Irving S Gilmore Foundation
- Assets
- $388.4m
- Revenue
- $41.2m
- Investments
- $365.1m
- Employees
- 0
- Location
- Kalamazoo, MI
- Founding
- 03/1977
- Data as of
- 12/2021
- 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 12/2021, Irving S Gilmore Foundation generated $41.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 17.2% each year . All expenses for the organization totaled $16.7m during the year ending 12/2021. While expenses have increased by 1.0% per year over the past 4 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, Irving S Gilmore Foundation has awarded 12 individual grants totaling $26,437,629. 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 |
|---|---|---|---|
Hughey Jr Rm Exec Vp/ceo | 40 | $216,836 | |
Duck Ce Vp-Admin | 40 | $130,594 | |
Snapp CR Vp-Program | 40 | $115,203 | |
Porter A Executive As | 40 | $65,456 | |
Drenth-Thurman F Grants Mgmt | 40 | $63,970 | |
Kilgore RN Trustee | 5 | $30,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pzena Investment Management Llc | 12/30/21 | $231,574 |
Lsv Asset Management | 12/30/21 | $228,529 |
Burgundy Asset Management Ltd | 12/30/21 | $383,381 |
Sands Capital Management | 12/30/21 | $320,526 |
Riverbridge Partners Llc | 12/30/21 | $323,154 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2,745 |
| Dividends & Interest | $10,832,548 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $30,352,922 |
| Capital Gain Net Income | $30,352,922 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$7,605 |
| Total Revenue | $41,180,610 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $641,133 |
| Other employee salaries and wages | $128,764 |
| Pension plans, employee benefits | $254,892 |
| Interest | $0 |
| Taxes | $544,539 |
| Depreciation | $5,078 |
| Occupancy | $70,929 |
| Travel, conferences, and meetings | $3,505 |
| Printing and publications | $3,342 |
| Other expenses | $73,780 |
| Total operating and administrative expenses | $3,729,420 |
| Contributions, gifts, grants paid | $12,959,645 |
| Total expenses and disbursements | $16,689,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,159 |
| Savings and temporary cash investments | $22,860,598 |
| Net Accounts receivable | $371,532 |
| 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 | $39,762 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $119,302,039 |
| Net Land, buildings, and equipment | $20,515 |
| Other assets | $0 |
| Total assets | $388,410,325 |
| Accounts payable and accrued expenses | $280,087 |
| Grants payable | $859,000 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $242,680 |
| Total liabilities | $1,381,767 |
Grants Awarded
Over the last fiscal year, Irving S Gilmore Foundation has awarded $13,383,126 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
GRANTS PAID PURPOSE: ARTS, CULTURE & HUMANITIES | $5,713,562 |
GRANTS PAID PURPOSE: HUMAN SERVICES | $3,552,374 |
GRANTS PAID PURPOSE: COMMUNITY DEVELOPMENT | $2,082,370 |
GRANTS PAID PURPOSE: HEALTH & WELL-BEING | $1,625,000 |
GRANTS PAID PURPOSE: EDUCATION | $370,000 |
GRANTS MATCHING PURPOSE: GRANTS MATCHING | $39,820 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Meijer Foundation Grand Rapids, MI | $118,103,895 | $43,970,388 |
Nationwide Foundation Columbus, OH | $86,187,581 | $42,470,606 |
Ford Motor Co Fund Dearborn, MI | $173,752,828 | $51,364,996 |
Farmer Family Foundation Cincinnati, OH | $165,004,074 | $63,392,827 |
American Electric Power Foundation Columbus, OH | $61,577,266 | $10,199,855 |
Anthem Foundation Inc Indianapolis, IN | $153,394,091 | $25,472,782 |
U S Bancorp Foundation Milwaukee, WI | $68,350,907 | $6,892,078 |
Dean & Barbara White Family Foundation Inc Merrillville, IN | $792,865,434 | $81,802,743 |
Wilson Sheehan Foundation Springfield, OH | $57,339,515 | $15,119,930 |
Bader Philanthropies Inc Milwaukee, WI | $26,809,232 | $30,829,351 |
The Cummins Foundation Inc Columbus, IN | $50,145,455 | $23,676,992 |
The Samuel And Jean Frankel Jewish Heritage Foundation Troy, MI | $178,134,480 | $24,091,324 |