Illinois Tool Works Foundation
- Assets
- $328.6k
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Glenview, IL
- Founding
- 09/1956
- Data as of
- 12/2021
- EIN
- 36-6087160
Organization Overview
Illinois Tool Works Foundation is located in Glenview, IL. The organization was established in 1956. 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. Illinois Tool Works 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, Illinois Tool Works Foundation generated $8.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (16.0%) each year. All expenses for the organization totaled $9.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (12.8%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Illinois Tool Works Foundation has awarded 157 individual grants totaling $25,904,077. 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
N/A
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosemary Matzl Secretary* | 0 | $0 | |
Katie Lawler President* | 0 | $0 | |
Michael Larsen Director* | 0 | $0 | |
E Scott Santi Director* | 0 | $0 | |
Chris O'herlihy Director* | 0 | $0 | |
Jennifer Schott Director* | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,500,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $8,500,000 |
| 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 | $40,946 |
| Total operating and administrative expenses | $40,946 |
| Contributions, gifts, grants paid | $9,492,832 |
| Total expenses and disbursements | $9,533,778 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $328,623 |
| 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 | $328,623 |
| 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, Illinois Tool Works Foundation has awarded $16,292,832 in support to 77 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: UNRESTRICTED - GENERAL USE | $4,985,345 |
Chicago, IL PURPOSE: UNRESTRICTED - GENERAL USE | $2,000,000 |
RUSH UNIVERSITY MEDICAL CENTER PURPOSE: UNRESTRICTED - GENERAL USE | $1,600,000 |
KIDS FIRST CHICAGO PURPOSE: UNRESTRICTED - GENERAL USE | $800,000 |
Chicago, IL PURPOSE: UNRESTRICTED - GENERAL USE | $800,000 |
LAWNDALE EDUCATIONAL AND REGIONAL NETWORK CHARTER SCHOOL PURPOSE: UNRESTRICTED - GENERAL USE | $750,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Humana Foundation Inc Louisville, KY | $467,311,073 | $9,744,567 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Roger And Susan Stone Family Foundation Northbrook, IL | $23,476,805 | $8,385,528 |
Galashiels Fund Ltd Northbrook, IL | $154,593,436 | $48,314,988 |