Margaret L Wendt Foundation
- Assets
- $64.6m
- Revenue
- $4.7m
- Investments
- $60.4m
- Employees
- 0
- Location
- Buffalo, NY
- Founding
- 08/1958
- Data as of
- 12/2023
- EIN
- 16-6030037
Organization Overview
Margaret L Wendt Foundation is located in Buffalo, NY. The organization was established in 1958. 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. Margaret L Wendt 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 12/2023, Margaret L Wendt Foundation generated $4.7m 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 (18.4%) each year. All expenses for the organization totaled $4.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Margaret L Wendt Foundation has awarded 247 individual grants totaling $20,764,851. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Lunt Trustee | 20 | $89,665 | |
Jennifer Day Domanski Trustee | 20 | $89,665 | |
Claire Kresse White Trustee | 20 | $89,665 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Barclay Damon Llp | 12/30/23 | $101,370 |
Chiampou Travis Besaw & Kershner Llp | 12/30/23 | $51,510 |
Morgan Stanley Investment Management | 12/30/23 | $292,053 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $4,590 |
| Dividends & Interest | $3,049,159 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,618,541 |
| Capital Gain Net Income | $1,618,541 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,941 |
| Total Revenue | $4,674,231 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $268,995 |
| Other employee salaries and wages | $126,238 |
| Pension plans, employee benefits | $0 |
| Interest | $872,218 |
| Taxes | $144,669 |
| Depreciation | $489 |
| Occupancy | $16,014 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $434,050 |
| Total operating and administrative expenses | $2,340,026 |
| Contributions, gifts, grants paid | $2,288,289 |
| Total expenses and disbursements | $4,628,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,181 |
| Savings and temporary cash investments | $0 |
| 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 | $3,350,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $606,545 |
| Investments—mortgage loans | $0 |
| Investments—other | $425 |
| Net Land, buildings, and equipment | $368 |
| Other assets | $140,658 |
| Total assets | $64,615,125 |
| Accounts payable and accrued expenses | $15,401 |
| Grants payable | $664,661 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $1,500 |
| Total liabilities | $681,562 |
Grants Awarded
Over the last fiscal year, Margaret L Wendt Foundation has awarded $3,344,107 in support to 51 organizations.
| Grant Recipient | Amount |
|---|---|
BE-A-FRIEND PURPOSE: AVAILABLE UPON REQUEST | $24,968 |
BOYS AND GIRLS CLUBS OF WNY PURPOSE: AVAILABLE UPON REQUEST | $100,000 |
BESTSELF PURPOSE: AVAILABLE UPON REQUEST | $150,000 |
BROTHERS OF MERCY PURPOSE: AVAILABLE UPON REQUEST | $48,043 |
BUFFALO PREP PURPOSE: AVAILABLE UPON REQUEST | $80,000 |
BUFFALO PHILHARMONIC ORCHESTRA SOCIETY PURPOSE: AVAILABLE UPON REQUEST | $69,160 |