024 | ||||||
| 7200 SOLLERS POINT RD | BALTIMORE | MD | 21222 | PC | UNRESTRICTED USE BY RECIPIENT | $2,041,665 |
| CHILDREN'S HOME 2024 | ||||||
| 215 WALTHAM FARM LAND | CENTREVILLE | MD | 21617 | PC | UNRESTRICTED USE BY RECIPIENT | $140,000 |
| FIU - 2024 | ||||||
| 11200 SW 8TH STREET | MIAMI | FL | 33199 | PC | UNRESTRICTED USE BY RECIPIENT | $1,900,000 |
| HAGERSTOWN CC - 2024 | ||||||
| 401 THOMAS RUN RD | BEL AIR | MD | 21015 | PC | UNRESTRICTED USE BY RECIPIENT | $107,662 |
| NACCE - 2023 - ADDED TO GRANT 2024 | ||||||
| 1 FEDERAL ST BLDG 101 | SPRINGFIELD | MA | 01105 | PC | UNRESTRICTED USE BY RECIPIENT | $70,000 |
| OPEN WORKS - 2024 | ||||||
| 1400 GREENMOUNT AVENUE | BALTIMORE | MD | 21202 | PC | UNRESTRICTED USE BY RECIPIENT | $51,500 |
| PAUL D CAMP CC - 2024 | ||||||
| 100 N COLLEGE DRIVE | FRANKLIN | VA | 23851 | PC | UNRESTRICTED USE BY RECIPIENT | $125,000 |
| TIDEWATER BOAT - 2024 | ||||||
| PO BOX 1243 | NORFOLK | VA | 23501 | PC | UNRESTRICTED USE BY RECIPIENT | $120,000 |
| WASHINGTON COLLEGE - 2024 | ||||||
| 300 WASHINGTON AVENUE | CHESTERTOWN | MD | 21620 | PC | UNRESTRICTED USE BY RECIPIENT | $1,694,000 |
| ORP FARM MGMT TOOL | ||||||
| 1805 VIRGINIA ST | ANNAPOLIS | MD | 21401 | PC | UNRESTRICTED USE BY RECIPIENT | -$75,000 |
| SU SCHOLARSHIP | ||||||
| 1308 CAMDEN AVE | SALISBURY | MD | 21801 | PC | UNRESTRICTED USE BY RECIPIENT | -$28,050 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grant Or Contri Apprv Fut | $6,146,777 | TotalGrantOrContriApprvFutAmt |
Analysis Income Producing Acty AnalysisIncomeProducingActyGrp
Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $653,472 | ExclusionAmt |
Dividends And Interest From Sec Dtl DividendsAndInterestFromSecDtl
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 14 | ExclusionCd |
| Exclusion | $923,819 | ExclusionAmt |
Gain Sales Ast Oth Than Invntry GainSalesAstOthThanInvntryGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | 18 | ExclusionCd |
| Exclusion | $3,382,368 | ExclusionAmt |
Other Revenue Described OtherRevenueDescribedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANOUS INCOME | Desc |
| Related Or Exempt Function Incm | $35,414 | RelatedOrExemptFunctionIncmAmt |
Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Exclusion | $4,959,659 | ExclusionAmt |
| Related Or Exempt Function Incm | $35,414 | RelatedOrExemptFunctionIncmAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Income Producing Acty | $4,995,073 | TotalIncomeProducingActyAmt |
Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trnsfr Of Cash To Nonchrtbl EO | false | TrnsfrOfCashToNonchrtblEOInd |
| Trnsfr Other Asset Nonchrtbl EO | false | TrnsfrOtherAssetNonchrtblEOInd |
| Sales Or Exchanges Of Assets | false | SalesOrExchangesOfAssetsInd |
| Purchase Of Assets Nonchrtbl EO | false | PurchaseOfAssetsNonchrtblEOInd |
| Rental Of Facilities Oth Assets | false | RentalOfFacilitiesOthAssetsInd |
| Reimbursement Arrangements | false | ReimbursementArrangementsInd |
| Loans Or Loan Guarantees | false | LoansOrLoanGuaranteesInd |
| Performance Of Services Etc | false | PerformanceOfServicesEtcInd |
| Sharing Of Facilities Etc | false | SharingOfFacilitiesEtcInd |
| Relationships Nonchrtbl EO | false | RelationshipsNonchrtblEOInd |
Accounting Fees Schedule AccountingFeesSchedule
Accounting Fees Detail AccountingFeesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Category | ACCOUNTING FEES | CategoryTxt |
| Amt | $37,250 | Amt |
Depreciation Schedule DepreciationSchedule
Depreciation Property DepreciationPropertyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prior Year Depreciation | $3,803 | PriorYearDepreciationAmt |
| Current Year Expense | $1,409 | CurrentYearExpenseAmt |
Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule
Investments Corporate Bonds InvestmentsCorporateBondsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond | MERRILL LYNCH ACCT 9847 - BONDS | BondNm |
Investments Corp Stock Schedule InvestmentsCorpStockSchedule
Investments Corporate Stock InvestmentsCorporateStockGrp (12 entries)
| StockStockNm | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|
| MARKETABLE SECURITIES-GOLDMAN SACHS | $13,580,270 | $17,440,232 |
| MORGAN STANLEY ACCT1453-SECURITIES | $4,761,713 | $4,859,276 |
