Finnegan Family Foundation
- Assets
- $42.6m
- Revenue
- $1.8m
- Investments
- $36.4m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 08/1992
- Data as of
- 12/2022
- EIN
- 36-4221334
Organization Overview
Finnegan Family Foundation is located in Chicago, IL. The organization was established in 1992. 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. Finnegan 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, Finnegan Family Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (25.2%) each year. All expenses for the organization totaled $4.7m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Finnegan Family Foundation has awarded 467 individual grants totaling $18,735,527. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Albert Ward Mccally III Chairman | 8 | $30,000 | |
Mary Finnegan Secretary/director | 0 | $0 | |
Paul J Finnegan Treasurer/director | 0 | $0 | |
Katherine M Finnegan President | 40 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $200,000 |
| Interest on Savings | $26 |
| Dividends & Interest | $1,267,885 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $544,730 |
| Capital Gain Net Income | $544,730 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$206,810 |
| Total Revenue | $1,805,831 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $180,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $157,493 |
| Depreciation | $0 |
| Occupancy | $48,106 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,428 |
| Total operating and administrative expenses | $689,128 |
| Contributions, gifts, grants paid | $4,025,966 |
| Total expenses and disbursements | $4,715,094 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $6,137,355 |
| 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 | $10,760,251 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $496 |
| Total assets | $42,565,125 |
| 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, Finnegan Family Foundation has awarded $5,215,966 in support to 120 organizations.
| Grant Recipient | Amount |
|---|---|
A BETTER CHICAGO PURPOSE: $100K TO GENERAL OPERATIONS AND $100K TO CATALYST FUND | $200,000 |
ADVANCE ILLINOIS PURPOSE: UNRESTRICTED | $10,000 |
ACADEMY FOR URBAN SCHOOL LEADERSHIP PURPOSE: UNRESTRICTED | $100,000 |
ALLIANCE CHICAGO PURPOSE: JUNO4ME | $20,000 |
ASPIRITECH PURPOSE: UNRESTRICTED | $5,000 |
AMERICA NEEDS YOU PURPOSE: CHICAGO PROGRAM | $15,000 |