Glens Falls Foundation
- Assets
- $25.0m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Glens Falls, NY
- Founding
- 07/1944
- Data as of
- 12/2021
- EIN
- 14-6036390
Organization Overview
Glens Falls Foundation is located in Glens Falls, NY. The organization was established in 1944. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Glens Falls 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 12/2021, Glens Falls Foundation generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $755.6k during the year ending 12/2021. While expenses have increased by 5.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Glens Falls Foundation has awarded 160 individual grants totaling $2,360,767. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE QUALITY OF LIFE FOR THE PEOPLE OF THE GREATER GLENS FALLS AREA THROUGH GRANTS TO NON-PROFIT ORGANIZATIONS AND DONOR-DIRECTED SCHOLARSHIPS FOR AREA STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS GRANTS AND AWARDS GIVEN TO CHARITABLE AND CIVIC COMMUNITY ORGANIZATIONS.
SCHOLARSHIPS FOR HIGH SCHOOL AND COLLEGE STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mrs Donna Perkett Chair | OfficerTrustee | 0.5 | $0 |
Mr Mark Behan Vice Chair | OfficerTrustee | 0.5 | $0 |
Mrs Cheryl Potvin Hogan Director | Trustee | 0.5 | $0 |
Dr Jim Fuchs Director | Trustee | 0.5 | $0 |
Dr Stacey Mandelbaum Director | Trustee | 0.5 | $0 |
Dr Howard Fritz Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $979,286 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $979,286 |
| Total Program Service Revenue | $0 |
| Investment income | $547,780 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $483,401 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,010,467 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $358,004 |
| Grants and other assistance to domestic individuals. | $254,631 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $36,000 |
| Fees for services: Legal | $180 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $95,123 |
| Fees for services: Other | $900 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,622 |
| All other expenses | $0 |
| Total functional expenses | $755,558 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,356,247 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $23,688,438 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,044,685 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $9,405,447 |
| Net assets with donor restrictions | $15,639,238 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $25,044,685 |
Grants Awarded
Over the last fiscal year, Glens Falls Foundation has awarded $274,600 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
Glens Falls, NY PURPOSE: General Grant to Organization | $38,744 |
Albany, NY PURPOSE: General Grant to Organization | $25,000 |
Glens Falls, NY PURPOSE: General Grant to Organization | $20,000 |
Queensbury, NY PURPOSE: General Grant to Organization | $15,000 |
GANSEVOORT CEMETERY INC PURPOSE: General Grant to Organization | $14,550 |
Queensbury, NY PURPOSE: General Grant to Organization | $13,597 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Glens Falls Foundation has recieved totaling $50,500.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $50,500 |
Endowment Analysis
| Beg. Balance | $18,974,724 |
| Earnings | $2,478,376 |
| Net Contributions | $347,137 |
| Grants | $601,396 |
| Ending Balance | $21,198,841 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Adelson Family Foundation Needham, MA | $5,626,414 | $49,822,227 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |
Big East Conference Inc New York, NY | $25,429,264 | $59,716,596 |