Plank Family Foundation
- Assets
- $9.0m
- Revenue
- $140.8k
- Investments
- $8.5m
- Employees
- 0
- Location
- Brooklandville, MD
- Founding
- 06/2008
- Data as of
- 12/2022
- EIN
- 26-1300940
Organization Overview
Plank Family Foundation is located in Brooklandville, MD. The organization was established in 2008. According to its NTEE Classification (T21) the organization is classified as: Corporate 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. Plank Family 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, Plank Family Foundation generated $140.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (53.6%) each year. All expenses for the organization totaled $667.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Plank Family Foundation has awarded 147 individual grants totaling $32,724,550. 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 |
|---|---|---|---|
Kevin A Plank President/treasurer | 1 | $0 | |
Desiree Jacqueline Plank Vice President | 1 | $0 | |
Thomas J Sippel Vice President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $28,179 |
| Dividends & Interest | $112,565 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $19 |
| Capital Gain Net Income | $19 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $140,763 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $2,929 |
| Contributions, gifts, grants paid | $665,000 |
| Total expenses and disbursements | $667,929 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,931 |
| Savings and temporary cash investments | $553,880 |
| 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 | $8,475,109 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $9,040,920 |
| 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, Plank Family Foundation has awarded $665,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
WESTLAKE YOUTH ATHLETIC ORGANIZATION INC PURPOSE: 2022 DONATION | $125,000 |
ALSACST JUDE PURPOSE: THE 14TH ANNUAL ST. JUDE TASTE OF OXFORD | $25,000 |
LINDSEY VONN FOUNDATION PURPOSE: 2022 DONATION | $15,000 |
BEST IS AHEAD FOUNDATION INC PURPOSE: 2022 DONATION | $125,000 |
WHIP FUNDRAISING PURPOSE: "THIS TOO SHALL PASS" SPONSORSHIP | $125,000 |
JOHNS HOPKINS UNIVERSITY PURPOSE: SCHOLAR SUPPORT FOR RHEUMATOLOGY | $250,000 |