Carl M Freeman Foundation Inc
- Assets
- $110.8m
- Revenue
- $3.8m
- Investments
- $76.1m
- Employees
- 0
- Location
- Selbyville, DE
- Founding
- 10/2001
- Data as of
- 12/2023
- EIN
- 52-6047536
Organization Overview
Carl M Freeman Foundation Inc is located in Selbyville, DE. The organization was established in 2001. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Carl M Freeman Foundation 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 12/2023, Carl M Freeman Foundation Inc generated $3.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $6.5m during the year ending 12/2023. While expenses have increased by 15.3% per year over the past 9 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.
Since 2015, Carl M Freeman Foundation Inc has awarded 1,256 individual grants totaling $22,653,332. 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 |
|---|---|---|---|
Michelle L Freeman Chairman/president | 14 | $138,341 | |
Patti Grimes Executive Director | 20 | $132,867 | |
Christine A Shreve Treasurer/vice Chairman/director | 4 | $0 | |
Nicholas Freeman Secretary/director | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chevy Chase Bank | 12/30/23 | $101,645 |
Wealthspire Advisory | 12/30/23 | $90,885 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $296,970 |
| Dividends & Interest | $1,224,411 |
| Net Rental Income | $1,581,639 |
| Net Gain on Sale of Assets | $390,311 |
| Capital Gain Net Income | $390,311 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $331,256 |
| Total Revenue | $3,824,587 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $161,994 |
| Other employee salaries and wages | $254,959 |
| Pension plans, employee benefits | $25,781 |
| Interest | $0 |
| Taxes | $54,531 |
| Depreciation | $162,357 |
| Occupancy | $107,968 |
| Travel, conferences, and meetings | $12,273 |
| Printing and publications | $0 |
| Other expenses | $108,168 |
| Total operating and administrative expenses | $962,670 |
| Contributions, gifts, grants paid | $5,499,016 |
| Total expenses and disbursements | $6,461,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,013,838 |
| 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 | $68,209 |
| Net Investments - land, buildings, equipment | $29,346,104 |
| Investments—mortgage loans | $0 |
| Investments—other | $11,465,503 |
| Net Land, buildings, and equipment | $4,249,428 |
| Other assets | $0 |
| Total assets | $110,783,277 |
| Accounts payable and accrued expenses | $75,863 |
| 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 | $75,863 |
Grants Awarded
Over the last fiscal year, Carl M Freeman Foundation Inc has awarded $5,499,016 in support to 156 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN MUSLIM SENIOR SOCIETY PURPOSE: SOCIAL SERVICES | $10,000 |
AMERICAN HEART ASSOCIATION PURPOSE: HEALTH | $1,500 |
ANTI-DEFAMATION LEAGUE PURPOSE: SOCIAL SERVICES | $25,000 |
ART LEAGUE OF OCEAN CITY INC PURPOSE: ARTS | $500 |
ART WORKS FOR ALL PURPOSE: SOCIAL SERVICES | $2,500 |
BARBARA K BROOKS TRANSITION HOUSE INC PURPOSE: SOCIAL SERVICES | $9,000 |