Garatoni-Smith Family Foundation
- Assets
- $46.5m
- Revenue
- $581.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Mishawaka, IN
- Founding
- 11/2008
- Data as of
- 12/2021
- EIN
- 26-2866592
Organization Overview
Garatoni-Smith Family Foundation is located in Mishawaka, IN. 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. Garatoni-Smith 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 12/2021, Garatoni-Smith Family Foundation generated $581.0k 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 (22.4%) each year. All expenses for the organization totaled $4.0m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Garatoni-Smith Family Foundation has awarded 282 individual grants totaling $21,791,573. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION MAKES COTRIBUTIONS TO OTHER TAX EXEMPT 501(C)(3) PUBLIC CHARITIES ONLY. PLEASE SEE PART XV.
THE FOUNDATION MAKES COTRIBUTIONS TO OTHER TAX EXEMPT 501(C)(3) PUBLIC CHARITIES ONLY. PLEASE SEE PART XV.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence H Garatoni Trustee | 2 | $0 | |
Judith A Garatoni Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $281,501 |
| Dividends & Interest | $111,255 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $182,443 |
| Capital Gain Net Income | $182,443 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,836 |
| Total Revenue | $581,035 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $2,372 |
| Taxes | $12,301 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $11,247 |
| Total operating and administrative expenses | $102,381 |
| Contributions, gifts, grants paid | $3,888,348 |
| Total expenses and disbursements | $3,990,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $46,534,810 |
| Total assets | $46,534,810 |
| Accounts payable and accrued expenses | $1,525,353 |
| 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 | $537,824 |
| Total liabilities | $2,063,177 |
Grants Awarded
Over the last fiscal year, Garatoni-Smith Family Foundation has awarded $7,776,696 in support to 64 organizations.
| Grant Recipient | Amount |
|---|---|
AFGAN FAMILIES PURPOSE: GENERAL GIFT | $1,700,000 |
IVY TECH PURPOSE: GENERAL GIFT | $1,700,000 |
IVY TECH FDN PURPOSE: GENERAL CHARITABLE GIFT | $386,000 |
IVY TECH FDN PURPOSE: GENERAL CHARITABLE GIFT | $386,000 |
MARIAN HIGH SCHOOL PURPOSE: GENERAL GIFT | $250,000 |
CULTIVATE CULINARY PURPOSE: GENERAL CHARITABLE GIFT | $250,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Roger And Susan Stone Family Foundation Northbrook, IL | $23,476,805 | $8,385,528 |
Galashiels Fund Ltd Northbrook, IL | $154,593,436 | $48,314,988 |