Isabel Foundation
- Assets
- $83.8m
- Revenue
- $1.8m
- Investments
- $78.1m
- Employees
- 0
- Location
- Flint, MI
- Founding
- 10/1989
- Data as of
- 06/2021
- EIN
- 38-2853004
Organization Overview
Isabel Foundation is located in Flint, MI. The organization was established in 1989. 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. Isabel 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 06/2021, Isabel Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $3.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Isabel Foundation has awarded 450 individual grants totaling $19,128,412. 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
2021
Describe the Organization's Program Activity:
THE GLASS COLLECTION - THE FOUNDATION LEASES A COLLECTION OF BLOWN GLASS AT NO COST TO THE FLINT INSTITUTE OF ARTS, A PUBLIC CHARITY, FOR PUBLIC DISPLAY BY THE FLINT INSTITUTE OF ARTS. THE FLINT INSTITUTE OF ARTS IS THE SECOND LARGEST ART MUSEUM IN THE STATE OF MICHIGAN AND, EACH YEAR, MORE THAN 160,000 PEOPLE VISIT THE FLINT INSTITUTE OF ART'S GALLERIES (FREE OF CHARGE) AND PARTICIPATE IN ITS PROGRAMS AND SERVICES.THE COST AND EXPENSES ASSOCIATED WITH ACQUIRING THE COLLECTION IS $2,851,143.31
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tiffany W Lovett President & Trustee | 20 | $73,653 | |
Ridgway H White V/p, Treasurer, Secretary & Trustee | 0 | $0 | |
William S White Deceased 102019 Former V/p & Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,049,587 |
| Net Rental Income | $4,325 |
| Net Gain on Sale of Assets | $739,268 |
| Capital Gain Net Income | $739,268 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,795,770 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $73,653 |
| Other employee salaries and wages | $67,131 |
| Pension plans, employee benefits | $20,168 |
| Interest | $0 |
| Taxes | $40,450 |
| Depreciation | $2,590 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $548 |
| Printing and publications | $1,325 |
| Other expenses | $148,706 |
| Total operating and administrative expenses | $481,170 |
| Contributions, gifts, grants paid | $2,482,600 |
| Total expenses and disbursements | $2,963,770 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,241 |
| Savings and temporary cash investments | $1,170,573 |
| Net Accounts receivable | $22,787 |
| 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 | $35,351 |
| Investments—mortgage loans | $0 |
| Investments—other | $16,681,153 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $4,495,943 |
| Total assets | $83,824,276 |
| Accounts payable and accrued expenses | $296,000 |
| 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 | $136,020 |
| Total liabilities | $432,020 |
Grants Awarded
Over the last fiscal year, Isabel Foundation has awarded $2,482,600 in support to 66 organizations.
| Grant Recipient | Amount |
|---|---|
Greenwood Village, CO PURPOSE: 2019-2021 PLEDGE | $250,000 |
PRINCIPIA THE PURPOSE: 2021-2023 PLEDGE - SUPPORT FOR SIMON FIELD HOUSE | $200,000 |
Boston, MA PURPOSE: 2021-2023 PLEDGE - COLLEGE ORGS & YOUTH ACTIVITIES AT THE MOTHER CHURCH | $150,000 |
FIRST CHURCH OF CHRIST SCIENTIST FLINT THE PURPOSE: GENERAL OPERATING EXPENSES | $130,000 |
Flint, MI PURPOSE: CULTURAL CENTER/SLOAN MUSEUM RENOVATIONS | $100,000 |
CEDARS CAMPS THE PURPOSE: 2021-2023 PLEDGE - OPERATIONS SUPPORT | $70,000 |
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 |