Karen & Drew Peslar Foundation
- Assets
- $5.6m
- Revenue
- $538.7k
- Investments
- $5.4m
- Employees
- 0
- Location
- Birmingham, MI
- Founding
- 01/1998
- Data as of
- 12/2022
- EIN
- 38-3374272
Organization Overview
Karen & Drew Peslar Foundation is located in Birmingham, MI. The organization was established in 1998. 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. Karen & Drew Peslar 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 12/2022, Karen & Drew Peslar Foundation generated $538.7k 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 (3.0%) each year. All expenses for the organization totaled $639.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Karen & Drew Peslar Foundation has awarded 65 individual grants totaling $1,276,915. 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 |
|---|---|---|---|
Drew Peslar Chairman | 15 | $0 | |
Karen Peslar Director/treasurer | 4 | $0 | |
Samantha Durakovic Director/secretary | 7 | $18,000 | |
Virginia Webster-Smith President/executive Direct | 32 | $56,920 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $90,883 |
| Interest on Savings | $421 |
| Dividends & Interest | $102,634 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $344,730 |
| Capital Gain Net Income | $344,730 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $538,668 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $18,000 |
| Other employee salaries and wages | $56,920 |
| Pension plans, employee benefits | $9,650 |
| Interest | $0 |
| Taxes | $12,815 |
| Depreciation | $1,299 |
| Occupancy | $39,807 |
| Travel, conferences, and meetings | $513 |
| Printing and publications | $0 |
| Other expenses | $10,059 |
| Total operating and administrative expenses | $215,915 |
| Contributions, gifts, grants paid | $423,530 |
| Total expenses and disbursements | $639,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $235,562 |
| 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 | $4,606 |
| Other assets | $2,883 |
| Total assets | $5,608,033 |
| 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 | $165,048 |
| Total liabilities | $165,048 |
Grants Awarded
Over the last fiscal year, Karen & Drew Peslar Foundation has awarded $423,530 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
ANGEL'S PLACE PURPOSE: FOR ASSISTANCE TO DEVELOPMENTALLY CHALLENGED ADULT PROGRAMS | $10,000 |
CRANBROOK INSTITUTE OF SCIENCE PURPOSE: FOR EDUCATIONAL PROGRAMMING | $16,000 |
DETROIT AUDUBON PURPOSE: FOR EDUCATIONAL PROGRAMMING | $5,000 |
DETROIT HISTORICAL SOCIETY PURPOSE: FOR EDUCATIONAL PROGRAMMING | $50,000 |
DETROIT INSTITUTE OF ARTS PURPOSE: FOR PROGRAMMING | $20,000 |
DETROIT ZOOLOGICAL SOCIETY PURPOSE: FOR PROGRAMMING | $25,000 |