Helen & Merrill Bank Foundation Inc
- Assets
- $4.4m
- Revenue
- $205.6k
- Investments
- $4.6m
- Employees
- 0
- Location
- Palm Beach, FL
- Founding
- 09/1969
- Data as of
- 06/2023
- EIN
- 23-7031791
Organization Overview
Helen & Merrill Bank Foundation Inc is located in Palm Beach, FL. The organization was established in 1969. 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. Helen & Merrill Bank Foundation Inc 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 06/2023, Helen & Merrill Bank Foundation Inc generated $205.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.0% each year . All expenses for the organization totaled $351.2k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Helen & Merrill Bank Foundation Inc has awarded 71 individual grants totaling $528,647. 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 |
|---|---|---|---|
Penny Bank Trustee | 0.5 | $12,000 | |
Herbert M Bank Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $158,035 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $47,533 |
| Capital Gain Net Income | $47,533 |
| Net ST Capital Gain | $47,533 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $205,568 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $12,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $8,060 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $58 |
| Total operating and administrative expenses | $83,786 |
| Contributions, gifts, grants paid | $267,413 |
| Total expenses and disbursements | $351,199 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$195,247 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,404,920 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Helen & Merrill Bank Foundation Inc has awarded $267,413 in support to 36 organizations.
| Grant Recipient | Amount |
|---|---|
RAYMOND KRAVIS CENT FOR PERFORMING PURPOSE: SUPPORT | $26,000 |
LINDEN HALL SCHOOL PURPOSE: SUPPORT | $4,000 |
THE MARYLAND ZOO IN BALTIMORE PURPOSE: SUPPORT | $8,000 |
NATIONAL AQUARIUM IN BALTIMORE PURPOSE: SUPPORT | $50 |
LEAGUE OF WOMEN VOTERS OF PALM BEAC PURPOSE: SUPPORT | $2,000 |
NEW ENGLAND BAPTIST HOSPITAL PURPOSE: SUPPORT | $5,000 |