Ingalls Development Foundation
- Assets
- $82.5m
- Revenue
- $5.6m
- Investments
- $10.7m
- Employees
- 0
- Location
- Harvey, IL
- Founding
- 08/1982
- Data as of
- 06/2021
- EIN
- 36-3189150
Organization Overview
Ingalls Development Foundation is located in Harvey, IL. The organization was established in 1982. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ingalls Development 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 06/2021, Ingalls Development Foundation generated $5.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (22.0%) each year. All expenses for the organization totaled $3.0m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Ingalls Development Foundation has awarded 16 individual grants totaling $7,128,082. 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
INGALLS DEVELOPMENT FOUNDATION (IDF) SUPPORTS INGALLS MEMORIAL HOSPITAL BY PROVIDING LEADERSHIP FOR THE OPERATION OF FUNDRAISING EVENTS EACH YEAR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INGALLS DEVELOPMENT FOUNDATION (IDF) GENERALLY HOLDS THREE FUNDRAISING EVENTS EACH YEAR. THE BENEFIT SHOW IS THE LARGEST FUNDRAISER FOLLOWED BY THE GOLF OUTING AND THE FASHION SHOW. THE FISCAL YEAR 2021 BENEFIT SHOW WAS POSTPONED UNTIL FISCAL YEAR 2022 DUE TO THE CORONAVIRUS PANDEMIC. IN ADDITION TO THE FUNDRAISING EVENTS, THE ORGANIZATION DEVELOPS AND MAINTAINS COMMUNITY AND PUBLIC RELATIONSHIPS TO SUPPORT THE FINANCIAL NEEDS OF INGALLS MEMORIAL HOSPITAL AND THE UNIVERSITY OF CHICAGO MEDICAL CENTER. THESE RELATIONSHIPS ARE TARGETED TO GENERATE FUNDS FOR NEW PROGRAMS AND TO PROVIDE SERVICES TO MEMBERS OF THE COMMUNITY WITHOUT RESOURCES TO PAY FOR REQUIRED HEALTHCARE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chief Financial Officer Til 8/29/19 | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $176,256 |
| Related organizations | $137,700 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,800,684 |
| Noncash contributions included in lines 1a–1f | $11,481 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,114,640 |
| Total Program Service Revenue | $0 |
| Investment income | $582,432 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,928,519 |
| Net Income from Fundraising Events | -$39,781 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,585,810 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,437,368 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,332 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $279,646 |
| Fees for services: Other | $272,338 |
| Advertising and promotion | $8,259 |
| Office expenses | $926 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $308 |
| 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 | $0 |
| All other expenses | $33,290 |
| Total functional expenses | $3,008,660 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $1,046,881 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $216,777 |
| 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 | $26,414 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $70,496,535 |
| Investments—other securities | $10,715,156 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $82,501,963 |
| Accounts payable and accrued expenses | $158,470 |
| Grants payable | $0 |
| Deferred revenue | $181,550 |
| 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 | $227,455 |
| Total liabilities | $567,475 |
| Net assets without donor restrictions | $68,060,284 |
| Net assets with donor restrictions | $13,874,204 |
| 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 | $82,501,963 |
Grants Awarded
Over the last fiscal year, Ingalls Development Foundation has awarded $1,273,221 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Harvey, IL PURPOSE: GENERAL PROGRAM SUPPORT | $1,238,221 |
Chicago, IL PURPOSE: Vitamin D Research | $35,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Ingalls Development Foundation has recieved totaling $103,000.
| Awarding Organization | Amount |
|---|---|
Southern Company Gas Charitable Foundation Inc Atlanta, GA PURPOSE: SIGNATURE | $100,000 |
Sedge Plitt Charitable Tr Iii Wilmette, IL PURPOSE: GENERAL FUNDS | $2,500 |
R&k Lake Foundation Country Club Hills, IL PURPOSE: KIDS | $500 |
Endowment Analysis
| Beg. Balance | $12,791,253 |
| Earnings | $1,629,853 |
| Net Contributions | $398,210 |
| Other Expense | $945,112 |
| Ending Balance | $13,874,204 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Indiana Health Information Exchange Inc Indianapolis, IN | $7,071,643 | $17,868,575 |
Construction Industry Of Kansas Health & Welfare Trust Fund Agreem Lexington, KY | $4,313,780 | $19,547,175 |
Vollrath Company Employee Health & Welfare Benefit Trust Sheboygan, WI | $1,493,056 | $18,329,364 |
Cmc Foundation Of Central Texas St Louis, MO | $62,748,063 | $28,416,525 |
Saint Lukes Foundation Kansas City, MO | $267,580,144 | $14,180,351 |
Childrens Hospital Foundation Louisville, KY | $121,952,447 | $19,774,743 |
Southern Illinois Laborers & Empl Health & Welfare Fund Marion, IL | $23,536,245 | $17,167,946 |
Cardinal Glennon Childrens Foundation St Louis, MO | $175,256,703 | $38,879,675 |
Manatts Inc Group Health Plan & Tr Brooklyn, IA | $3,919,154 | $13,220,530 |
Communicare Services Elizabethtown, KY | $10,036,197 | $20,763,461 |
Hoosier Cancer Research Network Inc Indianapolis, IN | $13,291,653 | $12,660,733 |
Health & Welfare Fund Of Cedar Rapids Iowa V A Local 125 Cedar Rapids, IA | $31,419,781 | $18,589,909 |