Clowes Fund Incorporated
- Assets
- $60.5m
- Revenue
- $7.8m
- Investments
- $59.7m
- Employees
- 0
- Location
- Indianapolis, IN
- Founding
- 09/1954
- Data as of
- 12/2021
- EIN
- 35-1079679
Organization Overview
Clowes Fund Incorporated is located in Indianapolis, IN. 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. Clowes Fund Incorporated 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, Clowes Fund Incorporated generated $7.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.8% each year . All expenses for the organization totaled $4.9m during the year ending 12/2021. While expenses have increased by 1.5% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Briggs Reilly Executive Director (beg 07/21) | 40 | $125,000 | |
Erin Trisler Second Assistant Treasurer | 40 | $95,000 | |
Elizabeth Casselman Executive Director (end 06/21) | 40 | $71,000 | |
Ben Blanton Director | 2 | $0 | |
Aidan Clowes Director | 2 | $0 | |
Veronica Serrato First Assistant Treasurer | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bkd Llp | 12/30/21 | $59,401 |
Marquette Associates | 12/30/21 | $85,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $148 |
| Dividends & Interest | $1,628,952 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,186,240 |
| Capital Gain Net Income | $6,186,240 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,206 |
| Total Revenue | $7,823,546 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $291,000 |
| Other employee salaries and wages | $72,989 |
| Pension plans, employee benefits | $141,167 |
| Interest | $0 |
| Taxes | $155,214 |
| Depreciation | $0 |
| Occupancy | $35,366 |
| Travel, conferences, and meetings | $8,101 |
| Printing and publications | $33 |
| Other expenses | $47,767 |
| Total operating and administrative expenses | $1,095,873 |
| Contributions, gifts, grants paid | $3,777,050 |
| Total expenses and disbursements | $4,872,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $398,009 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $1,372 |
| 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 | $59,723,252 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $405,500 |
| Total assets | $60,528,133 |
| Accounts payable and accrued expenses | $10,215 |
| 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 | $10,215 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Roger And Susan Stone Family Foundation Northbrook, IL | $23,476,805 | $8,385,528 |
Galashiels Fund Ltd Northbrook, IL | $154,593,436 | $48,314,988 |