Spence Family Foundation
- Assets
- $1.6m
- Revenue
- $70.4k
- Investments
- $1.5m
- Employees
- 0
- Location
- Billings, MT
- Founding
- 05/2002
- Data as of
- 11/2022
- EIN
- 04-3619122
Organization Overview
Spence Family Foundation is located in Billings, MT. The organization was established in 2002. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spence Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 11/2022, Spence Family Foundation generated $70.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (18.2%) each year. All expenses for the organization totaled $41.1k during the year ending 11/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Spence Family Foundation has awarded 15 individual grants totaling $171,400. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT OF VARIOUS 501(C)(3) ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Spence III Director | 1 | $0 | |
Benjamin Spence Director | 1 | $0 | |
Nash Spence Director | 1 | $0 | |
Tancy W Spence Secretary/treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $46,492 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $23,878 |
| Capital Gain Net Income | $23,878 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $70,370 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,319 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $6,084 |
| Contributions, gifts, grants paid | $35,000 |
| Total expenses and disbursements | $41,084 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $120,886 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,503,311 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,624,197 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Spence Family Foundation has awarded $35,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Billings, MT PURPOSE: PHILANTHROPIC PURPOSES | $30,000 |
BILLINGS COMMUNITY FOUNDATION PURPOSE: PHILANTHROPIC PURPOSES | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Greg Carr Foundation Inc Idaho Falls, ID | $40,032,587 | $6,894,106 |
Rob and Terry Ryan Foundation (MONTANA) INC Hamilton, MT | $0 | $1,856,642 |
Michael D And Susan H Arnesonfamily Foundation Inc Gallatin Gateway, MT | $0 | $612,050 |
North Dakota Natural Resources Trust Inc Bismarck, ND | $40,272,608 | $8,625,050 |
Allen Wyoming Foundation Inc Cody, WY | $22,700,817 | $3,733,473 |
Mcm Foundation Inc Boise, ID | $0 | $21,729 |
Cross Charitable Foundation Inc Bozeman, MT | $59,251,378 | $4,939,274 |
Tykeson Fam Charitable Tr Ovando, MT | $84,261,165 | $6,505,228 |
Branches Foundation Sioux Falls, SD | $29,470,613 | $4,463,228 |
Mdekfse Family Foundation Meridian, ID | $12,689,894 | $541,122 |
Clark Fork Manor Inc Missoula, MT | $6,226,553 | $2,581,327 |
Edson & Margaret Larson Foundation Grand Forks, ND | $49,885,317 | $8,448,045 |