Cosgrove Foundation
- Assets
- $2.6m
- Revenue
- $691.3k
- Investments
- $2.1m
- Employees
- 0
- Location
- Traverse City, MI
- Founding
- 12/2017
- Data as of
- 12/2023
- EIN
- 82-1848600
Organization Overview
Cosgrove Foundation is located in Traverse City, MI. The organization was established in 2017. 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. Cosgrove 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, Cosgrove Foundation generated $691.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 54.5% each year . All expenses for the organization totaled $51.3k during the year ending 12/2023. While expenses have increased by 60.7% 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT FOR EMERGENCY SERVICES FIRE DEPT AND RESCUE
SPONSOR CHILDRENS PROGRAM AND OLD TOWN PLAYHOUSE
SUPPORT FOR AREA HOMELESS SHELTER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas A Cosgrove Chair | 5 | $0 | |
Trevor Fetters Co-Chair | 1 | $0 | |
David M Cosgrove Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $402,760 |
| Interest on Savings | $6,020 |
| Dividends & Interest | $14,329 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $268,203 |
| Capital Gain Net Income | $268,203 |
| Net ST Capital Gain | $268,203 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $691,312 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,240 |
| Contributions, gifts, grants paid | $50,043 |
| Total expenses and disbursements | $51,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,527 |
| Savings and temporary cash investments | $466,270 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $2,606,026 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Cosgrove Foundation has awarded $49,417 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
WHITEWATER EMERGENCY SERVICES PURPOSE: SUPPORT PURCHASE OF FIRE & RESCUE EQUIPMENT | $4,762 |
OLD TOWN PLAYHOUSE PURPOSE: SPONSOR CHILDRENS PROGRAMMING | $1,000 |
GRAND TRAVERSE METRO FIRE DEPT PURPOSE: SUPPORT FOR PURCHASE OF RESCUE EQUIPMENT | $15,699 |
TCAPS CLASSROOMS PURPOSE: PURCHASE OF BOOTS AND OTHER WINTER GEAR FOR SCHOOL | $9,289 |
SAFE HARBOR PURPOSE: FACILITY IMPROVEMENTS | $13,245 |
ADDICTION TREATMENT SERVICES PURPOSE: FACILITY REPAIRS | $4,622 |