Skillman Foundation
- Assets
- $412.5m
- Revenue
- $53.7m
- Investments
- $389.6m
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 05/2006
- Data as of
- 12/2021
- EIN
- 38-1675780
Organization Overview
Skillman Foundation is located in Detroit, MI. The organization was established in 2006. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Skillman 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, Skillman Foundation generated $53.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 15.4% each year . All expenses for the organization totaled $30.7m during the year ending 12/2021. While expenses have increased by 2.6% 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.
Since 2020, Skillman Foundation has awarded 452 individual grants totaling $35,485,348. 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 |
|---|---|---|---|
Maria Woodruff-Wright Treasurer, VP Of Operations & CFO | 40 | $308,287 | |
Punita Dani Thurman Vp, Program And Strategy | 40 | $238,236 | |
Angelique Power President, Secretary & CEO (started) | 40 | $234,080 | |
David Mcghee Vp, Org. Excellence And Impact | 40 | $188,615 | |
Jack Elsey Program Director, St | 40 | $186,208 | |
Andrea Anderson Director Of Evaluati | 40 | $143,390 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Plante & Moran Pllc | 12/30/21 | $79,425 |
Information Technology Partners | 12/30/21 | $245,894 |
Korn Ferry | 12/30/21 | $189,325 |
Investure Llc | 12/30/21 | $2,783,386 |
Kaleidoscope Pathways Llc | 12/30/21 | $198,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $492,771 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $53,206,615 |
| Capital Gain Net Income | $53,392,986 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $53,699,386 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $1,278,744 |
| Other employee salaries and wages | $1,530,904 |
| Pension plans, employee benefits | $786,714 |
| Interest | $0 |
| Taxes | $281,199 |
| Depreciation | $57,294 |
| Occupancy | $335,140 |
| Travel, conferences, and meetings | $83,458 |
| Printing and publications | $7,123 |
| Other expenses | $396,672 |
| Total operating and administrative expenses | $9,763,972 |
| Contributions, gifts, grants paid | $20,984,409 |
| Total expenses and disbursements | $30,748,381 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,901,037 |
| Savings and temporary cash investments | $500,245 |
| Net Accounts receivable | $759,387 |
| 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 | $189,789,049 |
| Net Land, buildings, and equipment | $86,043 |
| Other assets | $1,671,135 |
| Total assets | $412,503,854 |
| Accounts payable and accrued expenses | $2,180,297 |
| Grants payable | $4,578,225 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $3,219,660 |
| Total liabilities | $9,978,182 |
Grants Awarded
Over the last fiscal year, Skillman Foundation has awarded $18,442,475 in support to 245 organizations.
| Grant Recipient | Amount |
|---|---|
Detroit, MI PURPOSE: STRATEGIC NEIGHBORHOOD FUND 2.0 | $800,000 |
Detroit, MI PURPOSE: GENERAL OPERATING SUPPORT | $650,000 |
Southfield, MI PURPOSE: SCHOOL WELLNESS GRANTS | $560,000 |
DETROIT EMPLOYMENT SOLUTIONS CORPORATION PURPOSE: GROW DETROIT'S YOUNG TALENT | $550,000 |
Detroit, MI PURPOSE: STABILIZING SAFE SPACES ACROSS DETROIT DURING THE SCHOOL YEAR AND SUMMER | $500,000 |
Detroit, MI PURPOSE: EVERY SCHOOL DAY COUNTS DETROIT (ESDCD): PARTNERING WITH COMMUNITY TO BUILD A SCHOOL-GOING CULTURE IN DETROIT THROUGH MULTILAYERED SYSTEMS OF SUPPORT | $450,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Skillman Foundation has recieved totaling $1,500,000.
| Awarding Organization | Amount |
|---|---|
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Education | $1,500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Richard U Light Foundation Kalamazoo, MI | $629,730 | $25,417,215 |
Skillman Foundation Detroit, MI | $412,503,854 | $53,699,386 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Cardinal Services Inc Of Indiana Warsaw, IN | $28,675,162 | $26,373,889 |
Kalamazoo Promise Kalamazoo, MI | $7,251,327 | $23,596,440 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |
Knowledgeworks Foundation Cincinnati, OH | $34,010,195 | $7,717,304 |
Ruth Mott Foundation Flint, MI | $290,091,185 | $30,117,543 |
Jewell Educational Fund Owosso, MI | $398,993,901 | $18,985,075 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Perkins Malo Hunter Foundation Holland, MI | $51,295,166 | -$331,905 |
Thompson Foundation Plymouth, MI | $5,518,000 | $2,844,461 |