Carl M Freeman Foundation Inc
- Assets
- $120.5m
- Revenue
- $8.2m
- Investments
- $82.6m
- Employees
- 0
- Location
- Selbyville, DE
- Founding
- 10/2001
- Data as of
- 12/2021
- 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 12/2021, Carl M Freeman Foundation Inc generated $8.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.3% each year . All expenses for the organization totaled $4.1m during the year ending 12/2021. While expenses have increased by 12.5% per year over the past 7 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 927 individual grants totaling $14,237,572. 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 | $128,158 | |
Patti Grimes Executive Director | 20 | $123,739 | |
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 | 12/30/21 | $103,779 |
Citi Private Bank | 12/30/21 | $71,203 |
Jp Morgan | 12/30/21 | $62,447 |
Wealthspire Advisory | 12/30/21 | $157,562 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $212 |
| Dividends & Interest | $1,151,292 |
| Net Rental Income | $48,496 |
| Net Gain on Sale of Assets | $5,003,284 |
| Capital Gain Net Income | $4,791,453 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,026,323 |
| Total Revenue | $8,229,607 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $251,897 |
| Other employee salaries and wages | $188,175 |
| Pension plans, employee benefits | $45,925 |
| Interest | $0 |
| Taxes | $128,292 |
| Depreciation | $179,430 |
| Occupancy | $102,859 |
| Travel, conferences, and meetings | $7,919 |
| Printing and publications | $0 |
| Other expenses | $92,603 |
| Total operating and administrative expenses | $1,504,039 |
| Contributions, gifts, grants paid | $2,570,013 |
| Total expenses and disbursements | $4,074,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,891,458 |
| 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 | $98,991 |
| Net Investments - land, buildings, equipment | $27,896,918 |
| Investments—mortgage loans | $0 |
| Investments—other | $12,089,948 |
| Net Land, buildings, and equipment | $8,093,505 |
| Other assets | $0 |
| Total assets | $120,531,841 |
| Accounts payable and accrued expenses | $31,550 |
| 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 | $31,550 |
Grants Awarded
Over the last fiscal year, Carl M Freeman Foundation Inc has awarded $2,565,447 in support to 153 organizations.
| Grant Recipient | Amount |
|---|---|
LANDON SCHOOL PURPOSE: EDUCATION | $550,000 |
Washington, DC PURPOSE: SOCIAL SERVICES | $300,000 |
CAMP ARROWHEAD PURPOSE: SOCIAL SERVICES | $183,000 |
Rockville, MD PURPOSE: SOCIAL SERVICES | $115,000 |
Annapolis, MD PURPOSE: ENVIRONMENT | $75,000 |
DWDOC LLC PURPOSE: ARTS | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Stadler Family Charitable Foundation Inc Titusville, NJ | $29,757,304 | $26,067,204 |
The Grateful Lives Foundation Wilmington, DE | $671,624,478 | $48,426,740 |
Lenfest Foundation Inc Philadelphia, PA | $0 | $560,962 |
Crystal Trust Ua Dtd 12-25-47 Irenee Dupont Jr Ttee Montchanin, DE | $288,226,063 | $32,506,410 |
Morgridge Family Foundation Wilmington, DE | $205,419,134 | $22,580,458 |
GDS Legacy Foundation Inc Wilmington, DE | $0 | $575,846 |
De Beaumont Foundation Inc Bethesda, MD | $183,698,152 | $47,357,470 |
Foundation For The Greatest Good Fulton, MD | $11,551,864 | $19,462,876 |
Young Mens Christian Association Of The Chesapeake Inc Easton, MD | $84,208,847 | $28,289,184 |
Living Legacy Foundation Wilmington, DE | $129,501,628 | $9,577,224 |
The Healey International Relief Foundation Inc Lumberton, NJ | $326,937 | $11,415,022 |
Zachary Smith Reynolds Trust Pittsburgh, PA | $187,892,547 | $20,789,622 |