William G Mcgowan Charitable Fund Inc
- Assets
- $205.6m
- Revenue
- $4.8m
- Investments
- $202.8m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 06/1993
- Data as of
- 06/2023
- EIN
- 52-1829785
Organization Overview
William G Mcgowan Charitable Fund Inc is located in Chicago, IL. The organization was established in 1993. 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. William G Mcgowan Charitable Fund Inc 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 06/2023, William G Mcgowan Charitable Fund Inc generated $4.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (29.9%) each year. All expenses for the organization totaled $9.7m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, William G Mcgowan Charitable Fund Inc has awarded 606 individual grants totaling $22,740,187. 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 |
|---|---|---|---|
William P Mcgowan Chairman Of The Board | 10 | $0 | |
Leo Mcgowan President | 10 | $0 | |
A Joseph Rosica Secretary | 10 | $0 | |
Brian Mcgowan Treasurer | 10 | $0 | |
Gertrude Mcgowan Director | 10 | $0 | |
Daniel Rosica Director | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Strategic Partnerships Llc | 6/29/23 | $369,253 |
Capfinancial Partners Llc | 6/29/23 | $190,070 |
Oda Creative Partners Ltd | 6/29/23 | $155,100 |
The Institute | 6/29/23 | $107,824 |
Elizabeth S Finley | 6/29/23 | $76,345 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $145,986 |
| Dividends & Interest | $3,801,628 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $672,313 |
| Capital Gain Net Income | $2,833,176 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $138,317 |
| Total Revenue | $4,758,244 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $466,482 |
| Other employee salaries and wages | $404,210 |
| Pension plans, employee benefits | $176,951 |
| Interest | $0 |
| Taxes | $90,000 |
| Depreciation | $26,860 |
| Occupancy | $131,839 |
| Travel, conferences, and meetings | $97,399 |
| Printing and publications | $0 |
| Other expenses | $1,089,119 |
| Total operating and administrative expenses | $2,936,013 |
| Contributions, gifts, grants paid | $6,810,452 |
| Total expenses and disbursements | $9,746,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $208,540 |
| Savings and temporary cash investments | $2,327,686 |
| Net Accounts receivable | $758 |
| 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 | $47,100 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $202,801,534 |
| Net Land, buildings, and equipment | $164,295 |
| Other assets | $99,631 |
| Total assets | $205,649,544 |
| Accounts payable and accrued expenses | $97,176 |
| Grants payable | $1,444,540 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $339,515 |
| Total liabilities | $1,881,231 |
Grants Awarded
Over the last fiscal year, William G Mcgowan Charitable Fund Inc has awarded $8,229,990 in support to 189 organizations.
| Grant Recipient | Amount |
|---|---|
1C22 MINISTRIES PURPOSE: GENERAL OPERATIONS | $2,500 |
BISHOP MIEGE HIGH SCHOOL PURPOSE: BERNIE MADDEN SCHOLARSHIP | $2,500 |
BISHOP MIEGE HIGH SCHOOL PURPOSE: FUND A NEED | $2,500 |
BRIGHT FUTURE FOUNDATION PURPOSE: BRIGHT FUTURE FOUNDATION'S ENSURING FREEDOM PROGRAM | $50,000 |
BY THE HAND CLUB FOR KIDS PURPOSE: BY THE HANDMOVING EVEREST MIDDLE SCHOOL CLUB | $50,000 |
COMMISSION ON ECONOMIC OPPORTUNITY PURPOSE: THANKSGIVING DRIVE | $1,000 |