Formanek Foundation
- Assets
- $144.4m
- Revenue
- $12.0m
- Investments
- $137.3m
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 02/2008
- Data as of
- 12/2023
- 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 12/2023, Formanek Foundation generated $12.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $10.7m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Formanek Foundation has awarded 102 individual grants totaling $20,488,993. 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/exec Comm | 5 | $0 | |
J Michael Howard II Sec-Treasurer/director/exec Comm | 10 | $0 | |
Jonathan Spitzer Director/executive Committee | 2 | $0 | |
Mary Lee Copp Director | 1 | $0 | |
Ryan Carroll Director | 1 | $0 | |
Robin L Formanek Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $31,203 |
| Dividends & Interest | $3,397,061 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,613,921 |
| Capital Gain Net Income | $5,613,921 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,980,989 |
| Total Revenue | $12,023,174 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $200,000 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $351,172 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $26,096 |
| Printing and publications | $0 |
| Other expenses | $2,655,918 |
| Total operating and administrative expenses | $3,258,186 |
| Contributions, gifts, grants paid | $7,434,674 |
| Total expenses and disbursements | $10,692,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,091,459 |
| 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 | $137,259,655 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $144,351,130 |
| 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 $7,434,674 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
ALLIANCE FOUNDATION PURPOSE: TO SUPPORT THE EFFORTS OF ALLIANCE HEALTHCARE SERVICES IN SERVING THE MENTAL HEALTH CARE NEEDS OF THE MEMPHIS COMMUNITY | $1,000,000 |
ASPETUCK LAND TRUST PURPOSE: TO SUPPORT THE ENVIRONMENTAL ACTIVITIES OF THE LAND TRUST IN SAVING AND MAINTAINING LAND AND PLANT NATIVES | $281,825 |
DOCTORS WITHOUT BORDERS PURPOSE: TO PROMOTE THE PROVISION OF MEDICAL SERVICES TO PEOPLE IN CRISIS | $50,000 |
KCDC (KYANINGA CHILD DEVELOPMENT CENTRE) PURPOSE: TO SUPPORT THE EFFORTS TO PROVIDE MEDICAL, THERAPEUTIC, EDUCATIONAL AND SOCIAL SERVICES IN WESTERN UGANDA | $299,906 |
LE BONHEUR CHILDREN'S HOSPITAL PURPOSE: TO SUPPORT THE WORK OF THE HOSPITAL IN THE SERVICES PROVIDED CHILDREN, ITS RESEARCH IN PEDIATRIC MEDICINE, AND TRAINING PHYSICIANS | $133,387 |
ST FRANCIS UGANDA PURPOSE: TO CREATE ECONOMIC OPPORTUNITIES AMONG ADOLESCENT GIRLS AND YOUNG WOMEN IN FOUR (4) DISTRICTS IN CENTRAL AND EASTERN UGANDA | $86,240 |