| MERRILL LYNCH ACCT 9847-SECURITIES | ||
| MORGAN STANLEY ACCT1870-SECURITIES | $1,868,258 | $2,847,157 |
| MORGAN STANLEY ACCT1869-SECURITIES | $2,401,277 | $3,886,310 |
| MORGAN STANLEY ACCT1867 (9381) | $1,879,168 | $2,587,508 |
| MORGAN STANLEY ACCT1871-SECURITIES | ||
| MORGAN STANLEY ACCT1872-SECURITIES | $784,162 | $1,039,691 |
| MORGAN STANLEY ACCT1868-SECURITIES | $419,844 | $568,106 |
| MERRILL LYNCH ACCT02381-SECURITIES | $497,500 | $498,760 |
| MERRILL LYNCH ACCT 02547-SECURITIE | $4,028,686 | $6,279,787 |
| MORGAN STANLEY ACCT 188714-SECURITI | $1,404,446 | $1,432,505 |
Investments Other Schedule2 InvestmentsOtherSchedule2
Investments Other InvestmentsOtherGrp (4 entries)
| Category Or ItemCategoryOrItemTxt | Listed At Cost Or FMVListedAtCostOrFMVCd | Book ValueBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| INVESTMENT IN PER HOLDINGS | AT COST | $67,634 | $464,451 |
| LOAN RECEIVABLE | AT COST | ||
| INVESTMENT VINTAGE IX OFFSHORE | AT COST | $604,555 | $604,555 |
| INVESTMENT IN QUESTMARK PARTNERS III | AT COST |
Land Etc Schedule2 LandEtcSchedule2
Land Etc LandEtcGrp (5 entries)
| Category Or ItemCategoryOrItemTxt | Cost Or Other BasisCostOrOtherBasisAmt | Book ValueBookValueAmt | EOYFMVEOYFMVAmt | Accumulated DepreciationAccumulatedDepreciationAmt |
|---|---|---|---|---|
| BUILDING - FERRY COVE PROJECT | $17,456,695 | $17,456,695 | $17,456,695 | |
| EQUIPMENT - FERRY COVE PROJECT | $965,116 | $965,116 | $965,116 | |
| FURNITURE | $9,863 | $4,157 | $4,157 | $5,706 |
| FURNITURE - FERRY COVE PROJECT | $3,674 | $3,674 | $3,674 | |
| LAND - FERRY COVE PROJECT | $1,179,795 | $1,179,795 | $1,179,795 |
Other Assets Schedule OtherAssetsSchedule
Other Assets Schedule OtherAssetsScheduleGrp (2 entries)
| DescDesc | BOY Book ValueBOYBookValueAmt | EOY Book ValueEOYBookValueAmt | EOYFMVEOYFMVAmt |
|---|---|---|---|
| ORGANIZATION EXPENSES | $4,765 | $4,765 | $4,765 |
| K-1 QUESTMARK DISTRIB. RECEIVABLE | $2,387 | $2,387 |
Other Decreases Schedule OtherDecreasesSchedule
Other Decreases Detail OtherDecreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | BOOK/1099 INVESTMENT VARIANCE | Desc |
| Amt | $9,366 | Amt |
Other Expenses Schedule OtherExpensesSchedule
Other Expenses Schedule OtherExpensesScheduleGrp (18 entries)
| DescDesc | Revenue And Expenses Per BooksRevenueAndExpensesPerBooksAmt |
|---|---|
| EXPENSES | |
| INSURANCE | $31,753 |
| PORTFOLIO EXPENSES | $25,291 |
| OFFICE EXPENSES | $4,199 |
| EQUIPMENT EXPENSE | $1,957 |
| TELEPHONE | $4,276 |
| GIFTS | $4,873 |
| TRAINING & DEVELOPMENT | $3,999 |
| SUPPLIES & SOFTWARE | $6,966 |
| DUES & SUBCRIPTIONS | $832 |
| BANK CHARGES | $1,425 |
| ADVERTISING & MARKETING | $1,995 |
| WEBSITE | $12,082 |
| REPAIRS & MAINTENANCE | $7,830 |
| COMPUTER EXPENSE | $5,423 |
| BAD DEBT EXPENSE | $522,276 |
| OTHER EXPENSES | $1,755 |
| LOSS ON PRIVATELY HELD INVEST | $1,000,000 |
Other Income Schedule2 OtherIncomeSchedule2
Other Income Detail OtherIncomeDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANOUS INCOME | Desc |
| Revenue And Expenses Per Books | $35,414 | RevenueAndExpensesPerBooksAmt |
| Net Investment Income | $35,414 | NetInvestmentIncomeAmt |
Other Increases Schedule OtherIncreasesSchedule
Other Increases Detail OtherIncreasesDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DISALLOWED WASH SALES | Desc |
| Amt | $22,198 | Amt |
Other Notes Loans Rcvbl Short Sch2 OtherNotesLoansRcvblShortSch2
Other Notes Loans Rcvbl Short OtherNotesLoansRcvblShortGrp
Organization501c3 Name Organization501c3Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LOAN RECEIVABLE | BusinessNameLine1Txt |
Other Professional Fees Schedule OtherProfessionalFeesSchedule
Other Professional Fees Detail OtherProfessionalFeesDetail (3 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt |
|---|---|---|
| INVESTMENT FEES | $301,402 | $301,402 |
| PAYROLL SERVICES | $5,859 | |
| OTHER PROFESSIONAL FEES | $14,535 |
Taxes Schedule TaxesSchedule
Taxes Detail TaxesDetail (3 entries)
| CategoryCategoryTxt | AmtAmt | Net Investment IncomeNetInvestmentIncomeAmt | Adjusted Net IncomeAdjustedNetIncomeAmt |
|---|---|---|---|
| OTHER TAXES | $442 | ||
| K-1 BLACKSTONE FOREIGN TAX | $5 | $5 | |
| 2024 990-PF TAX | $65,242 | $65,242 |