Irving S Gilmore Foundation
- Assets
- $291.5m
- Revenue
- $17.9m
- Investments
- $258.8m
- Employees
- 0
- Location
- Kalamazoo, MI
- Founding
- 03/1977
- Data as of
- 12/2022
- EIN
- 23-7236057
Organization Overview
Irving S Gilmore Foundation is located in Kalamazoo, MI. The organization was established in 1977. 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. Irving S Gilmore 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 12/2022, Irving S Gilmore Foundation generated $17.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $21.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Irving S Gilmore Foundation has awarded 18 individual grants totaling $43,586,235. 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 |
|---|---|---|---|
Fl Parks Chairman | 25 | $29,200 | |
Mg Coleman President | 5 | $30,000 | |
Jh Moore 1st VP | 5 | $29,300 | |
Cd Wattles Treasurer | 5 | $30,000 | |
Rm Beam Secretary | 5 | $30,000 | |
RN Kilgore Trustee | 5 | $30,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Burgundy Asset Management Ltd | 12/30/22 | $349,241 |
Sands Capital Management | 12/30/22 | $236,495 |
Riverbridge Partners Llc | 12/30/22 | $229,390 |
Lsv Asset Management | 12/30/22 | $195,751 |
Pzena Investment Management Llc | 12/30/22 | $204,919 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $104,331 |
| Dividends & Interest | $7,212,967 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $10,502,405 |
| Capital Gain Net Income | $10,502,405 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $38,882 |
| Total Revenue | $17,858,585 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $540,846 |
| Other employee salaries and wages | $265,998 |
| Pension plans, employee benefits | $220,390 |
| Interest | $0 |
| Taxes | $387,115 |
| Depreciation | $5,062 |
| Occupancy | $88,981 |
| Travel, conferences, and meetings | $11,901 |
| Printing and publications | $3,680 |
| Other expenses | $1,249,504 |
| Total operating and administrative expenses | $4,493,888 |
| Contributions, gifts, grants paid | $16,665,606 |
| Total expenses and disbursements | $21,159,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,570 |
| Savings and temporary cash investments | $31,665,329 |
| Net Accounts receivable | $338,416 |
| 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 | $48,869 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $83,551,419 |
| Net Land, buildings, and equipment | $24,066 |
| Other assets | $656,994 |
| Total assets | $291,511,560 |
| Accounts payable and accrued expenses | $382,253 |
| Grants payable | $376,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $668,762 |
| Total liabilities | $1,427,015 |
Grants Awarded
Over the last fiscal year, Irving S Gilmore Foundation has awarded $17,148,606 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
GRANTS MATCHING PURPOSE: GRANTS MATCHING | $42,440 |
GRANTS PAID PURPOSE: ARTS, CULTURE & HUMANITIES | $10,293,366 |
GRANTS PAID PURPOSE: COMMUNITY DEVELOPMENT | $1,832,500 |
GRANTS PAID PURPOSE: EDUCATION | $195,000 |
GRANTS PAID PURPOSE: HEALTH & WELL-BEING | $752,000 |
GRANTS PAID PURPOSE: HUMAN SERVICES | $4,033,300 |