Golay Foundation Inc
- Assets
- $4.4m
- Revenue
- $296.5k
- Investments
- $4.2m
- Employees
- 0
- Location
- Carmel, IN
- Founding
- 07/1978
- Data as of
- 12/2021
- EIN
- 31-0929865
Organization Overview
Golay Foundation Inc is located in Carmel, IN. The organization was established in 1978. 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. Golay Foundation Inc 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, Golay Foundation Inc generated $296.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $317.3k during the year ending 12/2021. While expenses have increased by 7.6% per year over the past 7 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 2015, Golay Foundation Inc has awarded 35 individual grants totaling $1,415,000. 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
ALLOCATION OF ACCOUNTING AND OTHER PROFESSIONAL EXPENSE ON AN ESTIMATED TIME BASIS OF 55%
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Jarosinski President/secretary/treasu | 5 | $15,000 | |
Betty Crim Vice-President | 1 | $0 | |
Jennifer Robinson Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $150,653 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $145,879 |
| Capital Gain Net Income | $145,879 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $296,532 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $15,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,225 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,659 |
| Total operating and administrative expenses | $59,754 |
| Contributions, gifts, grants paid | $257,500 |
| Total expenses and disbursements | $317,254 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $230,629 |
| 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 | $32,669 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,448,721 |
| 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, Golay Foundation Inc has awarded $257,500 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Cambridge City, IN PURPOSE: CASH FOR OPERATIONS | $235,000 |
THE AMERICAN RED CROSS PURPOSE: CASH FOR OPERATIONS | $6,000 |
COMMUNITIES IN SCHOOLS INDIANA PURPOSE: CASH FOR OPERATIONS | $5,000 |
HOPE HOUSE PURPOSE: CASH FOR OPERATIONS | $5,000 |
RIVERSIDE CEMETERY PURPOSE: CASH FOR OPERATIONS | $2,500 |
CYSTIC FIBROSIS FOUNDATION PURPOSE: CASH FOR OPERATIONS | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lumina Foundation For Education Inc Indianapolis, IN | $0 | $124,727,424 |
Fulk Family Foundation Inc Chicago, IL | $111,507,856 | $5,187,231 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
Grainger Foundation Inc Lake Forest, IL | $184,158,239 | $17,016,007 |
Crawford Taylor Foundation St Louis, MO | $738,101,888 | $69,635,068 |
Zell Family Foundation Chicago, IL | $0 | $76,843,080 |
Enterprise Holdings Foundation Saint Louis, MO | $398,583,830 | $68,157,541 |
Abbvie Foundation North Chicago, IL | $72,211,109 | $4,010,058 |
Hall Family Foundation Kansas City, MO | $1,171,646,854 | $87,869,006 |
Caterpillar Foundation Peoria, IL | $93,606,659 | $54,411,827 |
Circle Of Service Foundation Chicago, IL | $697,372,085 | $55,153,209 |
Allstate Foundation Northbrook, IL | $112,475,932 | $31,277,614 |