Formanek Foundation
- Assets
- $152.1m
- Revenue
- $114.8m
- Investments
- $121.4m
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 02/2008
- Data as of
- 12/2021
- EIN
- 26-1565007
Organization Overview
Formanek Foundation is located in Memphis, TN. The organization was established in 2008. 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. Formanek 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, Formanek Foundation generated $114.8m in total revenue. All expenses for the organization totaled $4.5m during the year ending 12/2021. While expenses have increased by 37.9% 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, Formanek Foundation has awarded 59 individual grants totaling $5,370,078. 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter W Rotchild President/director | 0 | $0 | |
Mike Howard Secretary-Treasurer/direct | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $106,624,623 |
| Interest on Savings | $590 |
| Dividends & Interest | $952,330 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,220,534 |
| Capital Gain Net Income | $3,220,534 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,033,703 |
| Total Revenue | $114,831,780 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $80,769 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $32,245 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,757,962 |
| Total operating and administrative expenses | $1,895,976 |
| Contributions, gifts, grants paid | $2,647,054 |
| Total expenses and disbursements | $4,543,030 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,713,691 |
| 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 | $121,389,094 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $152,103,072 |
| 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, Formanek Foundation has awarded $2,647,054 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
Nashville, TN PURPOSE: TO PROMOTE PUBLIC EDUCATION AND ACADEMIC PROGRESS FOR TENNESSEE STUDENTS FROM KINDERGARTEN THROUGH CAREER | $1,123,289 |
RIVERFRONT DEVELOPMENT PURPOSE: TO PROMOTE THE TRANSFORMATIVE POWER OF THE MISSISSIPPI BY SUPPORTING PUBLIC EVENTS ON THE RIVER. | $600,000 |
MUSO PURPOSE: TO PROMOTE EFFORT TO ELIMINATE PREVENTABLE DEATHS ROOTED IN POVERTY | $200,000 |
EARTH ENABLE PURPOSE: TO INSTALL EARTHERN SEALED FLOORS OVER DIRT FLOORS OF PERSONS LIVING IN PROVERTY IN ORDER TO PROMOTE THE HEALTH AND IMPROVE LIVING CONDITIONS. | $175,300 |
Germantown, TN PURPOSE: TO SUPPORT AND PROMOTE THE ARTS IN THE MID-SOUTH | $75,000 |
INTEGRATED HEALTH PURPOSE: TO HELP REMOVE CHILDREN'S HEALTH BARRIERS TO LEARNING | $75,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Formanek Foundation has recieved totaling $575,000.
| Awarding Organization | Amount |
|---|---|
Jonathan P Formanek Foundation Memphis, TN PURPOSE: TO SUPPORT A VARIETY OF RELIGIOUS, ART, JUSTICE, AND OTHER CULTURAL PROGRAMS | $575,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Penner Family Foundation Bentonville, AR | $146,107,822 | $15,983,833 |
J R Hyde Iii Foundation Memphis, TN | $230,354,058 | $26,306,779 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
C Kenneth And Dianne Wright Foundation Henrico, VA | $254,775 | $2,124,209 |
First Horizon Foundation Memphis, TN | $37,840,936 | $11,265,846 |
Families And Communities Rising Inc Durham, NC | $8,732,109 | $17,644,457 |
Charles A Cannon Charitable Trust N0 One Concord, NC | $132,429,020 | $9,552,538 |
Claude And Betty Harris Foundation Inc Louisville, KY | $58,528,117 | $25,952,323 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |