Michael & Carrie Gidwitz Charitable Foundation Inc
- Assets
- $473.3k
- Revenue
- $352.8k
- Investments
- $471.7k
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 11/1951
- Data as of
- 11/2023
- EIN
- 36-6033800
Organization Overview
Michael & Carrie Gidwitz Charitable Foundation Inc is located in Chicago, IL. The organization was established in 1951. 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. Michael & Carrie Gidwitz Charitable 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 11/2023, Michael & Carrie Gidwitz Charitable Foundation Inc generated $352.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 38.9% each year . All expenses for the organization totaled $118.4k during the year ending 11/2023. While expenses have increased by 13.5% per year over the past 8 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.
Since 2016, Michael & Carrie Gidwitz Charitable Foundation Inc has awarded 192 individual grants totaling $493,242. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Gidwitz II President/treasurer | 25 | $0 | |
Dorothy Wallace Vice-President/secretary | 25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $233,114 |
| Interest on Savings | $5 |
| Dividends & Interest | $21,845 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $97,838 |
| Capital Gain Net Income | $97,838 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $352,802 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20 |
| Total operating and administrative expenses | $18,706 |
| Contributions, gifts, grants paid | $99,647 |
| Total expenses and disbursements | $118,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,607 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $473,327 |
| 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, Michael & Carrie Gidwitz Charitable Foundation Inc has awarded $99,647 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
CYSTIC FIBROSIS FOUNDATION OF GREATER IL PURPOSE: GENERAL PROGRAM SERVICES | $2,000 |
ADVOCATE CHARITABLE FOUNDATION CO KEYSER FAMILY PEDIATRIC CANCER CENTER PURPOSE: GENERAL PROGRAM SERVICES | $5,000 |
BEAR NECESSITIES PEDIATRIC CANCER FOUNDATION PURPOSE: GENERAL PROGRAM SERVICES | $1,000 |
CHICAGO HEARING SOCIETY PURPOSE: GENERAL PROGRAM SERVICES | $5,000 |
DISABLED AMERICAN VETERANS PURPOSE: GENERAL PROGRAM SERVICES | $5,000 |
COMER CHILDREN'S HOSPITAL PURPOSE: GENERAL PROGRAM SERVICES | $3,000 |