Bright Foundation
- Assets
- $34.3m
- Revenue
- $806.1k
- Investments
- $33.9m
- Employees
- 0
- Location
- Urbandale, IA
- Founding
- 03/2019
- Data as of
- 06/2022
- EIN
- 42-6073848
Organization Overview
Bright Foundation is located in Urbandale, IA. The organization was established in 2019. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bright 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 06/2022, Bright Foundation generated $806.1k 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 (40.7%) each year. All expenses for the organization totaled $2.4m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Bright Foundation has awarded 42 individual grants totaling $9,489,525. 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 |
|---|---|---|---|
Meredith Dohmen President | 40 | $126,000 | |
Thomas E Press Chairman Of The Board & Managing Direc | 10 | $30,200 | |
Stacy Wanderscheid Secretary & Director | 1.5 | $3,200 | |
Jerry Deegan Vice President & Director | 1.5 | $3,200 | |
Charles A Haas Treasurer & Director | 1.5 | $3,200 | |
Jeffrey G Fleming Director | 1.5 | $3,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $776,472 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $19,666 |
| Capital Gain Net Income | $19,666 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $806,138 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $189,717 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $22,205 |
| Depreciation | $0 |
| Occupancy | $6,600 |
| Travel, conferences, and meetings | $842 |
| Printing and publications | $0 |
| Other expenses | $82,442 |
| Total operating and administrative expenses | $307,191 |
| Contributions, gifts, grants paid | $2,073,923 |
| Total expenses and disbursements | $2,381,114 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $417,794 |
| 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 | $29,575,717 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $34,336,186 |
| 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 | $2,295 |
| Total liabilities | $2,295 |
Grants Awarded
Over the last fiscal year, Bright Foundation has awarded $2,073,923 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Ames, IA PURPOSE: GENERAL FUND/SCHOLARSHIPS | $674,313 |
UNIVERSITY OF IOWA PURPOSE: GENERAL FUND/SCHOLARSHIPS | $540,944 |
Cedar Falls, IA PURPOSE: SCHOLARSHIPS | $376,634 |
SOUTHWESTERN COMMUNITY COLLEGE PURPOSE: SCHOLARSHIPS | $246,404 |
INDIAN HILLS FOUNDATION PURPOSE: SCHOLARSHIPS | $221,331 |
DES MOINES AREA COMMUNITY COLLEGE PURPOSE: SCHOLARSHIPS | $14,297 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bright Foundation has recieved totaling $110,000.
| Awarding Organization | Amount |
|---|---|
Mary K And Daniel M Kelly Foundation Des Moines, IA PURPOSE: GENERAL OPERATIONS | $110,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nebraska Student Loan Program Inc Lincoln, NE | $230,624,169 | $45,453,979 |
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Waitt Foundation North Sioux City, SD | $157,175,219 | $6,009,824 |
Professional Convention Management Association Chicago, IL | $13,503,434 | $11,522,188 |
Sigma Chi Foundation Evanston, IL | $40,441,719 | $12,690,646 |
AbbVie Employee Assistance Fund Inc North Chicago, IL | $0 | $8,759,468 |
Bentson Foundation Wayzata, MN | $107,689,978 | $6,021,397 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Alfred I Dupont Awards Foundation Chicago, IL | $0 | $4,985,997 |
Accenture Foundation Inc Chicago, IL | $134,926,823 | $15,596,009 |