Keith A Iverson Foundation
- Assets
- $4.1m
- Revenue
- $84.4k
- Investments
- $3.9m
- Employees
- 0
- Location
- Bloomfield Hills, MI
- Founding
- 12/1997
- Data as of
- 12/2022
- EIN
- 38-3378231
Organization Overview
Keith A Iverson Foundation is located in Bloomfield Hills, MI. The organization was established in 1997. 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. Keith A Iverson 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, Keith A Iverson Foundation generated $84.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.0%) each year. All expenses for the organization totaled $267.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Keith A Iverson Foundation has awarded 99 individual grants totaling $847,411. 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 |
|---|---|---|---|
Amy M Corbin President/director | 1 | $3,000 | |
Clifford T Iverson Vice President/director | 1 | $3,000 | |
John M Foster Treasurer/director | 2 | $3,000 | |
Mark D Hamlin Secretary/director | 1 | $3,000 | |
Michael H Russell Vice President/director | 1 | $3,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $227,405 |
| Interest on Savings | $792 |
| Dividends & Interest | $46,648 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$190,438 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $84,407 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $15,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $480 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $62,278 |
| Contributions, gifts, grants paid | $205,000 |
| Total expenses and disbursements | $267,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $206,987 |
| 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 | $3,864,135 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,071,122 |
| 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, Keith A Iverson Foundation has awarded $205,000 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
ASPCA PURPOSE: TO ENHANCE CHARITABLE ACTIVITIES | $40,000 |
COMMUNITY SHARING PURPOSE: TO ENHANCE CHARITABLE ACTIVITIESTO ENCHANCE CHARITBLE ACTIVITIES | $15,000 |
ETON ACADEMY PURPOSE: TO ENHANCE THE LEARNING ENVIROMENT | $10,000 |
HURON VALLEY BASEBALL & SOFTBALL PURPOSE: TO ENHANCE CHARITABLE ACTIVITIES | $16,000 |
KIDS' FOOD BASKET PURPOSE: TO ENHANCE CHARITABLE ACTIVITIES | $5,000 |
LAUREL NOKOMIS SCHOOL PURPOSE: TO ENHANCE CHARITABLE ACTIVITIES | $20,000 |