Harry A & Margaret D Towsley Foundation
- Assets
- $45.6m
- Revenue
- $6.4m
- Investments
- $37.7m
- Employees
- 0
- Location
- Ann Arbor, MI
- Founding
- 09/1961
- Data as of
- 12/2021
- EIN
- 38-6091798
Organization Overview
Harry A & Margaret D Towsley Foundation is located in Ann Arbor, MI. The organization was established in 1961. 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. Harry A & Margaret D Towsley 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, Harry A & Margaret D Towsley Foundation generated $6.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $3.5m during the year ending 12/2021. While expenses have increased by 2.3% per year over the past 7 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.
Since 2016, Harry A & Margaret D Towsley Foundation has awarded 546 individual grants totaling $31,754,392. 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 |
|---|---|---|---|
Steven Riecker Trustee | 1 | $0 | |
C Wendell Dunbar Pres/trustee | 10 | $0 | |
Jennifer Poteat Trustee | 1 | $0 | |
Lynn T White Trustee | 1 | $0 | |
Margaret E Thompson Trustee | 1 | $0 | |
Mary Ivers Treasurer/trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $421 |
| Dividends & Interest | $1,382,487 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,030,568 |
| Capital Gain Net Income | $5,021,792 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $6,413,476 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $18,783 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $148,089 |
| Depreciation | $0 |
| Occupancy | $10,068 |
| Travel, conferences, and meetings | $4,234 |
| Printing and publications | $0 |
| Other expenses | $29,752 |
| Total operating and administrative expenses | $301,978 |
| Contributions, gifts, grants paid | $3,218,812 |
| Total expenses and disbursements | $3,520,790 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,261 |
| Savings and temporary cash investments | $7,365,515 |
| 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 | $0 |
| Other assets | $301,718 |
| Total assets | $45,594,127 |
| 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, Harry A & Margaret D Towsley Foundation has awarded $5,673,812 in support to 100 organizations.
| Grant Recipient | Amount |
|---|---|
UM KELLOGG EYE CENTER PURPOSE: PROGRAM SUPPORT | $800,000 |
UM FORD SCHOOL OF PUBLIC POLICY PURPOSE: PROGRAM SUPPORT | $750,000 |
Ypsilanti, MI PURPOSE: PROGRAM SUPPORT | $400,000 |
GRAND TRAVERSE REGIONAL LAND CONSERVANCY PURPOSE: PROGRAM SUPPORT | $250,000 |
ST JOSEPH MERCY HOSPITAL PURPOSE: PROGRAM SUPPORT | $200,000 |
UM SCHOOL OF EDUCATION PURPOSE: PROGRAM SUPPORT | $200,000 |
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 |