Charley Creek Foundation Inc
- Assets
- $33.1m
- Revenue
- $2.2m
- Investments
- $23.1m
- Employees
- 0
- Location
- Wabash, IN
- Founding
- 09/2002
- Data as of
- 12/2021
- EIN
- 35-2132203
Organization Overview
Charley Creek Foundation Inc is located in Wabash, IN. The organization was established in 2002. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Charley Creek 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, Charley Creek Foundation Inc generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (40.8%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (43.6%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION'S ARTICLES OF INCORPORATION PROVIDE THAT THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR EDUCATIONAL, CHARITABLE, AND SCIENTIFIC PURPOSES, WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE, AS A SECTION 509(A)(3) TYPE I SUPPORTING ORGANIZATION PERFORMING THE FUNCTIONS OR CARRYING OUT THE PURPOSES OF THE HONEYWELL FOUNDATION, INC., EACH OF WHICH IS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE CODE & SECTION 170(B)(1)(A)(VI) OF THE CODE. THE HONEYWELL FOUNDATION, INC. IS THE LEADING WABASH, INDIANA-BASED COMMUNITY ENRICHMENT ORGANIZATION WHICH OPERATES PUBLIC PARKS, EVENT SPACES, & ART EXHIBITIONS IN WABASH, INDIANA.
EXCLUSIVELY IN FURTHERANCE OF THE PURPOSES DESCRIBED ABOVE, THE CORPORATION MAY OWN, HOLD, OPERATE (INCLUDING OFFERING TOURS TO THE GENERAL PUBLIC AND MAINTAIN A HISTORIC PROPERTY IN WABASH, INDIANA AND ASSOCIATED TANGIBLE PROPERTY) PROPERTY. IT MAY ALSO ENCOURAGE THE DEVELOPMENT OF TALENTED ARTISTS AND AUTHORS BY OFFERING INSTRUCTION, SCHOLARSHIPS AND FELLOWSHIPS TO SELECTED INDIVIDUALS, SPECIFICALLY INCLUDING BUT NOT LIMITED TO, SPONSORING A MASTER ARTISTS IN RESIDENCE PROGRAM AT ANY PROPERTY OWNED BY THE CORPORATION.THE CORPORATION MAY (I) OWN, HOLD, OPERATE (INCLUDING OFFERING TOURS TO THE GENERAL PUBLIC AND MAINTAIN HISTORIC PROPERTY IN WABASH, INDIANA AND ASSOCIATED TANGIBLE PROPERTY); AND (II) ENCOURAGE THE DEVELOPMENT OF TALENTED ARTISTS AND AUTHORS BY OFFERING INSTRUCTION, SCHOLARSHIPS AND FELLOWSHIPS TO SELECTED INDIVIDUALS, SPECIFICALLYINCLUDING BUT NOT LIMITED TO, SPONSORING A MASTER ARTISTS IN RESIDENCE PROGRAM AT ANY PROPERTY OWNED BY THE CORPORATION.
DURING THE 2020 TAX YEAR, THE CORPORATION OPERATED SOLELY IN FUTHERANCE OF THE ABOVE PURPOSES BY CARRYING ON ACTIVITIES FOR THE BENEFIT OF, PERFORMING THE FUNCTIONS OF, AND/OR CARRYING OUT THE PURPOSES OF THE SUPPORTED ORGANIZATIONS. THE CORPORATION'S DIRECT CHARITABLE ACTIVITIES FOR THE 2020 TAX YEAR INCLUDED (1) MAKING THREE GRANTS TO ITS SUPPORTED ORGANIZATIONS, WHICH ARE SHOWN ON PART XV, FORM 990-PF AND (2) OWNING, RESTORING, PRESERVING, OPERATING, AND MAKING AVAILABLE FOR PUBLIC USE AND DISPLAY THE CHARLEY CREEK INN, WHICH IS A HISTORIC AND ARCHITECTURALLY-SIGNIFICANT HOTEL IN DOWN TOWN WABASH, INDIANA.
THE CORPORATION AND ITS ACTIVITIES ARE OPERATED, SUPERVISED, AND CONTROLLED BY THE SUPPORTED ORGANIZATIONS, BECAUSE THEY CONTROL TWO-THIRDS OF THE VOTES OF THE CORPORATION'S BOARD OF DIRECTORS. THE CORPORATION'S BOARD OF DIRECTORS IS COMPRISED OF SEVEN MEMBERS. EACH OF THE TWO SUPPORTED ORGANIZATIONS MAY APPOINT ONE DIRECTOR (BYLAWS, SECTION 2.03), NONE OF WHOM MAY BE A FAMILY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John F Aruffo Director | 0 | $0 | |
Tod Minnich Vice President | 0 | $0 | |
Steven R Ford Treasurer | 0 | $0 | |
Daniel H Ford President | 0 | $0 | |
Marsh Davis Director | 0 | $0 | |
Mark S Ford Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $397,154 |
| Dividends & Interest | $497,601 |
| Net Rental Income | -$19,551 |
| Net Gain on Sale of Assets | $946,161 |
| Capital Gain Net Income | $946,161 |
| Net ST Capital Gain | $92,071 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,490 |
| Total Revenue | $2,206,406 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $54,305 |
| Depreciation | $328,884 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $12,052 |
| Total operating and administrative expenses | $472,713 |
| Contributions, gifts, grants paid | $820,000 |
| Total expenses and disbursements | $1,292,713 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,060 |
| Savings and temporary cash investments | $380,232 |
| 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 | $17,631,591 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $9,624,568 |
| Total assets | $33,142,030 |
| 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, Charley Creek Foundation Inc has awarded $820,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CHARLEY CREEK INN HOSPITALITY CO HONEYWELL FOUNDATION & INDIANA LANDMARKS PURPOSE: UNRESTRICTED | $800,000 |
INDIANA LANDMARKS PURPOSE: UNRESTRICTED | $10,000 |
Wabash, IN PURPOSE: UNRESTRICTED | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Johnny Morris Foundation Springfield, MO | $120,561,207 | $600,000 |
Roderick And Solange Macarthur Justice Center Niles, IL | $137,820,704 | $9,175,098 |
John C Proctor Endowment Peoria, IL | $3,704,865 | $6,462,862 |
Collective Impact Network Saint Louis, MO | $21,375,860 | $4,592,347 |
Land Conservation Trust Of Southern Illinois Chicago, IL | $0 | $8,667,779 |
Center To Combat Human Trafficking Decatur, IL | $69,172,505 | $43,496,794 |
Chipstone Foundation Milwaukee, WI | $75,856,336 | $12,810,541 |
Fmc Aquatic Opportunities Chicago, IL | $22,984,375 | $1,955,015 |
Johnson Foundation Inc Racine, WI | $58,249,744 | $4,338,703 |
Drumm Center For Children Inc Independence, MO | $21,203,192 | $3,719,217 |
Coregiving Co Chicago, IL | $192,857 | $1,890,844 |
Dn Leadership Inc Louisville, KY | $2,441,151 | $7,192,611 |