Portland Foundation Inc
- Assets
- $23.1m
- Revenue
- $2.9m
- Investments
- $23.1m
- Employees
- 6
- Location
- Portland, IN
- Founding
- 08/1997
- Data as of
- 12/2021
- EIN
- 35-2019497
Organization Overview
Portland Foundation Inc is located in Portland, IN. The organization was established in 1997. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Portland Foundation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Portland Foundation Inc 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, Portland Foundation Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $950.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Portland Foundation Inc has awarded 70 individual grants totaling $1,943,471. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE THE QUALITY OF LIFE FOR THE PEOPLE OF JAY COUNTY, INDIANA, NOW AND FOR GENERATIONS TO COME, BY BUILDING COMMUNITY ENDOWMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PORTLAND FOUNDATION ADMINISTERS APPROXIMATELY 100 SEPARATE SCHOLARSHIP TRUSTS ESTABLISHED FOR THE PROVISION OF STUDENT SCHOLARSHIPS IN AND AROUND JAY COUNTY INDIANA. THE FOUNDATION ENSURES SPECIFIC GUIDELINES ESTABLISHED BY EACH SCHOLARSHIP TRUST ARE FOLLOWED IN AWARDING SCHOLARSHIPS TO BETTER THE COMMUNITY. ENHANCE THE QUALITY OF LIFE FOR THE PEOPLE OF JAY COUNTY, INDIANA, NOW AND FOR GENERATIONS TO COME, BY BUILDING COMMUNITY ENDOWMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas L Inman Executive Direc | Officer | 40 | $57,461 |
Rex Journay Immediate Past President | Officer | 1 | $0 |
Tammy Hanlin President | Officer | 1 | $0 |
Jeremy Gulley Vice President | Officer | 1 | $0 |
Rob Penrod Secretary/treasurer | Officer | 1 | $0 |
Kaleb Hemmelgarn Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,369,468 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,369,468 |
| Total Program Service Revenue | $0 |
| Investment income | $515,723 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,885,191 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $554,928 |
| Grants and other assistance to domestic individuals. | $146,122 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $57,461 |
| Compensation of current officers, directors, key employees. | $28,731 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,568 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,233 |
| Payroll taxes | $6,699 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,808 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,481 |
| Fees for services: Other | $75,962 |
| Advertising and promotion | $2,945 |
| Office expenses | $3,713 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,601 |
| Travel | $427 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $939 |
| All other expenses | $4,702 |
| Total functional expenses | $950,460 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$1 |
| Savings and temporary cash investments | $38,046 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $23,079,029 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,117,074 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | -$173,276 |
| Net assets with donor restrictions | $23,290,350 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,117,074 |
Grants Awarded
Over the last fiscal year, Portland Foundation Inc has awarded $208,884 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
JAY COMMUNITY CENTER PURPOSE: ENHANCE THE QUALITY OF LIFE FOR THE PEOPLE OF JAY COUNTY, INDIANA, NOW AND FOR GENERATIONS TO COME, BY BUILDING COMMUNITY ENDOWMENT | $48,153 |
ASBURY UNITED METHODIST CHURCH PURPOSE: ENHANCE THE QUALITY OF LIFE FOR THE PEOPLE OF JAY COUNTY, INDIANA, NOW AND FOR GENERATIONS TO COME, BY BUILDING COMMUNITY ENDOWMENT | $41,430 |
A BETTER LIFE - BRIANNA'S HOPE PURPOSE: ENHANCE THE QUALITY OF LIFE FOR THE PEOPLE OF JAY COUNTY, INDIANA, NOW AND FOR GENERATIONS TO COME, BY BUILDING COMMUNITY ENDOWMENT | $30,000 |
Portland, IN PURPOSE: ENHANCE THE QUALITY OF LIFE FOR THE PEOPLE OF JAY COUNTY, INDIANA, NOW AND FOR GENERATIONS TO COME, BY BUILDING COMMUNITY ENDOWMENT | $26,950 |
Dunkirk, IN PURPOSE: ENHANCE THE QUALITY OF LIFE FOR THE PEOPLE OF JAY COUNTY, INDIANA, NOW AND FOR GENERATIONS TO COME, BY BUILDING COMMUNITY ENDOWMENT | $13,377 |
Portland, IN PURPOSE: ENHANCE THE QUALITY OF LIFE FOR THE PEOPLE OF JAY COUNTY, INDIANA, NOW AND FOR GENERATIONS TO COME, BY BUILDING COMMUNITY ENDOWMENT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Portland Foundation Inc has recieved totaling $109,145.
| Awarding Organization | Amount |
|---|---|
Raymond James Charitable Endowment Fund St Petersberg, FL PURPOSE: GENERAL SUPPORT | $109,145 |
Endowment Analysis
| Beg. Balance | $18,430,189 |
| Earnings | $3,100,522 |
| Admin Expense | $120,100 |
| Net Contributions | $2,369,468 |
| Grants | $701,050 |
| Ending Balance | $23,079,029 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Schuler Education Foundation Lake Forest, IL | $54,673,241 | $7,067,242 |
Thedacare Family Of Foundations Inc Appleton, WI | $89,256,611 | $25,439,996 |
Veterans United Foundation Columbia, MO | $54,107,159 | $30,165,811 |
University Of Louisville Real Estate Foundation Louisville, KY | $156,388,720 | $20,770,834 |
Stifel Charitable Inc St Louis, MO | $132,307,100 | $94,589,551 |
Moose Charities Inc Mooseheart, IL | $5,385,966 | $15,548,845 |
Franciscan Sisters Of Chicago Service Corporation Lemont, IL | $62,771,138 | $13,923,865 |
Vela Education Fund Glencoe, IL | $4,855,969 | $13,247,569 |
Porter County Government Charitable Nonprofit Foundation Inc Valparaiso, IN | $195,277,590 | $7,720,193 |
Coxhealth Foundation Springfield, MO | $33,244,463 | $11,374,415 |
Bass Pro Shops & Cabelas Outdoor Fund Springfield, MO | $14,575,213 | $9,618,697 |
Community Foundation For The Land Of Lincoln Inc Springfield, IL | $62,800,465 | $16,636,147 |