The Virginia A Groot Foundation
- Assets
- $8.8m
- Revenue
- $399.1k
- Investments
- $8.4m
- Employees
- 0
- Location
- Lake Forest, IL
- Founding
- 00/0000
- Data as of
- 12/2023
- EIN
- 41-1570531
Organization Overview
The Virginia A Groot Foundation is located in Lake Forest, IL. The organization was established in 0000. 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. Virginia A Groot 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 12/2023, Virginia A Groot Foundation generated $399.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $785.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Virginia A Groot Foundation has awarded 32 individual grants totaling $1,115,050. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE THE VIRGINIA A GROOT FOUNDATION ONLINE. WWW.VIRGINIAAGROOTFOUNDATION.ORG
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Penelope G West Secretary & Co-Treasurer | 10 | $40,008 | |
Nina W Latusek President | 10 | $75,000 | |
Carly H West Co-Treasurer | 1 | $20,000 | |
Stanley Shetka Vice-President | 1 | $40,008 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $369,039 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $30,105 |
| Capital Gain Net Income | $30,105 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $399,144 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $175,016 |
| Other employee salaries and wages | $7,000 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $17,709 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $26,186 |
| Printing and publications | $0 |
| Other expenses | $110,409 |
| Total operating and administrative expenses | $434,817 |
| Contributions, gifts, grants paid | $351,050 |
| Total expenses and disbursements | $785,867 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $426,906 |
| 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 | $2,564,399 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $15,820 |
| Total assets | $8,793,803 |
| Accounts payable and accrued expenses | $3,681 |
| 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 | $3,681 |
Grants Awarded
Over the last fiscal year, The Virginia A Groot Foundation has awarded $351,050 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
CHRISTA MARQUEZ SMITH PURPOSE: TO PURSUE EXCELLENCE IN THE SCULPTURAL ARTS | $5,000 |
JASON TAYLOR PURPOSE: TO PURSUE EXCELLENCE IN THE SCULPTURAL ARTS | $30,000 |
KUKULI VELARDE PURPOSE: TO PURSUE EXCELLENCE IN THE SCULPTURAL ARTS | $30,000 |
PROJECT ONWARD PURPOSE: TO PROMOTE AND PURSUE EXCELLENCE IN THE CERAMIC ARTS | $100,000 |
NATIONAL COUNCIL ON EDUCATION FOR THE CERAMIC ARTS PURPOSE: TO PROMOTE AND PURSUE EXCELLENCE IN THE CERAMIC ARTS | $1,050 |
LH PROJECT PURPOSE: TO PROMOTE AND PURSUE EXCELLENCE IN THE CERAMIC ARTS | $60,000 |