Fred A And Barbara M Erb Family Foundation
- Assets
- $367.1m
- Revenue
- $14.3m
- Investments
- $354.3m
- Employees
- 0
- Location
- Royal Oak, MI
- Founding
- 04/2007
- Data as of
- 06/2021
- EIN
- 20-5966333
Organization Overview
Fred A And Barbara M Erb Family Foundation is located in Royal Oak, MI. The organization was established in 2007. 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. Fred A And Barbara M Erb 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 06/2021, Fred A And Barbara M Erb Family Foundation generated $14.3m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $15.5m during the year ending 06/2021. While expenses have increased by 1.2% per year over the past 3 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 2020, Fred A And Barbara M Erb Family Foundation has awarded 708 individual grants totaling $70,005,346. 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 |
|---|---|---|---|
Neil Hawkins President / COO / Trustee | 40 | $354,202 | |
John M Erb Chair / CEO / Trustee | 40 | $207,875 | |
Jodee F Raines Secretary, Executive VP - Part Year | 40 | $160,327 | |
Christine A W Doby Program Officer | 40 | $129,279 | |
Melissa Damaschke Vice President | 40 | $120,182 | |
Mary Lyons-Richards Grants & Operations | 40 | $75,029 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sach | 6/29/21 | $285,740 |
Financial One Accounting | 6/29/21 | $58,807 |
Plante & Moran | 6/29/21 | $72,365 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,436,190 |
| Net Rental Income | $26,400 |
| Net Gain on Sale of Assets | $9,857,156 |
| Capital Gain Net Income | $10,139,052 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $14,319,746 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $841,755 |
| Other employee salaries and wages | $354,626 |
| Pension plans, employee benefits | $233,900 |
| Interest | $100 |
| Taxes | $1,126,824 |
| Depreciation | $66,769 |
| Occupancy | $143,822 |
| Travel, conferences, and meetings | $6,042 |
| Printing and publications | $80,012 |
| Other expenses | $352,266 |
| Total operating and administrative expenses | $4,748,787 |
| Contributions, gifts, grants paid | $10,716,865 |
| Total expenses and disbursements | $15,465,652 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,025,003 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $3,232,292 |
| Investments—mortgage loans | $0 |
| Investments—other | $80,221,824 |
| Net Land, buildings, and equipment | $66,769 |
| Other assets | $1,472,116 |
| Total assets | $367,107,126 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $4,942,518 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $1,683,046 |
| Total liabilities | $6,625,564 |
Grants Awarded
Over the last fiscal year, Fred A And Barbara M Erb Family Foundation has awarded $17,172,040 in support to 216 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: PROGRAM SUPPORT | $600,000 |
Detroit, MI PURPOSE: PROGRAM SUPPORT | $500,000 |
Detroit, MI PURPOSE: PROGRAM SUPPORT | $485,000 |
Wixom, MI PURPOSE: PROGRAM SUPPORT | $455,000 |
CRANBROOK EDUCATIONAL COMMUNITY PURPOSE: PROGRAM SUPPORT | $425,000 |
Washington, DC PURPOSE: PROGRAM SUPPORT | $400,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Meijer Foundation Grand Rapids, MI | $118,103,895 | $43,970,388 |
Nationwide Foundation Columbus, OH | $86,187,581 | $42,470,606 |
Ford Motor Co Fund Dearborn, MI | $173,752,828 | $51,364,996 |
Farmer Family Foundation Cincinnati, OH | $165,004,074 | $63,392,827 |
American Electric Power Foundation Columbus, OH | $61,577,266 | $10,199,855 |
Anthem Foundation Inc Indianapolis, IN | $153,394,091 | $25,472,782 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Dean & Barbara White Family Foundation Inc Merrillville, IN | $792,865,434 | $81,802,743 |
Wilson Sheehan Foundation Springfield, OH | $57,339,515 | $15,119,930 |
Bader Philanthropies Inc Milwaukee, WI | $26,809,232 | $30,829,351 |
The Cummins Foundation Inc Columbus, IN | $50,145,455 | $23,676,992 |
The Samuel And Jean Frankel Jewish Heritage Foundation Troy, MI | $178,134,480 | $24,091,324 |