Tessie Grosby Charitable Foundation
- Assets
- $98.2k
- Revenue
- $7.9k
- Investments
- $77.0k
- Employees
- 0
- Location
- Palatine, IL
- Founding
- 06/1995
- Data as of
- 12/2022
- EIN
- 36-4001246
Organization Overview
Tessie Grosby Charitable Foundation is located in Palatine, IL. The organization was established in 1995. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., 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. Tessie Grosby Charitable 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, Tessie Grosby Charitable Foundation generated $7.9k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $17.1k during the year ending 12/2022. While expenses have increased by 15.0% per year over the past 4 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maurice Grosby Trustee | 1 | $0 | |
Marilyn Goldberg Cohen Trustee | 1 | $0 | |
Jennifer Spethmann Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $13,809 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$8,305 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,400 |
| Total Revenue | $7,906 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $351 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $15 |
| Total operating and administrative expenses | $2,116 |
| Contributions, gifts, grants paid | $15,028 |
| Total expenses and disbursements | $17,144 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,199 |
| Savings and temporary cash investments | $0 |
| 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 | $76,954 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $98,153 |
| 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, Tessie Grosby Charitable Foundation has awarded $15,028 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL MS SOCIETY PURPOSE: SUPPORT ORGANIZATION'S MISSION | $212 |
CONGREGATION OR SHALOM PURPOSE: SUPPORT ORGANIZATION'S MISSION | $500 |
JEWISH UNITED FUND PURPOSE: SUPPORT ORGANIZATION'S MISSION | $5,331 |
FLORIDA SHERIFFS YOUTH RANCHES PURPOSE: SUPPORT ORGANIZATION'S MISSION | $200 |
GIVE KIDS THE WORLD VILLAGE PURPOSE: SUPPORT ORGANIZATION'S MISSION | $2,035 |
PALATINE OPPORTUNITY CENTER PURPOSE: SUPPORT ORGANIZATION'S MISSION | $4,000 |