Samuel L Westerman Foundation
- Assets
- $5.3m
- Revenue
- $516.7k
- Investments
- $5.1m
- Employees
- 0
- Location
- Bloomfield Hills, MI
- Founding
- 06/1971
- Data as of
- 12/2023
- EIN
- 23-7108795
Organization Overview
Samuel L Westerman Foundation is located in Bloomfield Hills, MI. The organization was established in 1971. 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. Samuel L Westerman 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, Samuel L Westerman Foundation generated $516.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $602.3k during the year ending 12/2023. While expenses have increased by 1.5% per year over the past 5 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, Samuel L Westerman Foundation has awarded 630 individual grants totaling $2,736,792. 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 |
|---|---|---|---|
James H Loprete President | 2 | $0 | |
Kent G Loprete Vice President | 1 | $0 | |
Cameron K Muir Treasurer | 1 | $4,000 | |
Gordon Muir Vice President | 1 | $0 | |
Ruth R Loprete Grant Officer | 3 | $3,000 | |
Mary M Lyneis Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $208,940 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $307,769 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $516,709 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $23,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,460 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $13,404 |
| Printing and publications | $0 |
| Other expenses | $5,528 |
| Total operating and administrative expenses | $53,578 |
| Contributions, gifts, grants paid | $548,725 |
| Total expenses and disbursements | $602,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170,148 |
| 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 | $5,096,397 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,266,545 |
| 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, Samuel L Westerman Foundation has awarded $663,725 in support to 153 organizations.
| Grant Recipient | Amount |
|---|---|
ADRIAN DOMINICAN SISTERS PURPOSE: RELIGIOUS | $2,000 |
AGE WELL SERVICES PURPOSE: CHARITABLE | $1,000 |
BENJAMIN'S HOPE PURPOSE: RELIGIOUS | $2,000 |
ALLENDALE CHRISTIAN SCHOOL PURPOSE: EDUCATIONAL | $10,000 |
ALZHEIMER'S ASSOCIATION GREAT MICHIGAN CHAPTER PURPOSE: CHARITABLE | $5,000 |
AMERICAN PIANISTS ASSOCIATION INC PURPOSE: CHARITABLE | $750 |