Wedge Foundation INC EIN 84-5012797

Wedge Foundation INC

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A private foundation based in Louisville, KY. It reported about $365K in revenue for 2024. For fiscal year 2024 it reported $365K in revenue, $784K in expenses, and $3.6M in net assets.Pt I

Type
Private foundation / grantmaker · Foundations & Grantmakers
Location
Louisville, KY
Filings
5 on file (2020–2024)
Revenue
$365KFY2024
Expenses
$784K
Net assets
$3.6M
People
5
Filings
5
Updates
0
More identity details & actions ⌄
EIN  84-5012797 Private foundation / grantmaker Louisville, KY
Form 990 (PDF)
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Size
$100K–1M
What they do
A private foundation based in Louisville, KY. It reported about $365K in revenue for 2024.
Leadership
Paul Wedge III · President · $126K
Money in and out
$365K revenue, $784K expenses
Bottom line
Grants paid & assets · FY2024
Total revenue
$365K
Pt VIII · Ln 12
Total expenses
$784K
Pt IX · Ln 25
Net assets
$3.6M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$418K
Total assets
3.8M
deployed as grants and operations
Grants paid
212K
in FY2024
Grants made
4grants
total in period
Payout rate
6%
of assets (5% rule)

Who They Fund

Part XV · grants paid · 4 grants · $212K · 2024–2024
University of KentuckyFY2024$175,698
Davis Love FoundationFY2024$25,000
The Samuel L Asbury FoundationFY2024$10,000
Christ Church United MethodistFY2024$1,000

Grantmaking Profile

Patterns in foundation giving
Average grantPart XV$53K
Median grantPart XV$25K
Largest grantPart XV$176K

Summary of the Filing

Part I · fiscal year 2024 · Form 990-PF
Revenue
$365K
FY2024▼ -34%
Expenses
$784K
FY2024▼ -27%
Total assets
$3.8M
FY2024▼ -10%
Total liabilities
$132K
FY2024▼ -53%
Total revenue
$365K
Pt VIII · Ln 12
Total expenses
$784K
Pt IX · Ln 25
Net assets
$3.6M
Pt X · Ln 32
Total assetsPt II$3.8M

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWedge Foundation INC
EINHdr · item D84-5012797
Principal addressHdr · item CLouisville, KY
WebsiteHdr · item Jnone reported
State of legal domicileHdr · item MKY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T22)
Ruling yearIRS BMFOct 2020

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a
Whistleblower policyPt VI · Ln 13
Document retention policyPt VI · Ln 14
CEO/top-official compensation independently reviewedPt VI · Ln 15a
Family or business relationships among officers/directorsPt VI · Ln 2

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$126,000Pt VII · Sec A
Director
$40,000Pt VII · Sec A
Director
$36,000Pt VII · Sec A
Director
$2,000Pt VII · Sec A
Director
$2,000Pt VII · Sec A
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Statement of Revenue

Part VIII
Other revenue$268K · 74%
Investment income$97K · 26%
Other revenue74%$268K
Investment income26%$97K
Total revenueLn 12$365K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.27 Operating & administrative $0.73
Grants & contributions paid27%$212K
Operating & administrative73%$572K
Total functional expensesLn 25$784K

Balance Sheet

Part X · end of year
CashLn 1$770
Total assetsLn 16$3.8M
Total liabilitiesLn 26$132K
Total net assetsLn 32$3.6M
Months of cash on handcomputed0.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $3.8M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $365K
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $365K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $365K · Prior year $552K
-34%
Revenue CAGR
FY2020 $5.4M · FY2024 $365K
-49%
Net-asset trend (YoY)
End of year $3.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $365K · Expenses $784K
-115%
Liabilities-to-Assets
Total liabilities — · Total assets $3.8M
Net-asset ratio
Net assets $3.6M · Total assets $3.8M
97%
People & payroll
Highest Reported Total Compensation
Individual Paul Wedge III · Reported title PRESIDENT · Highest reported compensation $126K · Total expenses $784K
16%
Personnel share
not reported
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Revenue growth -34%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$365K revenue · viewing · ⤓ 990 PDF
FY2023$552K revenue · ⤓ 990 PDF
FY2022$430K revenue · ⤓ 990 PDF
FY2021$1.7M revenue · ⤓ 990 PDF
FY2020$5.4M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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