The Ave Maria Foundation
- Assets
- $5.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Ann Arbor, MI
- Founding
- 05/1984
- Data as of
- 12/2021
- EIN
- 38-2514364
Organization Overview
The Ave Maria Foundation is located in Ann Arbor, MI. The organization was established in 1984. 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. Ave Maria 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, Ave Maria Foundation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 0.1% per year over the past 3 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
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AVE MARIA FOUNDATION (TAMF) COVERS EXPENSES (INCLUDING PRIEST STIPENDS) FOR A CHAPEL THAT OFFERS FOUR DAILY MASSES TO APPROXIMATELY 300 INDIVIDUALS A DAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Roney Treasurer/director | 10 | $89,932 | |
Jeff Randolph Secretary/director | 20 | $64,046 | |
Rebecca Zmuda Hr Manager | 20 | $60,645 | |
George Forrest Dir Acctg & Tax | 16 | $58,763 | |
Eric Van Heusen Scout Coordinator | 40 | $54,005 | |
Greg Carl Controller | 24 | $49,440 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,788,600 |
| Interest on Savings | $0 |
| Dividends & Interest | $66 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $682 |
| Capital Gain Net Income | $682 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $150,597 |
| Total Revenue | $1,939,945 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $189,546 |
| Other employee salaries and wages | $477,442 |
| Pension plans, employee benefits | $165,704 |
| Interest | $0 |
| Taxes | $47,426 |
| Depreciation | $5,806 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $58,175 |
| Printing and publications | $13,949 |
| Other expenses | $182,000 |
| Total operating and administrative expenses | $1,220,214 |
| Contributions, gifts, grants paid | $93,190 |
| Total expenses and disbursements | $1,313,404 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,068,872 |
| Savings and temporary cash investments | $852,697 |
| Net Accounts receivable | $9,001 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $807,967 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $280,000 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $111,566 |
| Other assets | $1,981,569 |
| Total assets | $5,111,672 |
| 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 | $1,981,569 |
| Total liabilities | $1,981,569 |
Grants Awarded
Over the last fiscal year, The Ave Maria Foundation has awarded $93,190 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Ave Maria, FL PURPOSE: GENERAL SUPPORT | $64,408 |
LEGATUS PURPOSE: GENERAL SUPPORT | $28,100 |
Naples, FL PURPOSE: GENERAL SUPPORT | $682 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Ave Maria Foundation has recieved totaling $12,500.
| Awarding Organization | Amount |
|---|---|
Cedar Street Charitable Foundation Inc Milwaukee, WI PURPOSE: GENERAL | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Douglas & Maria Devos Foundation Grand Rapids, MI | $79,921,409 | $9,501,037 |
Fred F Silk Charitable Foundation Louisville, OH | $0 | $2,703,630 |
Jewish Foundation Of Cincinnati Cincinnati, OH | $344,322,004 | $65,111,190 |
Charles F Kettering Foundation Dayton, OH | $413,895,327 | $17,762,033 |
Jay And Jeanie Schottenstein Foundation Columbus, OH | $12,858,446 | $29,259,001 |
The Lozick Family Foundation Pepper Pike, OH | $264,438,182 | $44,457,050 |
Dow Company Foundation Bay City, MI | $175,531,548 | $110,489,699 |
Timken Foundation Of Canton Canton, OH | $32,951,548 | $35,361,538 |
Irving S Gilmore Foundation Kalamazoo, MI | $388,410,325 | $41,180,610 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Siemer Family Foundation Columbus, OH | $55,510,313 | $15,843,554 |
Orphan Foundation Of America Orph Cleveland, OH | $10,515,752 | $16,785,416 |