Harry A & Margaret D Towsley Foundation
- Assets
- $44.9m
- Revenue
- $3.6m
- Investments
- $39.1m
- Employees
- 0
- Location
- Ann Arbor, MI
- Founding
- 09/1961
- Data as of
- 12/2022
- 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 12/2022, Harry A & Margaret D Towsley Foundation generated $3.6m 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 (8.9%) each year. All expenses for the organization totaled $4.4m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Harry A & Margaret D Towsley Foundation has awarded 663 individual grants totaling $35,926,892. 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 |
|---|---|---|---|
Judith D Rumelhart Vice Pres | 1 | $0 | |
Mary Ivers Treasurer | 4 | $0 | |
Jennifer Poteat Trustee | 1 | $0 | |
Margaret E Thompson Past Trustee | 1 | $0 | |
Steven Riecker Trustee | 1 | $0 | |
David Winston Inglish President | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $24,958 |
| Dividends & Interest | $1,406,292 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,209,781 |
| Capital Gain Net Income | $2,209,781 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,641,031 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $2,500 |
| Other employee salaries and wages | $19,905 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $37,146 |
| Depreciation | $0 |
| Occupancy | $10,363 |
| Travel, conferences, and meetings | $4,798 |
| Printing and publications | $0 |
| Other expenses | $35,078 |
| Total operating and administrative expenses | $197,733 |
| Contributions, gifts, grants paid | $4,172,500 |
| Total expenses and disbursements | $4,370,233 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $117,953 |
| Savings and temporary cash investments | $5,670,394 |
| 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 | $4,036 |
| Total assets | $44,864,925 |
| 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 $4,172,500 in support to 117 organizations.
| Grant Recipient | Amount |
|---|---|
ALBION COLLEGE PURPOSE: PROGRAM SUPPORT | $100,000 |
ALPHA PHI FOUNDATION PURPOSE: PROGRAM SUPPORT | $3,750 |
AMERICAN BIRD CONSERVANCY PURPOSE: PROGRAM SUPPORT | $117,000 |
ANN ARBOR ART CENTER PURPOSE: PROGRAM SUPPORT | $133,000 |
ARBOR HOSPICE FOUNDATION PURPOSE: PROGRAM SUPPORT | $30,000 |
ANN ARBOR SYMPHONY ORCHESTRA PURPOSE: PROGRAM SUPPORT | $15,000 |