S K Wellman Foundation
- Assets
- $3.6m
- Revenue
- $409.7k
- Investments
- $3.5m
- Employees
- 0
- Location
- Independence, OH
- Founding
- 02/1954
- Data as of
- 12/2022
- EIN
- 34-6520032
Organization Overview
S K Wellman Foundation is located in Independence, OH. The organization was established in 1954. 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. S K Wellman 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, S K Wellman Foundation generated $409.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $356.3k during the year ending 12/2022. While expenses have increased by 0.7% 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 2016, S K Wellman Foundation has awarded 463 individual grants totaling $1,182,150. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S CHARITABLE ACTIVITY IS TO PROVIDE GRANTS TO QUALIFIED CHARITABLE ORGANIZATIONS. DURING 2022 THE FOUNDATION MADE GRANTS TO 83 ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Zeiders Trustee | 0.5 | $2,000 | |
Joshua K Pryor Trustee | 0.5 | $2,000 | |
Suzanne W Erikson Trustee | 0.5 | $2,000 | |
Laurence A Bartell Trustee | 0.5 | $36,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $122,994 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $282,550 |
| Capital Gain Net Income | $282,550 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,178 |
| Total Revenue | $409,722 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $42,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12,309 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $124,651 |
| Contributions, gifts, grants paid | $231,650 |
| Total expenses and disbursements | $356,301 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $87,721 |
| 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 | $0 |
| Total assets | $3,564,040 |
| 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, S K Wellman Foundation has awarded $231,650 in support to 83 organizations.
| Grant Recipient | Amount |
|---|---|
ACHIEVEMENT CENTERS FOR CHILDREN PURPOSE: EDUCATIONAL SERVICES TO NEEDY CHILDREN | $2,000 |
ADAPTIVE SPORTS OHIO PURPOSE: ADAPTIVE SPORTS FOR DISABLED YOUTH | $2,500 |
ADOPTION NETWORK PURPOSE: SUPPORT FOR FAMILIES IMPACTED BY ADOPTION | $2,000 |
BELIEVE IN DREAMS PURPOSE: COMMUNITY OUTREACH | $1,000 |
AMERICAN RED CROSS PURPOSE: DISASTER AID TO NEEDY | $3,000 |
BELLEFAIRE PURPOSE: AID TO NEEEY | $5,000 |