George Gund Foundation
- Assets
- $502.4m
- Revenue
- $21.2m
- Investments
- $480.5m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 06/1953
- Data as of
- 12/2022
- EIN
- 34-6519769
Organization Overview
George Gund Foundation is located in Cleveland, OH. The organization was established in 1953. 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. George Gund 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, George Gund Foundation generated $21.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.9%) each year. All expenses for the organization totaled $51.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, George Gund Foundation has awarded 2,617 individual grants totaling $319,964,143. 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 |
|---|---|---|---|
Anthony Richardson President | 40 | $311,818 | |
Nancy Mendez Vice Chair, Trustee | 2 | $6,000 | |
Zachary Gund Treasurer, Trustee | 2 | $0 | |
Catherine Gund Chair, Trustee | 2 | $0 | |
Anna Traggio Trustee | 2 | $0 | |
Margaret Bernstein Trustee | 2 | $6,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sachs & Co | 12/30/22 | $4,113,372 |
Rea & Associates Inc | 12/30/22 | $227,500 |
Dancing Heart Consulting | 12/30/22 | $130,000 |
Koya Leadership Partners | 12/30/22 | $91,756 |
Keybank National Association | 12/30/22 | $89,608 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $109,283 |
| Dividends & Interest | $8,204,499 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $12,623,095 |
| Capital Gain Net Income | $12,623,095 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $273,171 |
| Total Revenue | $21,210,048 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $311,818 |
| Other employee salaries and wages | $1,181,786 |
| Pension plans, employee benefits | $613,142 |
| Interest | $28,136 |
| Taxes | $908,502 |
| Depreciation | $34,492 |
| Occupancy | $169,902 |
| Travel, conferences, and meetings | $112,616 |
| Printing and publications | $79,613 |
| Other expenses | $231,491 |
| Total operating and administrative expenses | $10,482,948 |
| Contributions, gifts, grants paid | $40,703,025 |
| Total expenses and disbursements | $51,185,973 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,079,960 |
| Savings and temporary cash investments | $11,937,556 |
| 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 | $5,927,360 |
| Net Land, buildings, and equipment | $82,475 |
| Other assets | $8,749,987 |
| Total assets | $502,367,168 |
| 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 | $7,372,888 |
| Other liabilities | $2,983 |
| Total liabilities | $7,375,871 |
Grants Awarded
Over the last fiscal year, George Gund Foundation has awarded $50,567,125 in support to 434 organizations.
| Grant Recipient | Amount |
|---|---|
99 TREASURES ARTS & CULTURE PURPOSE: READING & ARTS EMPOWERS MINDS | $5,000 |
ACCESS HEALTH COLUMBUS PURPOSE: THE OHIO ALLIANCE | $10,000 |
ADOPTION NETWORK CLEVELAND PURPOSE: OPERATING SUPPORT | $125,000 |
ACHIEVEMENT CENTERS FOR CHILDREN PURPOSE: PUBLIC POLICY AND ADVOCACY | $50,000 |
ADVANTAGE CLEVELAND TENNIS AND EDUCATION INC PURPOSE: OPERATING SUPPORT | $10,000 |
ALASKA CONSERVATION FOUNDATION PURPOSE: OPERATING SUPPORT | $50,000 |