Coherent Ii-Vi Foundation
- Assets
- $7.4m
- Revenue
- $2.2m
- Investments
- $7.3m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 07/2007
- Data as of
- 12/2023
- EIN
- 20-8824719
Organization Overview
Coherent Ii-Vi Foundation is located in Pittsburgh, PA. 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. Coherent Ii-Vi 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, Coherent Ii-Vi Foundation generated $2.2m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Coherent Ii-Vi Foundation has awarded 222 individual grants totaling $6,606,084. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TWO PROGRAMS1 TARGETED UNDERGRADUATE SCHOLARSHIPS THAT REQUIRE VALUABLE WORK EXPERIENCE 2GRADUATE LEVEL BLOCK-GIFT PROGRAM INVOLVING RESEARCH PROJECTS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard W Purnell Executive Director | 40 | $205,600 | |
Carl J Johnson Chairman Emeritus & Director | 3 | $0 | |
Marc Y E Pelaez Chairman & Director | 3 | $0 | |
Elgin Eissler Director | 3 | $0 | |
Holly S Mccann Esquire Secretary | 3 | $0 | |
J D Brookhart Director | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,300,000 |
| Interest on Savings | $128 |
| Dividends & Interest | $67,823 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $815,020 |
| Capital Gain Net Income | $815,020 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,182,971 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $220,600 |
| Other employee salaries and wages | $26,689 |
| Pension plans, employee benefits | $15,784 |
| Interest | $0 |
| Taxes | $26,663 |
| Depreciation | $235 |
| Occupancy | $1,409 |
| Travel, conferences, and meetings | $5,576 |
| Printing and publications | $0 |
| Other expenses | $164,755 |
| Total operating and administrative expenses | $502,930 |
| Contributions, gifts, grants paid | $1,714,345 |
| Total expenses and disbursements | $2,217,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,334 |
| Savings and temporary cash investments | $96,243 |
| 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 | $37,474 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,887,044 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,437,681 |
| Accounts payable and accrued expenses | $122,216 |
| 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 | $122,216 |
Grants Awarded
Over the last fiscal year, Coherent Ii-Vi Foundation has awarded $1,714,345 in support to 58 organizations.
| Grant Recipient | Amount |
|---|---|
LILLIAN V BANK PURPOSE: SCHOLARSHIP | $10,000 |
KIMBERLY L BETTY PURPOSE: SCHOLARSHIP | $10,000 |
BROOKE E HATHHORN PURPOSE: SCHOLARSHIP | $10,000 |
CADEN J JAMES PURPOSE: SCHOLARSHIP | $10,000 |
ADAM M KASSEM PURPOSE: SCHOLARSHIP | $10,000 |
CAROLINE D KENNEY PURPOSE: SCHOLARSHIP | $10,000 |