Gerald A & Karen Kolschowsky Foundation Inc
- Assets
- $32.2m
- Revenue
- $6.1m
- Investments
- $30.3m
- Employees
- 0
- Location
- Downers Grove, IL
- Founding
- 01/1988
- Data as of
- 12/2023
- EIN
- 36-3505302
Organization Overview
Gerald A & Karen Kolschowsky Foundation Inc is located in Downers Grove, IL. The organization was established in 1988. 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. Gerald A & Karen Kolschowsky 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 12/2023, Gerald A & Karen Kolschowsky Foundation Inc generated $6.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $10.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen A Kolschowsky Director | 2 | $0 | |
Gerald A Kolschowsky Director | 2 | $0 | |
Timothy J Kolschowsky President | 20 | $0 | |
Michael J Kolschowsky Vp-Sec-Treas | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,000,000 |
| Interest on Savings | $418,136 |
| Dividends & Interest | $462,487 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $224,352 |
| Capital Gain Net Income | $224,352 |
| Net ST Capital Gain | $2,902 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,104,975 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,170 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $17,381 |
| Printing and publications | $0 |
| Other expenses | $145,930 |
| Total operating and administrative expenses | $472,982 |
| Contributions, gifts, grants paid | $10,359,400 |
| Total expenses and disbursements | $10,832,382 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,689,418 |
| 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 | $150,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $20,451,489 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $32,152,974 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $222,960 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $222,960 |