George Gund Foundation
- Assets
- $464.7m
- Revenue
- $60.4m
- Investments
- $451.2m
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 06/1953
- Data as of
- 12/2019
- 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.
For the year ending 12/2019, George Gund Foundation generated $60.4m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $37.8m during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, George Gund Foundation has awarded 1,310 individual grants totaling $138,184,811. 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 |
|---|---|---|---|
David T Abbott President | 40 | $351,653 | |
Robert Jaquay Associate Director | 40 | $197,738 | |
Marcia Egbert Program Director | 40 | $160,873 | |
Ann Mullin Program Director | 40 | $156,528 | |
Jennifer Coleman Program Director | 40 | $147,973 | |
John Mitterholzer Program Director | 40 | $133,980 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goldman Sachs & Co | 12/30/19 | $3,061,178 |
Keybank National Association | 12/30/19 | $91,713 |
Koya Leadership Partners | 12/30/19 | $57,140 |
Nesnadny & Schwartz | 12/30/19 | $239,865 |
Rea & Associates Inc | 12/30/19 | $212,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $12,533,839 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $47,457,715 |
| Capital Gain Net Income | $47,362,854 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $447,592 |
| Total Revenue | $60,439,146 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $351,653 |
| Other employee salaries and wages | $1,151,398 |
| Pension plans, employee benefits | $624,792 |
| Interest | $1,667 |
| Taxes | $1,560,524 |
| Depreciation | $38,721 |
| Occupancy | $156,271 |
| Travel, conferences, and meetings | $191,913 |
| Printing and publications | $207,202 |
| Other expenses | $224,659 |
| Total operating and administrative expenses | $10,643,539 |
| Contributions, gifts, grants paid | $27,111,239 |
| Total expenses and disbursements | $37,754,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $522,073 |
| Savings and temporary cash investments | $6,533,963 |
| 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 | $2,459 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $84,211,618 |
| Net Land, buildings, and equipment | $86,088 |
| Other assets | $6,349,899 |
| Total assets | $464,657,090 |
| 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 | $14,253 |
| Total liabilities | $14,253 |
Grants Awarded
Over the last fiscal year, George Gund Foundation has awarded $48,068,327 in support to 437 organizations.
| Grant Recipient | Amount |
|---|---|
Cleveland, OH PURPOSE: SAY YES TO EDUCATION CLEVELAND SCHOLARSHIP FUND. | $2,000,000 |
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: SAY YES TO EDUCATION CLEVELAND SCHOLARSHIP FUND. | $2,000,000 |
Cleveland, OH PURPOSE: SAY YES TO EDUCATION CLEVELAND SCHOLARSHIP FUND. | $1,500,000 |
Cleveland, OH PURPOSE: SAY YES TO EDUCATION CLEVELAND SCHOLARSHIP FUND. | $1,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lumina Foundation For Education Inc Indianapolis, IN | $1,274,092,392 | $124,890,321 |
John J & Mary R Schiff Foundation Cincinnati, OH | $180,733,511 | $18,837,638 |
Ford Motor Co Fund Dearborn, MI | $0 | $2,192,979 |
George Gund Foundation Cleveland, OH | $464,657,090 | $60,439,146 |
Dietrich Foundation Pittsburgh, PA | $1,082,174,638 | $76,422,895 |
American Electric Power Foundation Columbus, OH | $110,474,087 | $55,374,056 |
Strivetogether Inc Cincinnati, OH | $8,381,463 | $30,982,246 |
The Samuel And Jean Frankel Jewish Heritage Foundation Troy, MI | $179,152,893 | $11,860,034 |
Ag Foundation East Liverpool, OH | $95,000,251 | $2,221,037 |
The American Electric Power System Retiree Medical Benefit Trust For Pittsburgh, PA | $543,271,915 | $36,843,160 |
P H P Inc Hopkinsville, KY | $1,496,354 | $24,438,058 |
The Powder Mill Foundation York, PA | $152,572,240 | $118,489,995 |