Charles P & Margaret E Polk Foundation
- Assets
- $20.0m
- Revenue
- $3.3m
- Investments
- $11.1m
- Employees
- 0
- Location
- Millersburg, PA
- Founding
- 05/1961
- Data as of
- 12/2023
- EIN
- 23-6296772
Organization Overview
Charles P & Margaret E Polk Foundation is located in Millersburg, PA. The organization was established in 1961. 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. Charles P & Margaret E Polk 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, Charles P & Margaret E Polk Foundation generated $3.3m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $4.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE AND MAINTAIN LOW-INCOME APARTMENT COMPLEXES AND AN ASSISTED LIVING PERSONAL CARE FACILITY FOR QUALIFYING ELDERLY PERSONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judy Paul Secretary | 10 | $18,000 | |
David Hawley Chairman | 5 | $24,000 | |
Richard Ibberson Treasurer | 2 | $12,000 | |
J Bruce Walter Vice-Chairman | 2 | $12,000 | |
Edwin Schlegel Asst Treasurer | 2 | $12,000 | |
Crystal L Altland Administrator | 40 | $96,091 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $62,513 |
| Interest on Savings | $4 |
| Dividends & Interest | $337,763 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $67,330 |
| Capital Gain Net Income | $67,330 |
| Net ST Capital Gain | $19,943 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,161,433 |
| Total Revenue | $3,333,570 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $132,091 |
| Other employee salaries and wages | $1,932,828 |
| Pension plans, employee benefits | $347,330 |
| Interest | $148,404 |
| Taxes | $363,182 |
| Depreciation | $411,510 |
| Occupancy | $219,913 |
| Travel, conferences, and meetings | $6,833 |
| Printing and publications | $0 |
| Other expenses | $585,842 |
| Total operating and administrative expenses | $4,279,123 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $4,279,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,364 |
| Savings and temporary cash investments | $65,121 |
| 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 | $4,994 |
| Net Investments - land, buildings, equipment | $2,108,170 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $6,660,792 |
| Other assets | $0 |
| Total assets | $20,041,894 |
| Accounts payable and accrued expenses | $2,406 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $2,244,546 |
| Other liabilities | $0 |
| Total liabilities | $2,246,952 |
Grants Awarded
Over the last fiscal year, Charles P & Margaret E Polk Foundation has awarded $105,970 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GRACE UNITED METHODIST CHURCH PURPOSE: VOLUNTARY DONATION | $5,000 |
ESTATE OF ALLEN SHAFFER PURPOSE: RETURN OF PRINCIPAL | $100,970 |