Richard F & Carolyn A Chormann Family Foundation
- Assets
- $4.1m
- Revenue
- $209.3k
- Investments
- $4.0m
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 07/1999
- Data as of
- 07/2023
- EIN
- 38-3439226
Organization Overview
Richard F & Carolyn A Chormann Family Foundation is located in Grand Rapids, MI. The organization was established in 1999. 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. Richard F & Carolyn A Chormann Family Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2016, Richard F & Carolyn A Chormann Family Foundation has awarded 52 individual grants totaling $1,829,201. 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 |
|---|---|---|---|
Cynthia Hann Director, Vice President And Secretary | 1 | $0 | |
James Chormann Director, Vice President And Treasurer | 1 | $0 | |
Richard Chormann Director, President And CEO | 1 | $0 | |
Plante Moran Trust Trustee | 8 | $38,664 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $113,632 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $95,663 |
| Capital Gain Net Income | $95,663 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $209,295 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $38,664 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,617 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $20 |
| Total operating and administrative expenses | $47,201 |
| Contributions, gifts, grants paid | $274,000 |
| Total expenses and disbursements | $321,201 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $25,333 |
| 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 | $1,547,636 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,050,119 |
| 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, Richard F & Carolyn A Chormann Family Foundation has awarded $274,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
ARIZONA STATE UNIVERSITY FOUNDATION PURPOSE: NEW AMERICAN UNIVERSITY SCHOLARSHIP | $2,500 |
FISHTOWN PRESERVATION SOCIETY PURPOSE: GENERAL OPERATING | $10,000 |
INTERLOCHEN CENTER FOR THE ARTS PURPOSE: GENERAL OPERATING, SCHOLARSHIPS, DANCE BULIDING & CAC ENDOWMENT FOR VISUAL ARTS | $161,500 |
LEELANAU CONSERVANCY PURPOSE: PALMER WOODS PLEDGE 1000 ACRE PROJECT | $20,000 |
MUNSON HEALTHCARE FOUNDATIONS PURPOSE: BIRTHING CENTER/NICU | $60,000 |
WESTERN MICHIGAN UNIVERSITY FOUNDATION PURPOSE: RICHARD F. AND CAROLYN CURTIS CHORMANN SCHOLARSHIP | $20,000 |