Timken Foundation Of Canton
- Assets
- $33.0m
- Revenue
- $35.4m
- Investments
- $27.4m
- Employees
- 0
- Location
- Canton, OH
- Founding
- 01/1938
- Data as of
- 09/2022
- EIN
- 34-6520254
Organization Overview
Timken Foundation Of Canton is located in Canton, OH. The organization was established in 1938. 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. Timken Foundation Of Canton 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 09/2022, Timken Foundation Of Canton generated $35.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.5% each year . All expenses for the organization totaled $17.0m during the year ending 09/2022. While expenses have increased by 2.4% 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 2015, Timken Foundation Of Canton has awarded 899 individual grants totaling $134,032,623. 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 |
|---|---|---|---|
Mark A Scheffler Executive Director | 40 | $219,000 | |
Robert R Timken President/trustee | 10 | $91,517 | |
Ward J Timken Jr Trustee | 1 | $0 | |
Wr Timken Jr Trustee | 1 | $0 | |
Joy A Timken Trustee | 1 | $0 | |
Hh Kurt Timken Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $833,046 |
| Dividends & Interest | $5,822,729 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $28,430,763 |
| Capital Gain Net Income | $28,430,763 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $275,000 |
| Total Revenue | $35,361,538 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $334,481 |
| Other employee salaries and wages | $73,000 |
| Pension plans, employee benefits | $8,760 |
| Interest | $0 |
| Taxes | $116,229 |
| Depreciation | $1,903 |
| Occupancy | $30,169 |
| Travel, conferences, and meetings | $27,595 |
| Printing and publications | $0 |
| Other expenses | $110,063 |
| Total operating and administrative expenses | $945,721 |
| Contributions, gifts, grants paid | $16,022,651 |
| Total expenses and disbursements | $16,968,372 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,143,194 |
| Savings and temporary cash investments | $1,186,444 |
| 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 | $10,763 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,035,202 |
| Net Land, buildings, and equipment | $31,042 |
| Other assets | $218,413 |
| Total assets | $32,951,548 |
| Accounts payable and accrued expenses | $3,792 |
| 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 | $3,792 |
Grants Awarded
Over the last fiscal year, Timken Foundation Of Canton has awarded $16,022,651 in support to 96 organizations.
| Grant Recipient | Amount |
|---|---|
Canton, OH PURPOSE: ECONOMIC REDEVELOPMENT FUNDS | $2,000,000 |
San Diego, CA PURPOSE: MUSEUM EXPANSION PROJECT | $1,635,457 |
CLEVELAND CLINIC FOUNDATION PURPOSE: FOR SUPPORT OF THE AMD RESEARCH INITIATIVE | $1,556,178 |
Cleveland, OH PURPOSE: CAPITAL IMPROVEMENTS FOR SEVERANCE AND BLOSSOM MUSIC CENTER | $1,026,453 |
Massillon, OH PURPOSE: BOYS & GIRLS CLUB OF MASSILLON EXPANSION PROJECT | $1,000,000 |
Canton, OH PURPOSE: BUILDING EXPANSION PROJECT | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Ford Motor Co Fund Dearborn, MI | $173,752,828 | $51,364,996 |
Farmer Family Foundation Cincinnati, OH | $165,004,074 | $63,392,827 |
American Electric Power Foundation Columbus, OH | $61,577,266 | $10,199,855 |
Anthem Foundation Inc Indianapolis, IN | $153,394,091 | $25,472,782 |
Wyncote Foundation Philadelphia, PA | $612,779,360 | $16,336,575 |
Dean & Barbara White Family Foundation Inc Merrillville, IN | $792,865,434 | $81,802,743 |
Wilson Sheehan Foundation Springfield, OH | $57,339,515 | $15,119,930 |