Ideal Industries Foundation
- Assets
- $5.1m
- Revenue
- $330.8k
- Investments
- $4.9m
- Employees
- 0
- Location
- Sycamore, IL
- Founding
- 05/1987
- Data as of
- 12/2021
- EIN
- 36-3449960
Organization Overview
Ideal Industries Foundation is located in Sycamore, IL. The organization was established in 1987. 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. Ideal Industries 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 12/2021, Ideal Industries Foundation generated $330.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $325.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ideal Industries Foundation has awarded 279 individual grants totaling $2,541,789. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE PART XV-LINE 3A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Mendez Director | 1 | $0 | |
Kent Wrenn Director | 1 | $0 | |
Jordan Gladden Director | 1 | $0 | |
Shannon Schmittle Recording Secretary | 1 | $0 | |
Connie Holmes Executive Director | 1 | $0 | |
Sheila Johnsen Vice President & Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $9 |
| Dividends & Interest | $119,019 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $211,736 |
| Capital Gain Net Income | $211,736 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $330,764 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,771 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,222 |
| Total operating and administrative expenses | $30,311 |
| Contributions, gifts, grants paid | $295,504 |
| Total expenses and disbursements | $325,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,720 |
| Savings and temporary cash investments | $152,813 |
| 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 | $4,882,687 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,050,220 |
| 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, Ideal Industries Foundation has awarded $295,504 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: EDUCATIONAL | $50,000 |
FAMILY SERVICES AGENCY PURPOSE: CHARITABLE | $40,000 |
Dekalb, IL PURPOSE: CHARITABLE | $18,000 |
HOPE HAVEN OF DEKALB COUNTY PURPOSE: CHARITABLE | $17,000 |
CASA PURPOSE: CHARITABLE | $15,000 |
ADVENTURE WORKS PURPOSE: CHARITABLE | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lumina Foundation For Education Inc Indianapolis, IN | $0 | $124,727,424 |
Fulk Family Foundation Inc Chicago, IL | $111,507,856 | $5,187,231 |
The Robert D And Patricia E Kern Family Foundation Inc Waukesha, WI | $717,991,169 | $43,480,423 |
Grainger Foundation Inc Lake Forest, IL | $184,158,239 | $17,016,007 |
Crawford Taylor Foundation St Louis, MO | $738,101,888 | $69,635,068 |
Zell Family Foundation Chicago, IL | $0 | $76,843,080 |
Enterprise Holdings Foundation Saint Louis, MO | $398,583,830 | $68,157,541 |
Abbvie Foundation North Chicago, IL | $72,211,109 | $4,010,058 |
Hall Family Foundation Kansas City, MO | $1,171,646,854 | $87,869,006 |
Caterpillar Foundation Peoria, IL | $93,606,659 | $54,411,827 |
Circle Of Service Foundation Chicago, IL | $697,372,085 | $55,153,209 |
Allstate Foundation Northbrook, IL | $112,475,932 | $31,277,614 |