George Gund Foundation
- Assets
- $524.9m
- Revenue
- $120.9m
- Investments
- $505.5m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 06/1953
- Data as of
- 12/2021
- 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 12/2021, George Gund Foundation generated $120.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $72.5m during the year ending 12/2021. While expenses have increased by 12.7% per year over the past 6 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 2017, George Gund Foundation has awarded 2,183 individual grants totaling $269,397,018. 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 |
|---|---|---|---|
David T Abbott President | 40 | $388,458 | |
Ann Mullin Executive Vice Presi | 40 | $196,498 | |
Marcia Egbert Program Director | 40 | $177,273 | |
Alesha Washington Program Director | 40 | $164,781 | |
Jennifer Coleman Program Director | 40 | $160,704 | |
John Mitterholzer Program Director | 40 | $154,728 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rea & Associates Inc | 12/30/21 | $212,700 |
M Fine Consulting Llc | 12/30/21 | $106,664 |
Isaacson Miller Inc | 12/30/21 | $123,291 |
Goldman Sachs & Co | 12/30/21 | $3,910,692 |
Keybank National Association | 12/30/21 | $112,828 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,078 |
| Dividends & Interest | $10,205,295 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $110,541,915 |
| Capital Gain Net Income | $110,405,291 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $172,848 |
| Total Revenue | $120,923,136 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $388,458 |
| Other employee salaries and wages | $1,308,436 |
| Pension plans, employee benefits | $723,762 |
| Interest | $49,294 |
| Taxes | $1,886,709 |
| Depreciation | $32,404 |
| Occupancy | $169,830 |
| Travel, conferences, and meetings | $51,010 |
| Printing and publications | $79,715 |
| Other expenses | $325,413 |
| Total operating and administrative expenses | $12,392,649 |
| Contributions, gifts, grants paid | $60,061,152 |
| Total expenses and disbursements | $72,453,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,086,052 |
| Savings and temporary cash investments | $9,780,819 |
| 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 | $7,386,943 |
| Net Land, buildings, and equipment | $94,417 |
| Other assets | $8,471,562 |
| Total assets | $524,945,754 |
| 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 | $12,879 |
| Total liabilities | $12,879 |
Grants Awarded
Over the last fiscal year, George Gund Foundation has awarded $70,348,127 in support to 429 organizations.
| Grant Recipient | Amount |
|---|---|
Cleveland, OH PURPOSE: IRISHTOWN BEND. | $3,000,000 |
Cleveland, OH PURPOSE: LIVING LEARNING COMMUNITY AT CLEVELAND STATE UNIVERSITY. | $2,500,000 |
Cleveland, OH PURPOSE: LIVING LEARNING COMMUNITY AT CLEVELAND STATE UNIVERSITY. | $2,500,000 |
FOUNDATION FIGHTING BLINDNESS INC PURPOSE: RETINAL DEGENERATIVE DISEASE RESEARCH. | $2,000,000 |
Cleveland, OH PURPOSE: SAY YES TO EDUCATION CLEVELAND SCHOLARSHIP FUND. | $2,000,000 |
Cleveland, OH PURPOSE: ROCK HALL EXPANSION. | $2,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that George Gund Foundation has recieved totaling $2,398,335.
| Awarding Organization | Amount |
|---|---|
Matthew 25 Ministries Inc Cincinnati, OH PURPOSE: Humanitarian Aid | $2,398,335 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
William Penn Foundation Philadelphia, PA | $0 | $175,834,650 |
The Heinz Endowments Pittsburgh, PA | $0 | $54,378,087 |
George Gund Foundation Cleveland, OH | $524,945,754 | $120,923,136 |
Oberkotter Foundation Philadelphia, PA | $83,021,123 | $23,009,013 |
Lumina Foundation For Education Inc Indianapolis, IN | $0 | $124,727,424 |
Pnc Foundation Pittsburgh, PA | $218,373,148 | $3,451,991 |
Sarah Scaife Foundation Inc Pittsburgh, PA | $645,014,499 | $79,121,296 |
J Howard Pew Freedom Tr Philadelphia, PA | $675,828,558 | $64,346,772 |
Mccune Foundation Pittsburgh, PA | $180,488,577 | $38,182,239 |
The Meijer Foundation Grand Rapids, MI | $118,103,895 | $43,970,388 |
Nationwide Foundation Columbus, OH | $86,187,581 | $42,470,606 |
Dietrich Foundation Pittsburgh, PA | $1,425,693,584 | $93,476,192 |