Chipstone Foundation
- Assets
- $75.9m
- Revenue
- $12.8m
- Investments
- $47.8m
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 01/1967
- Data as of
- 12/2021
- EIN
- 39-6096593
Organization Overview
Chipstone Foundation is located in Milwaukee, WI. The organization was established in 1967. According to its NTEE Classification (T23) the organization is classified as: Private Operating 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. Chipstone 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, Chipstone Foundation generated $12.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $4.3m during the year ending 12/2021. While expenses have increased by 1.5% per year over the past 4 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
MAINTENANCE OF COLLECTION & FOX POINT FACILITY, CURATORIAL & EXHIBITION FUNCTIONS FOR AMERICAN COLLECTIONS GALLERIES, MILWAUKEE ART MUSEUM; PUBLICATION OF CERAMICS IN AMERICA
JOURNAL AND AMERICAN FURNITURE JOURNAL; ACQUISITION OF WORKS FOR THE COLLECTION, WEB SITE OUTREACH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W David Knox II Chair, Pres(ceo), Treas, Dir | 55 | $536,504 | |
Jonathan Prown Executive Dir & Chief Curator | 55 | $258,240 | |
Jacquelyn A Sarich Off Adm, VP Admin & Asst Sec | 40 | $127,648 | |
Rebecca Dibble Curator | 40 | $70,000 | |
Theodore Mccoy Caretaker | 40 | $64,214 | |
Steve Walschlaeger Caretaker | 40 | $56,373 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Luke Beckerdite Llc | 12/30/21 | $83,000 |
Wynne Patterson Inc | 12/30/21 | $126,641 |
Robert R Hunter | 12/30/21 | $107,057 |
Foley & Lardner Llp | 12/30/21 | $59,471 |
Luke Beckerdite Llc | 12/30/21 | $0 |
Robert R Hunter | 12/30/21 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $150,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,008,427 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $9,530,989 |
| Capital Gain Net Income | $8,585,277 |
| Net ST Capital Gain | $166,792 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,121,125 |
| Total Revenue | $12,810,541 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $976,142 |
| Other employee salaries and wages | $230,083 |
| Pension plans, employee benefits | $336,525 |
| Interest | $29,213 |
| Taxes | $113,177 |
| Depreciation | $26,086 |
| Occupancy | $138,238 |
| Travel, conferences, and meetings | $35,078 |
| Printing and publications | $4,874 |
| Other expenses | $1,286,234 |
| Total operating and administrative expenses | $3,822,538 |
| Contributions, gifts, grants paid | $464,380 |
| Total expenses and disbursements | $4,286,918 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,405,198 |
| 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 | $76,477 |
| Other assets | $22,562,176 |
| Total assets | $75,856,336 |
| 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 Recieved
Over the last fiscal year, we have identified 1 grants that Chipstone Foundation has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Wunsch Foundation Inc New York, NY PURPOSE: EDUCATION | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Roderick And Solange Macarthur Justice Center Niles, IL | $137,820,704 | $9,175,098 |
John C Proctor Endowment Peoria, IL | $3,704,865 | $6,462,862 |
Wacosa Waite Park, MN | $12,140,309 | $9,104,818 |
Land Conservation Trust Of Southern Illinois Chicago, IL | $0 | $8,667,779 |
World Food Prize Foundation Urbandale, IA | $73,712,928 | $6,192,203 |
Center To Combat Human Trafficking Decatur, IL | $69,172,505 | $43,496,794 |
Chipstone Foundation Milwaukee, WI | $75,856,336 | $12,810,541 |
Fmc Aquatic Opportunities Chicago, IL | $22,984,375 | $1,955,015 |
Johnson Foundation Inc Racine, WI | $58,249,744 | $4,338,703 |
Jeffers Foundation Plymouth, MN | $13,209,879 | $451,010 |
Saga Foundation Kalamazoo, MI | $17,766,736 | $2,178,963 |
Coregiving Co Chicago, IL | $192,857 | $1,890,844 |