Gorter Family Foundation
- Assets
- $34.0m
- Revenue
- $1.1m
- Investments
- $30.8m
- Employees
- 0
- Location
- Lake Bluff, IL
- Founding
- 02/1978
- Data as of
- 12/2022
- EIN
- 36-2950350
Organization Overview
Gorter Family Foundation is located in Lake Bluff, IL. The organization was established in 1978. 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. Gorter Family 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, Gorter Family Foundation generated $1.1m 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 (37.5%) each year. All expenses for the organization totaled $3.5m during the year ending 12/2022. 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
2022
Describe the Organization's Program Activity:
NONE
NONE
NONE
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James P Gorter President | 1 | $0 | |
Lauren A Gorter Director | 1 | $0 | |
Audrey F Gorter Director | 1 | $0 | |
Mary Gorter Krey Director | 1 | $0 | |
David F Gorter Director | 1 | $0 | |
Bradley R Krey Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $145,396 |
| Dividends & Interest | $488,606 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $211,965 |
| Capital Gain Net Income | $211,965 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $216,757 |
| Total Revenue | $1,062,724 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $164,475 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $63,786 |
| Total operating and administrative expenses | $887,580 |
| Contributions, gifts, grants paid | $2,577,357 |
| Total expenses and disbursements | $3,464,937 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,304 |
| Savings and temporary cash investments | $3,268,528 |
| 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 | $7,217,667 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $34,043,808 |
| 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 |